RICHMOND, VA – Delegate Torian is pleased to report that his bill to authorize local governments to provide incentives and regulatory flexibility for defense contractors (HB406) has passed the House of Delegates unanimously.
“Federal procurement accounts for nearly one third of Virginia’s economy; defense spending alone is responsible for one in five jobs in the Commonwealth. I am pleased that this bill will maintain and expand Virginia’s job creating defense industries,” Delegate Torian said in his office after the House of Delegates adjourned for the day.
In 2011 both the House of Delegates and Senate passed a similar bill that created a ‘defense production zone’ that gave localities the flexibility to create specifically zoned areas exempt from certain ordinances, provided for reductions in permit fees and Business/Professional/Occupational License (BPOL) taxes.
Delegate Torian’s bill will extend these provisions to include defense contractors, an industry that provides for innumerable jobs to citizens in his district and other parts of Northern Virginia as well.
The bill is supported by the Virginia Economic Developers Association, the Virginia Municipal League, and the Virginia Chamber of Commerce.
In addition, Delegate Torian is pleased with the success of his bill (HB403) which requires 30 percent of the jobs created through grants from the Governor’s Development Opportunity Fund to be filled by Virginia residents. Representatives of the Virginia Economic Development Partnership met with Delegate Torian and agreed to include elements of the language from HB403 into the Opportunity Fund’s Performance Agreement. The newly revised language states that “the company is strongly encouraged to ensure that at least 30 percent of new jobs are offered to residents of the Commonwealth.” As a result, the Virginia Economic Development Partnership will now ensure that companies that are supported by the Governor’s Opportunity Fund will strongly consider Virginia residents for at least 30 percent of their new hires.
Delegate Torian will continue to monitor all bills that encourage job creation in Virginia. HB406 now moves forward to the Senate.