A newsletter from Arlington’s economic development authority reveals that local spending on restaurants and retail goods is up significantly compared to 2009.
The meals taxes payed by Arlington restaurants jumped by 9.2 percent for the first three months of the year, according to Arlington Economic Development. In addition to the booming restaurant receipts, retail sales rose 11.2 percent in March.
“I do believe that we are positioned well for the future,” says Arlington Economic Development Director Terry Holzheimer.
Holzheimer admits that predicting the exact impact on Arlington economically is “complex,” and will not be known with a reasonable level of certainty until the Department of Defense comes out with its next budget. But, he says, the diversifying Arlington economy should be able to weather cuts in contracting as it has weathered BRAC.
Arlington is missing out on millions of dollars worth of annual tax revenue because of overly restrictive rules governing how lawyers are admitted to the Virginia Bar, according to a new report by Arlington Economic Development.
AED says that Arlington could be a very attractive location for major law firms. After all, real estate rates in Arlington are significantly lower than K Street and the other prime DC environs currently favored by large firms. Plus, a higher concentration of lawyers live in Arlington than the District, according to AED.
