{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/62.1-132.3_2.2.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/62.1-132.3_2.2.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/62.1-132.3_2.2.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/62.1-132.3_2.2.html"}],"law_id":66782,"edition_id":1,"section_id":66782,"structure_id":13423,"section_number":"62.1-132.3:2.2","catch_line":"Economic and Infrastructure Development Grant Program","history":"2023, cc. 238, 239.","full_text":"A\n\nAs used in this section, unless the context requires a different meaning:\n\t\t\t“Fund” means the Port of Virginia Economic Development Grant Fund established by § 62.1-132.3:2.1.\n\t\t\t“New, permanent full-time position” means a job of an indefinite duration, created by a qualified company as a result of operations within the Commonwealth, requiring a minimum of 35 hours of an employee’s time per week for the entire normal year of the company’s operations, which normal year shall consist of at least 48 weeks, or a position of indefinite duration that requires a minimum of 35 hours of an employee’s time per week for the portion of the taxable year in which the employee was initially hired for the qualified company’s location within the Commonwealth. “New, permanent full-time position” includes security positions as required within a foreign trade zone, established pursuant to the Foreign Trade Zones Act of 1934, as amended (19 U.S.C. §§ 81a through 81u). “New, permanent full-time position” does not include seasonal or temporary positions, jobs created when a position is shifted from an existing location in the Commonwealth to the qualified company’s new or expanded location, or positions in building and grounds maintenance or other positions that are ancillary to the principal activities performed by the employees at the qualified company’s location within the Commonwealth.\n\t\t\t“Qualified company” means a corporation, limited liability company, partnership, joint venture, or other business entity that (i) locates or expands a facility within the Commonwealth; (ii) creates at least 25 new, permanent full-time positions for qualified full-time employees at a facility within the Commonwealth during its first year of operation or during the year when the expansion occurs; (iii) is involved in maritime commerce or exports or imports manufactured goods through the Port of Virginia; (iv) is engaged in the distribution, freight forwarding, freight handling, goods processing, manufacturing, warehousing, crossdocking, transloading, or wholesaling of goods exported and imported through the Port of Virginia; ship building and ship repair; dredging; marine construction; or offshore energy exploration or extraction; and (v) pays a minimum entry-level wage rate per hour of at least 1.2 times the federal minimum wage or the Virginia minimum wage, as required by the Virginia Minimum Wage Act (§ 40.1-28.8 et seq.), whichever is higher. In areas that have an unemployment rate of one and one-half times the statewide average unemployment rate, the wage rate minimum may be waived by the Authority. Only full-time positions that qualify for benefits shall be eligible for assistance.\n\t\t\t“Qualified full-time employee” means an employee filling a new, permanent full-time position in the qualified company’s location within the Commonwealth. “Qualified full-time employee” does not include an employee (i) for whom a tax credit was previously earned pursuant to § 58.1-439 or 58.1-439.12:06 by a related party as listed in § 267(b) of the Internal Revenue Code or by a trade or business under common control as defined in regulations issued pursuant to § 52(b) of the Internal Revenue Code; (ii) who was previously employed in the same job function at an existing location in the Commonwealth by a related party as listed in § 267(b) of the Internal Revenue Code; or (iii) whose job function was previously performed at a different location in the Commonwealth by an employee of a related party as listed in § 267(b) of the Internal Revenue Code or a trade or business under common control as defined in regulations issued pursuant to § 52(b) of the Internal Revenue Code.B\n\nThe Port of Virginia shall develop as a component of the Port of Virginia Economic Development Program the Economic and Infrastructure Development Grant Program.C\n\nBeginning January 1, 2025, and subject to appropriation, any qualified company that locates or expands a facility within the Commonwealth shall be eligible to apply for a one-time grant from the Fund, in an amount determined as follows:1\n\nIf the qualified company creates at least 25 new, permanent full-time positions for qualified full-time employees during its first year of operation or during the year in which the expansion occurs, $1,000 per new, permanent full-time position;2\n\nIf the qualified company creates at least 50 new, permanent full-time positions for qualified full-time employees during its first year of operation or during the year in which the expansion occurs, $1,500 per new, permanent full-time position;3\n\nIf the qualified company creates at least 75 new, permanent full-time positions for qualified full-time employees during its first year of operation or during the year in which the expansion occurs, $2,000 per new, permanent full-time position; and4\n\nIf the qualified company creates at least 100 new, permanent full-time positions for qualified full-time employees during its first year of operation or during the year in which the expansion occurs, $3,000 per new, permanent full-time position.E\n\nTo qualify for a grant pursuant to this section, a qualified company must