Virginia Economic Development Partnership [310]
Secretarial Area: Commerce and Trade
Operating Budget Summary
This table shows the Governor's proposed budget for the next two years and the agency's official budget for the previous six years.
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Biennium Fiscal Year Source GF NGF Total
2010-2012 2011 Chapter 2, 2012 Acts of Assembly $18,444,647 $0 $18,444,647
2010-2012 2012 Chapter 2, 2012 Acts of Assembly $18,699,713 $0 $18,699,713
2012-2014 2013 Chapter 1, 2014 Acts of Assembly $17,849,466 $0 $17,849,466
2012-2014 2014 Chapter 1, 2014 Acts of Assembly $17,824,746 $0 $17,824,746
2014-2016 2015 Chapter 732, 2016 Acts of Assembly $20,387,705 $0 $20,387,705
2014-2016 2016 Chapter 732, 2016 Acts of Assembly $19,276,464 $0 $19,276,464
2016-2018 2017 Chapter 780, 2016 Appropriation Act $26,851,544 $0 $26,851,544
2016-2018 2017 Base Budget $19,276,464 $0 $19,276,464
2016-2018 2017 Governor's Amendments $8,325,080 $0 $8,325,080
2016-2018 2017 General Assembly Adjustments ($750,000) $0 ($750,000)
2016-2018 2018 Chapter 780, 2016 Appropriation Act $27,351,546 $0 $27,351,546
2016-2018 2018 Base Budget $19,276,464 $0 $19,276,464
2016-2018 2018 Governor's Amendments $8,325,082 $0 $8,325,082
2016-2018 2018 General Assembly Adjustments ($250,000) $0 ($250,000)
Positions Budget Summary
Biennium Fiscal Year Source GF NGF Total
2010-2012 2011 Chapter 2, 2012 Acts of Assembly 0.00 0.00 0.00
2010-2012 2012 Chapter 2, 2012 Acts of Assembly 0.00 0.00 0.00
2012-2014 2013 Chapter 1, 2014 Acts of Assembly 0.00 0.00 0.00
2012-2014 2014 Chapter 1, 2014 Acts of Assembly 0.00 0.00 0.00
2014-2016 2015 Chapter 732, 2016 Acts of Assembly 0.00 0.00 0.00
2014-2016 2016 Chapter 732, 2016 Acts of Assembly 0.00 0.00 0.00
2016-2018 2017 Chapter 780, 2016 Appropriation Act 0.00 0.00 0.00
2016-2018 2017 Base Budget 0.00 0.00 0.00
2016-2018 2017 Governor's Amendments 0.00 0.00 0.00
2016-2018 2017 General Assembly Adjustments 0.00 0.00 0.00
2016-2018 2018 Chapter 780, 2016 Appropriation Act 0.00 0.00 0.00
2016-2018 2018 Base Budget 0.00 0.00 0.00
2016-2018 2018 Governor's Amendments 0.00 0.00 0.00
2016-2018 2018 General Assembly Adjustments 0.00 0.00 0.00
Operating Budget Addenda (in order of greatest impact)
•
Distribute savings to agency budgets Base Budget Adjustment
  Moves savings budgeted centrally in Paragraph A, Item 471.10, Chapter 665, 2015 Acts of Assembly from Central Appropriations to the individual budgets of state agencies.
 
  FY FY
General Fund ($1,267,607) ($1,267,607)
•
Remove one-time funding for a national security and research initiative Base Budget Adjustment
  Removes one-time funding supporting a program connecting national security agency research and development programs and project managers with entrepreneurs in Northern Virginia.
 
  FY FY
General Fund ($350,000) ($350,000)
•
Adjust appropriation for centrally funded retirement rate changes Base Budget Adjustment
  Adjusts appropriation for changes in state employee retirement rates to 80 percent of the Virginia Retirement System Board certified rates budgeted in Central Appropriations, Item 467.H. of Chapter 665, 2015 Acts of Assembly. A companion adjustment provides funding to increase state employee retirement rates to 90 percent of the Virginia Retirement System Board certified rate.
 
  FY FY
General Fund $248,253 $248,253
•
Adjust appropriation for the centrally funded two percent salary increase for state employees Base Budget Adjustment
  Adjusts appropriation for the two percent salary increase for state employees budgeted in Central Appropriations, Item 467.P. of Chapter 665, 2015 Acts of Assembly.
 
  FY FY
General Fund $176,948 $176,948
•
Adjust appropriation to accelerate the employer retirement contribution phase in schedule Base Budget Adjustment
  Adjusts appropriation for changes in employee retirement rates to 90 percent of the Virginia Retirement System Board certified rate budgeted in Central Appropriations, Item 467.U. of Chapter 665, 2015 Acts of Assembly.
 
  FY FY
General Fund $140,966 $140,966
•
Adjust appropriation for the centrally funded compression pay adjustment for state employees Base Budget Adjustment
  Adjusts appropriation for the compression pay adjustment for state employees budgeted in Central Appropriations, Item 467.Q. of Chapter 665, 2015 Acts of Assembly.
 
