Commission on Economic Development Meets Again

The group of legislators, cabinet members, business leaders and lobbyists were charged by Governor Bob McDonnell with the task of finding ways for Virginia to compete more effectively with other Southern states in attracting business to the Commonwealth.  They have been working in nine subgroups over the past month and returned yesterday with 115 preliminary proposals to grow business and create new jobs.

Among the recommendations are establishing a new fund for tourism development and another for emerging technologies, as well as various tax reforms.

The Governor told committee members yesterday that economic recovery on the state and national level will be slow and challenging, which only makes the group’s work more important.

McDonnell:  The more that we do to be able to give people confidence that we’re gonna turn the corner, to be able to bolster consumer confidence that it’s ok to start spending again and investing again, the more we can tell the small business entrepreneur that it's okay to take those risks that are at the heart and soul of the free enterprise system, then the sooner and better and faster Virginia turns out of this economic downturn.

The group is set to deliver their final recommendations to the Governor on October 16th.

Craig Carper, WCVE News, Capitol Square