State revenue collections increased by 20.5 percent from May of last year, according to a report from the governor’s office today.
Gov. Bob McDonnell announced today that April revenue collections increased by 2.2 percent over the prior year. April is a significant month for revenue collections, because, in addition to regular revenue collections, final payments for tax year 2012 and the first estimated tax payment for tax year 2013 were due from corporations April 15. On a year-to-date basis, total revenue collections rose 4.1 percent through April, ahead of the annual forecast of 3.6 percent growth.
State revenue collections decreased by 2 percent in February over the prior year mainly due to one fewer deposit day. February is not generally a significant month for revenue collections. On a year-to-date basis, total revenue collections rose 5.5 percent through February, ahead of the annual forecast of 3.6 percent growth.
Gov. Bob McDonnell’s job creation and workforce development agenda for the 2013 General Assembly session includes measures to make it easier to start, locate and grow a business in Virginia, and to more closely align education and job creation.
Gov. Bob McDonnell has declared January 2013 as Virginia Agriculture Census Month. The census takes place every five years; the last national agricultural census was in 2007. January 2013 is the commemorative month for the 2012 Ag Census because 2012 is the production year but reporting occurs in January through February 4.
Carded Graphics, a manufacturer of quality folding cartons and packaging for some of the world’s largest food, pharmaceutical and beverage manufacturers, will invest approximately $7.05 million to expand its operation in the City of Staunton.
A report out Wednesday said visitors to Virginia generated $20.4 billion in revenue from tourism in 2011, an 8 percent increase over 2010.
Capital One Financial Corporation (NYSE: COF) will invest more than $150 million to establish a new data center in Chesterfield County
May is a significant month for revenue collections. In addition to regular collections of withholding and sales taxes, estimated and final payments for individuals were due May 1, and corporations with a fiscal year ending other than Dec. 31 – primarily retailers – had final payments due in May