apply for the grant not later than March 31 in the year immediately following the location or expansion of a facility within the Commonwealth pursuant to an application process developed by the Virginia Port Authority. Within 90 days after the filing deadline, the Executive Director shall certify to the Comptroller and the qualified company the amount of grant to which the qualified company is entitled under this section. Payment of each grant shall be made by check issued by the State Treasurer on warrant of the Comptroller within 60 days of such certification and in the order that each completed eligible application is received.F\n\nA qualified company that has received a grant in accordance with the requirements provided in this section shall be eligible for a second grant from the Fund if it (i) locates or expands an additional facility in a separate location, as determined by the Virginia Port Authority, within the Commonwealth; (ii) creates at least 300 new, permanent full-time positions at the additional facility over and above those agreed upon in the qualified company’s original memorandum of understanding with the Virginia Port Authority; and (iii) increases cargo volumes through the Port of Virginia by at least five percent, not including any volume increase resulting from the original grant, from the additional facility. If the qualified company satisfies the requirements provided in this subsection and receives a grant consistent with the requirements of this section, then the qualified company shall enter into another separate memorandum of understanding with the Virginia Port Authority as provided in subsection G.G\n\nPrior to receipt of a grant, the qualified company shall enter into a memorandum of understanding with the Virginia Port Authority establishing the requirements for maintaining the number of new, permanent full-time positions for qualified employees at the qualified company’s location within the Commonwealth. If the number of new, permanent full-time positions for any of the three years immediately following receipt of a grant falls below the number of new, permanent full-time positions created during the year for which the grant is claimed, the amount of the grant shall be recalculated using the decreased number of new, permanent full-time positions, and the qualified company shall repay the difference.H\n\nNo qualified company shall apply for a grant, nor shall one be awarded under this section to an otherwise qualified company, if (i) a credit pursuant to § 58.1-439 or 58.1-439.12:06 or a grant pursuant to § 62.1-132.3:2.3 is claimed for the same employees or for capital expenditures at the same facility by the qualified company, by a related party as listed in § 267(b) of the Internal Revenue Code, or by a trade or business under common control as defined in regulations issued pursuant to § 52(b) of the Internal Revenue Code or (ii) the qualified company was a party to a reorganization as defined in § 368(b) of the Internal Revenue Code, and any corporation involved in the reorganization as defined in § 368(a) of the Internal Revenue Code previously received a grant under this section for the same facility or operations.I\n\nThe Virginia Port Authority, with the assistance of the Virginia Economic Development Partnership, shall develop guidelines establishing procedures and requirements for qualifying for the grant, including the affirmative determination that each applicant is a qualified company, as defined above, engaged in a port-related business. The guidelines shall be exempt from the Administrative Process Act (§ 2.2-4000 et seq.). For the purposes of administering this grant program, the Virginia Port Authority and the Department of Taxation shall exchange information regarding whether a qualified company, a related party as listed in § 267(b) of the Internal Revenue Code, or a trade or business under common control as defined in regulations issued pursuant to § 52(b) of the Internal Revenue Code has claimed a credit pursuant to § 58.1-439 or 58.1-439.12:06 or a grant pursuant to § 62.1-132.3:2.3 for the same employees or for capital expenditures at the same facility.","order_by":null,"text":{"0":{"id":242197,"text":"As used in this section, unless the context requires a different meaning:\n\t\t\t“Fund” means the Port of Virginia Economic Development Grant Fund established by § 62.1-132.3:2.1.\n\t\t\t“New, permanent full-time position” means a job of an indefinite duration, created by a qualified company as a result of operations within the Commonwealth, requiring a minimum of 35 hours of an employee’s time per week for the entire normal year of the company’s operations, which normal year shall consist of at least 48 weeks, or a position of indefinite duration that requires a minimum of 35 hours of an employee’s time per week for the portion of the taxable year in which the employee was initially hired for the qualified company’s location within the Commonwealth. “New, permanent full-time position” includes security positions as required within a foreign trade zone, established pursuant to the Foreign Trade Zones Act of 1934, as amended (19 U.S.C. §§ 81a through 81u). “New, permanent full-time position” does not include seasonal or temporary positions, jobs created when a position is shifted from an existing location in the Commonwealth to the qualified company’s new or expanded location, or positions in building and grounds maintenance or other positions that are ancillary to the principal activities performed by the employees at the qualified company’s location within the Commonwealth.