by John Reid

RICHMOND, VA – Governor Glenn Youngkin released the following statement today on the recent development regarding the Monumental Sports & Entertainment Economic Development Project:

“Virginians deserve better. A one-of-a-kind project bringing world-class athletes and entertainment, creating 30,000 jobs and $12 billion in economic activity just went up in smoke. This transformational project would have driven investment to every corner of the Commonwealth. This should have been our deal and our opportunity, all the General Assembly had to do was say: ‘thank you, Monumental, for wanting to come to Virginia and create $12 billion of economic investment, let’s work it out.’ But no, personal and political agendas drove away a deal with no upfront general fund money and no tax increases, that created tens of thousands of new jobs and billions in revenue for Virginia. I’d like to thank Ted Leonsis and the Monumental team, the City of Alexandria, JBG Smith and countless other partners for their professionalism, belief in Virginia and fortitude. Congratulations to Monumental for striking a great deal, I’m sorry you won’t be in Virginia.”

Earlier today, the City of Alexandria announced that talks to lure the NHL’s Washington Capitals and NBA’s Washington Wizards to Virginia have ended. When plans to move the longtime franchises were announced late last year, the incentive plan offered by Youngkin never gained momentum in the Democratic-controlled General Assembly. State Senator L. Louise Lucas, Chairwoman of the Senate Finance and Appropriations Committee, posted in X the state is “celebrating” the decision.