|
REGISTRATION OPEN!
Fantastic 50 Awards
April 27, 2017
Westfields Marriott, Chantilly
Virginia Chamber Annual Dinner
May 11, 2017
The Jefferson Hotel, Richmond
Energy & Sustainability Conference
May 24, 2017
Greater Richmond Convention Center
SAVE THE DATE!
June 8, 2017
Greater Richmond Convention Center
2017 Virginia Workforce & Education Conference
September 28, 2017
Greater Richmond Convention Center |
|
| |
|
President's Message
This month, a number of state rankings articles were released. Virginia was ranked the best state for higher education by SmartAsset, up from 2nd in both 2015 and 2016. While Virginia generally receives high marks in the higher ed category of many rankings, we continue to lag behind in others. For example, the American Society of Civil Engineers Report Card for American Infrastructure gave Virginia a C-. And, US News & World Report's ranking of the 50 states placed the Commonwealth at 11th, citing the economy and infrastructure as areas that need improvement.
As we work to develop and implement Blueprint Virginia 2025, we plan to focus on priorities for growth that will help improve Virginia's business rankings. You can get involved in the Blueprint process by attending a regional meeting this spring, an industry council meeting this summer (dates TBD), or filling out our survey. Learn more about how to get involved
here.
Since the 2017 General Assembly session adjourned, we've been monitoring the Governor's actions on bills. Unfortunately, a number of bills we supported have already been vetoed by the Governor. Legislators are scheduled to return to Richmond on April 5th for Reconvened Session, or "veto session." We plan to send our members a report next Friday with the results of the veto session.
Our team is also busy developing the 2017 Legislative Report Card, which will be released at our Annual Dinner on May 11. If you haven't already, I hope you'll mark your calendars and make plans to join us in Richmond as we honor General Assembly members for their pro-business votes. More information on the Annual Dinner can be found below.
We're also looking forward to a few other spring events. Registration is currently open for the 2017 Fantastic 50 Awards on April 27th as well as the 2017 Energy and Sustainability Conference on May 24th. And, please save the date for our 2017 Health Care Conference on June 8th. As always, you can find more information on all of our upcoming events on our website--www.vachamber.com.
|
April 27, 2017
Westfields Marriott -
Chantilly, VA
6:00 pm - 7:00 pm Reception
7:00 pm - 9:00 pm Dinner
Now in its 22nd year, the FANTASTIC 50 program is the only annual statewide award recognizing Virginia's fastest growing businesses.
Join us as we salute the winners for their entrepreneurial success and contribution to Virginia's economic vitality and connect with 50 successful companies and the teams who helped them achieve this recognition!
THANK YOU TO OUR SPONSORS! CLICK HERE FOR FULL LIST
Platinum Sponsor
Signature Sponsors
|
Thursday, May 11, 2017
The Jefferson Hotel - Richmond, VA
Join us to recognize members of the General Assembly for their support of pro-growth, business friendly legislation during the 2017 Session.
 Featuring a special presentation of the Lifetime Achievement Award to retiring House of Delegates Speaker Bill Howell for his leadership in the General Assembly and service to the Commonwealth.
|
Presenting Bank Sponsor
|
Presenting Law Firm Sponsor
|
|
Business, public policy, and energy leaders chart a sustainable energy future for Virginia with a changing fuel mix and new federal energy policies.
Attendees will have the opportunity to
help set the policy goals for Virginia's energy future through polling for
Blueprint Virginia 2025
. Results will be presented to our next Governor following the 2017 election. Make sure your voice is heard!
Pinnacle Sponsor
Platinum Sponsors
Presenting Law Firm
|
|
SAVE THE DATE!
Join more than 600 professionals in health care and human resources to discuss the future of healthcare.
Attendees will have the opportunity to help set the policy goals for Virginia's health care future through polling for
|
|
Virginia ranked nation's 11th best state by U.S. News
A new U.S. News & World Report ranking of the 50 states lists Virginia as the 11th best state in the nation. U.S. News evaluated states on seven major factors: health care, education, infrastructure, crime and corrections, opportunity, economy and government. Within each of these areas there are several benchmarks-68 metrics in all-which contributed to the state rankings. Virginia received high marks for education, public safety and state government administration. The report identified the economy and infrastructure as areas where Virginia needs significant improvement.
Click here to view the report.
|
|
Virginia ranked as best state for higher education
Virginia has been named best state for higher education by SmartAsset. While Virginia's overall business climate rankings have been falling, the Commonwealth has generally received good marks for higher education.
