The Potomac Local took a look at Virginia’s stagnant economy in its story “What will it take to make Virginia number one for business again?”
“As residents leave to find new jobs in other states, companies have been reluctant to invest in Virginia for reasons like higher taxes, federal sequestration, and what [Stephen Moret at Virginia’s Economic Partnership] called negative perceptions about the state. Washington, D.C., and its Virginia suburbs consistently rank 2nd on national lists of worst traffic congestion. ‘Virginia remains a well-viewed state, but it is not as well viewed as it was several years ago,’ added Moret in a later email to Potomac Local. He said the state also needs to spend more on marketing to attract new companies to the Commonwealth.”
Earlier this month, Chief Executive magazine released its 2017 Best & Worst States For Business rankings in which Virginia dropped 3 spots. Virginia ranks 15th this year, behind neighboring North Carolina (#3) and Tennessee (#7). Prior to that, S&P Global Ratings changed the outlook on Virginia’s status from stable to negative.
These are clear signs that Virginia’s economy is stuck, and we are falling behind our neighboring states and it’s having negative consequences for Virginians. For three straight years, more people have moved out of Virginia than into Virginia, according to the University of Virginia’s Weldon Cooper Center.
Ed knows we need to make a change. He’s already putting forward substantive policy plans, including the “Cutting Taxes for ALL Virginians” Plan. His plan will spark natural, organic economic growth to diversify our Virginia economy. According to an independent economic analysis, this plan will create 53,000 new full-time private-sector jobs when fully implemented Virginia’s economy should be oriented toward start-ups and scale-ups, entrepreneurs, and small businesses to make Virginia more competitive.
This week, he put forward the ‘Removing Barriers to Job Creation for ALL Virginians’ Plan to create an environment that will allow Virginia’s small businesses to grow and create jobs. Ed’s plan will bring meaningful reform to remove barriers to job creation, making it easier for businesses to grow and thrive in the Commonwealth.
With our vast natural resources, our fertile lands, our port, our people, our great public and private colleges and universities, our natural beauty, and historic landmarks, Ed knows Virginia should be in first in the nation when it comes to economic growth. He’ll continue to put forward policies to get Virginia growing again.