Virginia International Trade Corporation (316)
| Request Title | Establish the Virginia International Trade Corporation |
| Biennium | 2016-2018 |
| Budget Round | Amended Bill |
| Category | New general fund spending initiatives |
| Region | None |
Description
|
Creates the Virginia International Trade Corporation (VITC) as a separate state entity pursuant to Chapter 749 of the 2016 Acts of Assembly, beginning July 1, 2017. The appropriation consists of funding associated with the International Trade Division of the Virginia Economic Development Partnership, as well as funding tied to one position provided under the Secretary of Commerce and Trade to assist with the creation of VITC. Lastly, additional funding is provided to address administrative functions related to the status of VITC as a state entity. |
Funding Summary
| Object Type | FY 2016 | FY 2017 | |
| General Fund Dollars | $0 | $7,200,266 | |
| Nongeneral Fund Dollars | $0 | $0 | |
| General Fund Positions | 0.00 | 24.00 | |
| Nongeneral Positions | 0.00 | 0.00 | |
| General Fund Transfers | $0 | $0 | |
| General Fund Revenue | $0 | $0 | |
| Layoffs | $0 | $0 | |
| Additions to Balance | $0 | $0 |
Funding Details
| By Program | Program Code | Program Title | FY 2016 | FY 2017 |
| 534 | Economic Development Services | $0 | $7,200,266 | |
| By Fund | Fund Code | Fund Title | FY 2016 | FY 2017 |
| 01000 | General Fund | $0 | $7,200,266 |
Authorized Position Details
| By Program | Program Code | Program Title | FY 2016 | FY 2017 |
| 534 | Economic Development Services | 0.00 | 24.00 |
p3_opview - Official Enacted Budget View Operating Bullet Details - 06-07-2025 07:41:07
