Innovation and Entrepreneurship Investment Authority [934]
Secretarial Area: Commerce and Trade
formerly under: Technology
Mission:
The Innovation and Entrepreneurship Investment Authority (IEIA), carries out its mission through an operating non-profit called the Center for Innovative Technology (CIT). CIT accelerates the next generation of technology and technology companies.
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. more...
More historical data is available for this agency on DPB's website under the
Virginia's Budget page. If you click on the Budget Round Description links under any of the "DPB Appropriation Database" tables and open the filter you can select various fields to get greater detail and you can select the official chapter data going back for several decades. The "Caboose" chapters are the final biennial budget approved by the General Assembly and signed into Law.
Check it out here
Biennium
Fiscal Year
Source
GF
NGF
Total
2008-2010
2009
Chapter 872, 2010 Acts of Assembly
$5,295,878
$0
$5,295,878
2008-2010
2010
Chapter 872, 2010 Acts of Assembly
$4,111,460
$0
$4,111,460
2010-2012
2011
Chapter 2, 2012 Acts of Assembly
$4,473,512
$0
$4,473,512
2010-2012
2012
Chapter 2, 2012 Acts of Assembly
$4,973,750
$0
$4,973,750
2012-2014
2013
Chapter 1, 2014 Acts of Assembly
$5,926,877
$0
$5,926,877
2012-2014
2014
Chapter 1, 2014 Acts of Assembly
$8,282,500
$0
$8,282,500
2014-2016
2015
Governor's Proposed Budget
$11,215,126
$0
$11,215,126
Base Budget
$8,282,500
$0
$8,282,500
Addenda (Changes to the Base)
$2,932,626
$0
$2,932,626
2014-2016
2016
Governor's Proposed Budget
$11,226,465
$0
$11,226,465
Base Budget
$8,282,500
$0
$8,282,500
Addenda (Changes to the Base)
$2,943,965
$0
$2,943,965
Positions Budget Summary
Biennium
Fiscal Year
Source
GF
NGF
Total
2008-2010
2009
Chapter 872, 2010 Acts of Assembly
0.00
0.00
0.00
2008-2010
2010
Chapter 872, 2010 Acts of Assembly
0.00
0.00
0.00
2010-2012
2011
Chapter 2, 2012 Acts of Assembly
0.00
0.00
0.00
2010-2012
2012
Chapter 2, 2012 Acts of Assembly
0.00
0.00
0.00
2012-2014
2013
Chapter 1, 2014 Acts of Assembly
0.00
0.00
0.00
2012-2014
2014
Chapter 1, 2014 Acts of Assembly
0.00
0.00
0.00
2014-2016
2015
Proposed Positions
0.00
0.00
0.00
Base Budget
0.00
0.00
0.00
Addenda (Changes to the Base)
0.00
0.00
0.00
2012-2014
2016
Proposed Positions
0.00
0.00
0.00
Base Budget
0.00
0.00
0.00
Addenda (Changes to the Base)
0.00
0.00
0.00
Operating Budget Addenda (in order of greatest impact)
•
Appropriate GAP program funding in IEIA
Base Budget Adjustment
Adjusts the IEIA (934) 2014-16 biennial budget to include the $3.2 million in GAP funding which is annually transferred to IEIA from Economic Development Incentive Payments (312). See Chapter 806, Item 105 L.
FY 2015
FY 2016
General Fund
$3,200,000
$3,200,000
•
Eliminate general fund appropriation for cyber accelerator program
Decision Package
Eliminates one-time funding for cyber accelerator program.
FY 2015
FY 2016
General Fund
($2,500,000)
($2,500,000)
•
Provide funding for Broadband planning and assistance to localities
Decision Package
Provides support for the Center for Innovative Technology to assist localities with the process of bringing wired broadband connectivity to the population of Virginians who currently lack such access to the internet.
FY 2015
FY 2016
General Fund
$1,048,253
$1,048,253
•
Support the cyber security and cyber data analytics industries
Decision Package
Increases funding for cyber security and cyber data analytics. The analytics will identify strategies to bring cyber security related jobs and industries to Virginia.
FY 2015
FY 2016
General Fund
$500,000
$500,000
•
Increase funding to the Growth Accelerator Program
Decision Package
Provides additional funding for the Growth Accelerator Program (GAP) to increase the number of eligible companies served.
FY 2015
FY 2016
General Fund
$500,000
$500,000
•
Conduct Modeling and Simulation initiatives
Decision Package
Provides additional support for research and programmatic activities, as well as fostering the growth and diversification within the Commonwealth’s initiatives in modeling and simulation. Funding will expand modeling and simulation into new activities including, but not limited to, health care, advanced manufacturing, and unmanned systems.
FY 2015
FY 2016
General Fund
$250,000
$250,000
•
Distribute Central Appropriation amounts to agency budgets
Base Budget Adjustment
Adjusts the agency budget to reflect amounts moved to or from Central Appropriations to cover the continued cost of public employee salary increases, increases in state employee health insurance premiums, changes in state employee retirement and other benefit contribution rates, and other centrally funded items being continued from the 2012-14 biennium into the 2014-16 biennium.
FY 2015
FY 2016
General Fund
($67,500)
($67,500)
•
Adjust funding to agencies for information technology and telecommunication charges
Decision Package
Adjusts the agency budget for information technology and telecommunication charges based on the required cost of living adjustments contained in the Northrop Grumman contract and the elimination of the debt recovery surcharge originally approved by the Joint Legislative Audit and Review Commission on July 12, 2010.
FY 2015
FY 2016
General Fund
$1,054
$12,393
•
Adjust agency appropriation for the cost of Performance Budgeting system charges
Decision Package
Provides appropriation to pay for the agency's share of ongoing Performance Budgeting system operating and maintenance costs. The general fund share of this cost was previously budgeted in Central Appropriations.
