2018 Session

Budget Amendments - SB30 (Committee Approved)

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Authorization for Additional VEDIG Grants (language only)

Item 103 #6s

Item 103 #6s

Commerce and Trade
Economic Development Incentive Payments


Page 84, line 7, strike "$4,000,000" and insert "$15,000,000".

Page 84, line 8, strike ", but before June 30, 2018".


(This amendment increases the Governor's authorization to award additional grants not to exceed $15.0 million in aggregate to eligible companies under the existing Virginia Economic Development Incentive Grant (VEDIG) program. Grant payments under the VEDIG program are paid in no less than five installments and do not begin until at least 36 months after the company has met capital investment and job creation targets. Grant awards are subject to appropriation by the General Assembly.)