Richmond, VA January 28, 2010 - Delegate Barbara Comstock joined Governor McDonnell last night for the Governor's response to the State of the Union where the Governor focused on the need for jobs being the number one priority for Virginia.  Earlier this week, Delegate Comstock joined a bipartisan group of legislators to discuss the Governor's jobs and opportunity agenda that will promote economic growth and increase jobs for Virginians.

Delegate Comstock released the following statement today with Governor McDonnell:

"It's an honor to work with Governor Bob McDonnell and our entire General Assembly on a 'jobs and opportunity' agenda for Virginia. Last night the Governor set out a positive jobs focused agenda that promotes entrepreneurship and innovation so that we can better compete in these tough economic times. In Virginia we understand that you can't keep piling on more regulation, more taxation and more litigation without killing jobs and hurting the middle class.

Earlier this week, I was pleased to join the Governor, along with Northern Virginia leaders such as Jim Cheng, our new Secretary of Commerce and Trade and a bipartisan group of General Assembly members to discuss our much needed job creating legislation. We are all committed to promoting an environment in which businesses can thrive and we can unleash the entrepreneurial spirit of Northern Virginia."

Comstock went on to say, "These are tough times for families and businesses in Virginia and I'm committed to working with our Governor to promote job growth and make sure that Northern Virginia remains the economic engine of our state and one of the top places to do business in the country. At a time when businesses across the country fear massive new taxes and massive new regulations from Washington D.C. and are hesitant to invest, I'm proud that Virginia is leading the way in encouraging entrepreneurs and unleashing our private sector to lead us out of these troubled economic times."

The two bills Comstock is taking a leading role in as part of the Jobs and Opportunities Agenda are:

• The Virginia Small Business Investment Credit to provide for the creation of private investment funds (up to $100 million) that will invest in small businesses located in Virginia.
• HB1372 - A bill to change the title of the Executive Director of the Virginia Economic Development Partnership to the Chief Executive Officer in order to enhance their role in negotiating with businesses and bringing jobs to Virginia.

Other legislation in the "jobs and opportunity agenda" which Delegate Comstock will be supporting and will be particularly helpful to Northern Virginia includes:

• HB 523 - A bill to grant an income tax exemption for any gain taxed as a capital gain for federal income tax purposes, on or after January 1, 2010, that is related to a qualified investment of a technology and science start-up business made in the first three years in which the business was founded.
• HB677 - the Specialized Biotechnology Research Performance Grant Program which will assist Inova's "Ignite Institute". Delegate Joe May and Senator Janet Howell are Northern Virginia leaders on this legislation.
• HB 756 and HB 900 - Bills to dedicate royalties from offshore drilling to the transportation trust fund.

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