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
2016-2018 2017 Chapter 1, 2018 Acts of Assembly $25,508,967 $0 $25,508,967
2016-2018 2018 Chapter 1, 2018 Acts of Assembly $26,035,046 $0 $26,035,046
2018-2020 2019 Chapter 1283, 2020 Acts of Assembly $33,597,198 $0 $33,597,198
2018-2020 2020 Chapter 1283, 2020 Acts of Assembly $37,807,392 $0 $37,807,392
2020-2022 2021 Chapter 1, 2022 Acts of Assembly $34,802,309 $0 $34,802,309
2020-2022 2022 Chapter 1, 2022 Acts of Assembly $45,179,309 $0 $45,179,309
2022-2024 2023 Chapter 2, 2022 Acts of Assembly, Special Session 1 $48,504,192 $0 $48,504,192
2022-2024 2023 Base Budget $43,752,309 $0 $43,752,309
2022-2024 2023 Governor's Amendments $6,591,883 $0 $6,591,883
2022-2024 2023 General Assembly Adjustments ($1,840,000) $0 ($1,840,000)
2022-2024 2024 Chapter 2, 2022 Acts of Assembly, Special Session 1 $50,579,192 $0 $50,579,192
2022-2024 2024 Base Budget $43,752,309 $0 $43,752,309
2022-2024 2024 Governor's Amendments $10,091,883 $0 $10,091,883
2022-2024 2024 General Assembly Adjustments ($3,265,000) $0 ($3,265,000)
Positions Budget Summary
Biennium Fiscal Year Source GF NGF Total
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 1283, 2020 Acts of Assembly 0.00 0.00 0.00
2018-2020 2020 Chapter 1283, 2020 Acts of Assembly 0.00 0.00 0.00
2020-2022 2021 Chapter 1, 2022 Acts of Assembly 0.00 0.00 0.00
2020-2022 2022 Chapter 1, 2022 Acts of Assembly 0.00 0.00 0.00
2022-2024 2023 Chapter 2, 2022 Acts of Assembly, Special Session 1 0.00 0.00 0.00
2022-2024 2023 Base Budget 0.00 0.00 0.00
2022-2024 2023 Governor's Amendments 0.00 0.00 0.00
2022-2024 2023 General Assembly Adjustments 0.00 0.00 0.00
2022-2024 2024 Chapter 2, 2022 Acts of Assembly, Special Session 1 0.00 0.00 0.00
2022-2024 2024 Base Budget 0.00 0.00 0.00
2022-2024 2024 Governor's Amendments 0.00 0.00 0.00
2022-2024 2024 General Assembly Adjustments 0.00 0.00 0.00
Operating Budget Addenda (in order of greatest impact)
•
Adjust appropriation for centrally funded five percent salary increase for state employees Base Budget Adjustment
  Adjusts appropriation for the five percent salary increase for state employees budgeted in Central Appropriations, Item 477 X. of Chapter 552, 2021 Acts of Assembly, Special Session I.
 
  FY FY
General Fund $621,694 $621,694
•
Adjust appropriation for centrally funded retirement rate changes Base Budget Adjustment
  Adjusts appropriation for changes to contribution rates for state employee retirement plans budgeted in Central Appropriations, Item 477 H. of Chapter 552, 2021 Acts of Assembly, Special Session I.
 
  FY FY
General Fund $93,406 $93,406
•
Adjust appropriation for centrally funded changes to state health insurance premiums Base Budget Adjustment
  Adjusts appropriation for the employer’s share of health insurance premiums budgeted in Central Appropriations, Item 477 G. of Chapter 552, 2021 Acts of Assembly, Special Session I.
 
  FY FY
General Fund $45,564 $45,564
•
Adjust appropriation for centrally funded state employee other post-employment benefit rate changes Base Budget Adjustment
  Adjusts appropriation for changes to state employee other post-employment benefit rates budgeted in Central Appropriations, Item 477 K. of Chapter 552, 2021 Acts of Assembly, Special Session I.
 
  FY FY
General Fund $994 $994
•
Adjust appropriation for centrally funded changes to Performance Budgeting system charges Base Budget Adjustment
  Adjusts appropriation for changes to Performance Budgeting system internal service fund charges budgeted in Central Appropriations, Item 478 H. of Chapter 552, 2021 Acts of Assembly, Special Session I.
 
