WASHINGTON – It is a local battle that is just beginning.
Several jurisdictions in the D.C. region are vying for the Federal Bureau of Investigation’s headquarters when it leaves the District.
There are jobs and additional local tax revenue on the table, but those benefits would be limited, according to economic experts.
“The hope is it will give those counties identity,” says Stephen Fuller, director of the Center for Regional Analysis at George Mason University. “Naming rights in effect are really what’s important.”
Fairfax, Prince William and Prince George’s counties are among those in contention for the headquarters.
“Benefits that can be generated, even if they are more limited than people think, would be more beneficial to Price George’s County,” Fuller explains.
“It suffered more during the recession. It’s had more difficult time attracting business investment,” says Fuller.
Whatever happens, D.C. will be in a position to make millions in new taxes.
District officials could replace the FBI’s current tax-exempt building with a private development.
According to a recent report, nearly five thousand jobs would leave D.C., but about $28 million in new local taxes would be funneled in.
The FBI headquarters is expected to remain where it is on Pennsylvania Avenue until 2022 or later.
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