Legislation Could Bring New Jobs to Prince William County

Legislation is expected to pass in the Virginia Senate  that would spur economic development and bring jobs to Prince William County, according to Senators George Barker and Chuck Colgan (D-29).

 In a press release, Sen. Barker (D-39) said he  introduced SB 1050, which would “allow the Governor to use some of his economic development funds to attract two types of valuable investments: businesses with high-paying jobs and investments of at least $100 million, and emerging technology companies.”

Barker touched on this bill in his town hall meeting last Saturday with Delegate Rich Anderson. While he spoke about the Governor’s Development Opportunity Fund, Barker mentioned that Manassas as a potential location for new development, but did not speak to further economic developments in Woodbridge specifically.

 “During this difficult economic climate, my constituents are counting on me to bring jobs to the area,” Barker said in a press release. “This bill will help address that need by attracting businesses and promoting economic development in Prince William. More than ever, it is important to set aside our partisan differences and work together.” 

 The bill would allow certain types of projects to be eligible for a grant or loan from the Governor’s Fund, said Barker in the release. Specifically there are three combinations that would receive monies:

• Projects with a minimum private investment of $50 million, which create 50 jobs for which the average wage (excluding fringe benefits) is no less than the prevailing average wage
• Projects with a minimum private investment of $100 million, which create 25 jobs for which the average wage (excluding fringe benefits) is no less than the prevailing average wage.
• Projects that use emerging technology that is beneficial to the Commonwealth, which creates a minimum of 25 jobs for which the average wage (excluding fringe benefits) is no less than one and one half times the prevailing average wage.