{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/2.2-5100.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/2.2-5100.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/2.2-5100.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/2.2-5100.html"}],"law_id":353341,"edition_id":2,"section_id":353341,"structure_id":50589,"section_number":"2.2-5100","catch_line":"Short title; definitions","history":"1999, cc. 875, 961, \u00a7\u00a7 2.1-548.43:1, 2.1-548.43:2; 2000, c. 571; 2001, c. 844; 2003, c. 17; 2005, c. 431; 2009, cc. 151, 174; 2012, cc. 196, 407.","full_text":"A\n\nThis chapter shall be known and may be cited as the “Virginia Investment Partnership Act.”\n\nB\n\nAs used in this chapter, unless the context requires a different meaning:\n\t\t\t“Average manufacturing wage” means that amount determined by the Virginia Employment Commission to be the average wage paid manufacturing workers in a locality or region of the Commonwealth.\n\n\t\t\t“Average nonmanufacturing wage” means that amount determined by the Virginia Employment Commission to be the average wage paid nonmanufacturing workers in basic employment in a locality or region of the Commonwealth.\n\n\t\t\t“Basic employment” means employment that brings new or additional income into Virginia and adds to the gross state product.\n\n\t\t\t“Capital investment” means an investment in real property, personal property, or both, at a manufacturing or basic nonmanufacturing facility within the Commonwealth that is capitalized by the company and that increases the productivity of the manufacturing facility, results in the creation, development or utilization of a more advanced technology than is in use immediately prior to such investment, or both. In order to qualify as a capital investment, an investment in technology shall result in a measurable increase in capacity or productivity, a measurable decrease in the production of flawed product, or both. Expenditures for maintenance, replacement or repair of existing machinery, tools and real property shall not constitute a capital investment; however, expenditures for the replacement of property shall not be ineligible for designation as a capital investment if such replacement results in a measurable increase in productivity.\n\n\t\t\t“Eligible company” means, for companies located in a Metropolitan Statistical Area with a population of 300,000 or more in the most recently preceding decennial census, a Virginia employer that:\n\n\t\t\ta. (i) creates or causes to be created at least 400 jobs with average salaries at least 50 percent greater than the Prevailing Average Wage or (ii) creates or causes to be created at least 300 jobs with average salaries at least 100 percent greater than the Prevailing Average Wage, and\n\n\t\t\tb. makes a capital investment of at least $5 million or $6,500 per job, whichever is greater.\n\n\t\t\tFor all companies located elsewhere in Virginia, “eligible company” shall mean a Virginia employer that creates or causes to be created at least 200 jobs with average salaries at least 50 percent greater than the Prevailing Average Wage, and making a capital investment of at least $6,500 per job.\n\n\t\t\t“Eligible manufacturer or research and development service” means an existing Virginia manufacturer or research and development service that makes a capital investment of at least $25 million that is announced on or after June 1, 1998, which investment does not result in any net reduction in employment within one year after the capital investment has been completed and verified. Any entity participating in any other production grant program in the Commonwealth shall not be an eligible manufacturer or research and development service.\n\n\t\t\t“Eligible research and development service” means an existing Virginia research and development service that supports manufacturing and that makes a capital investment of at least $25 million, which investment does not result in any net reduction in employment within one year after the capital investment has been completed and verified. Any entity participating in any other production grant program in the Commonwealth shall not be eligible.\n\n\t\t\t“Existing Virginia manufacturer” means a manufacturer that has a legal presence within the Commonwealth for at least three years prior to making the announcement of the capital investment that makes it an eligible manufacturer.\n\n\t\t\t“Flawed product” means an irregular unit of goods that cannot be sold to an end user.\n\n\t\t\t“Fund” means the Virginia Investment Partnership Grant Fund created pursuant to § 2.2-5104, comprised of (i) the Major Eligible Employer Grant subfund, (ii) the Investment Performance Grant subfund, and (iii) the Economic Development Incentive Grant subfund.\n\n\t\t\t“Major eligible employer” means an existing Virginia manufacturer or any other nonmanufacturing basic employer that makes a capital investment of at least $100 million and creates at least 1,000 jobs, or corporate headquarters and other basic employers that make a capital investment of at least $100 million and create at least 400 jobs paying at least twice the prevailing average wage for the area.\n\n\t\t\t“Manufacturer” means a business firm owning or operating a manufacturing establishment as defined in the Standard Industrial Classification Manual issued by the U.S. Office of Management and Budget or the North American Industry Classification System Manual issued by the United States Census Bureau.\n\n\t\t\t“Net present value of benefits to Virginia” means the present value of the amount by which (i) the anticipated additional state tax revenue expected to accrue to the Commonwealth as a result of the capital investment and jobs created, over a period following the completion of the capital investment not to exceed 20 years, exceeds (ii) the value of all incentives provided by the Commonwealth, including any grant under this article, for such capital investment during that period.