McDonnell To Name Bolling Virginia's Chief Job Creation Officer

McDonnell/Bolling announce plans to expand Governor's Opportunity Fund; Designate Deputy Secretary of Commerce for Rural Economic Development; Increase eligibility for Virginia's Major Business Facility Job Tax Credit

RICHMOND - Republican gubernatorial candidate Bob McDonnell joined Lieutenant Governor Bill Bolling earlier today in announcing several new initiatives to help get Virginia's economy growing again and create jobs.  Central to the announcement was McDonnell's decision to appoint Lieutenant Governor Bolling to serve as Virginia's Chief Job Creation Officer.

Additionally, Lieutenant Governor Bolling announced the kickoff of his statewide "Jobs for Virginians" tour, which will start on Friday in Winchester.  Each week between now and Election Day, Bolling will visit a different region of Virginia to talk to local business owners about the challenges facing their companies and what we can do to create new jobs.

"I am honored that Bob has asked me to serve as Virginia's Chief Job Creation Officer'," said Bolling. "During my first term as Lieutenant Governor, I have used my office to help promote a number of special projects.  With this announcement today, we are telling the people of Virginia that in a McDonnell/Bolling administration the Lieutenant Governor's primary focus will be on creating jobs for Virginians.  I am excited about the opportunity to coordinate the Commonwealth's numerous economic development programs and work with business leaders to get our economy growing again."

To spur job creation in Virginia, McDonnell and Bolling called for:

• Appointing Lieutenant Governor Bolling to serve as Virginia's Chief Job Creation Officer in the McDonnell/Bolling Administration

• Doubling the size of the Governor's Opportunity Fund and broadening Fund rules to allow companies that generate additional state and local tax revenue to qualify

• Designating one Deputy Secretary of Commerce to focus solely on rural economic development

• Providing a $1,000 tax credit per job to businesses that create 50 new jobs, or 25 new jobs in economically distressed areas

McDonnell noted, "In a McDonnell/Bolling Administration job-creation will be job number one. To ensure that we are focused on the goal at hand, and that we do not miss any potential opportunities to help Virginians get the good paying jobs they deserve, I will appoint Bill Bolling to serve as Virginia's Chief Job Creation Officer. In this capacity he will coordinate economic development and job creation initiatives occurring in Virginia government. Bill's background in private business and in the General Assembly makes him uniquely suited to successfully navigate the complicated intersections between private sector opportunities and the state government assistance that can be essential in making sure these opportunities are realized. By having Bill serve as Virginia's "Jobs Chief", we will bring the big picture perspective to job creation that is so crucial during this difficult period for Virginia workers."

Bolling stated, "The most important issue currently facing Virginia is the need to get our economy moving again and create jobs for Virginia's families.  In the past four years our unemployment rate has increased by 130%, from 3% to 7.1%.  This is the highest prolonged rate of unemployment in 20 years and 165,000 more Virginians are unemployed today than four years ago.  We have to do everything we can to get laid off Virginians back to work, and Bob McDonnell and I have a detailed plan to do just that."

Bolling added, "By increasing the size of our economic development incentive fund and expanding access to the Job Creation Tax Credit, we can attract more businesses to Virginia.  We will also ensure greater focus and coordination of job creation efforts by having the Lieutenant Governor serve as the Commonwealth's Chief Job Creation Officer, and we will place a greater emphasis on rural economic development by designating a Deputy Secretary of Commerce and Trade to do nothing but recruit new businesses to rural parts of Virginia, where jobs are desperately needed.  These actions, together with our More Energy, More Jobs program, and reforms we have previously announced for small businesses and higher education, will position Virginia now to take full advantage of a future economic resurgence.  This is the kind of leadership the people of Virginia are looking for from their next Governor and Lieutenant Governor, and this is the kind of leadership that Bob McDonnell and I will provide."

Bill Bolling has worked for 30 years in the insurance industry. As a State Senator, Bill received a 100% pro-business rating from Virginia FREE, as well as the Guardian of Small Business Award from the National Federation of Independent Businesses. During his time as Chairman of the Hanover County Board of Supervisors, Bill served as Chairman of the Greater Richmond Economic Development Partnership. Bolling also served as Co-Chairman of McDonnell's Government and Regulatory Reform Task Force.

 

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