SmartAsset's rankings are based on undergraduate graduation rate, the average net price, the 20-year return on investment and the student-faculty ratio. According to SmartAsset, "Virginia has one of the highest average graduation rates in our study at 70 percent. And, the average 20-year return on investment for graduates is $442,660, which is the fourth-highest ROI in our study. Additionally, the student-faculty ratio in Virginia rates seventh lowest in the nation."
|
The ASCE's 2017 Report Card for America's Infrastructure
The American Society of Civil Engineers has released their
Report Card for America's Infrastructure. Virginia received an overall grade of C-. The lowest scores come as a result of traffic congestion and an aging wastewater infrastructure. The report also noted that Virginia has:
- 6 percent of its bridges considered structurally deficient
- 23 percent of its public roads considered in poor condition
- 382 dams considered to have safety concerns
- $453 million in drinking water and $6.5 billion in wastewater infrastructure needs over the next 20 years
- $973 million in additional school capital expenditures
|
|
General Assembly Recap with VCTA
Earlier this month, Barry DuVal sat down with Ray LaMura, President of the Virginia Cable Telecommunications Association for an interview about the recently concluded general assembly session and the update to the Virginia Chamber's long-term jobs plan "Blueprint Virginia 2025" on Cable Reports. Click on the image below to view the video.
|
|
Business News
These articles cover mentions of the Virginia Chamber, state and federal policy updates, election news and general business news. Be sure to check back each Friday for a recap of the week's news!
|
2017 Transitioning Military & Employer Networking Receptions
The Virginia Chamber Foundation is partnering with the Virginia Department of Veterans Services on the Veterans Career Network program. The program will capitalize on Virginia's highly skilled veteran talent pool to help strengthen our workforce. We will be hosting military and employer networking receptions designed to provide transitioning service members the opportunity to connect one-on-one with community and industry leaders.
Transitioning service members will gain access to valuable contacts and receive career advice from industry professionals representing local military-friendly companies hiring for jobs in finance, healthcare, shipbuilding, maritime, aviation, logistics, and law enforcement.
To learn more about the program and view a list of the currently scheduled networking events, click here.
|
Call for Nominations for Board of Education's Advisory Committees
The Virginia Board of Education is seeking nominees to serve a three-year term on the following advisory committees appointed by the Board:
* Adult Education and Literacy Advisory Committee (AELAC)
* Advisory Committee for Career & Technical Education
Adult Education and Literacy Advisory Committee
The Adult Education and Literacy Advisory Committee has four vacancies. Priority consideration will be given to:
- Representatives of the following industry sectors: Architectural and Construction; Health Sciences; or Transportation, Distribution and Logistics
- Representative from the Department of Labor - Registered Apprenticeship
The Advisory Committee for Career and Technical Education has six vacancies. Priority consideration will be given to representatives of the following industry sectors:
- Agriculture, Food and Natural Resources; Education and Training; Finance; Hospitality and Tourism; Information Technology; or Transportation, Distribution and Logistics
- Priority consideration will be given to Regions 3, 5, 6, 7, and 8.
Geographical regions noted above are based on the Department of Education Superintendent's Regions.
Nominations may be made by completing the Nomination Form for Virginia Board of Education's Advisory Committees. Please send the completed form to Emily Webb, Director for Board Relations, P. O. Box 2120, Richmond, VA 23218-2120. Nominations may also be submitted by email at [email protected].
Individuals are welcome to nominate themselves.
All nominations must be received by Friday, April 14, 2017.
|
|
Draft Tax Amnesty Guidelines
During the 2017 Session, the Virginia General Assembly enacted legislation that authorizes the Commissioner of the Virginia Department of Taxation to oversee the Virginia Tax Amnesty Program. Under the legislation, the Virginia Tax Amnesty Program will be administered for a period ranging between 60 and 75 days during Fiscal Year 2018. All penalties and 50 percent of the interest will be waived upon payment of the taxpayer's remaining balance. At the conclusion of the amnesty period, any remaining amnesty-qualified liabilities will be assessed an additional 20 percent penalty.
With certain exceptions, any taxpayer who currently has an outstanding assessment, or has not filed a return for any tax administered by the Tax Department, may apply for amnesty. The following taxpayers would not be eligible to participate in the tax amnesty program:
- Any taxpayer currently under investigation or prosecution for filing a fraudulent return or failing to file a return with the intent to evade tax;
- Any taxpayer with an assessment date or due date for an unfiled return less than 90 days prior to the first day of the amnesty program;
- Any taxpayer with an individual, fiduciary or corporate income tax liability for Taxable Year 2016 or after; and
- Any taxpayer with respect to a tax liability attributable to an issue that is the subject of a decision of a Virginia court rendered on or after January 1, 2016.
The legislation requires the Tax Department to issue guidelines for the procedures regarding participation in the Virginia Tax Amnesty Program, as well as any other rules that are deemed necessary by the Tax Commissioner. The Tax Department is currently in the process of developing such guidelines and is soliciting input from interested parties. You can view a description of these guidelines on the Tax Amnesty Guidelines webpage
here. The draft guidelines and other information will be posted on the Tax Department's website in the future.
