Semiconductor Memory or Logic Wafer Manufacturing Performance Grant Program
Performance grant tailored to semiconductor manufacturers.Discretionary , VEDP
The goal of awarding the Semiconductor Memory or Logic Wafer Manufacturing Performance Grant (SEMI) is to promote and expand semiconductor product manufacturing in the Commonwealth. This tailored performance-based grant is available to a qualified manufacturer of semiconductor memory or logic wafers that meets or exceeds requirements specified in the governing statute. The program uses the following metrics:
- Virginia jobs created
- Value of capital investment in Virginia
The incentive is paid after an approved performance agreement between the Commonwealth and company has been signed, and performance milestones have been achieved. The performance period is unique to each project and specified in the performance agreement; milestones reflect latest information received from company in the specified fiscal year.
There is a single project that has been incented under the Semiconductor Memory or Logic Wafer Manufacturing Grant Program. The project was awarded in FY2005 and completed in early FY2016. A total of $27,000,000 of incentives were awarded under the program in FY2005.
The average wage requirement for the program is greater than or equal to the prevailing average wage in the locality (Manassas City).