- Report Published -
|The Measures Necessary to Assure Virginia's Economic Recovery|
|HJR 433 (1991)|
|The commission recommends the following goals and strategies:|
Virginia will pursue global trade and open new markets.
* Link Virginia businesses with export market opportunity data banks.
* Create an export loan guaranty program managed by the Virginia Small Business Financing Authority.
* Develop the "Capital Headquarters" initiative to match Northern Virginia office space with companies wanting to locate in the Washington area.
* Develop an aggressive domestic and international "New Markets" program for Virginia agriculture, seafood, forest products, coal, and tourism.
Virginia will become a national leader in scientific and technical research and commercialization of emerging technologies.
* Complete the nation's first statewide, state-of-the-art communications technology network for our homes, classrooms, and businesses.
* Create three specialized technology centers - the Center for Software Engineering, in Northern Virginia; the Center for Applied Light Source and Materials Research at Hampton Roads; and the Center for Biomedical Research at Richmond at the Medical College of VirginiaVirginia Commonwealth University - and continue to support the Center for Fiber and Electro=Optics in Blacksburg.
* Hold the first World Technology Fair in Virginia.
* Intensify the state's economic conversion effort to help localities respond to defense spending reductions.
* Eliminate the Business Professional Opportunity License (BPOL) tax on selected activities of Virginia technology firms doing business with the Federal Government.
Virginia will challenge its businesses and citizens to save and invest.
* To encourage individuals to save, exempt from state taxes the first $250 in interest on personal savings.
* Stimulate reinvestment of corporate profits in new business activity through state investment tax credits.
* Exempt long-term capital gains from personal and corporate income tax.
* Encourage the Virginia Retirement System to invest up to one percent of its assets in Virginia venture funds.
* Encourage VEDCORP to broaden its mission to a state-wide focus.
Virginia will develop the highest quality, most productive workforce in America by 2000
* Act quickly to expand adult literacy and workplace training programs by creating 18 new employee development positions.
* Create the "Virginia Enterprise Extension Service" based on the agriculture extension model.
* Create a blue-ribbon "Leadership 100 Commission" to devise fair, reliable, comprehensive methods to pay for Virginia's education reform and innovation plans.
* Support or introduce a General Obligation Bond referendum package of up to $1 billion to finance capital investments in community colleges, college and university facilities, and selected state parks and natural areas.
Virginia will have the most productive, best managed state government in the nation by 1998.
* Set up a state government working group to integrate critical elements of a consumer-responsive quality management process.
* Establish the "Virginia Government Managing for Excellence Commission" to recommend reforms in state civil service rules.
* Increase appropriations for the state departments of air pollution and solid waste to reduce the backlog of permit requests.
* Make the process of developing regulations ore predictable, more measurable and more favorably inclined towards conflict resolution.
* Establish an "Environmental Roundtable" to resolve specific areas of conflict and controversy in environmental regulation.
* Create a $10 million deal-closing fund to give state and local economic development officials an extra tool for recruiting business and industry.
* Authorize the Virginia Housing Development Authority to increase participation in the Buydown and Operation Boot-Strap programs.
* Support the Virginia Procurement Pipeline project to stimulate Virginia companies to buy from one another.
The report which follows details strategies we propose to achieve these goals. As with any group involved in the challenging process of democratic public policy development, there was not always unanimity. While some individual members differed with specific strategies, the full commission endorsed the package as a whole. This set of recommendations is truly bipartisan and broadly based and reflects the intelligence, creativity, and courage of the people of Virginia.