Economic Development Incentive Payments (312)
Request Title | Authorization for Additional VEDIG Grants |
Biennium | 2016-2018 |
Budget Round | Amended Bill |
Half Sheet Number | 106 #2c |
Description
This language amendment authorizes the Governor to award additional grants not to exceed $4.0 million in aggregate between July 1, 2017, and June 30, 2018, to eligible companies under the existing Virginia Economic Development Incentive Grant (VEDIG) program. This brings the authorized aggregate amount of grants that may be outstanding to $34.0 million. Grant payments under the VEDIG program are paid in no less than five installments and do not begin until at least 36 months after the company has met capital investment and job creation targets. Grant awards are subject to appropriation by the General Assembly. |
Funding Details
By Program | Program Code | Program Title | FY 2016 | FY 2017 |
By Fund | Fund Code | Fund Title | FY 2016 | FY 2017 |
Authorized Position Details
By Program | Program Code | Program Title | FY 2016 | FY 2017 |
p3_opview - Official Enacted Budget View Operating Bullet Details - 07-27-2025 19:07:50