Saturday, October 16, 2021

Sign up here for our free newsletter that tells you about the newest stories, twice each week.

Virginia Revenue Is On The Rise

Virginia Governor Ralph Northam released a Revenue Report for August 2021 for the commonwealth, which indicated that total General Fund revenues rose 18.9 percent from the previous year and 5.2 percent for the fiscal-year-to-date.


“August’s revenue numbers show that our roaring economic recovery is continuing,” the governor said in a press release. “Thanks to fiscally responsible stewardship, Virginia ended fiscal year 2021 with an historic $2.6 billion surplus—the largest in the commonwealth’s history, despite the pandemic. I am proud of what August’s numbers say about our work to support the economic recovery by helping Virginians who need it and making strategic investments in our future.”

The increase shows the strength of Virginia’s economy, even in a month that traditionally is not significant for revenue collections, with collections mainly from withholding, sales taxes, and other sources that have regular monthly payments.

“September collections will complete the first quarter of fiscal year 2022 and provide a clearer assessment of fiscal year 2022,” said Virginia Secretary of Finance Joe Flores. “We expect growth to continue as we prepare for the next budget cycle.”

You must purchase this article or be a subscriber to comment on it.

More Government+Business

A Second Cable Service Provider Coming To James City County

JAMES CITY-James City County residents and businesses will soon have another choice for a cable service provider. On October 12, the James City County Board...

ITA International Awarded $100 Million GSA Contract

NEWPORT NEWS—ITA International (ITA) was awarded a Small Business Innovation Research (SBIR) phase III, five-year, $100 million indefinite delivery/indefinite quantity contract by the U.S. General...

Williamsburg Seeking Input On College Woods Circuit Project

WILLIAMSBURG-The City of Williamsburg is looking for public input on the next phase of the College Woods Circuit Project. Phase 2 of the project...

What Is The Economic Impact Of Sports Tourism In Hampton Roads?

When most people think of sports, what probably comes to mind most often is a professional game or match viewed on television, a live...