  FY FY
General Fund $123,862 $123,862
•
Adjust appropriation for centrally funded health insurance costs Base Budget Adjustment
  Adjusts appropriation for the employer’s share of health insurance premiums budgeted in Central Appropriations, Item 467.G. of Chapter 665, 2015 Acts of Assembly.
 
  FY FY
General Fund $82,152 $82,152
•
Adjust appropriation for centrally funded state employee other post employment benefit rate changes Base Budget Adjustment
  Adjusts appropriation for changes in state employee other post employment benefit rates budgeted in Central Appropriations, Item 467.K.3. of Chapter 665, 2015 Acts of Assembly.
 
  FY FY
General Fund $9,735 $9,735
•
Provide additional funding to support international trade and export programs Decision Package
  Provides additional general fund support to continue and expand efforts focused on expanding international trade and exports by Virginia-based companies. This includes a continuation of the Going Global Defense Initiative and the State Trade and Export Promotion Grant Program, which are both established programs initiated with federal funds which are no longer available. Also, this includes additional support for companies participating in the Virginia Leaders In Export Trade program and an expansion of the Virginia International Trade Alliance program.
 
  FY FY
General Fund $3,650,000 $3,650,000
•
Provide additional funding for domestic business attraction efforts Decision Package
  Provides additional general fund support to enhance business attraction efforts in the United States. This includes funding for domestic marketing, two additional business attraction manager positions, one research specialist position, and participation in trade shows.
 
  FY FY
General Fund $3,321,000 $3,321,000
•
Provide additional funding for international business attraction efforts Decision Package
  Provides additional general fund support to enhance international business attraction efforts in targeted markets. Included in this item is funding to open offices in South Korea and Canada, expand offices in China and Europe, and funding for international marketing.
 
  FY FY
General Fund $1,400,000 $1,400,000
•
Provide additional funding to expand business expansion efforts Decision Package
  Provides general fund support to enhance efforts related to business expansion in the Commonwealth. These efforts include additional funding for three positions and programmatic support to enhance the Virginia Jobs Investment Program, as well as two positions and support to create a program to provide services to sustained growth companies in Virginia.
 
  FY FY
General Fund $789,700 $789,700
•
Adjust appropriation for the costs of the new Cardinal financial system Decision Package
  Reflects the agency's share of the costs of the new Cardinal accounting system. The Department of Accounts allocates the yearly cost of the system to agencies based upon the number of transactions the agency completed in the previous fiscal year.
 
  FY FY
General Fund $71 $73
•
Create a work group to recommend a long-term allocation mechanism for the Virginia Nutrient Credit Exchange Decision Package
  Authorizes the Virginia Economic Development Partnership to use appropriated funding to support the costs associated with a working group to recommend a long-term allocation mechanism within the Virginia Nutrient Credit Exchange. This is a language-only amendment.
•
Remove outdated Virginia Coalfield Economic Development Authority Appropriation Act Language Decision Package
  Removes outdated, obsolete language related to the use of funding by the Virginia Coalfield Economic Development Authority. The existing language references Acts of Assembly which extended the coalfield employment enhancement tax credit through 2007, which has been extended further by subsequent acts. Additionally, the Code of Virginia provides the Authority with the necessary authorization to spend any funding received.
•
Reduce New Funding for VEDP General Assembly Adjustment
  This amendment reduces the proposed new funding included in the introduced budget for the Virginia Economic Development Partnership from $9.2 million from the general fund each year to $5.2 million each year. The language designates how the new funding should be allocated.
 
  FY FY
General Fund ($4,000,000) ($4,000,000)
•
Brownfields Restoration Fund General Assembly Adjustment
  This amendment provides an additional $1.5 million each year from the general fund to the Brownfields Restoration and Economic Development Assistance Fund to move beyond assessment of properties to remediation of brownfield sites.
 
  FY FY
General Fund $1,500,000 $1,500,000
•
Commonwealth Center for Advanced Manufacturing General Assembly Adjustment
  This amendment provides $1.0 million from the general fund each year for rent and operating support to the Commonwealth Center for Advanced Manufacturing.
 
  FY FY
General Fund $1,000,000 $1,000,000
•
Virginia Business Ready Sites Program General Assembly Adjustment
  This amendment provides $750,000 from the general fund the first year and $1.25 million from the general fund the second year for a pilot project to support the development of sites which have been included in the Virginia Business Ready Sites Program as being suitable for industrial development.
 
  FY FY
General Fund $750,000 $1,250,000
•
Transfer Study from VEDP to DEQ General Assembly Adjustment
  This amendment transfers primary responsibility for the development of a long-term offsetting methods within the Virginia Nutrient Credit Exchange from VEDP to the Department of Environmental Quality, and directs the two entities to work together on the process.


p3_bullets - Official Enacted Budget - 11-01-2025 02:27:21