Economic Development Incentive Payments (312)
| Request Title | Remove Rolls-Royce Incentive Payments (2020 Special Session General Assembly Action - 112 #1c) |
| Biennium | 2020-2022 |
| Budget Round | Amended Bill |
| Category | General Assembly Action |
| Region | None |
Description
|
This amendment removes appropriations for economic development incentive payments related to the Rolls-Royce facility in Prince George County. The facility is closing due to a COVID-related drop in demand in the aerospace industry. |
Funding Summary
| Object Type | FY 2020 | FY 2021 | |
| General Fund Dollars | ($3,000,000) | ($3,000,000) | |
| Nongeneral Fund Dollars | ($630,000) | ($261,000) | |
| General Fund Positions | 0.00 | 0.00 | |
| 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 2020 | FY 2021 |
| 534 | Economic Development Services | ($3,630,000) | ($3,261,000) | |
| By Fund | Fund Code | Fund Title | FY 2020 | FY 2021 |
| 01000 | General Fund | ($3,000,000) | ($3,000,000) | |
| 02167 | Aerospace Engine Manufacturing | ($630,000) | ($261,000) |
Authorized Position Details
| By Program | Program Code | Program Title | FY 2020 | FY 2021 |
p3_opview - Official Enacted Budget View Operating Bullet Details - 06-07-2025 18:21:19