\n\n\t\t\t“New job” means employment of an indefinite duration at the eligible facility, created as the direct result of the capital investment, for which the standard fringe benefits are paid by the firm for the employee, requiring a minimum of either (i) 35 hours of an employee’s time a week for the entire normal year of the firm’s operations, which “normal year” must consist of at least 48 weeks or (ii) 1,680 hours per year. Seasonal or temporary positions, positions created when a job function is shifted from an existing location in the Commonwealth to the facility, and positions with contractors, suppliers, and similar multiplier or spin-off jobs shall not qualify as new jobs under this article.\n\n\t\t\t“Partnership” means the Virginia Economic Development Partnership.\n\n\t\t\t“Prevailing Average Wage” means that amount determined by the Virginia Employment Commission to be the average wage paid workers in the city or county of the Commonwealth where the eligible company is located.\n\n\t\t\t“Productivity” means the number of hours of labor required to produce a unit of goods.\n\n\t\t\t“Research and development service” means a business firm owning or operating an establishment engaged in conducting research and experimental development that supports manufacturing in the physical, engineering and life sciences as defined in the North American Industry Classification System Manual issued by the United States Census Bureau.\n\n\t\t\t“Secretary” means the Secretary of Commerce and Trade.\n\n","order_by":null,"text":{"0":{"id":1316110,"text":"This chapter shall be known and may be cited as the “Virginia Investment Partnership Act.”","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":1316111,"text":"As used in this chapter, unless the context requires a different meaning:\n\t\t\t“Average manufacturing wage” means that amount determined by the Virginia Employment Commission to be the average wage paid manufacturing workers in a locality or region of the Commonwealth.\t\t\t“Average nonmanufacturing wage” means that amount determined by the Virginia Employment Commission to be the average wage paid nonmanufacturing workers in basic employment in a locality or region of the Commonwealth.\t\t\t“Basic employment” means employment that brings new or additional income into Virginia and adds to the gross state product.\t\t\t“Capital investment” means an investment in real property, personal property, or both, at a manufacturing or basic nonmanufacturing facility within the Commonwealth that is capitalized by the company and that increases the productivity of the manufacturing facility, results in the creation, development or utilization of a more advanced technology than is in use immediately prior to such investment, or both. In order to qualify as a capital investment, an investment in technology shall result in a measurable increase in capacity or productivity, a measurable decrease in the production of flawed product, or both. Expenditures for maintenance, replacement or repair of existing machinery, tools and real property shall not constitute a capital investment; however, expenditures for the replacement of property shall not be ineligible for designation as a capital investment if such replacement results in a measurable increase in productivity.\t\t\t“Eligible company” means, for companies located in a Metropolitan Statistical Area with a population of 300,000 or more in the most recently preceding decennial census, a Virginia employer that:\t\t\ta. (i) creates or causes to be created at least 400 jobs with average salaries at least 50 percent greater than the Prevailing Average Wage or (ii) creates or causes to be created at least 300 jobs with average salaries at least 100 percent greater than the Prevailing Average Wage, and\t\t\tb. makes a capital investment of at least $5 million or $6,500 per job, whichever is greater.\t\t\tFor all companies located elsewhere in Virginia, “eligible company” shall mean a Virginia employer that creates or causes to be created at least 200 jobs with average salaries at least 50 percent greater than the Prevailing Average Wage, and making a capital investment of at least $6,500 per job.\t\t\t“Eligible manufacturer or research and development service” means an existing Virginia manufacturer or research and development service that makes a capital investment of at least $25 million that is announced on or after June 1, 1998, which investment does not result in any net reduction in employment within one year after the capital investment has been completed and verified. Any entity participating in any other production grant program in the Commonwealth shall not be an eligible manufacturer or research and development service.\t\t\t“Eligible research and development service” means an existing Virginia research and development service that supports manufacturing and that makes a capital investment of at least $25 million, which investment does not result in any net reduction in employment within one year after the capital investment has been completed and verified. Any entity participating in any other production grant program in the Commonwealth shall not be eligible.\t\t\t“Existing Virginia manufacturer” means a manufacturer that has a legal presence within the Commonwealth for at least three years prior to making the announcement of the capital investment that makes it an eligible manufacturer.\t\t\t“Flawed product” means an irregular unit of goods that cannot be sold to an end user.\t\t\t“Fund” means the Virginia Investment Partnership Grant Fund created pursuant to § 2.2-5104, comprised of (i) the Major Eligible Employer Grant subfund, (ii) the Investment Performance Grant subfund, and (iii) the Economic Development Incentive Grant subfund.