  FY FY
General Fund $632 $632
•
Adjust appropriation for centrally funded changes to Cardinal Financials System charges Base Budget Adjustment
  Adjusts appropriation for changes to Cardinal Financials System internal service fund charges budgeted in Central Appropriations, Item 478 F. of Chapter 552, 2021 Acts of Assembly, Special Session I.
 
  FY FY
General Fund ($20) ($20)
•
Fund initiatives outlined in the Virginia International Trade Plan Decision Package
  Supports implementation of multiple programs aimed at increasing international trade, including supply chain optimization, market research, education, and cybersecurity
 
  FY FY
General Fund $3,500,000 $7,000,000
•
Fully fund the Virginia Talent Accelerator Program Decision Package
  Expands the custom workforce program's capacity to align with the demand for service-based workforce incentives and brings funding more in line with peer states
 
  FY FY
General Fund $2,329,613 $2,329,613
•
Virginia Business Ready Sites Program General Assembly Adjustment
  This amendment provides administrative funding for the Virginia Business Ready Sites program, which includes activities to attract business investment in economic development site locations in the Commonwealth.
 
  FY FY
General Fund ($4,500,000) ($4,500,000)
•
Virginia International Trade Plan Funding General Assembly Adjustment
  This amendment provides an additional $7.0 million over the biennium for the Virginia Economic Development Partnership Authority to implement the Virginia International Trade Plan.
 
  FY FY
General Fund $0 ($3,500,000)
•
Increase administrative funding (Executive Amendment) General Assembly Adjustment
  This amendment provides additional funds to support new and expanding programs.
 
  FY FY
General Fund $1,500,000 $1,500,000
•
Develop Offshore Wind Industry Supply Chain General Assembly Adjustment
  This amendment provides $2.5 million from the general fund in the second year for the Virginia Economic Development Partnership Authority to build a grant program to help businesses transition to the offshore wind industry by investing in equipment.
 
  FY FY
General Fund $0 $2,500,000
•
Adjust Talent Accelerator Funding General Assembly Adjustment
  This amendment provides an additional $1.6 million in each year from the general fund for the Virginia Talent Accelerator Program over the its fiscal year 2022 base.
 
  FY FY
General Fund ($700,000) ($700,000)
•
VEDP Incentives Division and Internal Auditor General Assembly Adjustment
  This amendment establishes a budget for the Virginia Economic Development Partnership Authority's Incentive Division, and adds an additional $500,000 in each year to the division's fiscal year 2022 base budget of $658,969. This amendment provides $200,000 in each year to support a Code mandated internal audit function at the Authority.
 
  FY FY
General Fund $700,000 $700,000
•
MEI Project for Blue Star Manufacturing General Assembly Adjustment
  This amendment provides $1.3 million over the biennium from the general fund for training services provided by the Virginia Economic Development Partnership Authority for the Blue Star Manufacturing economic development project in Wythe County. These services will support the recruitment and training of up to 2,464 new jobs through 2026.
 
  FY FY
General Fund $560,000 $735,000
•
Inland Port Feasibility Assessment General Assembly Adjustment
  This amendment provides $200,000 from the general fund in fiscal year 2023 for the Virginia Economic Development Partnership Authority to assess the feasibility of creating an inland port located in Region 2000, the Mount Rogers Planning District Commission, or the City of Bristol.
 
  FY FY
General Fund $200,000 $0
•
Natural Gas Pipeline Economic Impact Analysis General Assembly Adjustment
  This amendment provides $200,000 from the general fund in the first year for the Virginia Economic Development Partnership Authority to complete an economic impact study of a natural gas pipeline extension on the eastern shore.
 
  FY FY
General Fund $200,000 $0
•
Offshore Wind/Maritime Talent Attraction Study General Assembly Adjustment
  This amendment directs the Virginia Economic Development Partnership Authority to undertake a study of strategies to attract skilled out-of-state talent to fill maritime jobs in Hampton Roads in support of the shipbuilding, ship repair, and offshore wind industries.
 
  FY FY
General Fund $200,000 $0


p3_bullets - Official Enacted Budget - 07-18-2025 18:09:48