\n\t\t\t“Qualified company” means a corporation, limited liability company, partnership, joint venture, or other business entity that (i) locates or expands a facility within the Commonwealth; (ii) creates at least 25 new, permanent full-time positions for qualified full-time employees at a facility within the Commonwealth during its first year of operation or during the year when the expansion occurs; (iii) is involved in maritime commerce or exports or imports manufactured goods through the Port of Virginia; (iv) is engaged in the distribution, freight forwarding, freight handling, goods processing, manufacturing, warehousing, crossdocking, transloading, or wholesaling of goods exported and imported through the Port of Virginia; ship building and ship repair; dredging; marine construction; or offshore energy exploration or extraction; and (v) pays a minimum entry-level wage rate per hour of at least 1.2 times the federal minimum wage or the Virginia minimum wage, as required by the Virginia Minimum Wage Act (§ 40.1-28.8 et seq.), whichever is higher. In areas that have an unemployment rate of one and one-half times the statewide average unemployment rate, the wage rate minimum may be waived by the Authority. Only full-time positions that qualify for benefits shall be eligible for assistance.\n\t\t\t“Qualified full-time employee” means an employee filling a new, permanent full-time position in the qualified company’s location within the Commonwealth. “Qualified full-time employee” does not include an employee (i) for whom a tax credit was previously earned pursuant to § 58.1-439 or 58.1-439.12:06 by a related party as listed in § 267(b) of the Internal Revenue Code or by a trade or business under common control as defined in regulations issued pursuant to § 52(b) of the Internal Revenue Code; (ii) who was previously employed in the same job function at an existing location in the Commonwealth by a related party as listed in § 267(b) of the Internal Revenue Code; or (iii) whose job function was previously performed at a different location in the Commonwealth by an employee of a related party as listed in § 267(b) of the Internal Revenue Code or a trade or business under common control as defined in regulations issued pursuant to § 52(b) of the Internal Revenue Code.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":242198,"text":"The Port of Virginia shall develop as a component of the Port of Virginia Economic Development Program the Economic and Infrastructure Development Grant Program.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":242199,"text":"Beginning January 1, 2025, and subject to appropriation, any qualified company that locates or expands a facility within the Commonwealth shall be eligible to apply for a one-time grant from the Fund, in an amount determined as follows:","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"C1"},"3":{"id":242200,"text":"If the qualified company creates at least 25 new, permanent full-time positions for qualified full-time employees during its first year of operation or during the year in which the expansion occurs, $1,000 per new, permanent full-time position;","type":"section","prefixes":["C","1"],"prefix":"1","entire_prefix":"C1","prefix_anchor":"C1","level":2,"prior_prefix":"C","next_prefix":"C2"},"4":{"id":242201,"text":"If the qualified company creates at least 50 new, permanent full-time positions for qualified full-time employees during its first year of operation or during the year in which the expansion occurs, $1,500 per new, permanent full-time position;","type":"section","prefixes":["C","2"],"prefix":"2","entire_prefix":"C2","prefix_anchor":"C2","level":2,"prior_prefix":"C1","next_prefix":"C3"},"5":{"id":242202,"text":"If the qualified company creates at least 75 new, permanent full-time positions for qualified full-time employees during its first year of operation or during the year in which the expansion occurs, $2,000 per new, permanent full-time position; and","type":"section","prefixes":["C","3"],"prefix":"3","entire_prefix":"C3","prefix_anchor":"C3","level":2,"prior_prefix":"C2","next_prefix":"C4"},"6":{"id":242203,"text":"If the qualified company creates at least 100 new, permanent full-time positions for qualified full-time employees during its first year of operation or during the year in which the expansion occurs, $3,000 per new, permanent full-time position.","type":"section","prefixes":["C","4"],"prefix":"4","entire_prefix":"C4","prefix_anchor":"C4","level":2,"prior_prefix":"C3","next_prefix":"E"},"7":{"id":242204,"text":"To qualify for a grant pursuant to this section, a qualified company must apply for the grant not later than March 31 in the year immediately following the location or expansion of a facility within the Commonwealth pursuant to an application process developed by the Virginia Port Authority. Within 90 days after the filing deadline, the Executive Director shall certify to the Comptroller and the qualified company the amount of grant to which the qualified company is entitled under this section. Payment of each grant shall be made by check issued by the State Treasurer on warrant of the Comptroller within 60 days of such certification and in the order that each completed eligible application is received.