UPDATED: U.S. Chamber praises Virginia for free enterprise policies
Here's an award Gov. Bob McDonnell (R) will undoubtedly crow about -- Virginia has been labeled not just a good place to do business by the U.S. Chamber of Commerce, but among those states that do the most to promote free enterprise by spurring private economic development.
The chamber's report found that Virginia has achieved the country's second highest growth performance and has been first in cost-of-living adjusted family income growth. The state has ranked 10th in entreprenuership and innovation (Maryland ranked third) and sixth in a taxation and regulatory environment that spurs business. (McDonnell would probably like to climb that list a few spots in coming years.)
"By embracing many of the strategies at the core of our free enterprise system -- competitive tax rates, open trade, and commonsense regulation -- states are helping to jumpstart our economic recovery and create more jobs," wrote Thomas J. Donohue, president and CEO of the U.S. Chamberin a letter to McDonnell about the report.
UPDATE 5:26 p.m.: Do we know how to call these things? McDonnell's office has just put out a release on this report. Indeed, he is pleased:
The foremost priority of this Administration is creating good jobs for our citizens and revitalizing Virginia's economy. This report demonstrates that Virginia's reputation for being the best state in America in which to do business is well deserved. While job creators know that Virginia is a location where they can grow their businesses and succeed, we know that in the competitive global marketplace we cannot just rest on our laurels. We won't be pleased until Virginia leads the nation in every pro-business survey and category, and we won't rest until every Virginian can find a good-paying job in the city or county they call home. Since taking office we have dramatically increased the resources available for state economic development efforts. We kept taxes low by closing an historic budget shortfall through reductions in spending, not tax hikes. And we have put together a job creation team that is focused everyday on identifying and securing new job-creation opportunities for Virginians. The recent announcement that Fortune 100 Company Northrop Grumman is moving to the Commonwealth was proof that our aggressive approach to growing Virginia's economy and creating jobs is working. It is just a start. I look forward to many more positive announcements about new jobs coming to, and being created in, Virginia in the years ahead.
May 19, 2010; 12:35 PM ET
Categories: Robert F. McDonnell , Rosalind Helderman
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Posted by: WeThePeopleofVirginia | May 19, 2010 2:35 PM | Report abuse
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