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News & Press: 2018 Economic Development News

TSS Today's Clips Friday, April 20

Saturday, April 21, 2018  
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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.

 

Potential downgrade of state debt could be costly to Virginia, analysis shows

A potential downgrade of Virginia’s credit rating could cost the state dearly in future issues of bonds for capital projects, a new analysis shows, and the issue could become a factor in the budget showdown over Medicaid expansion in the General Assembly. The preliminary assessment…

Northam designates 'Opportunity Zones' to attract investment

Gov. Ralph Northam chose chunks of the Roanoke and New River valleys to become “Opportunity Zones” calculated to lure new private investment. This is the rollout of a new economic development program under the December 2017 Tax Cuts and Jobs Act…

South Carolina Senate passes bill that Dominion Energy says could scuttle deal with struggling utility

South Carolina lawmakers advanced a bill this week that Dominion Energy Inc. has said would be a deal-breaker for its proposed $15 billion merger with the state’s SCANA Corp. utility holding company

Virginia to receive nearly $10M to fight opioid crisis

The U.S. Department of Health and Human Services announced Thursday its second year of funding through the Opioid State Targeted Response program…

After seeing glimpse of 5-year budget study, some councilmen suggest it’s time to scale back on projects

Danville could face a $27 million structural deficit in five years if the proposed fiscal 2018-19 budget passes and there are no funding cuts or revenue-generating ideas down the road…

King George takes some measures to help company provide internet service

Because there aren’t any other providers “beating down the door” to bring high-speed internet service to the rural county, the King George Board of Supervisors is willing to help a local company…

Fort Monroe authority prepares proposals seeking commercial leases

The 585-acre former military site, carved up into various parcels, still has shared ownership with the U.S. Army and now the National Parks Service. However, the Fort Monroe Authority is ready to move forward with redevelopment plans…

Philip Morris plunges the most in a decade on slump in cigarettes

GOP-focused media firm plants flag in Richmond

U.S. to fine Wells Fargo $1 billion for misdeeds in auto, mortgage markets

SunTrust warns 1.5 million clients of potential data theft

The Atlanta bank said Friday that it became aware of the potential theft by a former employee and that the investigation is ongoing. Compromised information could include names, addresses, phone numbers and account balances…

Gov. Cooper seeks $130 million for safer NC schools. Here's how he’d spend it

N.C. Gov. Roy Cooper unveiled a $130 million school safety budget Thursday, offering a first glimpse at how the state might respond to the clamor for better protection in the wake of...

Ethics concerns delay Maryland highway oversight contract

Ethics concerns have prompted Maryland officials to delay voting on a $68.5 million transportation contract. The Department of Transportation delayed the vote Wednesday amid questions about the ties between the winning bidder and the state’s transportation secretary…

Maryland ranks No. 1 in U.S. for minority and women businesses ownership, study finds

Maryland has the highest rate of per-capita minority and women business ownership in the United States, a recent study shows. The state has nearly 42 minority owners for every 100,000 residents, according to a survey by Paychex, a payroll, human resources and insurance services company. It also…

Have Medicaid? New Michigan bill may force you to work

The bill would require able-bodied adults who receive Medicaid health care coverage to either work at least 29 hours a week or be enrolled in a job training or education program. They would have to report their family income monthly to the state and within 10 days if there are any changes to that income…

Climate, contracts on table in FERC Pipeline Policy revamp

The Federal Energy Regulatory Commission on Thursday formally kicked off a review of its nearly 20-year-old natural gas pipeline approval policy, and commissioners said they're eager to tackle issues including FERC's reliance on…

Collapse of Public Pension Funds is no longer a distant prospect

Warnings about looming public pension disasters have regularly cropped up since the 1950s, pointing to problems 25 years or more down the line. To politicians and union leaders, the troubles were someone else's predicament. Then crisis fatigue set in as the big problem remained down the road…

Tax debates increasingly settled by voters at ballot box

An increasing number of state and local governments will turn to the ballot box this fall, tax professionals said Thursday, as a way to settle contentious debates over taxes that might otherwise prove unpopular or unpassable by lawmakers…

Virginia makes plans to grow medical marijuana

Virginia’s unlikely to go the Colorado route anytime soon, but the straight-laced Old Dominion has taken an unlikely step in another direction: The state is about to authorize five facilities for growing medical marijuana around Virginia…

Questions about that Chesterfield megasite

Members of Chesterfield’s Planning Commission posed some tough questions to economic-development officials recently. The subject was a proposed industrial “megasite” slated for an area zoned for residential development…

How Liberty University built a billion-dollar empire online

With a hard sell to prospective students and huge amounts in taxpayer funding, Jerry Falwell Jr. transformed the evangelical institution into a behemoth…

 

 

Michael W. Woods
Senior Manager - Virginia

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

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