§ 59.1-284.15:1. Grants for additional employment and new capital investment
A. As used in this section:
"Eligible county" means the same as that term is defined in § 59.1-284.15.
"New capital investment" means capital investment made on or after July 1, 2000, that denotes investment in buildings and equipment by a qualified manufacturer. Such new capital investment shall not include any capital investment made before July 1, 2000, and shall not include any investment in buildings and equipment that makes or has made such manufacturer a qualified manufacturer as defined under § 59.1-284.15.
"New full-time job" means employment of an indefinite duration in an eligible county, created as the direct result of new capital investment, for which the standard fringe benefits are paid by the qualified manufacturer, requiring a minimum of either (i) 35 hours of an employee's time per week for the entire normal year of such manufacturer's operations, which "normal year" must consist of at least 48 weeks or (ii) 1,680 hours per year. Seasonal or temporary positions, and positions created when a job function is shifted from an existing location in the Commonwealth shall not qualify as new full-time jobs under this section. Other positions including contractors, suppliers, and multiplier or spin-off jobs may be considered new full-time jobs, if so designated in the Memorandum of Understanding between such manufacturer and the Commonwealth.
"Qualified manufacturer" means a qualified manufacturer as defined in § 59.1-284.15, its related companies, or contractual partners.
"Secretary" means the Secretary of Commerce and Trade or his designee.
B. Any qualified manufacturer shall be eligible for annual grant payments under this section if the following conditions are met:
1. If such manufacturer makes a new capital investment of at least $1.1 billion in an eligible county that results in the creation of a new manufacturing module by January 1, 2007, and at least one-half of the new capital investment is made by January 1, 2006, the qualified manufacturer shall be eligible to receive a grant of $15 million, to be paid in two equal payments of $7.5 million, the first such payment to be made after the new capital investment of $550 million is made, but not before July 1, 2006, and the second payment to be made on July 1, 2007.
2. If such manufacturer creates an additional 1,000 new full-time jobs by January 1, 2008, the qualified manufacturer shall be eligible to receive a grant of $35 million, to be paid in four equal annual grant payments of $8.75 million, the first such payment to be made two years after certification by the Secretary that at least 500 new full-time jobs have been created, but not before July 1, 2007. Subsequent payments shall also be subject to certification by the Secretary that new jobs have been created and retained during the course of the payment period. A qualified manufacturer shall be eligible for the full grant amount under this subdivision if the number of persons employed by such manufacturer in an eligible county, by January 1, 2008, is equal to at least the number of persons employed by such manufacturer immediately prior to July 1, 2000, plus an additional 1,000 full-time employees.
3. If such manufacturer creates 200 new full-time jobs by January 1, 2009, the qualified manufacturer shall be eligible to receive an additional grant payment of $5 million, to be paid in two equal annual payments of $2.5 million, the first such payment to be made two years after certification by the Secretary that at least 100 new full-time jobs have been created. The subsequent payment shall also be subject to certification by the Secretary that new jobs have been created and retained during the course of the payment period. A qualified manufacturer shall be eligible for the full grant amount under this subdivision if the number of persons employed by such manufacturer in an eligible county, by January 1, 2009, is equal to at least the number of persons employed by such manufacturer immediately prior to July 1, 2000, plus the additional 1,200 full-time employees.
4. The total amount of grants to all such qualified manufacturers under subdivisions 1 through 3 shall not exceed $55 million. In addition, no grant shall be paid to a qualified manufacturer until the Senate Committee on Finance and the House Committees on Appropriations and Finance review the unsigned written Memorandum of Understanding between such manufacturer and the Commonwealth, with such Memorandum of Understanding specifying the conditions of grant eligibility.
C. Any semiconductor-related products that are produced or manufactured as a result of such new capital investments shall not be eligible for grants as provided under § 59.1-284.15.
D. Any qualified manufacturer entitled to apply for a grant under this section shall provide evidence, satisfactory to the Secretary, of new capital investment and employment levels achieved in an eligible county during a particular calendar year. The application and evidence shall be filed by such manufacturer with the Secretary in person or by mail no later than March 31 (or such later date determined by the Secretary in his sole discretion) each year it is eligible for grants in the calendar year or years following the calendar year in which the conditions of subsection B have been met. Failure to meet the filing deadline shall render the applicant ineligible to receive a grant for such calendar year. For filings by mail, the postmark cancellation shall govern the date of the filing determination.
E. Within 90 days after the filing deadline in subsection D, the Secretary shall certify to (i) the Comptroller and (ii) each applicant the amount of the grant to which such applicant is entitled under this section for the calendar year. Payment of such grant shall be made by check issued by the State Treasurer on warrant of the Comptroller within 60 days of such certification.
F. As a condition of receipt of a grant, a qualified manufacturer shall make available to the Secretary for inspection, upon his request, all relevant and applicable documents to determine whether the qualified manufacturer meets the requirements for the receipt of grants as set forth in this section and subject to a Memorandum of Agreement between a qualified manufacturer and the Commonwealth. All such documents appropriately identified by the qualified manufacturer shall be considered confidential and proprietary. The Comptroller shall not draw any warrants to issue checks for this program without a specific legislative appropriation as specified in conditions and restrictions on expenditures in the appropriation act.
G. The grants that may be paid under this section shall be paid from the Semiconductor Memory or Logic Wafer Manufacturing Performance Grant Fund II established under § 59.1-284.15, subject to appropriations to such fund by the General Assembly.
(2001, c. 863; 2005, c. 392.)
Sections: Previous 59.1-284.13 59.1-284.14 59.1-284.14:1 59.1-284.15 59.1-284.15:1Last modified: April 16, 2009