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"C4","next_prefix":"F"},"8":{"id":242205,"text":"A qualified company that has received a grant in accordance with the requirements provided in this section shall be eligible for a second grant from the Fund if it (i) locates or expands an additional facility in a separate location, as determined by the Virginia Port Authority, within the Commonwealth; (ii) creates at least 300 new, permanent full-time positions at the additional facility over and above those agreed upon in the qualified company’s original memorandum of understanding with the Virginia Port Authority; and (iii) increases cargo volumes through the Port of Virginia by at least five percent, not including any volume increase resulting from the original grant, from the additional facility. If the qualified company satisfies the requirements provided in this subsection and receives a grant consistent with the requirements of this section, then the qualified company shall enter into another separate memorandum of understanding with the Virginia Port Authority as provided in subsection G.","type":"section","prefixes":["F"],"prefix":"F","entire_prefix":"F","prefix_anchor":"F","level":1,"prior_prefix":"E","next_prefix":"G"},"9":{"id":242206,"text":"Prior to receipt of a grant, the qualified company shall enter into a memorandum of understanding with the Virginia Port Authority establishing the requirements for maintaining the number of new, permanent full-time positions for qualified employees at the qualified company’s location within the Commonwealth. If the number of new, permanent full-time positions for any of the three years immediately following receipt of a grant falls below the number of new, permanent full-time positions created during the year for which the grant is claimed, the amount of the grant shall be recalculated using the decreased number of new, permanent full-time positions, and the qualified company shall repay the difference.","type":"section","prefixes":["G"],"prefix":"G","entire_prefix":"G","prefix_anchor":"G","level":1,"prior_prefix":"F","next_prefix":"H"},"10":{"id":242207,"text":"No qualified company shall apply for a grant, nor shall one be awarded under this section to an otherwise qualified company, if (i) a credit pursuant to § 58.1-439 or 58.1-439.12:06 or a grant pursuant to § 62.1-132.3:2.3 is claimed for the same employees or for capital expenditures at the same facility by the qualified company, by a related party as listed in § 267(b) of the Internal Revenue Code, or by a trade or business under common control as defined in regulations issued pursuant to § 52(b) of the Internal Revenue Code or (ii) the qualified company was a party to a reorganization as defined in § 368(b) of the Internal Revenue Code, and any corporation involved in the reorganization as defined in § 368(a) of the Internal Revenue Code previously received a grant under this section for the same facility or operations.","type":"section","prefixes":["H"],"prefix":"H","entire_prefix":"H","prefix_anchor":"H","level":1,"prior_prefix":"G","next_prefix":"I"},"11":{"id":242208,"text":"The Virginia Port Authority, with the assistance of the Virginia Economic Development Partnership, shall develop guidelines establishing procedures and requirements for qualifying for the grant, including the affirmative determination that each applicant is a qualified company, as defined above, engaged in a port-related business. The guidelines shall be exempt from the Administrative Process Act (§ 2.2-4000 et seq.). For the purposes of administering this grant program, the Virginia Port Authority and the Department of Taxation shall exchange information regarding whether a qualified company, a related party as listed in § 267(b) of the Internal Revenue Code, or a trade or business under common control as defined in regulations issued pursuant to § 52(b) of the Internal Revenue Code has claimed a credit pursuant to § 58.1-439 or 58.1-439.12:06 or a grant pursuant to § 62.1-132.3:2.3 for the same employees or for capital expenditures at the same facility.","type":"section","prefixes":["I"],"prefix":"I","entire_prefix":"I","prefix_anchor":"I","level":1,"prior_prefix":"H"}},"ancestry":[{"id":13423,"edition_id":1,"name":"Virginia Port Authority","identifier":"10","label":"chapter","depth":2,"order_by":1,"parent_id":12909,"metadata":{},"date_created":"2026-06-26 03:44:52","date_modified":"2026-06-26 03:44:52","permalink":{"id":268231,"object_type":"structure","relational_id":13423,"identifier":"10","token":"62.1\/10","url":"\/62.1\/10\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12909,"edition_id":1,"name":"Waters of the State, Ports and Harbors","identifier":"62.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:44:00","date_modified":"2026-06-26 03:44:00","permalink":{"id":268199,"object_type":"structure","relational_id":12909,"identifier":"62.1","token":"62.1","url":"\/62.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":63656,"structure_id":13423,"section_number":"62.1-128","catch_line":"Authority created","url":"\/62.1-128\/","token":"62.1\/10\/62.1-128","metadata":false},{"id":65543,"structure_id":13423,"section_number":"62.1-129","catch_line":"Board of Commissioners; members and officers; Executive Director; agents and employees","url":"\/62.1-129\/","token":"62.1\/10\/62.1-129","metadata":false},{"id":59839,"structure_id":13423,"section_number":"62.1-129.1","catch_line":"Employees; employment; personnel rules; health insurance; retirement plans","url":"\/62.1-129.1\/","token":"62.1\/10\/62.1-129.1","metadata":false},{"id":79408,"structure_id":13423,"section_number":"62.1-129.2","catch_line":"Trust for postemployment benefits authorized; administration","url":"\/62.1-129.2\/","token":"62.1\/10\/62.1-129.2","metadata":false},{"id":83097,"structure_id":13423,"section_number":"62.1-130","catch_line":"Powers and duties of Executive Director","url":"\/62.1-130\/","token":"62.1\/10\/62.1-130","metadata":false},{"id":59763,"structure_id":13423,"section_number":"62.1-131","catch_line":"Office and branch offices; title to