Monumental project will “turbocharge” VA tourism

Perhaps most importantly, we are poised to continue growing as the sector weathers the pandemic recovery. One potential development will spur that growth in the coming years — a new sports arena and entertainment district in Alexandria.

As our state’s marketing campaign notes, Virginia is for lovers. And there’s a lot to love about bringing two professional sports teams, a new arena and a broader entertainment district to Northern Virginia.

The new Monumental Sports campus will be the catalyst for a new concert venue and entertainment district that includes new hotels, retail, dining and mixed-use housing. This hotel and conference space is desperately needed to attract larger gatherings and business meetings to Northern Virginia. Our partners at Visit Alexandria called this aspect a “game-changing opportunity” for Alexandria and the region.

Having a new world-class performance venue will also benefit the region, attracting top talent for performances and concerts. Virginia is specifically and uniquely located geographically within a day’s drive of tens of millions of Americans. Having another marketable destination will be a boon for visitors by car. In this way, our existing restaurateurs and other small businesses will benefit from several million event attendees over the course of a year.

One of the most exciting features of this proposal is the increase in new tax revenue that will be generated for the community. In recent years, visitors to Virginia have accounted for over $2 billion in state and local tax revenue. The addition of new spending and tax generation with this project will mean more money for transportation infrastructure and public amenities — making this area an even more attractive place to live, work and visit.

Finally, it must be understood that tourism equals jobs. In 2022 alone, state analysis showed that jobs supported by tourism accounted for 5.5 percent of all jobs in the state. This new development will create tens of thousands of new jobs, many in our sector.

For nearly 80 years, the Virginia Restaurant, Lodging and Travel Association has represented the Commonwealth’s restaurants, hotels and tourist attractions. Rarely has a project been greeted with such excitement for its potential impact on our industry and the trajectory of travel in Northern Virginia. And because of what tourism means to our state’s economy, Richmond should love it, too.