HamptonRoads.com / PilotOnline.com Posted February 18, 2014
By: Bill Nusbaum, an attorney, is vice chairman of the legislative affairs committee of the Hampton Roads Association for Commercial Real Estate, HRACRE
In the highly competitive global marketplace of economic development, states must use incentives to attract major business investments. Virginia offers several incentives, but its biggest weapon is the governor’s deal-closing fund, called the Governor’s Development Opportunity Fund.
The governor must use the fund to attract economic development prospects and secure expansion of existing industry in the state. Unfortunately, Virginia rarely competes aggressively for many projects because the legislature seldom appropriates enough money for the fund. . . . click here to view entire article >>> HamptonRoads.com-Nusbaum article_2-18-14