\t\t\t“Major eligible employer” means an existing Virginia manufacturer or any other nonmanufacturing basic employer that makes a capital investment of at least $100 million and creates at least 1,000 jobs, or corporate headquarters and other basic employers that make a capital investment of at least $100 million and create at least 400 jobs paying at least twice the prevailing average wage for the area.\t\t\t“Manufacturer” means a business firm owning or operating a manufacturing establishment as defined in the Standard Industrial Classification Manual issued by the U.S. Office of Management and Budget or the North American Industry Classification System Manual issued by the United States Census Bureau.\t\t\t“Net present value of benefits to Virginia” means the present value of the amount by which (i) the anticipated additional state tax revenue expected to accrue to the Commonwealth as a result of the capital investment and jobs created, over a period following the completion of the capital investment not to exceed 20 years, exceeds (ii) the value of all incentives provided by the Commonwealth, including any grant under this article, for such capital investment during that period.\t\t\t“New job” means employment of an indefinite duration at the eligible facility, created as the direct result of the capital investment, for which the standard fringe benefits are paid by the firm for the employee, requiring a minimum of either (i) 35 hours of an employee’s time a week for the entire normal year of the firm’s operations, which “normal year” must consist of at least 48 weeks or (ii) 1,680 hours per year. Seasonal or temporary positions, positions created when a job function is shifted from an existing location in the Commonwealth to the facility, and positions with contractors, suppliers, and similar multiplier or spin-off jobs shall not qualify as new jobs under this article.\t\t\t“Partnership” means the Virginia Economic Development Partnership.\t\t\t“Prevailing Average Wage” means that amount determined by the Virginia Employment Commission to be the average wage paid workers in the city or county of the Commonwealth where the eligible company is located.\t\t\t“Productivity” means the number of hours of labor required to produce a unit of goods.\t\t\t“Research and development service” means a business firm owning or operating an establishment engaged in conducting research and experimental development that supports manufacturing in the physical, engineering and life sciences as defined in the North American Industry Classification System Manual issued by the United States Census Bureau.\t\t\t“Secretary” means the Secretary of Commerce and Trade.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":50589,"edition_id":2,"name":"Virginia Investment Partnership Act","identifier":"51","label":"chapter","depth":4,"order_by":17,"parent_id":50539,"metadata":{"child_laws":6,"child_structures":0},"date_created":"2026-08-02 02:29:46","date_modified":"2026-08-02 12:27:25","permalink":{"id":1404753,"object_type":"structure","relational_id":50589,"identifier":"51","token":"2.2\/II\/B\/51","url":"\/2.2\/II\/B\/51\/","edition_id":2,"permalink":0,"preferred":1}},{"id":50539,"edition_id":2,"name":"Transaction of Public Business","identifier":"B","label":"part","depth":3,"order_by":2,"parent_id":50533,"metadata":{"child_laws":371,"child_structures":48},"date_created":"2026-08-02 02:28:57","date_modified":"2026-08-02 12:27:20","permalink":{"id":1403447,"object_type":"structure","relational_id":50539,"identifier":"B","token":"2.2\/II\/B","url":"\/2.2\/II\/B\/","edition_id":2,"permalink":0,"preferred":1}},{"id":50533,"edition_id":2,"name":"Administration of State Government","identifier":"II","label":"subtitle","depth":2,"order_by":2,"parent_id":50326,"metadata":{"child_laws":425,"child_structures":60},"date_created":"2026-08-02 02:28:53","date_modified":"2026-08-02 12:27:19","permalink":{"id":1403255,"object_type":"structure","relational_id":50533,"identifier":"II","token":"2.2\/II","url":"\/2.2\/II\/","edition_id":2,"permalink":0,"preferred":1}},{"id":50326,"edition_id":2,"name":"Administration of Government","identifier":"2.2","label":"title","depth":1,"order_by":3,"parent_id":null,"metadata":{"child_laws":1509,"child_structures":292},"date_created":"2026-08-02 02:26:49","date_modified":"2026-08-02 12:26:45","permalink":{"id":1398455,"object_type":"structure","relational_id":50326,"identifier":"2.2","token":"2.2","url":"\/2.2\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":353341,"structure_id":50589,"section_number":"2.2-5100","catch_line":"Short title; definitions","url":"\/2.2-5100\/","token":"2.2\/II\/B\/51\/2.2-5100","metadata":false},{"id":353342,"structure_id":50589,"section_number":"2.2-5101","catch_line":"Virginia investment performance grants","url":"\/2.2-5101\/","token":"2.2\/II\/B\/51\/2.2-5101","metadata":false},{"id":353344,"structure_id":50589,"section_number":"2.2-5102","catch_line":"Performance grant for major eligible manufacturers","url":"\/2.2-5102\/","token":"2.2\/II\/B\/51\/2.2-5102","metadata":false},{"id":353343,"structure_id":50589,"section_number":"2.2-5102.1","catch_line":"Virginia economic development incentive grants","url":"\/2.2-5102.1\/","token":"2.2\/II\/B\/51\/2.2-5102.1","metadata":false},{"id":353345,"structure_id":50589,"section_number":"2.2-5103","catch_line":"Requirements for grants generally","url":"\/2.2-5103\/","token":"2.2\/II\/B\/51\/2.2-5103","metadata":false},{"id":353346,"structure_id":50589,"section_number":"2.2-5104","catch_line":"Virginia Investment Partnership Grant Fund","url":"\/2.2-5104\/","token":"2.2\/II\/B\/51\/2.2-5104","metadata":false}],"next_section":{"id":353342,"structure_id":50589,"section_number":"2.2-5101","catch_line":"Virginia investment performance grants","url":"\/2.2-5101\/","token":"2.2\/II\/B\/51\/2.2-5101","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/2.2-5100\/","history_text":"

