Warner made the remarks at Yahoo Finance’s All Markets Summit on Tuesday in a conversation with editor-in-chief Andy Serwer.
Arlington, Virginia, is one of the winners of Amazon’s closely watched second headquarters competition, something Sen. Mark Warner (D-VA) called a “win for the whole region.”
Warner made the remarks at Yahoo Finance’s All Markets Summit on Tuesday in a conversation with editor-in-chief Andy Serwer.
“This process is probably the most unique kind of economic development where the whole country was chasing [Amazon],” Warner noted, adding that Virginia, Washington, D. C., and Maryland are set to benefit.
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“It’s not just these immediate jobs, but the enormous amount of spinoffs that will spark entrepreneurial activity,” Warner said.
Warner also expects a major announcement from Virginia Tech, the Blacksburg, Virginia-based research university, about an upcoming innovation center.
Warner did, however, acknowledge the potential risks for the area, including a possible a rise in housing costs and mentioned that the local jurisdictions are set to cooperate to mitigate those risks.
In a company announcement Tuesday, Amazon said more than 25,000 workers will be housed at the new facility in Arlington. New York City’s Long Island City was also selected as a winner in the headquarters search and will also employee 25,000 people. Amazon is investing $5 billion total in this endeavor.
Scott Gamm is a reporter at Yahoo Finance. Follow him on Twitter @ScottGamm.
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