Podcast 171 - Leading Virginia's Largest Economy with Victor Hoskins

Episode 171 of the Econ Dev Show Podcast is out.

In this episode of the Econ Dev Show, host Dane Carlson sits down with Victor Hoskins, President and CEO of Fairfax County Economic Development Authority, who oversees Virginia's largest economy and leads a team that has secured approximately $3 billion in capital investment.

Victor shares insights from his unique career spanning both public and private sectors, including his instrumental role in securing Amazon HQ2 during his time at Arlington Economic Development.

With candid reflections on his education at MIT, experience in private equity, and passion for creating economic opportunity, Victor reveals his philosophy that has helped companies create over 38,000 jobs in Fairfax County – a place he describes as "where companies come to dent the universe."

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Episode Links

• Victor Hoskins | LinkedIn
• FFX NOVA Business
• The Innovator's Dilemma: The Revolutionary Book That Will Change the Way You Do Business by Clayton M. Christensen

Ten Actionable Takeaways for Economic Developers

1. Create a compelling regional narrative like "where companies come to dent the universe" that resonates with innovative businesses.
2. Build cross-jurisdictional partnerships when pursuing major opportunities like Amazon HQ2.
3. Leverage your region's digital infrastructure and strategic location as key selling points to prospective companies.
4. Maintain a balance between attracting Fortune 500 companies and nurturing disruptive startups.
5. Develop expertise in both public and private sector operations to better facilitate partnerships and investments.
6. Set ambitious capital investment targets and systematically track job creation metrics to demonstrate impact.
7. Study innovative business thinking (like Christensen's "The Innovator's Dilemma") to better understand the companies you're trying to attract.
8. Build a high-performing economic development team capable of handling complex, multi-billion dollar negotiations.
9. Cultivate a highly qualified workforce through strategic educational and training initiatives.
10. Maintain traditional relationship-building skills even in today's digital economy – sometimes the old-fashioned approaches (like pen and paper) still matter.

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