Economic Development Incentive Payments [312]
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
2012-2014 2013 Chapter 1, 2014 Acts of Assembly $54,451,745 $535,000 $54,986,745
2012-2014 2014 Chapter 1, 2014 Acts of Assembly $56,331,455 $1,175,000 $57,506,455
2014-2016 2015 Chapter 732, 2016 Acts of Assembly $61,826,436 $250,000 $62,076,436
2014-2016 2016 Chapter 732, 2016 Acts of Assembly $80,113,444 $250,000 $80,363,444
2016-2018 2017 Chapter 1, 2018 Acts of Assembly $52,391,610 $150,000 $52,541,610
2016-2018 2018 Chapter 1, 2018 Acts of Assembly $44,360,799 $18,175,880 $62,536,679
2018-2020 2019 Chapter 854, 2019 Acts of Assembly $41,684,808 $6,280,000 $47,964,808
2018-2020 2019 Previous Legislative Appropriation $43,754,808 $6,280,000 $50,034,808
2018-2020 2019 Governor's Amendments ($2,070,000) $0 ($2,070,000)
2018-2020 2019 General Assembly Adjustments $0 $0 $0
2018-2020 2020 Chapter 854, 2019 Acts of Assembly $87,912,498 $5,911,000 $93,823,498
2018-2020 2020 Previous Legislative Appropriation $38,122,498 $5,911,000 $44,033,498
2018-2020 2020 Governor's Amendments ($210,000) $0 ($210,000)
2018-2020 2020 General Assembly Adjustments $50,000,000 $0 $50,000,000
Positions Budget Summary
Biennium Fiscal Year Source GF NGF Total
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 1, 2018 Acts of Assembly 0.00 0.00 0.00
2016-2018 2018 Chapter 1, 2018 Acts of Assembly 0.00 0.00 0.00
2018-2020 2019 Chapter 854, 2019 Acts of Assembly 0.00 0.00 0.00
2018-2020 2019 Previous Legislative Appropriation 0.00 0.00 0.00
2018-2020 2019 Governor's Amendments 0.00 0.00 0.00
2018-2020 2019 General Assembly Adjustments 0.00 0.00 0.00
2018-2020 2020 Chapter 854, 2019 Acts of Assembly 0.00 0.00 0.00
2018-2020 2020 Previous Legislative Appropriation 0.00 0.00 0.00
2018-2020 2020 Governor's Amendments 0.00 0.00 0.00
2018-2020 2020 General Assembly Adjustments 0.00 0.00 0.00
Operating Budget Addenda (in order of greatest impact)
•
Capture savings related to updated incentive grant payment schedules Decision Package
  Removes funding included in the budget for the Major Eligible Employer Grant. Additionally, funding is reduced in both years of the biennium for the Virginia Investment Partnership Grant. This action is necessary based on the most recent schedule of anticipated payments under these grant programs.
 
  FY FY
General Fund ($2,070,000) ($210,000)
•
Appropriate Semiconductor Manufacturing Grant Payment General Assembly Adjustment
  This amendment appropriates $50.0 million from the general fund the second year to the Semiconductor Manufacturing Grant Fund pursuant to Senate Bill 1370 and House Bill 2180, and subject to the terms agreed to in a memorandum of understanding between a qualified manufacturing company and the Commonwealth.
 
  FY FY
General Fund $0 $50,000,000
•
Commonwealth Center for Advanced Manufacturing Incentive Fund General Assembly Adjustment
  This amendment provides $1.7 million from the general fund in the second year to establish membership and research grant incentives for current and potential private sector, industry partners, as well as research grant incentives for university research to be conducted at the Center for Advanced Manufacturing facility in an effort to increase access to federal resources.
 
  FY FY
General Fund $0 $1,700,000
•
Reallocate grant funding for the Commonwealth Center for Advanced Manufacturing (Executive Amendment) General Assembly Adjustment
  This amendment removes the appropriation and associated language establishing a grant program for the Commonwealth Center for Advanced Manufacturing. A companion amendment establishes the funding under Item 122, the Virginia Economic Development Partnership.
 
  FY FY
General Fund $0 ($1,700,000)
•
Virginia Jobs Investment Program authorized use of balances General Assembly Adjustment
  This amendment authorizes up to $2.7 million of previously awarded funds that have been repaid to the Commonwealth's Development Opportunity Fund to be used for grants under the Virginia Jobs Investment Program (VJIP), subject to the conditions set forth in current law. This authorization represents the amount of grants awarded to and repaid on behalf of Norfolk Southern Corporation and Arconic.


p3_bullets - Official Enacted Budget - 01-24-2026 17:28:12