Virginia: Transactions of the Commonwealth's Opportunity Fund, First Half of the 2020 Fiscal Year

Summary

A February 21, 2020 letter from the Office of the Governor, Ralph S. Northam, to the chairs of the Senate Finance and Appropriations Committee, the House Appropriations Committee and the House Finance Committee, Janet D. Howell, Luke E. Torian and Vivian E. Watts. It provides documentation of the transactions of the Commonwealth's Opportunity Fund (COF) during the first half of the 2020 fiscal year, ended December 31, 2019. The letter states that a total of $7,935,000 was committed from the COF to assist ten projects, and that actual disbursements totaled $1,377,000. Project summaries follow, including PPD in Henrico County, Howell Metal in Shenandoah County and Traditional Medicinals in Franklin County.

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COMMONWEALTH of VIRGINIA
Office of the Governor
Ralph S. Northam
Governor February 21, 2020

Honorable Janet D. Howell, Chair Honorable Luke E. Torian, Chair
Senate Finance and Appropriations Committee House Appropriations Committee
900 East Main Street 900 East Main Street
Pocahontas Building, Room E509 Pocahontas Building, Room W 1304
Riclunond, Virginia 23219 Riclunond, Virginia 23219

Honorable Vivian E. Watts, Chair
House Finance Committee
900 East Main Street
Pocahontas Building, Room E203
Riclunond, Virginia 23219

Dear Senator and Delegates:

I am writing to provide documentation of the transactions of the Commonwealth's
Opportunity Fund (COF) that have occurred during the first half of the 2020 fiscal year, as required
by§ 2.2-115(0) of the Code of Virginia.

For the first half of the 2020 fiscal year, ended December 31, 2019, a total of $7,935,000
was committed from the COF to assist ten projects relocating to or expanding in the state.

For the first half of the 2020 fiscal year, actual disbursements from the COF were made to
the City of Danville for Essel Propack, Prince Edward County for YakAttack, the City of Danville
for PRA, the City of Danville for Harlow, and Henry County for Teal-Jones. Actual disbursements
totaled $1,377,000.

Sincerely,

Ralph S. Northam
cc: Honorable R. Brian Ball
Secretary of Commerce and Trade
Mr. Stephen Moret
President and CEO, Virginia Economic Development Partnership
Patrick Henry Building • 1111 East Broad Street • Richmond, Virginia 23219
(804) 786-221 l • TTY (800) 828-1120
www.govemor.virginia.gov
Committee Chair
February 21, 2020
Page 2

PROJECT SUMMARIES

1. Henrico County: PPD will expand its existing pharmaceutical research and development
and testing facility in Henrico County. This project will create 200 new jobs and an
investment of $63. 7 million (amount of grant: $675,000; use of grant: building
improvements; other grants awarded: Virginia Investment Performance grant of $450,000;
local match: $675,000; anticipated completion date: March 2023; average wage of new
jobs: $62,700; prevailing average wage: $53,636). This project has been announced.

2. Shenandoah County: Howell Metal, a manufacturer of copper and metal alloy tubing and
fittings, will expand its existing facility in Shenandoah County. This project will create 102
new jobs and an investment of $8.0 million (amount of grant: $400,000; use of grant:
building construction; other grants awarded: Port Economic and Infrastructure Development
grant of $48,000; local match: $400,000; anticipated completion date: July 2024; average
wage of new jobs: $37,175; prevailing average wage: $37,081). This project has been
announced.

3. City of Danville: PRA Group will locate a debt collection call center in the City of
Danville. This location will create 300 new jobs and an investment of $10.9 million
(amount of grant: $780,000; use of grant: building improvements; other grants awarded:
Virginia Jobs Investment Program grant of $120,000, Enterprise Zone Job Creation grant of
$1,164,100, Enterprise Zone Real Property Investment grant of $100,000; local match:
$780,000; anticipated completion date: December 2022; average wage of new jobs:
$39,241; prevailing average wage: $37,397). This project has been announced. Originally
announced in December 2018 with a $1.5 million COF, the grant was subsequently reduced
to $780,000 due to a reduction in PRA's employment and investment totals.