property","url":"\/62.1-131\/","token":"62.1\/10\/62.1-131","metadata":false},{"id":66040,"structure_id":13423,"section_number":"62.1-132","catch_line":"Local authorities subordinate to Authority","url":"\/62.1-132\/","token":"62.1\/10\/62.1-132","metadata":false},{"id":72875,"structure_id":13423,"section_number":"62.1-132.1","catch_line":"General powers","url":"\/62.1-132.1\/","token":"62.1\/10\/62.1-132.1","metadata":false},{"id":84095,"structure_id":13423,"section_number":"62.1-132.10","catch_line":"Publications of Authority","url":"\/62.1-132.10\/","token":"62.1\/10\/62.1-132.10","metadata":false},{"id":66130,"structure_id":13423,"section_number":"62.1-132.11","catch_line":"Police powers; 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This law was first created in 2023. The record of its establishment is cataloged in chapters 238<\/a> and 239<\/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.<\/p>","references":[{"id":65940,"section_number":"62.1-132.3:2.1","catch_line":"Port of Virginia Economic Development Grant Program and Fund","order_by":null,"url":"\/62.1-132.3_2.1\/"},{"id":61424,"section_number":"62.1-132.3:2.3","catch_line":"International Trade Facility Grant Program","order_by":null,"url":"\/62.1-132.3_2.3\/"}],"refers_to":[{"id":86911,"section_number":"2.2-4000","catch_line":"Short title; purpose","order_by":null,"url":"\/2.2-4000\/"},{"id":74676,"section_number":"40.1-28.8","catch_line":"Short title","order_by":null,"url":"\/40.1-28.8\/"},{"id":62311,"section_number":"58.1-439","catch_line":"Major business facility job tax credit","order_by":null,"url":"\/58.1-439\/"},{"id":66012,"section_number":"58.1-439.12:06","catch_line":"International trade facility tax credit","order_by":null,"url":"\/58.1-439.12_06\/"},{"id":65940,"section_number":"62.1-132.3:2.1","catch_line":"Port of Virginia Economic Development Grant Program and Fund","order_by":null,"url":"\/62.1-132.3_2.1\/"},{"id":61424,"section_number":"62.1-132.3:2.3","catch_line":"International Trade Facility Grant Program","order_by":null,"url":"\/62.1-132.3_2.3\/"}],"permalink":{"id":268341,"object_type":"law","relational_id":66782,"identifier":"62.1-132.3:2.2","token":"62.1\/10\/62.1-132.3_2.2","url":"\/62.1-132.3_2.2\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/62.1-132.3_2.2\/","token":"62.1\/10\/62.1-132.3_2.2","dublin_core":{"Title":"Economic and Infrastructure Development Grant Program","Type":"Text","Format":"text\/html","Identifier":"\u00a7 62.1-132.3:2.2","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> As used in this section, unless the context requires a different meaning:\n\t\t\t“Fund<\/span>” means the Port of Virginia Economic Development Grant Fund<\/span> established by § 62.1-132.3:2.1<\/a>.\n\t\t\t“New, permanent full-time position<\/span>” means a job of an indefinite duration, created by a qualified company<\/span> as a result of operations within the Commonwealth, requiring a minimum of 35 hours of an employee’s time per week for the entire normal year of the company’s operations, which normal year shall consist of at least 48 weeks, or a position of indefinite duration that requires a minimum of 35 hours of an employee’s time per week for the portion of the taxable year in which the employee was initially hired for the qualified company<\/span>’s location within the Commonwealth. “New, permanent full-time position<\/span>” includes security positions as required within a foreign trade zone, established pursuant to the Foreign Trade Zones Act of 1934, as amended (19 U.S.C. §§ 81a through 81u). “New, permanent full-time position<\/span>” does not include seasonal or temporary positions, jobs created when a position is shifted from an existing location in the Commonwealth to the qualified company<\/span>’s new or expanded location, or positions in building and grounds maintenance or other positions that are ancillary to the principal activities performed by the employees at the qualified company<\/span>’s location within the Commonwealth.\n\t\t\t“Qualified company<\/span>” means a corporation, limited liability company, partnership, joint venture, or other business entity that (i) locates or expands a facility within the Commonwealth; (ii) creates at least 25 new, permanent full-time positions<\/span> for qualified full-time employees<\/span> at a facility within the Commonwealth during its first year of operation or during the year when the expansion occurs; (iii) is involved in maritime commerce or exports or imports manufactured goods through the Port of Virginia; (iv) is engaged in the distribution, freight forwarding, freight handling, goods processing, manufacturing, warehousing, crossdocking, transloading, or wholesaling of goods exported and imported through the Port of Virginia; ship building and ship repair; dredging; marine construction; or offshore energy exploration or extraction; and (v) pays a minimum entry-level wage rate per hour of at least 1.2 times the federal minimum wage or the Virginia minimum wage, as required by the Virginia Minimum Wage Act (§ 40.1-28.8<\/a> et seq.), whichever is higher. In areas that have an unemployment rate of one and one-half times the statewide average unemployment rate, the wage rate minimum may be waived by the Authority. Only full-time positions that qualify for benefits shall be eligible for assistance.