Economic Development Incentive Payments (312)
Request Title | Micron Payment Moved to FY 2027 (101 #1c) |
Biennium | 2024-2026 |
Budget Round | Amended Bill |
Half Sheet Number | 101 #1c |
Description
This amendment removes $1.4 million from the general fund the second year, reflecting the first anticipated incentive payment for Micron. House Bill 2358 and Senate Bill 1208 of the 2025 General Assembly set the parameters for the payment of custom performance grants to the company in exchange for the creation of 340 jobs and invest $2.2 billion and require the first payment to the company in fiscal year 2027. This amendment also addresses a technical update to language included in the introduced budget to reimburse Wythe County for improvements made for Progress Park. |
Funding Details
By Program | Program Code | Program Title | FY 2024 | FY 2025 |
534 | Economic Development Services | $0 | ($1,400,000) | |
By Fund | Fund Code | Fund Title | FY 2024 | FY 2025 |
01000 | General Fund | $0 | ($1,400,000) |
Authorized Position Details
By Program | Program Code | Program Title | FY 2024 | FY 2025 |
p3_opview - Official Enacted Budget View Operating Bullet Details - 06-21-2025 05:55:44