GOVERNOR'S VETO

Pursuant to Article V, Section 6 of the Constitution of Virginia, I veto House Bill 212 relating to board-level gender and diversity requirements for economic development incentives.

The proposal seeks to alter the responsibilities of the Major Employment and Investment Project Approval Commission (the Commission). While diversity and inclusivity are commendable aspirations for businesses, noble intentions should not justify circumventing the Commission's obligations. 

The Commission's role is to scrutinize financing for individual incentive packages, not assess whether a business adheres to a requirement akin to a demographic-based quota. Such requirements could deter companies from investing in the Commonwealth, especially privately held or family-owned enterprises, which may be wholly precluded.

The quota-like system overlooks the achievements of women and minorities in their own right. Both groups have made significant strides in board representation and mandating specific demographic compositions risks undermining their accomplishments.

Ultimately, the proposal fails to acknowledge that the primary beneficiaries of economic development are not board members but individuals who secure gainful employment. A genuinely egalitarian approach should focus on attracting businesses to the Commonwealth and fostering opportunities for expansion and investment in individuals.

Accordingly, I veto this bill.