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NVTC Signs On to Support GO Virginia Campaign to Promote Growth and Opportunity in the Commonwealth

Last week, NVTC announced its support for Go Virginia, a campaign initiated by the Virginia Business Higher Education Council (VBHEC) and the Council on Virginia’s Future to foster private sector growth and job creation through state incentives for regional collaboration by business, education, and government.

GO Virginia was launched on July 28 in a series of events throughout the Commonwealth of Virginia. NVTC Vice President of Policy Josh Levi attended the Richmond news conference along with business leaders, senior state and local officials, education leaders, and representatives of business and economic development organizations. The event included remarks from Gov. Terry McAuliffe, as well as NVTC Board members Tom Farrell, chairman, president, and chief executive officer of Dominion Resources, and Teresa Sullivan, president of the University of Virginia.

Bipartisan and business-led, the GO Virginia coalition favors state incentives to encourage collaboration among business, education, and government in each region, providing a framework for implementation of the private sector-focused strategies of leading business organizations and political leaders in both parties. The coalition believes the state can incentivize private-sector growth in the following areas:

  • Innovation: The State can promote innovation and growth in each region through start-up grant support for projects that promise substantial economic impact, leverage significant local, private, and other investment, and reflect regional cooperation on industry sector growth, alignment of education and training programs with employer demand, entrepreneurship, and other private sector-focused growth strategies.

  • Investment. The State can encourage cooperation rather than competition among localities in the recruitment of new business investment and jobs to each region by returning a portion of the state tax revenues generated by projects to regions where localities share economic development-related costs and revenues.

  • Improvement. The State can provide financial incentives for efficiency-enhancing and cost-saving collaboration between and among local governments, school divisions, and higher education institutions, thereby improving performance, reducing pressures to increase the size and cost of government, and freeing up tax dollars for opportunity-focused initiatives in education, job training, and economic development.

  • Invention. The State can encourage inventions and discoveries that lead to commercially viable products and services by providing matching-fund support for labs, equipment, and other research-related needs, thereby leveraging private and other R&D investments and generating economic benefits for the region.

  • Infrastructure. The State can invest in capital projects of regional or broader significance that will produce strong returns in private-sector growth, diversification, and job creation through improved education and job-skills training, research, business site development, communications, and other vital infrastructure.

    “NVTC is pleased to support GO Virginia and its mission of bringing together regional organizations and leaders to drive economic growth and private sector job creation,” said NVTC President and CEO Bobbie Kilberg. “We look forward to working with the policy and business leaders of Northern Virginia to promote and incentivize innovation, investment, improvement, invention and infrastructure in our community.”

    Learn more about GO Virginia at www.govirginia.org.