Provide Supplemental Training Funding

Item 108 #1h

Language
Page 104, line 21, strike "$12,497,519" and insert "$13,997,519".
Page 105, after line 24 insert:
"E.  Out of the amounts in this item, $1,500,000 the second year from the general fund shall be provided to offset training expenses for a major automotive employer operating a diesel assembly and test facility in the City of Newport News contingent upon such employer entering into a performance agreement with the Virginia Economic Development Partnership describing the employer’s commitments regarding job creation and retention.  The funds shall be administered in a manner similar to existing training grant programs such as those permitted by § 2.2-902, Code of Virginia.  The major automotive employer shall certify to the Secretary of Commerce and Trade that it has retained at least 500 jobs in the Commonwealth and has taken actions to increase employment by at least 250 new full-time jobs in the Commonwealth.  Any monies remaining on June 30, 2010, shall not revert to the general fund of the state treasury, but shall be carried forward and reappropriated for the purposes described in this paragraph."

Explanation
(This amendment would provide $1.5 million in additional training funding as an incentive for the location of an automotive supplier, Continental AG, to the Commonwealth. On December 15, 2008, Governor Kaine announced that Continental AG, a global automotive supplier, will consolidate its diesel and gasoline fuel injector manufacturing operations at its Newport News facility. As part of the relocation of its diesel fuel injector manufacturing operations to the Commonwealth and the expansion of the existing gasoline fuel injector business line, Continental AG will create 318 new jobs and invest $194 million.)