The budget directed $35 million to the
GO Virginia Initiative
focuses on promoting private-sector growth through regional government, businesses and educational collaboration. The Council on Virginia's Future shall work cooperatively with the Department of Housing and Community Development in establishing GO Virginia, pursuant to the provisions of HB834 and SB449. The Chamber joined a broad coalition of business groups in support of the initiative. We are confident the pieces are in place to make our region competitive when it comes time to fund projects.
Early in session the Chamber joined a coalition in support of Research and Development tax credits
. The legislative package moved through both chambers and Governor McAuliffe has signed
is on the Governor's desk. This is a big accomplishment and will keep Virginia and our region competitive for existing and incoming businesses.
The budget provides $750,000 in the first year and $1.25 million in the second year for a pilot project to support the development of business ready sites for industrial development. Specific to our region,
a budget amendment in HB29
(2014-2016 budget) has language that allows the Governor to provide $1.5 million from the Commonwealth Opportunity Fund to assist Botetourt County with site improvements related to the possible location of a major automotive manufacturer in our region, should the Governor deem it necessary and appropriate.
for support of the GO Virginia Initiative and for results-oriented economic development programs that encourage regional cooperation.