Old Dominion economist Bob McNab, director of the University's Dragas Center for Economic Analysis and Policy, has been appointed by Gov. Ralph Northam to Virginia's Joint Advisory Board of Economists.

In that role, McNab, professor of economics in the Strome College of Business, will analyze revenue estimates for the Commonwealth of Virginia on behalf of Northam. His appointment, which took effect on July 1, is for one year and can be renewed.

"It's an honor and privilege to be appointed by Gov. Ralph Northam and to serve alongside a distinguished group of economists for the betterment of the Commonwealth of Virginia," McNab said.

McNab was one of two new appointees to the 15-person advisory board. The other was Gerald Prante, associate professor of economics at Lynchburg College.

"I believe the appointment is a reflection of the work we do at the Dragas Center for Economic Analysis and Policy, the Strome College of Business and Old Dominion University to improve the lives of the citizens of the region and Commonwealth," McNab said.

The board consists of economists in academia, banking and other industries. It was established by Virginia's General Assembly to provide oversight on revenue forecasting for the Commonwealth when it does budgeting.

In the position, McNab will review the governor's estimates of general fund, transportation fund and other revenue. He said it will provide a unique opportunity to assist in the preparation of revenue estimates and other budgetary issues.

The Joint Advisory Board of Economists is chaired by Virginia Secretary of Finance Aubrey Layne. It consists of the staff director of the House Committee on Appropriations, the staff director of the Senate Committee on Finance, and 15 citizen members.

McNab came to Old Dominion two years ago from the Naval Postgraduate School, joining the Strome College faculty, which is renowned for influential economic forecasts and reports such as the State of the Region and State of the Commonwealth.

Related News Stories