This law was first created in 1999. The record of its establishment is cataloged in chapters 875<\/a> and 961<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 6 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 2000, chapter 571<\/a>; in 2001, chapter 844<\/a>; in 2003, chapter 17<\/a>; in 2005, chapter 431<\/a>; in 2009, chapters 151<\/a> and 174<\/a>; in 2012, chapters 196<\/a> and 407<\/a>.<\/p>","references":[{"id":345687,"section_number":"10.1-1422.06","catch_line":"Beneficiation facility as manufacturer for grant purposes","order_by":null,"url":"\/10.1-1422.06\/"}],"refers_to":[{"id":353346,"section_number":"2.2-5104","catch_line":"Virginia Investment Partnership Grant Fund","order_by":null,"url":"\/2.2-5104\/"}],"permalink":{"id":1404755,"object_type":"law","relational_id":353341,"identifier":"2.2-5100","token":"2.2\/II\/B\/51\/2.2-5100","url":"\/2.2-5100\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/2.2-5100\/","token":"2.2\/II\/B\/51\/2.2-5100","dublin_core":{"Title":"Short title; definitions","Type":"Text","Format":"text\/html","Identifier":"\u00a7 2.2-5100","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> This chapter shall be known and may be cited as the “Virginia Investment Partnership<\/span> Act.” <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> As used in this chapter, unless the context requires a different meaning:\n\t\t\t“Average manufacturing wage<\/span>” means that amount determined by the Virginia Employment Commission to be the average wage paid manufacturing workers in a locality or region of the Commonwealth.

