§ 2.2-5203. Duties of agencies represented on state and local advisory team
The state agencies represented on the state and local advisory team shall provide administrative support for the team in the development and implementation of the collaborative system of services and funding authorized by this chapter. This support shall also include, but not be limited to, the provision of timely fiscal information, data for client- and […]
§ 2.2-5103. Requirements for grants generally
A. Any eligible manufacturer, eligible company, or research and development service eligible to apply for a grant under this chapter shall provide evidence, satisfactory to the Secretary, of the amount of the capital investment, the number of new jobs created as a result of the capital investment and such other evidence that requirements of this […]
§ 2.2-5104. Virginia Investment Partnership Grant Fund
A. There is established a special fund in the state treasury to be known as the Virginia Investment Partnership Grant Fund. The Fund shall consist of the Major Eligible Employer Grant subfund, the Economic Development Incentive Grant subfund, and the Investment Performance Grant subfund. Each subfund shall include such moneys as may be appropriated by […]
§ 2.2-5105. (Expires July 1, 2026) Definitions
As used in this chapter, unless the context requires a different meaning: “Basic employment” means employment in an industry sector or function that directly or indirectly derives more than 50 percent of its revenue from out-of-state sources. “Board” means the Virginia Growth and Opportunity Board as may be established under law. “Capital investment” means an […]
§ 2.2-5106. (Expires July 1, 2026) Virginia Collaborative Economic Development Performance Grants
A. Subject to the appropriation by the General Assembly of sufficient moneys to the Virginia Collaborative Economic Development Performance Grant Fund, participating localities may be eligible for grants as provided in this section, subject to the conditions set forth in this section and in the guidelines developed pursuant to subsection E. In order to be […]
§ 2.2-5107. (Expires July 1, 2026) Grant payments
The Comptroller shall not draw any warrants to issue checks for grants or disburse funds under this chapter without a specific legislative appropriation as specified in conditions and restrictions on expenditures in the appropriation act and following receipt of a certification from the Partnership and the Virginia Department of Taxation of the amount of personal […]
§ 2.2-5101. Virginia Investment Performance Grants
A. Subject to the appropriation by the General Assembly of sufficient moneys to the Investment Performance Grant subfund, any eligible manufacturer or research and development service that is not eligible for a major eligible employer grant under § 2.2-5102 shall be eligible for an investment performance grant as provided in this section. B. The Partnership […]
§ 2.2-5102. Performance grant for major eligible manufacturers
A. As used in this section, “major eligible employer” means any eligible manufacturer or other nonmanufacturing basic employer that makes a capital investment of at least $100 million that results in the creation of at least 1,000 new jobs. For corporate headquarters and other basic employers that make a capital investment of at least $100 […]
§ 2.2-5102.1. Virginia Economic Development Incentive Grants
A. Subject to the appropriation by the General Assembly of sufficient moneys to the Economic Development Incentive Grant subfund, any eligible company that meets the requirements of this section and is not awarded a grant under § 2.2-5101 or 2.2-5102 for the same project shall be eligible to apply for an economic development incentive grant […]
§ 2.2-5004. Repealed
Repealed by Acts 2016, c. 588, cl. 10, effective October 1, 2016.