Sen. Mark Warner on Amazon's HQ2 in Virginia: It’s a win for the whole region

Arlington, Virginia, is one of the winners of Amazon’s closely watched second headquarters competition, something Sen. Mark Warner (D-VA) called a “win for the whole region.”

Warner made the remarks at Yahoo Finance’s All Markets Summit on Tuesday in a conversation with editor-in-chief Andy Serwer.

“This process is probably the most unique kind of economic development where the whole country was chasing [Amazon],” Warner noted, adding that Virginia, Washington, D.C., and Maryland are set to benefit.

RELATED: Twitter reacts to Amazon HQ2 rumors

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Twitter reacts to Amazon HQ2 rumors
OH MY GOD THIS WHOLE ODYSSEY DOESNT EVEN END WITH A SECOND HEADQUARTERS BUT JUST TWO ADDITIONAL OFFICES https://t.co/L6wLrwztxf
Gonna be hilarious when half the HQ2 employees work remotely from cities they could afford to buy homes in
If #HQ2 ends up in NYC & DC regions, 3 takeaways: 1. #Amazon picked existing super regions, as expected, highlighti… https://t.co/bSS5AnLawM
So Amazon lied throughout the entire H2 search process, making cities ante up in expectation of a far, far bigger d… https://t.co/quuOPDDDJG
this guy is right "HQ2" was basically an enormous PR stunt to get the best tax breaks possible from local governme… https://t.co/0YPwxFrCDj
Indeed. A shameful charade in which a wealthy corporation conned public officials into giving away public resources… https://t.co/qDNZDTCRZJ
the single most valuable thing to come out of HQ2 is the local journalism across the country about how cities tried… https://t.co/5m2VZ08c2G
Can’t wait to see your faces when @JeffBezos announces Amazon HQ2 will be a vast traveling city on gigantic tank tr… https://t.co/22f11OHwOe
I'd love to know what the 240 cities that applied for HQ2 think about this, especially the other 18 finalists that… https://t.co/2R77llb6oL
Hearing that @amazon is choosing their #HQ2 between the DC area, NYC and Dallas is like Bryce Harper choosing betwe… https://t.co/mBSFCBvcpi
This whole #HQ2 thing is so ridiculous — grotesque how Amazon has manipulated cities https://t.co/28Ijedw8qw
If Amazon is really about to name DC (or the outskirts of DC) as their HQ2, I'm going to vomit. It will be a clear… https://t.co/MMxVme4mz9
If #HQ2 is going to Northern Virginia (DC) as the obvious choice, I think residents of the 200+ other cities who lo… https://t.co/vwS1zPs9x7
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“It’s not just these immediate jobs, but the enormous amount of spinoffs that will spark entrepreneurial activity,” Warner said.

Warner also expects a major announcement from Virginia Tech, the Blacksburg, Virginia-based research university, about an upcoming innovation center.

Warner did, however, acknowledge the potential risks for the area, including a possible a rise in housing costs and mentioned that the local jurisdictions are set to cooperate to mitigate those risks.

In a company announcement Tuesday, Amazon said more than 25,000 workers will be housed at the new facility in Arlington. New York City’s Long Island City was also selected as a winner in the headquarters search and will also employee 25,000 people. Amazon is investing $5 billion total in this endeavor.

Scott Gamm is a reporter at Yahoo Finance. Follow him on Twitter @ScottGamm.

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