\t\t\t“Average nonmanufacturing wage<\/span>” means that amount determined by the Virginia Employment Commission to be the average wage paid nonmanufacturing workers in basic employment<\/span> in a locality or region of the Commonwealth.

\t\t\t“Basic employment<\/span>” means employment that brings new or additional income into Virginia and adds to the gross state product.

\t\t\t“Capital investment<\/span>” means an investment in real property, personal property, or both, at a manufacturing or basic nonmanufacturing facility within the Commonwealth that is capitalized by the company and that increases the productivity<\/span> of the manufacturing facility, results in the creation, development or utilization of a more advanced technology than is in use immediately prior to such investment, or both. In order<\/span> to qualify as a capital investment<\/span>, an investment in technology shall result in a measurable increase in capacity or productivity<\/span>, a measurable decrease in the production of flawed product<\/span>, or both. Expenditures for maintenance, replacement or repair of existing machinery, tools and real property shall not constitute a capital investment<\/span>; however, expenditures for the replacement of property shall not be ineligible for designation as a capital investment<\/span> if such replacement results in a measurable increase in productivity<\/span>.

\t\t\t“Eligible company<\/span>” means, for companies located in a Metropolitan Statistical Area with a population of 300,000 or more in the most recently preceding decennial census, a Virginia employer that:

\t\t\ta. (i) creates or causes to be created at least 400 jobs with average salaries at least 50 percent greater than the Prevailing Average Wage<\/span> or (ii) creates or causes to be created at least 300 jobs with average salaries at least 100 percent greater than the Prevailing Average Wage<\/span>, and

\t\t\tb. makes a capital investment<\/span> of at least $5 million or $6,500 per job, whichever is greater.

\t\t\tFor all companies located elsewhere in Virginia, “eligible company<\/span>” shall mean a Virginia employer that creates or causes to be created at least 200 jobs with average salaries at least 50 percent greater than the Prevailing Average Wage<\/span>, and making a capital investment<\/span> of at least $6,500 per job.

\t\t\t“Eligible manufacturer or research and development service<\/span><\/span>” means an existing Virginia manufacturer<\/span> or research and development service<\/span> that makes a capital investment<\/span> of at least $25 million that is announced on or after June 1, 1998, which investment does not result in any net reduction in employment within one year after the capital investment<\/span> has been completed and verified. Any entity participating in any other production grant program in the Commonwealth shall not be an eligible manufacturer or research and development service<\/span><\/span>.

\t\t\t“Eligible research and development service<\/span>” means an existing Virginia research and development service<\/span> that supports manufacturing and that makes a capital investment<\/span> of at least $25 million, which investment does not result in any net reduction in employment within one year after the capital investment<\/span> has been completed and verified. Any entity participating in any other production grant program in the Commonwealth shall not be eligible.

\t\t\t“Existing Virginia manufacturer<\/span>” means a manufacturer that has a legal presence within the Commonwealth for at least three years prior to making the announcement of the capital investment<\/span> that makes it an eligible manufacturer.

\t\t\t“Flawed product<\/span>” means an irregular unit of goods that cannot be sold to an end user.

\t\t\t“Fund<\/span>” means the Virginia Investment Partnership<\/span> Grant Fund<\/span> created pursuant to § 2.2-5104<\/a>, comprised of (i) the Major Eligible Employer<\/span> Grant subfund, (ii) the Investment Performance Grant subfund, and (iii) the Economic Development Incentive Grant subfund.

\t\t\t“Major eligible employer<\/span>” means an existing Virginia manufacturer<\/span> or any other nonmanufacturing basic employer that makes a capital investment<\/span> of at least $100 million and creates at least 1,000 jobs, or corporate headquarters and other basic employers that make a capital investment<\/span> of at least $100 million and create at least 400 jobs paying at least twice the prevailing average wage<\/span> for the area.