\n\t\t\t“Qualified full-time employee<\/span>” means an employee filling a new, permanent full-time position<\/span> in the qualified company<\/span>’s location within the Commonwealth. “Qualified full-time employee<\/span>” does not include an employee (i) for whom a tax credit was previously earned pursuant to § 58.1-439<\/a> or 58.1-439.12:06<\/a> by a related party<\/span> as listed in § 267(b) of the Internal Revenue Code or by a trade or business under common control as defined in regulations issued pursuant to § 52(b) of the Internal Revenue Code; (ii) who was previously employed in the same job function at an existing location in the Commonwealth by a related party<\/span> as listed in § 267(b) of the Internal Revenue Code; or (iii) whose job function was previously performed at a different location in the Commonwealth by an employee of a related party<\/span> as listed in § 267(b) of the Internal Revenue Code or a trade or business under common control as defined in regulations issued pursuant to § 52(b) of the Internal Revenue Code. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The Port of Virginia shall develop as a component of the Port of Virginia Economic Development Program the Economic and Infrastructure Development Grant Program. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Beginning January 1, 2025, and subject to appropriation, any qualified company<\/span> that locates or expands a facility within the Commonwealth shall be eligible to apply for a one-time grant from the Fund<\/span>, in an amount determined as follows: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> If the qualified company<\/span> creates at least 25 new, permanent full-time positions<\/span> for qualified full-time employees<\/span> during its first year of operation or during the year in which the expansion occurs, $1,000 per new, permanent full-time position<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> If the qualified company<\/span> creates at least 50 new, permanent full-time positions<\/span> for qualified full-time employees<\/span> during its first year of operation or during the year in which the expansion occurs, $1,500 per new, permanent full-time position<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> If the qualified company<\/span> creates at least 75 new, permanent full-time positions<\/span> for qualified full-time employees<\/span> during its first year of operation or during the year in which the expansion occurs, $2,000 per new, permanent full-time position<\/span>; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> If the qualified company<\/span> creates at least 100 new, permanent full-time positions<\/span> for qualified full-time employees<\/span> during its first year of operation or during the year in which the expansion occurs, $3,000 per new, permanent full-time position<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> To qualify for a grant pursuant to this section, a qualified company<\/span> must apply for the grant not later than March 31 in the year immediately following the location or expansion of a facility within the Commonwealth pursuant to an application process developed by the Virginia Port Authority. Within 90 days after the filing deadline, the Executive Director shall certify to the Comptroller and the qualified company<\/span> the amount of grant to which the qualified company<\/span> is entitled under this section. Payment of each grant shall be made by check issued by the State Treasurer on warrant of the Comptroller within 60 days of such certification and in the order<\/span> that each completed eligible application is received. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

F.<\/span> A qualified company<\/span> that has received a grant in accordance with the requirements provided in this section shall be eligible for a second grant from the Fund<\/span> if it (i) locates or expands an additional facility in a separate location, as determined by the Virginia Port Authority, within the Commonwealth; (ii) creates at least 300 new, permanent full-time positions<\/span> at the additional facility over and above those agreed upon in the qualified company<\/span>’s original memorandum<\/span> of understanding with the Virginia Port Authority; and (iii) increases cargo volumes through the Port of Virginia by at least five percent, not including any volume increase resulting from the original grant, from the additional facility. If the qualified company<\/span> satisfies the requirements provided in this subsection and receives a grant consistent with the requirements of this section, then the qualified company<\/span> shall enter into another separate memorandum<\/span> of understanding with the Virginia Port Authority as provided in subsection G. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

G.<\/span> Prior to receipt of a grant, the qualified company<\/span> shall enter into a memorandum<\/span> of understanding with the Virginia Port Authority establishing the requirements for maintaining the number of new, permanent full-time positions<\/span> for qualified employees at the qualified company<\/span>’s location within the Commonwealth. If the number of new, permanent full-time positions<\/span> for any of the three years immediately following receipt of a grant falls below the number of new, permanent full-time positions<\/span> created during the year for which the grant is claimed, the amount of the grant shall be recalculated using the decreased number of new, permanent full-time positions<\/span>, and the qualified company<\/span> shall repay the difference. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

