House of Delegates Speak

Public Comments for 02/11/2021 Finance - Subcommittee #2

SB1158 - Port of Virginia tax credits; extends the sunset date.

Last Name: Vassey Organization: Virginia Manufacturers Association Locality: Richmond

The Virginia Manufacturers Association has committed to expanding manufactured goods exports 50% by 2025. Maintaining a competitive Port of Virginia is critical to achieving that goal. Extending the Port credit is an important tool in maintaining Virginia's competitiveness. The VMA supports this bill.

Last Name: Fediw Organization: Virginia Maritime Association Locality: Norfolk

The Virginia Maritime Association (VMA) supports SB1158. These tax credits are a critical driver of container volumes through The Port of Virginia, essential to filling the newly-added capacity from their recently-completed terminal optimization projects. These port tax incentive programs have been vital in the recruitment of out-of-state businesses, as well the growth of existing businesses within the state. By extending these credits, VMA member companies, as well as others within the Commonwealth, will be incentivized to increase container throughput.

Last Name: Reynolds Organization: Hampton Roads Chamber Locality: Norfolk

The Hampton Roads Chamber supports SB1158. The port tax incentive programs have been a tool to recruit new business and grow current business within the Commonwealth. This bill will strengthen and grow the relationship between the private industry and the Commonwealth. For these reasons, we ask that you support the bill.

Last Name: Rinehart Organization: The Port of Virginia Locality: Norfolk

The port tax credits are an essential tool to drive container volume to The Port of Virginia to fill the newly realized capacity at the Virginia International Gateway and Norfolk International Terminals. These two completed projects have added 1 million annual container capacity at the port. The port tax incentive programs have been a tool to recruit new business and grow current business within the Commonwealth; therefore, by extending the programs, the relationship with private industry and the Commonwealth will prosper, and port volume growth will continue to grow.

Last Name: Wagner Locality: Gleann Tholastaidh

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SB1163 - Agricultural equipment; establishes a refundable individual and corporate income tax credit.

Last Name: Wagner Locality: Gleann Tholastaidh

SB1398 - Retail sales and transient occupancy taxes; room rentals.

Last Name: Wagner Locality: Gleann Tholastaidh

End of Comments