\t\t\t“Manufacturer” means a business firm owning or operating a manufacturing establishment as defined in the Standard Industrial Classification Manual issued by the U.S. Office of Management and Budget or the North American Industry Classification System Manual issued by the United States Census Bureau.

\t\t\t“Net present value of benefits to Virginia<\/span>” means the present value of the amount by which (i) the anticipated additional state tax revenue expected to accrue to the Commonwealth as a result of the capital investment<\/span> and jobs created, over a period following the completion of the capital investment<\/span> not to exceed 20 years, exceeds (ii) the value of all incentives provided by the Commonwealth, including any grant under this article, for such capital investment<\/span> during that period.

\t\t\t“New job<\/span>” means employment of an indefinite duration at the eligible facility, created as the direct result of the capital investment<\/span>, for which the standard fringe benefits are paid by the firm for the employee, requiring a minimum of either (i) 35 hours of an employee’s time a week for the entire normal year<\/span> of the firm’s operations, which “normal year<\/span>” must consist of at least 48 weeks or (ii) 1,680 hours per year. Seasonal or temporary positions, positions created when a job function is shifted from an existing location in the Commonwealth to the facility, and positions with contractors, suppliers, and similar multiplier or spin-off jobs shall not qualify as new jobs<\/span> under this article.

\t\t\t“Partnership<\/span>” means the Virginia Economic Development Partnership<\/span>.

\t\t\t“Prevailing Average Wage<\/span>” means that amount determined by the Virginia Employment Commission to be the average wage paid workers in the city or county of the Commonwealth where the eligible company<\/span> is located.

\t\t\t“Productivity<\/span>” means the number of hours of labor required to produce a unit of goods.

\t\t\t“Research and development service<\/span>” means a business firm owning or operating an establishment engaged in conducting research and experimental development that supports manufacturing in the physical, engineering and life sciences as defined in the North American Industry Classification System Manual issued by the United States Census Bureau.

