Chief Patron: Hackworth
Workforce Availability Study

Item 363 #2s

Language
Page 449, line 4, strike "$999,142" and insert "$1,049,142".

Page 449, line 10, before "The Secretary" insert “1.”

Page 449, after line 20, insert:

“2. The Secretary of Labor, Secretary of Commerce and Trade, and the Secretary of Agriculture and Forestry shall jointly conduct an analysis of workforce availability in the Commonwealth and its impact on the state economic development incentive payment program, the program requirements, and the ability of current and future payment recipients to meet those requirements. In conducting the analysis, the Secretaries shall consider the workforce availability for targeted industries in the different economic development regions of the Commonwealth and the ability of incentive payment applicants to meet the job creation requirements established in § 2.2-115 and § 3.2-306, Code of Virginia. The study should also consider the ratio for capital investment versus jobs created for the purposes of fulfilling economic development incentive payment requirements. The Secretaries shall competitively procure a third-party with national expertise to assist in conducting the study. The Secretaries shall report the findings of the study and their recommendations to the Governor, and the Chairman of the House Appropriations Committee and Chairman of the Senate Finance and Appropriations Committee no later than December 1, 2023. Until such study is completed, the Virginia Economic Development Partnership shall suspend all outstanding clawback notices required under the Commonwealth's Development Opportunity Fund established in § 2.2-115 and the Governor's Agriculture and Forestry Industries Development Fund as required in § 3.2- 306 due as of December 31, 2022. “