AGP Executive Report
Last update: 5 hours agoState Finances: Virginia kept its top AAA bond ratings from all three major agencies, a sign of fiscal strength that can help the state borrow at lower cost. A separate review found state general-fund spending varied widely by locality, reflecting funding formulas and differences in residents’ needs. Power and Data Centers: A federal emergency order directed PJM to dispatch generation and authorize backup power through Oct. 16 amid tight reserves, with the Dominion zone among those facing pressure. Data centers are also drawing scrutiny: a report says Virginia’s tax exemptions cost the state $1.6 billion, while the state ranks first in readiness for AI data centers. Business and Jobs: A Norfolk maritime repair company plans to add 40 jobs, while Virginia Beach-based Haynes Furniture and The Dump are closing after nearly 130 years. Construction also reached a milestone at Live! Casino & Hotel Virginia in Petersburg, a major entertainment project expected to bring new business to the region.
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