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-- Chinese company each long way close to sealing a deal to acquire Virginia based Smithfield Foods for four point seven billion dollars.
In what would be the largest Chinese takeover of an American company today joining us now from Richmond Virginia as governor.
Bob McDonnell of that state governor did the same.
Their promise and you know major hog farmer and core producer.
The biggest in fact.
They're promise and to keep the jobs there and not move the company the national stay in place are you OK with this deal.
Of course I just found out about it yesterday is -- the largest ball hog producer in the world one of the L.
Largest employers in Virginia and it's hard to move -- hog farm you know was so I think that a lot of the jobs in the establishment will stay.
In Virginia and the reason that I've learned that they it's -- to say to publicly for doing this is to export more.
Hogs and products from.
America to China.
Because we got one point three billion people there and they trust food safety here in America in the west.
So I think it could be good for -- -- and our jobs long term certainly -- that shareholders a 31%.
Premium on the value and so I think they felt it was a -- they couldn't refuse.
Have you called Mae and medicine has -- if you put -- called a general letter that chairman of the company -- -- -- gets more detail on it.
I haven't yet we got a courtesy call early yesterday I think -- defected recently.
But we got a call in advance to let us know that this was -- coming so I have at this point only know what I've gotten from.
From some of their representatives and from some of the public sources but I'll I'll have that conversation because.
Obviously it's a huge show employer -- and we want those jobs to grow here.
By exporting more to China and other places 45% of all their product centers that already.
-- and are already exported to China they felt they need today.
Hope this Hong Kong based presence in order to expand their up market there is pretty mature in the United States and they think -- Help them grow employment and jobs in North Carolina and Virginia while they export ever say it's.
Right of course where we come from canny enough pork right -- want to talk about repeatedly about jobs overall.
That unemployment rate in the state of Virginia is now at five point 2% down from seven point 3%.
When you took office but that is fall -- they're just in lockstep now.
Would lock -- with overall unemployment rate although the national average is still higher at seven and a half percent it is fall one.
It in the same step with that so and how much credit do you deserve.
Anyways it mostly government jobs or largely government jobs.
No in fact it's only 9% they're government jobs we've had about -- 171000.
Net new jobs taken in Virginia.
Over these last three years and 9% -- government jobs even though we had that proximity to DC and Northern Virginia.
It's technology it's Biotech nanotech its aerospace that is some defense subcontracting.
It's tourism it's cry -- agriculture has been a huge.
Part of that so -- -- -- government.
It bar brawl has -- to keep taxes and regulation.
-- load -- keep our strong right to work laws to bolster our education opportunities especially in the stem disciplines.
And to be positive about -- -- as I've taken eight international trade trips to sell Virginia around the world just got back from China Japan for seventeen days so.
Or tell the Virginia story and I think that's why we got the second lowest unemployment rate the southeast now as.
People like good business and Virginia.
Those changes though that you talk about taxes though there are plenty of conservatives that do not like what -- -- in terms of you've got rid of the gas tax but then on added a wholesale fuel tax and then increase sales taxes in the state to fund transportation.
And frankly they see it is a multi billion dollar tax increase on the people of Virginia.
Well first of all we've cut spending back to 2007.
It over the last a couple of years so we have.
Really made our government a lot more lane at the same time we've been able to generate circles is -- we're not spending money.
And we're putting a lot of it in the rainy day fund that fixing our pension system.
Public transportation is that a nagging problem for thirty years.
And your correct -- -- going to be some additional.
Revenues raised in Northern Virginia and Hampton roads which are the first and twentieth most congested places in their country and you know just like Reagan did an 83 -- -- the gas taxes so look for -- free lunches we got to make sure our infrastructure doesn't crumble.
So yeah we did make that decision but overall we are a lot of -- -- state.
We governed very fiscally conservative -- and it's a good place to do business that's why we have low unemployment.
Mama bin Virginia Beach in about a months time and I can tell you that not relatives and friends will be joined Meyer author about the hot fair tax sit down the bears stopped -- -- -- not going to be about eight.
But governor it was.
Well they'll be you'll be able to get there are a lot faster because the roads are going to be better okay I'm gonna call you about -- did it take outfit I'm just getting the governor was great to see thank you so much going day to Bob myself a lot of money in Virginia bitch.
-- -- well.
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