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
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
2021-2024 2022 Chapter1, 2024 Acts of Assembly $48,504,192 $0 $48,504,192
2021-2024 2023 Chapter1, 2024 Acts of Assembly $50,077,792 $0 $50,077,792
2024-2026 2025 Chapter 2, 2024 Acts of Assembly, Special Session 1 $52,951,862 $0 $52,951,862
2024-2026 2025 Base Budget $50,579,192 $0 $50,579,192
2024-2026 2025 Governor's Amendments $3,622,670 $0 $3,622,670
2024-2026 2025 General Assembly Adjustments ($1,250,000) $0 ($1,250,000)
2024-2026 2026 Chapter 2, 2024 Acts of Assembly, Special Session 1 $53,451,862 $0 $53,451,862
2024-2026 2026 Base Budget $50,579,192 $0 $50,579,192
2024-2026 2026 Governor's Amendments $4,122,670 $0 $4,122,670
2024-2026 2026 General Assembly Adjustments ($1,250,000) $0 ($1,250,000)
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
2021-2024 2022 Chapter1, 2024 Acts of Assembly 0.00 0.00 0.00
2021-2024 2023 Chapter1, 2024 Acts of Assembly 0.00 0.00 0.00
2024-2026 2025 Chapter 2, 2024 Acts of Assembly, Special Session 1 0.00 0.00 0.00
2024-2026 2025 Base Budget 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 2, 2024 Acts of Assembly, Special Session 1 0.00 0.00 0.00
2024-2026 2026 Base Budget 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 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 483 S. of Chapter 2, 2022 Acts of Assembly, Special Session I.
 
  FY FY
General Fund $1,665,167 $1,665,167
•
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 483 G. of Chapter 2, 2022 Acts of Assembly, Special Session I.
 
  FY FY
General Fund $75,890 $75,890
•
Adjust appropriation for centrally funded information technology auditors and security officers Base Budget Adjustment
  Adjusts appropriation for information technology auditors and information security officers budgeted in Central Appropriations, Item 484 E. of Chapter 2, 2022 Acts of Assembly, Special Session I.
 
  FY FY
General Fund $20,376 $20,376
•
Adjust appropriation for centrally funded property insurance premium charges Base Budget Adjustment
  Adjusts appropriation for property insurance premiums billed by the Department of the Treasury’s Division of Risk Management budgeted in Central Appropriations, Item 484 J. of Chapter 2, 2022 Acts of Assembly, Special Session I.
 
  FY FY
General Fund $5,000 $5,000
•
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 484 H. of Chapter 2, 2022 Acts of Assembly, Special Session I.
 
  FY FY
General Fund ($816) ($816)
•
Adjust appropriation for centrally funded changes to Cardinal Human Capital Management System charges Base Budget Adjustment
  Adjusts appropriation for changes to Cardinal Human Capital Management System internal service fund charges budgeted in Central Appropriations, Item 484 G. of Chapter 2, 2022 Acts of Assembly, Special Session I.
 
  FY FY
General Fund $216 $216
•
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 484 F. of Chapter 2, 2022 Acts of Assembly, Special Session I.
 
  FY FY
General Fund $22 $22
•
Eliminate the Offshore Wind Industry Supply Chain Program Decision Package
  Rescinds duplicative support for the offshore wind industry.
 
  FY FY
General Fund ($2,500,000) ($2,500,000)
•
Launch innovative framework for economic growth Decision Package
  Provides funding for a strategic focus on accelerating economic growth by ecosystem building, further developing sector expertise, and extensive collaboration.CHAR(13) + CHAR(10)CHAR(13) + CHAR(10)
 
  FY FY
General Fund $2,000,000 $2,250,000
•
Increase capacity for the Virginia Office of Education Economics Decision Package
  Provides additional appropriation for the Virginia Office of Education Economics.
 
  FY FY
General Fund $1,250,000 $1,500,000
•
Provide funding for administration of the Virginia Business Ready Sites programs Decision Package
  Increases appropriation for administration of the Virginia Business Ready Sites programs.
 
  FY FY
General Fund $750,000 $750,000
•
Remove one-time funding to support the Virginia Talent Accelerator Program Decision Package
  Eliminates one-time funding to support a specifc project that is not moving forward at this time.
 
  FY FY
General Fund ($735,000) ($735,000)
•
Establish a Virginia office in Taiwan Decision Package
  Provides funding for the Virginia-Taiwan Trade Office.
 
  FY FY
General Fund $500,000 $500,000
•
Continue Chapter 1 funding changes: Provide funding for two percent salary increase Decision Package
  Adjusts appropriation for the two percent salary increase for state and state supported local employees budgeted in Central Appropriations, Paragraphs S, T, U, and V of Item 483, Chapter 1, 2023 Acts of Assembly, Special Session I.
 
  FY FY
General Fund $358,215 $358,215
•
Continue Chapter 1 funding changes: Office of Labor Market Alignment Decision Package
  Provides for the ongoing impact of appropriation changes included in Chapter 1, 2023 Special Session I, for the work of the Virginia Office of Labor Market Alignment.
 
  FY FY
General Fund $233,600 $233,600
•
Redirect Funding Provided for Innovative Framework General Assembly Adjustment
  This amendment redirects $1.0 million from the general fund each year for other priorities from the funding provided in House Bill 30 as introduced to launch the innovative framework for economic growth. The Virginia Economic Development Partnership Authority retains $2.25 million over the biennium for the new initiative.
 
  FY FY
General Fund ($1,000,000) ($1,000,000)
•
2024 Special Session I: Eliminate VLDS Funding for VOEE - HB 1083 General Assembly Adjustment
  Removes funding provided to effectuate the provisions of House Bill 1083 of the 2024 General Assembly. The enrolled version of House Bill 1083 requires the Secretary of Education to review of the Virginia Longitudinal Data system and, based on that review, a potential work plan for the proposed consolidation of databases or for improved support of the system. This funding is not needed in FY 2025.
 
  FY FY
General Fund ($1,000,000) $0
•
HB 1083: Virginia Longitudinal Data System General Assembly Adjustment
  This amendment provides an additional $1.0 million in the first year for the Virginia Office of Education Economics to assume management of the Virginia Longitudinal Data System, and effectuate the provisions of House Bill 1083 of the 2024 General Assembly.
 
  FY FY
General Fund $1,000,000 $0
•
Redirect Business Ready Sites Staffing Support General Assembly Adjustment
  This amendment reduces by $250,000 each year the general fund support provided for administration of the Business Ready Sites program.
 
  FY FY
General Fund ($250,000) ($250,000)
•
Cyber Security Support General Assembly Adjustment
  This amendment provides $400,000 over the biennium from the general fund for the Virginia Economic Development Partnership Authority to improve its cyber security functions.
 
  FY FY
General Fund $200,000 $200,000
•
Support for Taiwan Trade Office General Assembly Adjustment
  This amendment provides $600,000 from the general fund over the biennium to support the opening of the Virginia-Taiwan Trade Office.
 
  FY FY
General Fund ($200,000) ($200,000)
•
Clarify Audit Provisions for VEDP General Assembly Adjustment
  This amendment clarifies the audit provisions in the Code of Virginia related to the Virginia Economic Development Partnership Authority.
•
Eliminate Obsolete Language General Assembly Adjustment
  This amendment removes language requiring approval of the Secretary of Finance for the Virginia Economic Development Partnership Authority to access $1.5 million per year to expand its administration capacity.


p3_bullets - Official Enacted Budget - 06-07-2025 17:17:38