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 Chaper 2, 2018-2020 $43,754,808 $6,280,000 $50,034,808
2018-2020 2019 Base Budget $46,505,799 $18,175,880 $64,681,679
2018-2020 2019 Governor's Amendments ($2,535,807) ($11,895,880) ($14,431,687)
2018-2020 2019 General Assembly Adjustments ($215,184) $0 ($215,184)
2018-2020 2020 Chaper 2, 2018-2020 $38,122,498 $5,911,000 $44,033,498
2018-2020 2020 Base Budget $46,505,799 $18,175,880 $64,681,679
2018-2020 2020 Governor's Amendments ($5,168,117) ($12,264,880) ($17,432,997)
2018-2020 2020 General Assembly Adjustments ($3,215,184) $0 ($3,215,184)
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 Chaper 2, 2018-2020 0.00 0.00 0.00
2018-2020 2019 Base Budget 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 Chaper 2, 2018-2020 0.00 0.00 0.00
2018-2020 2020 Base Budget 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)
•
Adjust appropriation for the centrally funded three percent salary increase for state employees Base Budget Adjustment
  Adjusts appropriation for the three percent salary increase for state employees budgeted in Central Appropriations, Item 475 X. of Chapter 836, 2017 Acts of Assembly.
 
  FY FY
General Fund $3,602 $3,602
•
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 475 G. of Chapter 836, 2017 Acts of Assembly.
 
  FY FY
General Fund $2,186 $2,186
•
Adjust appropriation for centrally funded retirement rate changes Base Budget Adjustment
  Adjusts appropriation for changes in state employee retirement rates budgeted in Central Appropriations, Item 475 H. of Chapter 836, 2017 Acts of Assembly.
 
  FY FY
General Fund ($706) ($706)
•
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 475 K. of Chapter 836, 2017 Acts of Assembly.
 
  FY FY
General Fund $232 $232
•
Adjust appropriation for centrally funded internal service fund charges for the Personnel Management Information System Base Budget Adjustment
  Adjusts appropriation for the Personnel Management Information System internal service fund charges budgeted in Central Appropriations, Item 476 O. of Chapter 836, 2017 Acts of Assembly.
 
  FY FY
General Fund $22 $22
•
Adjust appropriation for centrally funded workers’ compensation premium changes Base Budget Adjustment
  Adjusts appropriation for workers’ compensation premiums budgeted in Central Appropriations, Item 475 V. of Chapter 836, 2017 Acts of Assembly.
 
  FY FY
General Fund ($20) ($20)
•
Adjust appropriation for centrally funded changes in Cardinal charges Base Budget Adjustment
  Adjusts appropriation for the reduction in Cardinal charges budgeted in Central Appropriations, Item 476 L. of Chapter 836, 2017 Acts of Assembly.
 
  FY FY
General Fund ($3) ($3)
•
Adjust appropriation for the Aerospace Engine Manufacturer Workforce Training Grant and the Aerospace Manufacturing Performance Grant Decision Package
  Aligns the nongeneral fund appropriation in the base for the Aerospace Engine Manufacturer Workforce Training Grant and the Aerospace Manufacturing Performance Grant programs to match anticipated payment schedules. With this adjustment, $6.13 million in FY 2019 and $5.76 million in FY 2020 will be available for these grant programs.
 
  FY FY
Nongeneral Fund ($6,532,000) ($6,901,000)
•
Remove funding provided for the Advanced Shipbuilding Production Facility Grant Program Decision Package
  Eliminates the funding included in the base budget for deposit to Advanced Shipbuilding Production Facility Grant Fund. The $6.0 million deposit will occur in FY 2018 and the funds will be available for payment to the grantee upon submission and approval of the grant application.
 
  FY FY
General Fund ($6,000,000) ($6,000,000)
•
Fund the Virginia Economic Development Incentive Grant Decision Package
  Provides additional general fund appropriation for qualifying grants under the Virginia Economic Development Incentive Grant Program. Nongeneral fund appropriation associated with the program is removed as it is no longer required. With this adjustment, $4.4 million in FY 2019 and $3.0 million in FY 2020 will be available for payments.
 
  FY FY
General Fund $2,800,000 $1,400,000
Nongeneral Fund ($3,600,000) ($3,600,000)
•
Fund the Virginia Investment Partnership Grant Decision Package
  Provides additional general fund appropriation for qualifying grants under the Virginia Investment Partnership Grant Program. Nongeneral fund appropriation associated with the program is removed as it is no longer required. With this adjustment, $4.9 million in FY 2019 and $5.5 million in FY 2020 will be available for payments.
 
  FY FY
General Fund $2,658,880 $3,226,570
Nongeneral Fund ($1,763,880) ($1,763,880)
•
Remove funding for the Pulp, Paper, and Fertilizer Advanced Manufacturing Performance Grant Fund Decision Package
  Eliminates funding included for deposit to the Pulp, Paper, and Fertilizer Advanced Manufacturing Performance Grant Fund. The funding is no longer needed based on the updated payment schedule of the program.
 
  FY FY
General Fund ($2,000,000) ($2,000,000)
•
Adjust funding required to support the Major Eligible Employer Grant Decision Package
  Removes funding included in the base in the second year of the biennium for the Major Eligible Employer Grant. With this adjustment, $1.8 million will be available for payments in FY 2019. This action is necessary based on the most recent schedule of anticipated payments under this grant program.
 
  FY FY
General Fund $0 ($1,800,000)
•
Reduce appropriation for the Virginia Jobs Investment Program General Assembly Adjustment
  This amendment reduces funding by $3.0 million from the general fund in the second year for the Virginia Jobs Investment Program, a workforce training incentive program. The funds are provided for a new customized workforce development initiative in the Virginia Economic Development Partnership in a companion amendment.
 
  FY FY
General Fund $0 ($3,000,000)
•
Transfer the Virginia Israel Advisory Board to the legislative branch General Assembly Adjustment
  This amendment removes the Virginia-Israel Advisory Board from the Secretary of Commerce and Trade and transfers the organization and its resources to the Legislative Branch as a result of House Bill 1297.
 
  FY FY
General Fund ($215,184) ($215,184)
•
Authorize additional Virginia Economic Development Incentive Grant (VEDIG) program grants General Assembly Adjustment
  This language-only amendment authorizes the Governor to award up to $4.0 million in additional grants before June 30, 2019, to eligible companies under the existing VEDIG program. Grant awards are subject to appropriation by the General Assembly.


p3_bullets - Official Enacted Budget - 06-02-2025 07:54:15