H.<\/span> No qualified company<\/span> shall apply for a grant, nor shall one be awarded under this section to an otherwise qualified company<\/span>, if (i) a credit pursuant to § 58.1-439<\/a> or 58.1-439.12:06<\/a> or a grant pursuant to § 62.1-132.3:2.3<\/a> is claimed for the same employees or for capital expenditures at the same facility by the qualified company<\/span>, by a related party<\/span> as listed in § 267(b) of the Internal Revenue Code, or by a trade or business under common control as defined in regulations issued pursuant to § 52(b) of the Internal Revenue Code or (ii) the qualified company<\/span> was a party<\/span> to a reorganization as defined in § 368(b) of the Internal Revenue Code, and any corporation involved in the reorganization as defined in § 368(a) of the Internal Revenue Code previously received a grant under this section for the same facility or operations. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

I.<\/span> The Virginia Port Authority, with the assistance of the Virginia Economic Development Partnership, shall develop guidelines establishing procedures and requirements for qualifying for the grant, including the affirmative determination that each applicant is a qualified company<\/span>, as defined above, engaged in a port-related business. The guidelines shall be exempt from the Administrative Process Act (§ 2.2-4000<\/a> et seq.). For the purposes of administering this grant program, the Virginia Port Authority and the Department of Taxation shall exchange information regarding whether a qualified company<\/span>, a related party<\/span> as listed in § 267(b) of the Internal Revenue Code, or a trade or business under common control as defined in regulations issued pursuant to § 52(b) of the Internal Revenue Code has claimed a credit pursuant to § 58.1-439<\/a> or 58.1-439.12:06<\/a> or a grant pursuant to § 62.1-132.3:2.3<\/a> for the same employees or for capital expenditures at the same facility. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nECONOMIC AND INFRASTRUCTURE DEVELOPMENT GRANT PROGRAM (\u00a7 62.1-132.3:2.2)\n\nA. As used in this section, unless the context requires a different meaning:\n\t\t\t“Fund” means the Port of Virginia Economic Development Grant Fund\nestablished by § 62.1-132.3:2.1.\n\t\t\t“New, permanent full-time position” means a job of an indefinite\nduration, created by a qualified company as a result of operations within the\nCommonwealth, requiring a minimum of 35 hours of an employee’s time per\nweek for the entire normal year of the company’s operations, which normal\nyear shall consist of at least 48 weeks, or a position of indefinite duration\nthat requires a minimum of 35 hours of an employee’s time per week for the\nportion of the taxable year in which the employee was initially hired for the\nqualified company’s location within the Commonwealth. “New,\npermanent full-time position” includes security positions as required\nwithin a foreign trade zone, established pursuant to the Foreign Trade Zones Act\nof 1934, as amended (19 U.S.C. §§ 81a through 81u). “New,\npermanent full-time position” does not include seasonal or temporary\npositions, jobs created when a position is shifted from an existing location in\nthe Commonwealth to the qualified company’s new or expanded location, or\npositions in building and grounds maintenance or other positions that are\nancillary to the principal activities performed by the employees at the\nqualified company’s location within the Commonwealth.\n\t\t\t“Qualified company” means a corporation, limited liability\ncompany, partnership, joint venture, or other business entity that (i) locates\nor expands a facility within the Commonwealth; (ii) creates at least 25 new,\npermanent full-time positions for qualified full-time employees at a facility\nwithin the Commonwealth during its first year of operation or during the year\nwhen the expansion occurs; (iii) is involved in maritime commerce or exports or\nimports manufactured goods through the Port of Virginia; (iv) is engaged in the\ndistribution, freight forwarding, freight handling, goods processing,\nmanufacturing, warehousing, crossdocking, transloading, or wholesaling of goods\nexported and imported through the Port of Virginia; ship building and ship\nrepair; dredging; marine construction; or offshore energy exploration or\nextraction; and (v) pays a minimum entry-level wage rate per hour of at least\n1.2 times the federal minimum wage or the Virginia minimum wage, as required by\nthe Virginia Minimum Wage Act (§ 40.1-28.8 et seq.), whichever is higher.\nIn areas that have an unemployment rate of one and one-half times the statewide\naverage unemployment rate, the wage rate minimum may be waived by the Authority.\nOnly full-time positions that qualify for benefits shall be eligible for\nassistance.\n\t\t\t“Qualified full-time employee” means an employee filling a new,\npermanent full-time position in the qualified company’s location within\nthe Commonwealth. “Qualified full-time employee” does not include an\nemployee (i) for whom a tax credit was previously earned pursuant to §\n58.1-439 or 58.1-439.12:06 by a related party as listed in § 267(b) of the\nInternal Revenue Code or by a trade or business under common control as defined\nin regulations issued pursuant to § 52(b) of the Internal Revenue Code;\n(ii) who was previously employed in the same job function at an existing\nlocation in the Commonwealth by a related party as listed in § 267(b) of\nthe Internal Revenue Code; or (iii) whose job function was previously performed\nat a different location in the Commonwealth by an employee of a related party as\nlisted in § 267(b) of the Internal Revenue Code or a trade or business\nunder common control as defined in regulations issued pursuant to § 52(b)\nof the Internal Revenue Code.\n\nB. The Port of Virginia shall develop as a component of the Port of Virginia\nEconomic Development Program the Economic and Infrastructure Development Grant\nProgram.