The 2013 Executive Budget Document
Economic Development Incentive Payments
Mission Statement
This agency serves as a holding account for state incentive programs to localities, companies opening or expanding a business facility within the Commonwealth, and production companies and producers who film their product in the Commonwealth. These incentives include performance-based finanical assistance, infrastructure development grants, and customized training and support programs. These programs are administered by the Virginia Economic Development Partnership and the Virginia Tourism Authority. This agency is also a holding account for funding administered by the Center for Innovative Technology to advance science and technology based research, development, and commercialization.
Operating Budget Summary
General Fund | Nongeneral Fund | Personnel Cost | |
---|---|---|---|
2009 Appropriation | $ 0 | $ 0 | $ 0 |
2010 Appropriation | $ 0 | $ 0 | $ 0 |
2011 Appropriation | $ 49,995,436 | $ 475,000 | $ 0 |
2012 Appropriation | $ 46,095,384 | $ 375,000 | $ 0 |
2013 Addenda | $ 55,001,745 | $ 535,000 | $ 0 |
2013 Addenda | $ (550,000) | $ 0 | $ 0 |
2013 Total | $ 54,451,745 | $ 535,000 | $ 0 |
2014 Addenda | $ 57,908,955 | $ 375,000 | $ 0 |
2014 Addenda | $ (1,450,000) | $ 0 | $ 0 |
2014 Total | $ 56,458,955 | $ 375,000 | $ 0 |
General Fund | Nongeneral Fund | Total Positions | |
---|---|---|---|
2009 Appropriation | 0.00 | 0.00 | 0.00 |
2010 Appropriation | 0.00 | 0.00 | 0.00 |
2011 Appropriation | 0.00 | 0.00 | 0.00 |
2012 Appropriation | 0.00 | 0.00 | 0.00 |
2013 Addenda | 0.00 | 0.00 | 0.00 |
2013 Addenda | 0.00 | 0.00 | 0.00 |
2013 Total | 0.00 | 0.00 | 0.00 |
2014 Addenda | 0.00 | 0.00 | 0.00 |
2014 Addenda | 0.00 | 0.00 | 0.00 |
2014 Total | 0.00 | 0.00 | 0.00 |
Recommended Operating Budget Addenda
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Capture savings associated with a revised schedule of Virginia Investment Partnership grant paymentsAdjusts funding in each year for the Virginia Investment Partnership grants based on the most recent schedule of payments provided by the Virginia Economic Development Partnership. The grant payments are based on negotiated grants awarded to select projects that invest in Virginia and promote stable or growing employment opportunities. In separate budget amendments, the savings will be reallocated toward a defense industry initiative, a web-based employment system, and the Southwest Virginia Cultural Heritage Initiative.
FY 2013 FY 2014 General Fund $ (550,000) $ (1,450,000)