CENTERS for

Economic Development

The key to a growing economy is increased economic development and a decrease in government intrusion into the market place. As the old saying goes, "A rising tide lifts all ships." That theory applies to economic development. If a vibrant economy is available to Virginia, then everyone benefits -- more people are employed and the tax base allows for adequate funding for government programs. Government policies and actions impact on future economic development and this Center looks at specific issues impacting on economic development based up the Mission Statement of the Thomas Jefferson Institute.

January 2016

Jefferson Journal:  Governor's Corporate Tax Cut Will Have Little Impact
Jefferson Journal: Governor's Corporate Tax Cut Will Have Little Impact — By Michael Thompson  Governor McAuliffe has proposed a quarter of one percent cut in the corporate income tax rate (from 6 perent to 5.75 percent).  This puny tax cut will have a minimal impact on economic growth.  Indeed, it will only create 280 new jobs in five years.  Read More Here!

September 2015

Tax Restructuring in Virginia:  September 2015 Update
Tax Restructuring in Virginia: September 2015 Update —

The Institute has updated its Tax Restructuring in Virginia study, offering 23 different revenue-neutral economic scenarios to expand the state's economy and create more private sector jobs.  A summary was sent to all candidates in this year's General Assembly races in a letter co-signed by the Virginia Manufacturers Association, the National Federation of Independent Business, and the Virginia Retail Federation.

Read the Updated Study Here!

Read the Letter to Candidates Here!

August 2015

Jefferson Journal:  Tax Reform and Job Creation Go Hand In Hand
Jefferson Journal: Tax Reform and Job Creation Go Hand In Hand — In one business survey after another, Virginia is slipping from its high rated position of a few short years ago.  Our economy did not grow last year.  Our growth rate was zero.  And with federal military spending decreasing, our future must be based on encouraging job growth in companies not as reliant on federal dollars as in the past.  So what should this year's crop of General Assembly candidates be suggesting?  Here's one big idea.  Read It Here!

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