\n\nC. Beginning January 1, 2025, and subject to appropriation, any qualified\ncompany that locates or expands a facility within the Commonwealth shall be\neligible to apply for a one-time grant from the Fund, in an amount determined as\nfollows:\n\n 1. If the qualified company creates at least 25 new, permanent full-time\n positions for qualified full-time employees during its first year of operation\n or during the year in which the expansion occurs, $1,000 per new, permanent\n full-time position;\n\n 2. If the qualified company creates at least 50 new, permanent full-time\n positions for qualified full-time employees during its first year of operation\n or during the year in which the expansion occurs, $1,500 per new, permanent\n full-time position;\n\n 3. If the qualified company creates at least 75 new, permanent full-time\n positions for qualified full-time employees during its first year of operation\n or during the year in which the expansion occurs, $2,000 per new, permanent\n full-time position; and\n\n 4. If the qualified company creates at least 100 new, permanent full-time\n positions for qualified full-time employees during its first year of operation\n or during the year in which the expansion occurs, $3,000 per new, permanent\n full-time position.\n\nE. To qualify for a grant pursuant to this section, a qualified company must\napply for the grant not later than March 31 in the year immediately following\nthe location or expansion of a facility within the Commonwealth pursuant to an\napplication process developed by the Virginia Port Authority. Within 90 days\nafter the filing deadline, the Executive Director shall certify to the\nComptroller and the qualified company the amount of grant to which the qualified\ncompany is entitled under this section. Payment of each grant shall be made by\ncheck issued by the State Treasurer on warrant of the Comptroller within 60 days\nof such certification and in the order that each completed eligible application\nis received.\n\nF. A qualified company that has received a grant in accordance with the\nrequirements provided in this section shall be eligible for a second grant from\nthe Fund if it (i) locates or expands an additional facility in a separate\nlocation, as determined by the Virginia Port Authority, within the Commonwealth;\n(ii) creates at least 300 new, permanent full-time positions at the additional\nfacility over and above those agreed upon in the qualified company’s\noriginal memorandum of understanding with the Virginia Port Authority; and (iii)\nincreases cargo volumes through the Port of Virginia by at least five percent,\nnot including any volume increase resulting from the original grant, from the\nadditional facility. If the qualified company satisfies the requirements\nprovided in this subsection and receives a grant consistent with the\nrequirements of this section, then the qualified company shall enter into\nanother separate memorandum of understanding with the Virginia Port Authority as\nprovided in subsection G.\n\nG. Prior to receipt of a grant, the qualified company shall enter into a\nmemorandum of understanding with the Virginia Port Authority establishing the\nrequirements for maintaining the number of new, permanent full-time positions\nfor qualified employees at the qualified company’s location within the\nCommonwealth. If the number of new, permanent full-time positions for any of the\nthree years immediately following receipt of a grant falls below the number of\nnew, permanent full-time positions created during the year for which the grant\nis claimed, the amount of the grant shall be recalculated using the decreased\nnumber of new, permanent full-time positions, and the qualified company shall\nrepay the difference.\n\nH. No qualified company shall apply for a grant, nor shall one be awarded under\nthis section to an otherwise qualified company, if (i) a credit pursuant to\n§ 58.1-439 or 58.1-439.12:06 or a grant pursuant to § 62.1-132.3:2.3\nis claimed for the same employees or for capital expenditures at the same\nfacility by the qualified company, by a related party as listed in § 267(b)\nof the Internal Revenue Code, or by a trade or business under common control as\ndefined in regulations issued pursuant to § 52(b) of the Internal Revenue\nCode or (ii) the qualified company was a party to a reorganization as defined in\n§ 368(b) of the Internal Revenue Code, and any corporation involved in the\nreorganization as defined in § 368(a) of the Internal Revenue Code\npreviously received a grant under this section for the same facility or\noperations.\n\nI. The Virginia Port Authority, with the assistance of the Virginia Economic\nDevelopment Partnership, shall develop guidelines establishing procedures and\nrequirements for qualifying for the grant, including the affirmative\ndetermination that each applicant is a qualified company, as defined above,\nengaged in a port-related business. The guidelines shall be exempt from the\nAdministrative Process Act (§ 2.2-4000 et seq.). For the purposes of\nadministering this grant program, the Virginia Port Authority and the Department\nof Taxation shall exchange information regarding whether a qualified company, a\nrelated party as listed in § 267(b) of the Internal Revenue Code, or a\ntrade or business under common control as defined in regulations issued pursuant\nto § 52(b) of the Internal Revenue Code has claimed a credit pursuant to\n§ 58.1-439 or 58.1-439.12:06 or a grant pursuant to § 62.1-132.3:2.3\nfor the same employees or for capital expenditures at the same facility.\n\nHISTORY: 2023, cc. 238, 239.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}