Those cities are attracting some Silicon Valley entrepreneurs and companies in search of a lower cost of living and doing business. Last year, Austin made deals with 39 companies, and Miami saw an influx of venture capital dollars and firms.
But local cheerleaders of Arlington in general — and National Landing in particular — say the area is on par with these hubs because it has an educated workforce, plenty of office space, Amazon’s HQ2, continuous 5G service, and recruiting opportunities from area universities.
“I would love for our government leaders to be talking more aggressively about this,” said Ken Biberaj, a managing director of commercial real estate company Savills, during a recent panel discussion about National Landing, hosted by Arlington Economic Development. “I think they should be on TV every single day talking about why they should be coming here.”
The suggestion is that Arlington needs someone like charismatic Miami Mayor Francis Suarez, who is leading a campaign to attract businesses and support tech entrepreneurs. Suarez is noted for regularly speaking with CEOs who have chosen Miami.
So, does Arlington and National Landing compare to those two buzzy, sunny locales? Aside from the weather, some real estate analysts say yes.
“I think definitely the pieces are there and having Amazon as an asset is a really great thing,” said Eric Maribojoc, the Director of the Center for Real Estate Entrepreneurship at the George Mason University School of Business.
Like Austin, Arlington also has the “urban-like” amenities that could attract companies, he added.
With its talent base and focus on regulatory tech and cybersecurity companies, Northern Virginia as a whole has already achieved parity, said Phil Ryan, the Director of Research at commercial real estate company Jones Lang LaSalle (JLL).
“You need to grow more in the ‘flashier’ tech, for lack of a better word,” he said of the region. “I think National Landing is trying to get [better] at the visibility. People think Austin is techy because they’re louder about it.”
Although Arlington’s key tech sectors — cloud, cybersecurity and artificial intelligence — are not as consumer-facing as a Facebook or a Tesla, those sectors could drive tech growth in the region as JLL predicts they will flourish under President Joe Biden.
Ryan cautioned against seeing the reports of migration to Austin, Miami and elsewhere as proof that Silicon Valley is experiencing a brain drain. Although some tech workers may want a lifestyle change and to avoid higher California income taxes, most are staying in the Bay Area while back-office operations and executive suites are relocated.
Although Northern Virginia checks companies’ boxes for talent, education systems and transit connectivity, it has been “sold short,” Ryan said. Despite being a business-friendly state with relatively moderate taxes , Virginia has to compete with Texas and Florida’s lack of income tax while vying for corporate relocations against — rather than in cooperation with — D.C. and Maryland.
“For years, [it] was considered a big problem that there wasn’t one unified agency to get people into the area,” Ryan said.
Still, Arlington is nabbing and retaining businesses, making 24 deals in 2020, Arlington Economic Development reports.
The county has emerged as a tech hub with startups forming in and moving to Arlington’s Metro corridors over the past decade or so. Over the last four years, the county has also seen rising venture capital funding, AED’s 2020 report said.
Whether Arlington and National Landing are cemented as a nationally-recognized tech hub may depend on how other companies interact with Amazon, which expects to grow its HQ2 workforce to about 25,000 people.
Big companies such as Amazon tend to cluster with other big companies and attract small- and medium-sized companies, GMU’s Maribojoc said. These smaller companies crop up to work with the big corporations or they form as spinoffs, he said.
“That is what will happen in Arlington,” he said. “I think developers are wise to plan to accommodate both small and medium-sized companies that will cluster around these larger ones.”
This narrative of innovators striking out on their own will play out in National Landing once Amazon settles in, Savills’ Biberaj agreed.
And they will have access to resources such as continuous 5G service, JBG Smith Senior Vice President of Leasing Brian Cotter pointed out during the panel. The developer’s investment in 5G will give them “a place that can be a living lab that really fosters innovation moving forward,” he said.
Pentagon City and Crystal City’s combined office space inventory of 12 million square feet well below that of Austin’s 58 million square feet or Miami’s 38 million square feet, however. But as you get less geographically granular, our area starts to look much more competitive: Arlington has nearly as much total office space as Miami — nearly 36 million square feet — while Northern Virginia has more than both cities combined, with just over 160 million square feet.
Today’s Listing of the Day is a 3 BD/2 BA condo with a balcony and direct views of the Washington Monument.
A few hundred parents say Arlington Public Schools should prioritize recreating pre-Covid normalcy in the classroom and evaluating the use of electronic devices. That’s according to a recent informal survey…
The Barnes & Noble store in Clarendon was the scene of an alleged armed robbery today. Police responded around noon to the bookstore at 2800 Clarendon Blvd, in The Crossing…
The Arlington County Fire Department is reviving a door logo last seen on county vehicles more than 50 years ago. At the same time, the department is gradually upgrading its vehicles…
Now you can have fun with your family and friends when deciding where to eat!
Just hop aboard The Lunch Train and set the destination for: breakfast, brunch, lunch, dinner, or nightlife!
– No app necessary. Simply go to the website if you’d like!
– No account necessary
– Use your current location or a desired location
– Add restaurants you’re interested in, invite your friends, and play the game!
Lyon Park & Ashton Heights’ biennial home & garden biennial tour is back. The tour will include contemporary custom homes, older historic bungalows as well as renovated properties. One of the stunning homes on the tour is pictured above. In addition to beautiful & unique homes, the Villa & Vistas ’22 event will conclude with a festive reception at the Lyon Park Community Center at 414 N Fillmore Street, Arlington VA 22201. What could be better right?
All proceeds from this event will go to the Lyon Park Citizens Association (LPCA) towards our neighborhood jewel & hub, the Lyon Park Community Center (LPCC).
When: Sunday, October 2nd, Noon – 4 PM.
Where: Meet to get your tickets and the tour map at the Lyon Park Community Center (414 N Fillmore Street) We will have a table with information outside.
Join us as we explore Vini Franchetti & their two sister vineyards Passopisciaro (Sicily) and Vini Franchetti (Tuscany) for our Sicily/Tuscany Wine Dinner!
Sunday, Oct 9 @ 6pm
Special Guest: This wine dinner we will be hosting the wine maker