Op Ed by Greg Wingfield: Va. could stand out from the rest

By Greg Wingfield, as seen in The Richmond Times-Dispatch

Editor, Times-Dispatch:

Having spent time in China with Charles McPhillips and Brad Haneberg marketing the many business advantages of the Commonwealth of Virginia, I concur with the recommendations made in their Commentary column, “Virginia needs investment from overseas.”

Chinese business has a very real desire to invest offshore due to its government’s inconsistent monetary policy. The U.S., with its stable business climate, large consumer base and strong entrepreneur activity, is a logical Chinese target for investment.

Virginia can stand out from the other 49 states by encouraging new foreign capital to invest in the commonwealth through a mechanism like the Virginia In-Bound Growth Funds option. As suggested, we have an incentive tool, the Governor’s Opportunity Fund, to help leverage this foreign capital and keep the investment tied to Virginia based on job creation.

As an economic developer who has worked exclusively in the commonwealth since 1976, I believe we need to explore new ways of bringing jobs and capital investment to the state. Why not explore the Virginia In-Bound Growth Funds concept? It could provide a whole new stream of business opportunities that are not currently being explored.

Greg Wingfield,
President and CEO,
Greater Richmond Partnership Inc. Richmond.

 

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