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Virginia lawmakers weigh in on possibility of new Caps, Wizards stadium in Potomac Yard
Just a day after the big annoucement that the Capitals and Wizards are moving to Alexandria, some area lawmakers are raising concerns about aspects of the plan – namely, transportation.
WASHINGTON - An impact analysis for the planned development of Potomac Yard found that the creation of an entertainment district would create nearly 30,000 permanent jobs and generate 2.5 times the economic output.
The analysis, by HR&A Advisors, was ordered in June of 2023 by the Alexandria Economic Development Partnership.
The analysis looks at two different scenarios: development just around the Potomac Yard Metro station, or the creation of an arena and entertainment complex plus additional residential, retail, hotel, and conference development.
A rendering showing the newly proposed entertainment district in Alexandria's Potomac Yard that features an arena for both the Washington Capitals and Washington Wizards, and the global business headquarters for Monumental Sports & Entertainment …
The arena and entertainment complex, which would also house the headquarters for Monumental Sports and would serve as the new home for the Washington Wizards and Washington Capitals, would create 29,925 permanent jobs for the state of Virginia.
The impact analysis also projects that the arena and entertainment complex would net the state nearly $94 billion in 30 years.
Read the full report below.