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
2018-2020 2019 Chapter 1283, 2020 Acts of Assembly $41,684,808 $6,280,000 $47,964,808
2018-2020 2020 Chapter 1283, 2020 Acts of Assembly $87,912,498 $6,911,000 $94,823,498
2020-2022 2021 Chapter 1, 2022 Acts of Assembly $70,341,733 $150,000 $70,491,733
2020-2022 2022 Chapter 1, 2022 Acts of Assembly $97,935,483 $150,000 $98,085,483
2022-2024 2023 Chapter1, 2024 Acts of Assembly $155,433,083 $150,000 $155,583,083
2022-2024 2024 Chapter1, 2024 Acts of Assembly $403,463,433 $150,000 $403,613,433
2024-2026 2025 Chapter 7, 2026 Acts of Assembly $150,322,331 $150,000 $150,472,331
2024-2026 2025 Previous Legislative Appropriation $150,322,331 $150,000 $150,472,331
2024-2026 2025 Governor's Amendments $0 $0 $0
2024-2026 2025 General Assembly Adjustments $0 $0 $0
2024-2026 2026 Chapter 7, 2026 Acts of Assembly $59,777,583 $150,000 $59,927,583
2024-2026 2026 Previous Legislative Appropriation $61,581,826 $150,000 $61,731,826
2024-2026 2026 Governor's Amendments ($1,804,243) $0 ($1,804,243)
2024-2026 2026 General Assembly Adjustments $0 $0 $0
Positions Budget Summary
Biennium Fiscal Year Source GF NGF Total
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 Chapter1, 2024 Acts of Assembly 0.00 0.00 0.00
2022-2024 2024 Chapter1, 2024 Acts of Assembly 0.00 0.00 0.00
2024-2026 2025 Chapter 7, 2026 Acts of Assembly 0.00 0.00 0.00
2024-2026 2025 Previous Legislative Appropriation 0.00 0.00 0.00
2024-2026 2025 Governor's Amendments 0.00 0.00 0.00
2024-2026 2025 General Assembly Adjustments 0.00 0.00 0.00
2024-2026 2026 Chapter 7, 2026 Acts of Assembly 0.00 0.00 0.00
2024-2026 2026 Previous Legislative Appropriation 0.00 0.00 0.00
2024-2026 2026 Governor's Amendments 0.00 0.00 0.00
2024-2026 2026 General Assembly Adjustments 0.00 0.00 0.00
Operating Budget Addenda (in order of greatest impact)
•
Adjust grant payment schedule for the Financial Services Expansion Fund Decision Package
  Shifts appropriation to correspond with the updated payment schedule for the Financial Services Expansion Fund.
 
  FY FY
General Fund $0 ($1,404,243)
•
Adjust payments for the Virginia Investment Performance Grant Decision Package
  Reduces appropriation for deposit to the fund as a result of a cancelled project.
 
  FY FY
General Fund $0 ($400,000)
•
Revert appropriation for a major energy related economic development project Decision Package
  Reverts appropriation provided for an energy related economic development project. This project was supported through the Virginia Clean Energy Innovation Bank under the Department of Energy.
•
Revert unobligated balances for the inland port project Decision Package
  Reverts unutilized general fund appropriation provided for the development of an inland port in the Mount Rogers Planning District. A more than offsetting amount of additional funding is provided for this project in the 2026-2028 introduced budget.


p3_bullets - Official Enacted Budget - 09-15-2026 09:37:44