About

 

On May 23, 2014, Governor Terry McAuliffe signed into law HB 1191 – Economic development incentive programs; Secretary of Commerce and Trade to develop and issue report on effectiveness of program. This law requires the Secretary of Commerce and Trade to submit an annual report to the Chairs of the Senate Finance and the House Appropriations and Finance Committees on the effectiveness of economic development incentive programs administered by the Commonwealth. The report covers a five-year period. Specified state agencies administering economic development programs are required to report to the Secretary the amount of grants made available under the program, number of jobs created, actual average wages paid, amount of capital investment, and similar data.

Under the direction of Secretary Maurice Jones, the Virginia Economic Development Partnership served as the aggregator of data on seventeen different incentive programs across nine separate and distinct entities. Secretary Jones’ goal is to provide data on incentive programs and relevant measures of program effectiveness in a transparent and easy-to-understand format. The participating entities and their programs are

  • Tobacco Region Revitalization Commission
  • Virginia Center for Innovative Technology
    • Growth Acceleration Program
  • Virginia Department of Agriculture and Consumer Services
    • Agriculture and Forestry Industries Development Fund – Facility Grant
  • Virginia Department of Housing & Community Development
    • Enterprise Zone Job Creation Grant Program
    • Enterprise Zone Real Property Investment Grant Program
  • Virginia Department of Rail & Public Transportation
    • Rail Industrial Access Fund
  • Virginia Department of Taxation
  • Virginia Department of Transportation
    • Economic Development Access Program
  • Virginia Economic Development Partnership
    • Aerospace Engine Manufacturing Performance Grant Program
    • Advanced Shipbuilding Training Facility Grant Program
    • Commonwealth’s Development Opportunity Fund (note: formerly Governor’s Development Opportunity Fund)
    • Economic Development Incentive Grant subfund
    • Investment Partnership Grant subfund
    • Major Eligible Employer Grant subfund
    • Semiconductor Memory or Logic Wager Manufacturing Performance Grant Program
    • Virginia Jobs Investment Program
  • Virginia Port Authority
    • Port of Virginia Economic and Infrastructure Development Grant
  • Virginia Tourism Corporation
    • Governor’s Motion Picture Opportunity Fund