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News & Press: 2019 Economic Development News

TSS Today's Clips-Wednesday, January 2

Thursday, January 3, 2019  
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Below are newspaper articles from around the Commonwealth that you may find of interest.These materials are to inform you of developments that may affect your business and are not to be considered legal advice. If you have any questions please contact Mike Woods.

 

Virginia continues falling behind US in economic growth

A new state report says Virginia's economy continued to grow at a slower rate than the rest of the country in fiscal year 2018. Virginia's latest Comprehensive Annual Financial Report says the state continues to fall behind the nation in most areas…

Trump tax cut foiled by State’s itemized deduction rule

Virginia lawmakers have a choice to make during the 2019 legislative session that starts next week: Take steps to change the state tax code or risk a $500 million-plus increase in their constituents’ state tax bills…

Medicaid expansion in Virginia set to begin in the new year

Thousands of uninsured, low-income Virginians will have new health care coverage starting in the new year. Virginia is joining more than 30 states that have expanded Medicaid…

In Richmond, a high-powered lobby stalls rules on high-rate loans

Some Virginia lawmakers have spent years trying to tighten oversight of payday lending. Industry lobbying, backed by millions in campaign donations, has helped stymie them…

Virginia GOP grapples with State’s rapid shift to blue

They won all three top state offices in 2017, captured three House seats and held a Senate seat in 2018 — and now Virginia Democrats say they’re poised to gain control of the state legislature for the first time in two decades. That likely will be a dominant issue this year as…

Senator Dick Black retiring

TBE has learned of an impending announcement from a conservative stalwart in the Virginia Senate. According sources close to Senator Dick Black (R-Loudoun), the Senator is planning to announce later today that he will retire from the Virginia Senate at the end of his current term in January 2020…

Troutman Sanders names new managing partner for its Richmond office

The Atlanta-based firm named Brooks Smith, a veteran environmental and natural resources attorney, to oversee its Richmond office. Smith succeeds John West, who has led the Richmond office since 2011 and will now chair the firm’s business litigation department…

Officials reviewing I-81 backup response

Two weeks after a snowstorm led to an approximately 20-mile, 18-hour long traffic backup on Interstate 81 in Southwest Virginia, authorities are reviewing their response efforts…

Chesterfield abandons East-West Freeway – for now

A controversial south Chester road project has been shelved indefinitely following a policy change by the U.S. Army Corps of Engineers. According to Jesse Smith, director of the county’s Transportation Department, the Army Corps now requires the county…

Hampton Roads cities combine to get funding for internet fiber ring, develop new projects

Hampton Roads may have pulled off that regionalism thing everyone talks about so much — and the payoff could include $48 million, maybe a driverless shuttle bus on the Oceanfront and more storm sensors watching sea-level rise…

Grant could bring broadband to Madison

A grant proposal has been submitted that, if funded, could bring broadband to Madison County. In late October, Madison County resident and Madison Gigabit owner Clint Hyde presented a proposal to the Madison County Board of Supervisors to apply for a grant from…

New developer pursues approved solar farm in Locust Grove

A year after Orange County officials approved the county’s first large-scale solar farm, a new developer is seeking public input on the Route 20 project just a mile from Locust Grove Primary School…

Developer cuts deal with Virginia Beach to build surf park and entertainment center on Dome site

Now, it's up to council members and the Development Authority to approve the project's proposed financing, which includes a $5 million performance grant shared by the city, state and the developer…

Upstart candidates for prosecutor hope to bring reform wave to Northern Virginia

Challengers pushing a progressive agenda on the death penalty, marijuana and other issues are seeking to oust incumbent commonwealth’s attorneys…

Hampton Roads Airbnb hosts earned nearly $19 million in 2018

Compared to other cities in the state, Hampton Roads locales fared well. Charlottesville was neck-and-neck with Virginia Beach, while Richmond and Alexandria had fewer bookings and revenue: 67,800 for $7.8 million and 37,200 for $6.8 million, respectively…

If Ocasio-Cortez's 'Green New Deal' succeeds in 2019 it will be the most radical plan offered in decades

Ocasio-Cortez has been calling for the creation of “Green New Deal” legislation, which would eliminate much of the United States’ fossil-fuel consumption. So far, Sens. Bernie Sanders, I-Vt., andCory Booker, D-N.J., and40 House Democratshave said they support the proposal…

EPA reconsiders need for mercury pollution standards at power plants

The Environmental Protection Agency (EPA) announced Friday it will reconsider the reasoning behind mercury pollution standards for power plants. The current standards…

Drugmakers begin 2019 with price hikes: report

Americans woke up Tuesday to higher pharmacy costs as more than three dozen pharmaceutical companies raised their prices on hundreds of drugs including generic medicines…

19 states are raising their minimum wage Jan. 1. Progressives plan even more for 2020.

Nineteen states will raise their minimum wage on New Year’s Day, delivering relief to low-income workers and validating liberal efforts to bypass Congress and state legislatures and push for pro-working-class policies through ballot initiatives…

Tax Cuts, whale funding and pay bonuses among the priorities in Governors' proposed budgets

Governors in at least eight states as of last weekhadrolled out their latest budget plans, withproposals rangingfrom roughly$1 billion in Washington state to protect endangered whalesto $200 million of sales tax cuts inUtah combined with possible new taxes on services…

'Cannabis equity' runs into roadblocks

The programs provide business development, loan assistance and mentorships to eligible owners. Hundreds have applied in the past year. But “pot equity” has struggled with growing waitlists, and some participants allege that the programs aren’t fair to the people they’re meant to be helping…

Big majority wants tax money returned

While Gov. Ralph Northam and members of the Virginia General Assembly may have differing views on what to do with a $1.2 billion state tax windfall next year…

Thomson: A pressing issue this year: Tax conformity

Another tax filing season is almost upon us, and there’s a pressing issue that will affect whether Virginia taxpayers can quickly and easily file their taxes in the commonwealth: tax conformity…

 

 

Michael W. Woods
Senior Manager - Virginia

Direct: 804.697.2256 | Mobile: 804.339.0260
mike.woods@troutman.com

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