Fairfax County leaders are under fire from Virginia officials for allegedly causing the loss of 800 jobs, with the county leaders issuing rebuttals to the accusations.
In Fairfax County, Virginia, the local economy has been facing challenges, with an increasing unemployment rate and a need for more job opportunities. County Supervisor Pat Herrity finds it disheartening that a company relocating its headquarters to Fairfax County was missed, as it would have helped fill empty commercial office space and diversify the tax base.
Recently, 7News reached out to other Fairfax County Supervisors, asking if it's time for the county to work with the state to provide incentives to bring more jobs and industry to the county. The current Fairfax County Board of Supervisors chairman, Jeff McKay, believes in the continued success of Fairfax County's economy and is hopeful for action from the Youngkin administration.
However, Virginia lost a bid to bring a power company's headquarters to Fairfax County due to a lack of competitive economic incentives. Secretary Juan Pablo Segura believes Fairfax County needs a business-friendly Board of Supervisors and leadership. Ana Lucia Murillo, the Money Reporter for the Washington Business Journal, stated that Fairfax County saw a 35% increase in its unemployment rate year over year, with 3.3% of workers in the county unemployed in May. Murillo also mentioned that many people in Fairfax County know someone who is out of work due to federal layoffs or cuts from government contractors.
Fairfax County's Economic Development Authority (EDA) offers competitive economic incentives such as a stable low corporate income tax rate of 6%, a low and significantly reduced real property tax rate, tax credits for green jobs, and programs like the Virginia Jobs Investment Program which offsets recruiting and training costs for new and expanding companies. Additionally, the county's Economic Incentive Program (EIP) provides reductions in site plan fees and partial abatements on real estate taxes for property developers in targeted areas.
Despite these efforts, some state officials have criticized Fairfax County for lacking more aggressive or flexible economic incentives compared to other regions. This dynamic can have a mixed impact: it attracts stable business investment and growing companies but may lose out on opportunities for some high-profile, high-paying headquarters looking for more substantial incentive deals. The power company would have brought nearly 800 engineering and high-paying jobs to Fairfax County, with an average salary of over $150,000.
If specific requests or engagement are needed, the Commerce Secretary is suggested to coordinate directly with Fairfax County's EDA for appropriate consideration. McKay's statement on Thursday reiterates that Fairfax County is the economic engine of the Commonwealth of Virginia and is committed to supporting economic growth across the Commonwealth. McKay also expressed concern about the attacks on Virginia's economy from Washington, D.C.
However, Fairfax County's EDA may communicate with the Virginia Economic Development Partnership (VEDP), but Fairfax County does not participate in the VEDP's COF, according to the Commerce Department. This could be a potential area for improvement, as participating in such programmes could provide Fairfax County with access to more resources and support in attracting high-paying jobs.
In conclusion, while Fairfax County's incentive structure fosters economic growth and maintains a strong business environment, it may be less competitive relative to other jurisdictions that offer more aggressive incentive packages. This has led to calls from state leaders for Fairfax to adopt more business-friendly incentive approaches to retain and grow such opportunities.
- The local economy in Fairfax County, Virginia is facing challenges, with an increasing unemployment rate and a need for more job opportunities.
- County Supervisor Pat Herrity finds it disheartening that a company relocating its headquarters to Fairfax County was missed, as it would have helped fill empty commercial office space and diversify the tax base.
- Recently, 7News reached out to other Fairfax County Supervisors, asking if it's time for the county to work with the state to provide incentives to bring more jobs and industry to the county.
- The current Fairfax County Board of Supervisors chairman, Jeff McKay, believes in the continued success of Fairfax County's economy and is hopeful for action from the Youngkin administration.
- Virginia lost a bid to bring a power company's headquarters to Fairfax County due to a lack of competitive economic incentives.
- Secretary Juan Pablo Segura believes Fairfax County needs a business-friendly Board of Supervisors and leadership.
- Ana Lucia Murillo, the Money Reporter for the Washington Business Journal, stated that Fairfax County saw a 35% increase in its unemployment rate year over year.
- Fairfax County's Economic Development Authority (EDA) offers economic incentives such as a stable low corporate income tax rate, tax credits for green jobs, and programs like the Virginia Jobs Investment Program.
- Despite these efforts, some state officials have criticized Fairfax County for lacking more aggressive or flexible economic incentives compared to other regions.
- The power company would have brought nearly 800 engineering and high-paying jobs to Fairfax County, with an average salary of over $150,000.
- If specific requests or engagement are needed, the Commerce Secretary is suggested to coordinate directly with Fairfax County's EDA for appropriate consideration.
- Participating in economic development partnership programs could provide Fairfax County with access to more resources and support in attracting high-paying jobs, making it more competitive relative to other jurisdictions.
