Gov. Bob McDonnell is asking state lawmakers for about $37 million to fund another round of economic initiatives.
Of that amount, $10 million would support programs to foster the life sciences industry in the state and another $4 million is earmarked for Wallops Island launch site improvements.
"Jobs is still job one for our administration," McDonnell said today at a news conference in Richmond.
Through the upcoming two-year budget as well as through legislation, McDonnell is proposing a new small business investor tax credit, an economic development grant program for agricultural and forestry operations, millions more for tourism advertising and $500,000 for offshore wind energy.
The General Assembly, which meets in Richmond Jan. 11 for the start of the 2012 session, will consider the proposals.
Lt. Gov. Bill Bolling, the state's chief job creation officer, said the $37 million package, if passed, would build upon the roughly $100 million in economic development initiatives approved in the past two years.
"This is the most diverse economic development agenda that we have proposed" during the McDonnell administration, Bolling said during the news conference.
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