Report

Amazon HQ2 and National Landing: Momentum Builds

24 Feb 2022

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Three years after Amazon’s announcement for Arlington, Virginia to be the sole recipient of its $2.5 billion HQ2 development, the positive momentum it created for the Washington, D.C. metro region has proven resilient through adversity. Amazon has since hired more than 3,500 HQ2 employees, and construction of Metropolitan Park—the 2.1 million sq. ft. phase one of HQ2—is on pace for completion in 2023. Additionally, Virginia Tech began construction of its $1 billion Innovation Campus in Potomac Yard last September. Upon delivery, the Campus will add 600 master’s and doctoral graduates annually to the area’s already robust tech talent pipeline.     
 
Despite the pandemic clouding the near-term outlook, these ongoing developments will remain a significant driving force of future growth for the region. The high-paying, technology-oriented jobs Amazon has created and continues to create, the multiplier effect these jobs are expected to have on the overall economy, and the virtuous cycle of the tech talent ecosystem from education to employment, will work together to further solidify the region as a leading innovation hub and knowledge economy globally.