Error Occurred in Deployment Step - Access Denied

When deploying a site workflow solution from Visual Studio 2010 to a site, I ran into the error:

Error occurred in deployment step 'Recycle IIS Application Pool':
0x80070005Access denied.

Checking permissions, I found that the user account that was deploying the site workflow (under which Visual Studio was running) did not have site collection administrator permissions. After adding the user as a site collection administrator, I was able to deploy the solution successfully.