Economics & Economy

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It’s been difficult to attract business and provide more opportunities to some of the more economically distressed parts of Virginia, but there’s hope for those areas through the national tobacco settlement. Although the money is being applied to areas within the Commonwealth’s tobacco region, HOW it's being applied will directly impact surrounding areas and indirectly boost the state's economy.

The governor’s speech was not well received in certain circles.  Some democrats and economists say McDonnell  should not claim credit for low unemployment or another budget surplus.

Under his leadership, the governor says Virginia has created more than 172,000 new jobs and the unemployment rate is just 5.5% -- the lowest in the Southeast.  UVA economist Terry Rephan says Virginia does better than other states when it comes to employment, regardless of who is governor.

Commonwealth Ends Fiscal Year with Surplus

Aug 19, 2013

Governor McDonnell has announced a $585-million surplus for the state fiscal year that ended in June. 

The General Assembly’s money committees greeted him with warm applause before he outlined the condition of the Commonwealth’s budget outlook. 

The Governor shared the credit and thanked lawmakers of both parties for work that’s resulted in surpluses during a tough economy.

The Money Game

Aug 14, 2013

As the saying goes, it takes money to make money.  But where does that leave the four billion people around the world who live below the poverty line? 

A Virginia Tech Professor is tackling that problem from a new perspective.  

Most people have heard the term ‘micro finance.’  Cooperatives lend small amounts of money to entrepreneurs and small businesses. The concept began in developing nations to help women start their own businesses. Experts say poor people who receive these loans repay them at the astounding rate 99.7%.

Get Fresh!

Aug 12, 2013
Tricycle Gardens

A food desert is a neighborhood with no supermarkets – a place where you can’t buy fresh fruits or vegetables.  The small corner stores carry canned and dried food that keeps well on the shelf but is less nutritious than fresh produce, often high in fat and sugar. 

For a city of its size, Richmond, Virginia is the worst food desert in the nation, but an effort is underway to fix that problem.

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