Please send any comments and questions you may have regarding the development of these guidelines via e-mail to Andrea Muse at [email protected] by the close of business on April 10, 2017.
|
|
State Corporate Income Tax Rates
Forty-four states levy a corporate income tax. Rates range from 3 percent in North Carolina to 12 percent in Iowa. Six states - Alaska, Connecticut, Iowa, Minnesota, New Jersey, and Pennsylvania, and the District of Columbia - levy top marginal corporate income tax rates of 9 percent or higher. Seven states - Arizona, North Carolina, North Dakota, Colorado, Mississippi, South Carolina, and Utah - have top rates at or below 5 percent.
Currently, 6 states -- Nevada, Ohio, South Dakota, Texas, Washington, and Wyoming -- do not have a corporate income tax, and 7 states - Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming - do not levy an individual income tax. Individuals in New Hampshire and Tennessee are only taxed on interest and dividend income.
Virginia has a corporate income tax rate of 6 percent. The corporate income tax accounts for approximately 4 percent of the Commonwealth's general fund revenues.
Several states have passed corporate income tax rate reductions and other reforms. Notable corporate income tax changes for 2017 include:
- North Carolina cut its corporate income tax from 4 percent to 3 percent as the final component of the multiyear phase-in of its comprehensive 2013 tax reform package. North Carolina now has the lowest rate of any state levying a corporate income tax, down from 6.9 percent in 2013.
- Arizona reduced its corporate income tax rate from 5.5 to 4.9 percent.
- New Mexico reduced its corporate income tax rate from 6.6 to 6.2 percent. The rate is scheduled to fall to 5.9 percent in 2018.
- The District of Columbia reduced its corporate income tax rate from 9.2 to 9 percent.
- Indiana will reduce its corporate income tax rate from 6.25 percent to 6 percent on July 1, 2017. The rate will be reduced further to 4.9 percent by 2021.
|
|
Clean Power Plan Rollback
Earlier this week, President Trump issued an Executive Order that directs the Environmental Protection Agency (EPA) Administrator to immediately review the agency's Clean Power Plan (CPP) regulations on existing fossil-fuel power plants, as well as its New Source Performance Standard (NSPS) rule for new plants, and to begin rescinding or altering them as appropriate. in February 2016, the Supreme Court issued a stay of the CPP, halting EPA implementation of the rule during judicial review. The DC Circuit Court of Appeals heard oral arguments in September of 2016, and could issue a decision sometime this spring. Notably, the President's Executive Order also calls on EPA to coordinate with the Attorney General in case he seeks a stay of the litigation itself in light of EPA's review and possible withdrawal of the rules. Consistent with this, on March 28th EPA and the Department of Justice asked the D.C. Circuit to hold both cases in abeyance. Approval of this request would halt judicial review while EPA's regulatory review is undertaken. Regardless of how the court handles this request, President Trump's action on the CPP and NSPS is only the first step in the regulatory process to repeal or amend the CPP and NSPS.
|
|
President Trump's executive order scraps EPA water rule
President Trump has signed an executive order instructing the EPA and the Army Corps of Engineers to reconsider a 2015 regulation often referred to as the "Waters of the United States" (WOTUS) rule. This regulation broadened the definition of the type of water body that would fall under EPA's formidable clean water enforcement powers, making everything from streams to ditches and watering holes subject to the EPA's and Army Corps of Engineers' oversight. Numerous business associations and at least thirty states filed lawsuits in opposition to the WOTUS regulation.
|
|
President Trump Holds CEO Brainstorming Session with Manufacturers
President Trump met with two dozen CEO's of American Manufacturers last month for a "listening session." Vice President, Mike Pence, and Treasury Secretary Steve Mnuchin also attended. The meeting grew out of President Trump's December announcement of an advisory council on manufacturing. Prior to the meeting, the executives formed working groups along with Administration officials to explore policy changes on topics such as infrastructure, taxes, trade, and regulation. Executives interviewed after the meeting, said they were "very encouraged" by the pro-business approach being taken by the Administration.
To read the full article, click
here.
|
Interested in International Expansion? Take Advantage of VITAL!
The Virginia Chamber is proud to partner with the Virginia Economic Development Partnership on VITAL, the Virginia International Trade Alliance. As a VITAL partner, our member companies have access to steeply discounted rates for international market research as well as international trade shows and international trade missions facilitated through VEDP.
Click below for more information:
If you or a company that you work with is interested in learning more about VITAL, please contact Samantha Quig, Director of Communications and Program Manager, at [email protected] or 804-237-1457.
|
|
Keep up with the Virginia Chamber on Twitter!
|
|
| |
|