\t\t\t“Secretary<\/span>” means the Secretary<\/span> of Commerce and Trade. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nSHORT TITLE; DEFINITIONS (\u00a7 2.2-5100)\n\nA. This chapter shall be known and may be cited as the “Virginia\nInvestment Partnership Act.”\n\nB. As used in this chapter, unless the context requires a different meaning:\n\t\t\t“Average manufacturing wage” means that amount determined by the\nVirginia Employment Commission to be the average wage paid manufacturing workers\nin a locality or region of the Commonwealth.\t\t\t“Average nonmanufacturing\nwage” means that amount determined by the Virginia Employment Commission\nto be the average wage paid nonmanufacturing workers in basic employment in a\nlocality or region of the Commonwealth.\t\t\t“Basic employment” means\nemployment that brings new or additional income into Virginia and adds to the\ngross state product.\t\t\t“Capital investment” means an investment in\nreal property, personal property, or both, at a manufacturing or basic\nnonmanufacturing facility within the Commonwealth that is capitalized by the\ncompany and that increases the productivity of the manufacturing facility,\nresults in the creation, development or utilization of a more advanced\ntechnology than is in use immediately prior to such investment, or both. In\norder to qualify as a capital investment, an investment in technology shall\nresult in a measurable increase in capacity or productivity, a measurable\ndecrease in the production of flawed product, or both. Expenditures for\nmaintenance, replacement or repair of existing machinery, tools and real\nproperty shall not constitute a capital investment; however, expenditures for\nthe replacement of property shall not be ineligible for designation as a capital\ninvestment if such replacement results in a measurable increase in\nproductivity.\t\t\t“Eligible company” means, for companies located in a\nMetropolitan Statistical Area with a population of 300,000 or more in the most\nrecently preceding decennial census, a Virginia employer that:\t\t\ta. (i) creates\nor causes to be created at least 400 jobs with average salaries at least 50\npercent greater than the Prevailing Average Wage or (ii) creates or causes to be\ncreated at least 300 jobs with average salaries at least 100 percent greater\nthan the Prevailing Average Wage, and\t\t\tb. makes a capital investment of at\nleast $5 million or $6,500 per job, whichever is greater.\t\t\tFor all companies\nlocated elsewhere in Virginia, “eligible company” shall mean a\nVirginia employer that creates or causes to be created at least 200 jobs with\naverage salaries at least 50 percent greater than the Prevailing Average Wage,\nand making a capital investment of at least $6,500 per job.\t\t\t“Eligible\nmanufacturer or research and development service” means an existing\nVirginia manufacturer or research and development service that makes a capital\ninvestment of at least $25 million that is announced on or after June 1, 1998,\nwhich investment does not result in any net reduction in employment within one\nyear after the capital investment has been completed and verified. Any entity\nparticipating in any other production grant program in the Commonwealth shall\nnot be an eligible manufacturer or research and development\nservice.\t\t\t“Eligible research and development service” means an\nexisting Virginia research and development service that supports manufacturing\nand that makes a capital investment of at least $25 million, which investment\ndoes not result in any net reduction in employment within one year after the\ncapital investment has been completed and verified. Any entity participating in\nany other production grant program in the Commonwealth shall not be\neligible.\t\t\t“Existing Virginia manufacturer” means a manufacturer\nthat has a legal presence within the Commonwealth for at least three years prior\nto making the announcement of the capital investment that makes it an eligible\nmanufacturer.\t\t\t“Flawed product” means an irregular unit of goods\nthat cannot be sold to an end user.\t\t\t“Fund” means the Virginia\nInvestment Partnership Grant Fund created pursuant to § 2.2-5104, comprised\nof (i) the Major Eligible Employer Grant subfund, (ii) the Investment\nPerformance Grant subfund, and (iii) the Economic Development Incentive Grant\nsubfund.\t\t\t“Major eligible employer” means an existing Virginia\nmanufacturer or any other nonmanufacturing basic employer that makes a capital\ninvestment of at least $100 million and creates at least 1,000 jobs, or\ncorporate headquarters and other basic employers that make a capital investment\nof at least $100 million and create at least 400 jobs paying at least twice the\nprevailing average wage for the area.\t\t\t“Manufacturer” means a\nbusiness firm owning or operating a manufacturing establishment as defined in\nthe Standard Industrial Classification Manual issued by the U.S. Office of\nManagement and Budget or the North American Industry Classification System\nManual issued by the United States Census Bureau.\t\t\t“Net present value of\nbenefits to Virginia” means the present value of the amount by which (i)\nthe anticipated additional state tax revenue expected to accrue to the\nCommonwealth as a result of the capital investment and jobs created, over a\nperiod following the completion of the capital investment not to exceed 20\nyears, exceeds (ii) the value of all incentives provided by the Commonwealth,\nincluding any grant under this article, for such capital investment during that\nperiod.\t\t\t“New job” means employment of an indefinite duration at\nthe eligible facility, created as the direct result of the capital investment,\nfor which the standard fringe benefits are paid by the firm for the employee,\nrequiring a minimum of either (i) 35 hours of an employee’s time a week\nfor the entire normal year of the firm’s operations, which “normal\nyear” must consist of at least 48 weeks or (ii) 1,680 hours per year.\nSeasonal or temporary positions, positions created when a job function is\nshifted from an existing location in the Commonwealth to the facility, and\npositions with contractors, suppliers, and similar multiplier or spin-off jobs\nshall not qualify as new jobs under this article.\t\t\t“Partnership”\nmeans the Virginia Economic Development Partnership.\t\t\t“Prevailing Average\nWage” means that amount determined by the Virginia Employment Commission\nto be the average wage paid workers in the city or county of the Commonwealth\nwhere the eligible company is located.\t\t\t“Productivity” means the\nnumber of hours of labor required to produce a unit of goods.\t\t\t“Research\nand development service” means a business firm owning or operating an\nestablishment engaged in conducting research and experimental development that\nsupports manufacturing in the physical, engineering and life sciences as defined\nin the North American Industry Classification System Manual issued by the United\nStates Census Bureau.\t\t\t“Secretary” means the Secretary of Commerce\nand Trade.\n\nHISTORY: 1999, cc. 875, 961, \u00a7\u00a7 2.1-548.43:1, 2.1-548.43:2; 2000, c. 571;\n2001, c. 844; 2003, c. 17; 2005, c. 431; 2009, cc. 151, 174; 2012, cc. 196, 407.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}