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RICHMOND -- Republican gubernatorial candidate Bob McDonnell said Thursday that he would double the size of a state incentive fund to attract businesses and make his party colleague, Lt. Gov. Bill Bolling, the state's "chief job creation officer" if both are elected in November.

In rolling out a series of job creation initiatives, McDonnell also called for a $1,000-per-job tax credit for businesses that create at least 50 new jobs or 25 new jobs in economically distressed areas. And he said he would designate a deputy secretary of commerce and trade to focus exclusively on rural economic development.

"We've been recognized with accolades by some national magazines for our overall business climate, and that's important," McDonnell said in a conference call with reporters. "But it's readily apparent to me that we can no longer simply trade on our reputation and continue to attract business both from within and without the state. Things are just too competitive."

McDonnell said he would roughly double the size of the Governor's Opportunity Fund, an incentive account used to help close deals for new businesses and expansions in the state. McDonnell said he would increase the fund to about $40 million for a two-year budget cycle and expand the use of the incentive fund to cover more business prospects.

McDonnell said a larger incentive account is needed to help Virginia compete with other states with more lucrative programs, and that Virginia's fund is budgeted at a lower rate now than it was from 2000 to 2002. McDonnell also complained that Gov. Tim Kaine had a balance of $11.2 million as of March 31, though pre-approvals made by Kaine's administration bring the balance to about $2.8 million.

A Kaine spokesman said the figures can be misleading because incentive payments often are linked to performance standards that companies must meet before getting the funds.

Budget writers in the Republican-controlled House of Delegates have routinely voted to cut requests by Kaine and Democratic predecessor Mark Warner to increase funding for the program. McDonnell served in the House before his 2005 election as attorney general. Aides to Democratic candidate Creigh Deeds cited two instances during Warner's term in which McDonnell voted for budget amendments that either cut funding or reduced proposed increases to the program.

"My opponent has a long record of supporting Jim Gilmore's fiscal gimmicks and opposing Mark Warner's bipartisan economic recovery plan," Deeds said in a statement. "So, it's no wonder my opponent wants to appoint somebody else to be in charge of job creation."

Asked if Republican lawmakers were wrong to oppose increases to the program, McDonnell said, "I would say that the economic climate in Virginia right now is much different."

McDonnell said lawmakers likely determined the incentives were less necessary when unemployment rates were lower. But he said that's no longer the case.