A report released earlier this year estimated a $161 million net tax revenue increase for Arlington County over the next 14 years if redevelopment plans for Crystal City move forward.
Economics Research Associates found that without redevelopment, tax revenues until 2020 will remain relatively flat at approximately $17 million per year. However, annual revenues would increase steadily to more than $50 million by 2020 if Crystal City is redeveloped.
The report was done for the Arlington Economic Development Department, which appointed a Base Realignment and Closure Transition Task Force last year to help deal with the loss of more than 17,000 military jobs from the area because of base closings.
The task force is expected to recommend a plan to the Arlington County Board next month to redevelop Crystal City. Recommendations include replacing old office buildings, providing job placement services for civilians working for the government who want to stay in the area, and giving assistance to business so they can stay open during the transition.
Terry Holzheimer, director of the Arlington Economic Development Department, said he expects an increase in tax revenue, but is unsure how much. He said the amount estimated in the study seemed high.
“How much [revenue there is] going to be, I don’t know,” he said.
Ata glance
» Crystal City is losing workers because the Pentagon decided last year to stop leasing public space for its employees.
» More than 4.2 million square feet of office space will be vacated when the Pentagon leaves Crystal City.
