Growth through innovation
One of my top priorities is to address the serious financial challenges that recent economic headwinds have created for Arlington. Pandemic slowdowns, combined with a broader shift to work-from-home office practices, has led many businesses to vacate Arlington’s commercial properties – depriving the county of key taxation revenue. Compounding this problem, the recent spike in inflation has already outpaced the County’s revenue growth over the past year. Meanwhile, rising interest rates have increased the cost to the County of new borrowing. There is now a genuine risk that the County may soon find itself forced to delay or even reduce important programs and services.
I am committed to finding creative and effective solutions to make up this lost ground and ensure Arlington’s continued fiscal health. Among the avenues to pursue will be to attract technology companies to the County by leveraging its strong talent base, leading universities, and established tech companies such as Amazon to create a thriving tech ecosystem. The DMV region is already a hub for tech workers, ranking third in the country behind only San Francisco and New York, making Arlington uniquely positioned to pursue a strategy that entices technology-oriented companies with additional incentives such as education infrastructure and partnerships with local universities. We have the potential not only to help mitigate recent decreases in county revenue but generate new sources of income that stimulate economic growth substantially above previous levels.
At the same time, it’s imperative for the County to provide support and resources to local small businesses to ensure they too can grow and succeed. This could include providing funding, mentorship, and access to capital and other resources.