Without getting into specifics, Alexandria’s new Mayor Alyia Gaskins says that the city has to be intentional and take “big, bold swings at economic development.”
More than 80% of the city’s revenue comes from residential real estate taxes, versus about 19% from commercial properties. The issue was a major political conversation from council candidates leading up to the Democratic primary in June and general election last month.
Former Mayor Justin Wilson said in a recent interview with ALXnow that the city needs a Potomac Yard arena-sized deal to fix the imbalance in the city’s tax base.
“We have to take big, bold swings at economic development,” Gaskins told ALXnow after being sworn in on Thursday night (Jan. 2). “That’s not just at Potomac Yard. It’s continuing to bring Landmark to fruition. It’s thinking about the Eisenhower Valley and other strategic nodes that we have.”
Gaskins continued, “I can’t tell you what the opportunity is going to be just yet, but what I can tell you is that you have a council that’s going to be thoughtful and intentional in making sure that it’s the right opportunity for our city and generates the scale of resources we need to invest in our schools, invest in our infrastructure.”
Gaskins has just weeks before City Manager Jim Parajon presents his fiscal year 2026 budget.
On the budget, the mayor said she’ll be working closely with Parajon, her colleagues and city staff to “understand how do we balance our competing needs.”
In her first speech after taking the oath of office, Gaskins said that the city is facing a “backdrop of deep uncertainty.”
Gaskins said that the city could potentially lose federal funding with both houses of Congress, the White House and the Supreme Court under Republican control.
“How do we make sure we are always intentional about seeking new opportunities for revenue generation and really thinking about the fact that we have to plan for some uncertainties?” Gaskins said. “We can’t predict how changes at the federal level will impact some of our grants and other resources, and we have to take that into account as we budget.”
