The McDonnell administration announced today a significant investment by the state, offered as a budget amendment, in OpSail 2012 (a tall ship exposition that is geared towards tourism and, for this particular event, will commemorate the War of 1812).
$1 million in state revenue (taxpayer dollars) will be invested in the plan that is expected to reap millions more in tourism.
From Governor Bob McDonnell:
“In these tough times we must invest limited state dollars wisely in programs that lead to job creation and spur economic activity. This state support for OpSail 2012 is exactly that kind of targeted investment and will leverage significant private sector dollars. State funds will be invested specifically in activities that generate revenue and jobs for our localities and citizens. Ten years ago OpSail came to Hampton Roads, and the results were remarkable. Visitors and participating ships poured $58 million into the local economy and packed our hotels. The international visibility gained through participation in the event further benefited the Commonwealth and our economy. Tourism is big business in Virginia, and it means good jobs for Virginians. This targeted budget amendment will ensure that OpSail 2012 is a successful event with a positive impact on our economy. I look forward to the world docking at the Port of Virginia in June 2012.”
In an exclusive interview with Bearing Drift, the state’s chief jobs creation officer, Lieutenant Governor Bill Bolling, had this to say about the investment today:
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