Business + Economic Development
Youngkin pitches tax relief for tipped workers in budget plan
Gov. Glenn Youngkin served more than pancakes and coffee at McLean’s Restaurant in Richmond Monday morning. He also unveiled another key part of his budget proposal: eliminating state taxes on tipped employees. Describing the measure as a “foundational piece” of his budget, which he is expected to present before a joint meeting of the legislature’s […]
US adds 227,000 jobs in what analysts say is a healthy economy
The economy added 227,000 jobs in November, making for a strong jobs report despite a slight increase in the unemployment rate. Although the labor market has cooled this year, the Trump administration stands to inherit a fairly healthy labor market, with decent job growth across many sectors. The number of jobs was bolstered by the […]
The resurrection of Hotel Petersburg
Vacant since the 1970s, Hotel Petersburg is about to make the comeback of the year when it reopens its doors on December 5. It’s the latest sign of progress for a city long beleaguered by economic woes and government dysfunction but that has in recent years mounted a rebound campaign aided by state funds and […]
Fed cuts interest rates heading into end of Biden White House and looking to Trump’s 2nd term
The Federal Reserve cut its key rate on Thursday — one of many factors that will decide what kind of economy Americans remember from President Joe Biden’s final days in office and what President-elect Donald Trump is left with at the start of his second term. The Federal Reserve cut the rate by a quarter […]
Rhetoric versus reality: Addressing common misconceptions about the economy
The economy is key to many voters in their pick for president, but that fervor also makes it an attractive subject for distortions, misinformation, and oversimplification. Nearly eight in 10 U.S. voters say that the economy is one of the most important issues to them in this upcoming presidential election, according to an AP-NORC poll conducted in […]
Trump vows to levy ‘horrible’ tariffs on imports, rejecting fears of inflation spike
Republican presidential nominee Donald Trump defended his plans for steep tariffs on Tuesday, arguing economists who say that those higher costs would get passed onto consumers are incorrect and that his proposals would benefit American manufacturing. During an argumentative hour-long interview with Bloomberg Editor-in-Chief John Micklethwait hosted by the Economic Club of Chicago, Trump vehemently […]
Virginia develops workforce as demand for electrification grows
This is the final story of a five-part series about Virginia’s transition to electric vehicles that examines the government’s role in the process, the private industry’s status, the development of charging infrastructure in the state, EVs’ impact on the electric grid, and how the commonwealth’s workforce may be influenced by the growing industry. As the […]
Unemployment ticks down, labor market remains strong, latest numbers show
A month before voters cast their ballots, the U.S. Bureau of Labor Statistics released a report showing a strong labor market with growing wages, a lower unemployment rate, and the addition of 254,000 jobs to the economy. Eighty-one percent of registered voters say the economy is key to their vote for president this fall, according to a September Pew […]
Kiggans and Smasal face off in highly competitive 2nd District
Republican incumbent U.S. Rep. Jen Kiggans faces Democratic challenger Missy Cotter Smasal this year in Virginia’s 2nd Congressional District. Both Navy veterans have been involved in their local communities for years – Kiggans as a former state senator and Smasal as a member of the Chesapeake Bay Commission. While both women share some priorities, like […]
U.S. Senators, Richmond housing expert discuss how to ease nation’s affordable housing crisis
WASHINGTON – Conversations about things like zoning laws, permits, or use of housing subsidies typically happen in city or county government chambers rather than those of the U.S. Senate. But people in localities across the nation, including Virginia, are experiencing the persistent challenges of finding and affording a place to live. So, the Senate’s budget […]
In swing states that once went for Trump, unions organize to prevent a repeat
Editor’s note: This is part of a five-day series explores the priorities of voters in Arizona, Georgia, Michigan, Nevada, North Carolina, Pennsylvania and Wisconsin as they consider the upcoming presidential election. With the outcome expected to be close, these “swing states” may decide the future of the country. Wisconsin carpenter Efrain Campos just retired this […]
When business is booming but daily living is a struggle
Editor’s note: This is part of a five-day series explores the priorities of voters in Arizona, Georgia, Michigan, Nevada, North Carolina, Pennsylvania and Wisconsin as they consider the upcoming presidential election. With the outcome expected to be close, these “swing states” may decide the future of the country. ROCKY MOUNT, N.C. — The signs on […]