New AED Director Victor Hoskins Optimistic About Arlington's Economy
Even though Arlington's vacancy rate has risen from 19.3% last year to 20.5%, and wages and jobs are down, new Arlington County economic development director Victor Hoskins believes Arlington fell victim to BRAC because the economic development plan was stagnant and too dependent on the federal government. So Hoskins is introducing a new plan, "The Way Forward," ARLnow reports. The plan presents three solutions, called a 100% solution, a 50% solution and a 25% solution, to meet the goal of filling 4.5M SF of office space in the next three years. Hoskins is already hard at work. He sent a team to the SXSW conference in Austin, TX, to recruit major tech companies, and AED hosted a group of potential investors from China. Right now Arlington has more than 10M SF of office space in the pipeline, 600k SF of which is under construction. [ARL]
