Dear Friends, Virginians, citizens of Fairfax:

Ten years ago, I was a young lawyer, father of one daughter and Fairfax City Councilman. I now have my own law firm, three children and a desk in the StateSenate. It's been a decade of enhanced obligations.  I can't complain. I asked for all of it.
 
You can say the same about Fairfax County.  
 
Ten years ago, Northern Virginia was the epicenter of the Internet Revolution.  Fairfax County was overrun with young entrepreneurs promoting a radical new model for delivering goods and services.
 
That on-line model survived and is now business as usual.  Yet most the New Economy entrepreneurs crashed and burned, even before the events of September 11th.  Not everyone survives the revolution.  
 
In the wake of "9/11," our economy slowed in Fairfax but then rebounded with new investments in homeland security and defense technologies.  The real driver was the real estate market which sustained years of double-digit growth.  New sales and construction spun off thousands of jobs and created new wealth, as did a strange new investment called "mortgage-backed" securities.  Slow-minded folks like me never did get it. Fortunately.
 
The NoVA housing market chilled in 2006-2007 and then died in 2008.  A few months later the mortgage industry went down with it, leaving Fairfax County glutted with empty office space, as well as free pens and calendars.  
 
The collapse of the housing market happened nationally, but the effects were magnified in the Virginia.  Credit disappeared and businesses contracted.  By summer 2008, our state revenues were dropping like a rock.  
 
The year 2009 has been about consolidation and retrenchment.  Folks in Fairfax -- like all Americans -- are more cautious with their money.  More skeptical of investment opportunities.
 
So where are we headed next?   
 
In this new decade, we are a denser state by nearly a million people.  Our citizens are well-educated and (mostly) employed.  Our crime rate is lower.  Our schools are better.  We have the tools to succeed.  
 
Now we're all waiting for The Next Big Thing to create new jobs and wealth in Virginia.  We just don't know what it is yet.  
 
Are we ready for the Teenage Years?
 
If you know where we're headed (or want to learn), I'm having my annual"Business Leaders Breakfast" at the Crown Plaza in Tysons Corner on January 8th, 2010.  Registration and sponsorship info is here.  
 
We will discuss the state economy and state budget, as well as new technologies and industries that will create jobs and wealth through 2020.  United States Senator Mark Warner is scheduled to join us.  I hope that you can too.  
 
The event is also a fundraiser for my re-election.  (I'm within a few dollars of my $100,000 goal for 2009 -- you can make a donation here).  If I raise enough, I might be able to hire a new ghost writer.  Please help out and join us if you can on January 8th. 
 
JCP Notes:  The outgoing Governor released his proposed two-year state budget on December 18th.  I stated my honest reactions on my blog at Ox Road South, including my opposition to an income tax increase.  The next Governor will make amendments to that budget in January, and the legislature will make the final decision.
 
The legislative session begins on January 13th, so we are moving to Richmond.  Starting January 11th, you can reach us at (804) 698-7534 or at kathy@fairfaxsenator.com with your thoughts, questions and prayers. 

Let us know how we can represent you better. And have a great new year.

Sincerely,

Chap Petersen