Governor-elect Glenn Youngkin gives roadmap for economic growth at Virginia Chamber summit

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RICHMOND, Virginia (WRIC) – Governor-elect Glenn Youngkin presented his roadmap for economic growth at the 2021 Virginia Economic Summit and World Trade Forum.

Youngkin’s speech on Friday was part of the Virginia Chamber’s release of the “Virginia 2030 master plan”. The report is an action plan for economic development that describes the challenges and objectives of the projects before the term of each new governor. More than 7,000 Virginians have offered recommendations on this on a series of regional tours over the past 12 months.

After announcing he received his recall on Friday morning, Youngkin vowed to end the uncertainty surrounding COVID-19 closures.

“Virginia will be open for business. We will end fears of a lockdown because there will not be one and we will end anti-business policies, ”Youngkin said.

Youngkin described his plan to respond to what the new report has found to be the top priority of the business community in all regions: improving workforce development. When asked if Virginia is doing a good job of preparing the workforce businesses need, nearly a quarter of those polled disagreed.

Source: Virginia 2030 Master Plan

Youngkin has set a number of goals to address this, including providing vocational and technical training in every public school, expanding access to accreditation programs, and increasing higher education partnerships with the private sector.

We need a statewide vision to grow Virginia’s talent supply to ensure it aligns with future and current business needs, ”said Youngkin.

Youngkin focused on expanding Virginia’s broadband and power capacity. He reiterated his intention to reduce trade regulations. He also pledged to support legislation that would allow small businesses to come together to offer competitive healthcare benefits with large employers.

“When this invoice hits my desk, I’ll sign it,” Youngkin said.

Governor-elect added Virginia needs to lower its cost of living to attract and retain talent by suspending gasoline tax, eliminating tax on groceries, doubling standard pledge, offering refund single tax and exempting part of the veterans’ retirement from Imposition.

“Based on a lot of discussion, these issues are becoming bipartisan, so I encourage Northam to include them in his two-year budget,” Youngkin said. “For too long, Richmond has believed that the best source of sustainable government revenue is higher taxes. I fundamentally disagree.

A spokesperson for Governor Ralph Northam responded in a statement.

Governor Northam is proud of Virginia’s booming economy, and it is good to see the Governor-elect recognize that fact. Governor Northam’s prudent fiscal management has resulted in Virginia’s largest surplus in history, recognition as the best state for business three years in a row, and a record amount of savings in the state’s financial reserves. I would point out that these proposals are far from new – Governor Northam has come forward in favor of eliminating the tax on groceries during his 2017 campaign for governor, and he worked during his tenure to make it a financial possibility. The governor is still in the process of developing his budget and will come forward with historic proposals over the next few days.

Alena Yarmosky, spokesperson for Governor Ralph Northam



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