Requesting the Joint Committee on Government and Finance study economic policy strategies and incentives for drawing into West Virginia employers employing 50 persons or less located in high tax, high regulation, anti-competitive locations out of state
Impact
The proposal highlights West Virginia's desire to become a more attractive destination for small businesses currently struggling in high tax, highly regulated environments, such as major cities like Boston, New York City, and San Francisco. If enacted, HCR105 could potentially lead to legislative changes aimed at providing financial incentives, thereby promoting local economic growth and job creation. The successful relocation of these employers may also influence the state's overall business environment, making it more competitive relative to other states.
Summary
House Concurrent Resolution 105 (HCR105) is a legislative request from Delegate Howell, introduced on March 10, 2022. The resolution calls for the Joint Committee on Government and Finance to explore economic policy strategies and incentives to attract small employers—specifically those with 50 employees or fewer—from high tax and highly regulated areas out of state into West Virginia. The proponents argue that relocating these businesses to a more favorable pro-business climate in West Virginia could lead to improved financial outcomes for these firms, thus bolstering the state's economy.
Sentiment
The sentiment surrounding HCR105 appears to align with a pro-business outlook that resonates with stakeholders interested in enhancing West Virginia's economic landscape. Proponents of the bill likely view it as a strategic move to not only attract businesses but also diversify the local economy. However, the resolution does not appear to address potential challenges or concerns, such as the specifics of how such incentives would be structured or funded, leaving open questions that could impact its reception among stakeholders.
Contention
While the resolution emphasizes the benefits of attracting small businesses, there could be significant points of contention regarding the feasibility and implementation of these proposed incentives. Critics may raise concerns about the allocation of state resources for incentivizing businesses located in specific sectors, as well as the potential impact on local economies and existing businesses in West Virginia. The study mandated by HCR105 needs to ensure comprehensive evaluation and transparent reporting to address these concerns before any changes to state laws are considered.
Requesting the Joint Committee on Government and Finance to study the feasibility, costs, and policy considerations associated with providing cost-of-living adjustments for public school teachers, school service personnel, and members of the West Virginia State Police.
A BILL to amend and reenact §§ 2.2-1604, 2.2-4303, 2.2-4310, 9.1-108, and 9.1-112 of the Code of Virginia, relating to Department of Small Business and Supplier Diversity; Virginia Public Procurement Act; definition of "small business"; direct procurement; set-asides.