McDonnell unveils economic development package

Virginia Gov. Bob McDonnell unveiled an economic development package Wednesday that includes $37 million, tax credits for small businesses, grants for agricultural and forestry operations and greater coordination among economic development entities.


Virginia Gov. Bob McDonnell announces his legislative agenda during a news conference at the Capitol in Richmond on Wednesday. (Steve Helber/AP)

About $10 million would support programs to foster the life sciences industry and $4 million is earmarked for Wallops Island launch site improvements.

“Jobs is still job one for our administration,” McDonnell said at a news conference on Capitol Square.

McDonnell (R) was joined by Lt. Gov. Bill Bolling (R), Virginia’s chief jobs creation officer, and a host of business leaders.

He will unveil other legislative proposals before the General Assembly returns next.

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