By David DeCamp, 2013 Chamber Chair, Managing Director at Newmark Grubb Knight Frank
Before you begin to talk about or tour specific spaces to relocate or expand your business, consider the big picture. The twenty-six square miles that comprise Arlington offer great fundamental advantages over neighboring jurisdictions. Let’s take a look:
1. More Employees. Your future workforce wants to live, work, shop and play in an urban place like Arlington. 75% of the “Millennial” twenty-somethings pick where they want to live before they decide what job they want to do. These younger workers and a growing cadre of families and empty-nesters are shunning the traffic of the suburbs in favor of denser, walkable, more interesting neighborhoods in the core. On top of this trend towards urbanization, Arlington’s population almost doubles every workday morning as more than 150,000 employees from Fairfax County, DC, Alexandria and other outlying areas commute to jobs in Arlington.
2. More Customers. The closer you get to the core, you find customers and disposable income more densely concentrated – and it doesn’t hurt to have the Pentagon in our midst. Arlington’s mixed-use commercial corridors are in the heart of the ten square miles that formed the original Federal District. Businesses benefit locally, nationally and internationally from preferred access because of Arlington’s central, strategic location. Roads and the transit spokes lead to the core (DC & Arlington).
3. Lower Taxes. Check this out: Commercial (office, hotel, industrial & retail) space in DC is taxed at more than $2.00 per $100 in value. Commercial space in Tysons Corner is taxed at $1.49 per $100. Commercial space in Arlington is taxed at $1.15 per $100. The difference goes to your bottom-line.
4. Better Transportation Options. Besides four major bridges into DC, eleven Metrorail stations, two interstate highways and 86 miles of bike routes, Arlington also has one of the nation’s busiest and best airports – Reagan National – with about 50 departures/arrivals per hour from 6am until 10pm every day of the week. Most importantly, you don’t need a car to get around. More and more daily business errands can be handled easily on foot as Arlington is delightfully walkable.
5. Better Government. They are not perfect. I could give you my list of things they could do better, but Arlington’s professional County Manager form of government is out-performing the neighboring jurisdictions. Bold decisions, good planning and competence have resulted in Arlington having among the healthiest tax bases in America. 49% of all Arlington tax receipts come from businesses – and the business tax rates are comparable or lower than anywhere else in the region. In Arlington, your business gets the benefits of smart, affordable government in an urban core location.
6. Space is Available and On Sale. Base Realignment & Closure (BRAC), the Great Recession and a trend of putting more employees in smaller (more efficient) spaces has combined to result in more the 6 million square feet of available office space in Arlington (a 17% vacancy rate). Now is the time to take advantage of a ‘once-in-a-generation’ opportunity to locate or expand in Arlington at very attractive, “buyer’s market” prices and terms.
Before you begin to talk about or tour specific spaces to relocate or expand your business, consider the big picture. The twenty-six square miles that comprise Arlington offer great fundamental advantages over neighboring jurisdictions. Let’s take a look:
1. More Employees. Your future workforce wants to live, work, shop and play in an urban place like Arlington. 75% of the “Millennial” twenty-somethings pick where they want to live before they decide what job they want to do. These younger workers and a growing cadre of families and empty-nesters are shunning the traffic of the suburbs in favor of denser, walkable, more interesting neighborhoods in the core. On top of this trend towards urbanization, Arlington’s population almost doubles every workday morning as more than 150,000 employees from Fairfax County, DC, Alexandria and other outlying areas commute to jobs in Arlington.
2. More Customers. The closer you get to the core, you find customers and disposable income more densely concentrated – and it doesn’t hurt to have the Pentagon in our midst. Arlington’s mixed-use commercial corridors are in the heart of the ten square miles that formed the original Federal District. Businesses benefit locally, nationally and internationally from preferred access because of Arlington’s central, strategic location. Roads and the transit spokes lead to the core (DC & Arlington).
3. Lower Taxes. Check this out: Commercial (office, hotel, industrial & retail) space in DC is taxed at more than $2.00 per $100 in value. Commercial space in Tysons Corner is taxed at $1.49 per $100. Commercial space in Arlington is taxed at $1.15 per $100. The difference goes to your bottom-line.
4. Better Transportation Options. Besides four major bridges into DC, eleven Metrorail stations, two interstate highways and 86 miles of bike routes, Arlington also has one of the nation’s busiest and best airports – Reagan National – with about 50 departures/arrivals per hour from 6am until 10pm every day of the week. Most importantly, you don’t need a car to get around. More and more daily business errands can be handled easily on foot as Arlington is delightfully walkable.
5. Better Government. They are not perfect. I could give you my list of things they could do better, but Arlington’s professional County Manager form of government is out-performing the neighboring jurisdictions. Bold decisions, good planning and competence have resulted in Arlington having among the healthiest tax bases in America. 49% of all Arlington tax receipts come from businesses – and the business tax rates are comparable or lower than anywhere else in the region. In Arlington, your business gets the benefits of smart, affordable government in an urban core location.
6. Space is Available and On Sale. Base Realignment & Closure (BRAC), the Great Recession and a trend of putting more employees in smaller (more efficient) spaces has combined to result in more the 6 million square feet of available office space in Arlington (a 17% vacancy rate). Now is the time to take advantage of a ‘once-in-a-generation’ opportunity to locate or expand in Arlington at very attractive, “buyer’s market” prices and terms.
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