                                 CODE OF VIRGINIA

WORKFORCE RETRAINING PROGRAM (§ 2.2-2240.5)

A. The Authority shall develop as a component of the Virginia Jobs Investment
Program the Workforce Retraining Program to provide consulting services and
funding to assist companies and businesses with retraining their existing
workforces to increase productivity.

B. In addition to the requirements of subsection D of &#xA7; 2.2-2240.3
regarding company eligibility, to be eligible for assistance a company shall
demonstrate that (i) it is undergoing integration of new technology into its
production process, a change of product line in keeping with marketplace
demands, or substantial change to its service delivery process that would
require assimilation of new skills and technological capabilities by the
firm&#8217;s existing labor force and (ii) for each such integration of new
technology, change of product, or substantial change to its service delivery
process, (a) no less than 10 full-time employees are involved and (b) a minimum
capital investment of $500,000 will be made within a 12-month period.
			The Secretary of Commerce and Trade may waive these requirements but shall
promptly provide written notice of any such waiver to the Chairmen of the Senate
Finance and House Appropriations Committees, which notice shall include a
justification for any waiver of these requirements.

HISTORY: 2014, cc. 41, 464.