An analysis has found that moving the Washington Wizards and Capitals to Alexandria would have an enormous economic impact on the city and the state of Virginia.
The study reviewed the economic and fiscal impact of Potomac Yard development with and without the planned sports entertainment complex.
The 27 page study made public Feb. 16 was prepared by HR&A Advisors, a real estate consultant firm, for the Alexandria Economic Development Partnership. The firm’s analysis is based on a business model prepared for Monumental Sports & Entertainment by CSL International.
It concluded that if Monumental Sports sets up its headquarters and NBA and NHL teams in Potomac Yard, it would mean nearly $34 million a year in tax revenue for Alexandria — nearly seven times more than the $5 million which would be generated by the Potomac Yard site without the sports arena development.
Click here to read the rest of the article written by Dick Uliano over at WTOP
