Governor McDonnell Announces "The Greatest Opportunity: Jobs and Economic Legislative Agenda" for 2012 General Assembly Session

First Component of Governor's 2012 Legislative Agenda Continues Administration's Focus on Helping Private Sector Create Good Jobs for Virginians

RICHMOND –  Governor Bob McDonnell, joined by Lieutenant Governor and Chief Jobs Creation Officer Bill Bolling and numerous legislators, announced today his “The Greatest Opportunity: Jobs and Economic Development Legislative Agenda” for the 2012 General Assembly session during a morning press conference in Richmond.  This year’s agenda builds on the aggressive job creation and economic development measures that passed the General Assembly with strong bipartisan support during the 2010 and 2011 sessions.  In line with the budget priorities outlined in his address to the Joint Money Committees in December, Governor McDonnell has asked for increased support of job creating funds and initiatives as part of his introduced 2013/2014 biennial budget.  He also will advance legislation to increase access to capital for business and implement greater coordination among economic development entities, along with budget items increasing the support of job creation funds and initiatives. 

 

Speaking about “The Greatest Opportunity” agenda, Governor McDonnell remarked, “There is no greater opportunity than a good paying job. A good job is more than a paycheck. It is a source of inspiration, motivation and confidence. It allows an individual to help provide for their family, enrich our Commonwealth and grow our economy. Ensuring that more Virginians can find good jobs, those great opportunities they need and deserve, is the foremost priority of our administration. As we begin our third General Assembly session, we will continue to build on the bipartisan legislative achievements we have implemented thus far that have helped to make Virginia the best place to grow and start a business.  Since taking office, Virginia’s unemployment rate has dropped one percent and we have the third lowest unemployment rate east of the Mississippi River.  Unfortunately, more than 260,000 Virginians are still out of a job, which is unacceptable, and that is why job creation and economic development remains my top priority.  In December, when I introduced my 2013/2014 biennial budget, I said that ‘one of our five core objectives must be prioritizing spending on ideas and policies that promote job creation, economic development and entrepreneurship.’ We must invest in job creating measures and tools to attract and grow business here in Virginia.  During the 2012 General Assembly session, through budget items and legislation, we will advance a number of initiatives that will make it easier for businesses large and small to create jobs and get more people back to work.  The more we can do at the state level to put in place measures that help private sector job creators, rather than hinder their ability to start or grow, the better off Virginia will be in the future. This legislative session is another opportunity to help the private sector create more of the greatest opportunities, good jobs, for our citizens.”

 

Governor McDonnell continued, “One of the biggest issues businesses are running into today is the ability to access capital.  This session we are advancing legislation to reverse this trend through tax credits for small business investments and the acceleration of the Major Business Facility Jobs Tax Credit.  Our intention is that these tax credits will free up more capital for business to put into investments, start up costs and hiring.  We will also advance legislation to increase coordination among our various economic development entities to better support job creators around the Commonwealth.  This includes: adding the Secretaries of Agriculture and Forestry and Technology to the Virginia Economic Development Partnership as voting members; creating an economic development grant program targeted specifically at agricultural and forestry operations; and, adding two university seats to the Modeling and Simulation Advisory Council.  Finally, through a number of budget items, we will continue our work over the last two years to better fund job creating programs and initiatives, such as the Advanced Manufacturing Initiative, Governor's Agriculture and Forest Industries Development Fund and important non-credit courses in our community college system.  The road to economic success in the future is to ensure that we are best supporting Virginia’s job creators today.  Our goal this session, through the passage of these important initiatives, is to create an even stronger environment in Virginia for sustained job creation and economic development growth for years to come. We must do more to bring more great opportunities to work to our talented and innovative citizens. A good job is truly the greatest opportunity of all.”

 

Lieutenant Governor Bolling added, “During the past two years, we have worked hard to reinvest in Virginia’s economic development infrastructure and make job creation the top priority of state government. The results have been impressive, but this is no time to rest on our past accomplishments. That’s why will put forth another aggressive economic development agenda in 2012. With the support of our partners in the General Assembly, these important initiatives will enable us to do even more to make certain that every Virginian who wants a job can find a job.”

 

Barry DuVal, president and CEO of the Virginia Chamber of Commerce, stated, “We urge the General Assembly to support Governor McDonnell’s Jobs and Economic Legislative Agenda. Economic development and job creation initiatives such as these will help improve Virginia’s position in the increasingly competitive global economy and maintain Virginia’s status as the best state in which to live, work and do business.”

 

For more details on "The Greatest Opportunity: Jobs and Economic Legislative Agenda" click here.