In the last 20 years, Virginia’s manufacturing sector has declined by 46%.
Given the fierce competition worldwide to attract businesses, state lawmakers are examining whether it makes sense to restructure the Commonwealth’s state and local tax system to remove financial hurdles to doing business here.
Every five years, Virginia requires cities and counties to update plans for development – how and where they’ll grow.
Many communities assume growth is good – and some even offer tax breaks to attract new industries and businesses, but a new report by Charlottesville economist David Shreve and planning consultant Craig Evans suggests that’s not the case if new companies hire people from elsewhere.
Officials in Virginia are bracing for the impact of the federal budget cuts that start trickling down. Lawmakers in the commonwealth disagree about what should be done with the sequestration.
So now they’re dealing with the fallout: cuts to education, housing, healthcare, conservation programs – the list is seemingly endless. Virginia Democratic Senator Tim Kaine says many federal workers and contractors in the commonwealth will feel those cuts directly.