Yesterday, Governor McAuliffe was in town to announce that Nestlé USA is moving its corporate headquarters to Arlington in September of this year. Finally, the long-vacant 1812 building will have a major tenant, which is certainly good news for Arlington’s commercial vacancy rate.
The move is touted as a $40 million investment by Nestlé USA. However, it does not come without a cost to Arlington taxpayers. The company will receive a $6 million grant from the Commonwealth Opportunity Fund, a $4 million grant from Arlington, and a commitment to $2 million in Arlington spending on infrastructure as well as “extensive relocation assistance” from Arlington County.
The last point also serves notice that while the county’s press release claims it will “create 748 jobs,” these are not new jobs for our regions. Some of those jobs — exactly how many we were not told — will be filled by people relocating with the company from California.
Granted, a thriving employer in the county helps everyone regardless of how many new jobs it creates. And in this day and age of states in a bipartisan fashion offering huge financial incentives to employers looking to relocate, it is understandable that Virginia is playing in the economic development sweepstakes.
However, it once again raises the question of whether we should take a different approach, one that helps existing businesses and new businesses looking for a better economic environment.
California has seen thousands of businesses leave the state over the past few years. One study indicated businesses could see operating cost savings of as much as 35% due to the unfavorable business climate.
Virginia is consistently ranked in the top 10 to 15 places to do businesses by those who rank these things. However, our ranking is moving in the wrong direction. In CNBC’s rankings, Virginia slid from 3rd to 13th over the past four years.
Arlington, and Virginia as a whole, should have one goal — make us the number one business climate for creating and operating a business. It will not only make us more attractive to businesses looking to move, but will allow our current businesses to grow and thrive.
Unfortunately, Democrats praising the $12 million of taxpayer money given to Nestlé today would almost certainly demonize any moves to simplify and reduce taxes and regulations as “giveaways to the rich and powerful” tomorrow.
Good Thursday evening, Arlington. Let’s take a look back at today’s stories and a look forward to tomorrow’s event calendar. 🕗 News recap The following articles were published earlier today…
A look at the smallest and largest homes sold in Arlington last month, August 2023.
For the last decade, Arlington Public Schools has tried to increase the time students with disabilities spend with their typically abled peers. Creating a more inclusive environment can benefit students…
Step into a world of flavor, creativity and philanthropy at the upcoming Halstead Food, Wine & Art Festival on Saturday, October 7 — where every moment is dedicated to giving…
At Generation Hope, we’re dedicated to supporting teen parents in college as they work toward earning their degrees. We are in need of caring child care volunteers for upcoming events on Saturday, October 21st (in Washington, DC), and Saturday, November 4th (in Arlington, VA). Join our growing volunteer community and support us at an event this fall!
At all of our events, we provide free onsite child care for the children of the teen parents we serve, creating a nurturing environment for the kiddos while their parents learn valuable life skills and build community.
If you enjoy working with children and are looking to make an immediate impact in your community, please visit https://www.generationhope.org/volunteer to learn more.
Join us for Arlington’s biggest civil rights & social justice event of the year. The banquet is back in person at the Arlington Campus of George Mason University.
Our keynote speaker this year is Symone Sanders from MSNBC and former Chief of Staff for Vice-President Kamala Harris.
The Master of Ceremonies is Joshua Cole, former state delegate, NAACP President, and local pastor.
Tickets/seating are limited. Purchase your ticket today! Sponsorship opportunities available.
Join the Rosslyn BID for Fall Fest on Saturday, Oct. 14, from 1-6 p.m. at Gateway Park! Whether you’re in the mood for a refreshment at our hard cider tastings and cash bar, want a bite to eat from the