Business and Economics

The mission of the Business & Economics Section is to provide economic data and expertise to state and local government in order to enhance the ability of policy makers in government to make informed decisions and to design effective policies for improving the welfare of the citizens of the Commonwealth.

• ECONOMIC DATA SERVICES: The section currently collects and publishes data on local tax rates, highway financing, and income levels around the Commonwealth. VaStat is our ever-growing collection of links to economic and demographic data important to Virginia’s decision makers.

• REGULATORY ANALYSIS & DESIGN: Economic analysis can aid in estimating the economic impact of regulations on the economy. Good economic analysis can also help craft innovative regulatory strategies that may improve the effectiveness of the regulations in accomplishing their goals or reduce the cost of achieving those goals. The B&E Section makes regulatory analysis expertise available to units of state and local government in Virginia and other states. We also track regulatory activity at the state and local level to review the impact of these rules on the well-being of Virginia’s citizens. For an example of such analysis, see:
  
• RGGI Greenhouse Gas Auction Methods
  

• IMPACT STUDIES: The B&E Section produces economic impact studies of various business and governmental projects. This may include estimating both local and state-wide effects. Recent studies include assessing the impact of the Virginia Horse Center and of Monticello on economic activity.

• LOCATION STUDIES: The section currently produces location studies of various governmental projects. The purpose of such studies is to determine the optimal placement of resources based on distances and travel patterns of residents within regions. Recently a cemetary location study was done for the Virginia Department of Veteran Services.
  

• COMMENTARY: The Virginia Issues series provides researchers with a forum for publishing an extended analysis of important economic issues in the Commonwealth.