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Friends and Clients, 

As everyone knows, Crystal City, Virginia has been chosen as the site of one of Amazon’s two new corporate headquarters locations, Amazon HQ2. What does Amazon HQ2 mean for the Washington region?

The Stephen S. Fuller Institute, the Washington Region’s premier source of information for economic analysis, has compiled a full report on their website that may answer any questions you have about this development. 
You can find that report here, but our team would also like to share a few highlights of what this news may mean for Arlington County and the Commonwealth of Virginia in general. 

First, there are rumors that receiving Amazon HQ2 could lead to a massive housing shortage in our region due to the influx of new jobs; however, I would advise my clients and fellow Realtors alike to not panic yet. 

There is cause to believe that, when put into context with the Washington Metro Area’s general growth projections, the aptly named “Amazon effect” may not contribute to the housing issues some suspect. 

As stated in an article by the D.C. Policy Center, “Small changes in household size could make a big difference in the region’s ability to absorb new households.” 
You can read more from this report, which fully breaks down how the region may respond to the introduction of Amazon HQ2, here

In addition to the counterarguments against negative rumors listed in the D.C. Policy Center article, the earlier-mentioned report from the Stephen S. Fuller Institute also makes a strong case for our area’s capacity to absorb the impact of Amazon HQ2. 

For one thing, the D.C. area has absorbed the equivalent of more than one “Amazon’s worth” of job growth each year for the past three years. This has, indeed, contributed to our existing housing shortage, but may also be evidence that the coming addition of Amazon HQ2 will not be the monumental strain some anticipate. 


Also, while there has been much talk of the potential challenges this development may pose, we should also acknowledge the distinct fiscal and economic benefits that Amazon HQ2 will bring to our region. More information about these projected advantages can be found here, in another great report from the Stephen S. Fuller Institute. 

All in all, the introduction of an Amazon headquarters into Northern Virginia is sure to elicit significant growth within the region.

If you have any other questions about this development, feel free to give my team or me a call or reply to this email. We look forward to hearing from you soon.


Best,

Janet Gresh