2013 Session

Budget Amendments - HB1500 (Member Request)

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Chief Patron: Tata
Build Great Things Incubator

Item 123 #2h

Item 123 #2h

First Year - FY2013 Second Year - FY2014
Commerce And Trade
Virginia Economic Development Partnership FY2013 $0 FY2014 $212,000 GF

Page 97, line 18, strike "$17,824,746" and insert "$18,036,746".
Page 98, after line 39, insert:
"O. Out of this appropriation, $212,000 the second year from the general fund shall be provided to support business incubation services through Build Great Things which will open additional locations throughout Virginia to provide access to entrepreneurs throughout the Commonwealth by providing co-working and co-sharing office space."

(This amendment provides $212,000 the second year to the Build Great Things organization which provides incubation services and helps high-growth companies that commit to remain in the Commonwealth for at least five years. This allocation would be used toward capital injections of $10,000 per eligible member company and the investment is expected to create a minimum of 112 jobs and 60 new businesses in the first year.)