4. Henry County: Teal-Jones will locate a new sawmill facility in Henry County. The
company will create 67 new jobs and invest $21 million (amount of grant: $200,000; use of
grant: building improvements; other grants awarded: Virginia Jobs Investment Program
grant of $53,600, Port Economic and Infrastructure Development grant of $48,000,
Agriculture and Forestry Industries Incentive grant of $200,000; local match: $600,000;
anticipated completion date: June 2023; average wage of new jobs: $35,450; prevailing
average wage: $33,438). This project has been announced.
Committee Chair
February 21, 2020
Page 3

5. Westmoreland County: Teal-Jones will locate a new sawmill facility in Westmoreland
County. This project will create 59 new jobs and an investment of $10.8 million (amount of
grant: $125,000; use of grant: building improvements; other grants awarded: Virginia Jobs
Investment Program grant of $47,200, Enterprise Zone Job Creation grant of $171,600,
Enterprise Zone Real Property Investment grant of $25,264, Port Economic and
Infrastructure Development grant of $31,500, Agriculture and Forestry Industries Incentive
grant of $125,000; local match: $125,000; anticipated completion date: June 2022; average
wage of new jobs: $36,273; prevailing average wage: $31,129). This project has been
announced.

6. Chesterfield County: DuPont, a manufacturer of next-generation Kevlar, will expand its
existing facility in Chesterfield County. This location will create 60 new jobs and an
investment of $110.5 million (amount of grant: $250,000; use of grant: building
construction; other grants awarded: Virginia Investment Performance grant of $1,000,000,
Virginia Jobs Investment Program grant of $54,000, Port Economic and Infrastructure
Development grant of $90,000; local match: $840,000; anticipated completion date:
December 2021; average wage of new jobs: $70,905; prevailing average wage: $45,889).
This project has been announced.

7. Arlington County: block.one will locate its headquarters facility in Arlington County. The
company will create 170 new jobs and invest $10 million ( amount of grant: $600,000; use
of grant: building improvements; other grants awarded: none; local match: $600,000;
anticipated completion date: December 2022; average wage of new jobs: $147,882;
prevailing average wage: $92,794). This project has been announced.

8. Chesterfield County: Cartograf will locate a folding and micro corrugated package printing
facility in Chesterfield County. This project will create 63 new jobs and an investment of
$65.3 million (amount of grant: $750,000; use of grant: building construction; other grants
awarded: Virginia Jobs Investment Program grant of $37,800, Port Economic and
Infrastructure Development grant of $39,000; local match: $750,000; anticipated
completion date: December 2022; average wage of new jobs: $47,698; prevailing average
wage: $47,455). This project has been announced.

9. City of Richmond: GlaxoSmithKline (GSK) will expand its consumer healthcare research
and development facility in the City of Richmond. This project will create 183 new jobs and
an investment of $16.7 million (amount of grant: $675,000; use of grant: site and building
improvements; other grants awarded: Enterprise Zone Job Creation grant of$689,600,
Enterprise Zone Real Property Investment grant of $100,000; local match: $675,000;
anticipated completion date: December 2022; average wage of new jobs: $92,619;
prevailing average wage: $61,686). This project has been announced.
Committee Chair
February 21, 2020
Page4

10. Hanover County: Wegmans will locate a distribution facility in Hanover County. This
location will create 700 new jobs and an investment of $175 million (amount of grant:
$2,350,000; use of grant: building construction; other grants awarded: none; local match:
$3,850,000; anticipated completion date: December 2026; average wage of new jobs:
$55,012; prevailing average wage: $43,004). This project has been announced.

11. City of Franklin: GMAX, a manufacturer, assembler, and distributor of surgical kits, will
locate a new facility in the City of Franklin. The company will create 40 new jobs and
invest $10.5 million ( amount of grant: $70,000; use of grant: parking lot improvements;
other grants awarded: Virginia Jobs Investment Program grant of $30,000, Enterprise Zone
Job Creation grant of $67,100, Enterprise Zone Real Property Investment grant of $60,000;
local match: $72,800; anticipated completion date: June 2024; average wage of new jobs:
$32,358; prevailing average wage: $30,521). This project has been announced.

12. Chesterfield County: Carvana will locate an automotive inspection, recondition, and
distribution facility in Chesterfield County. This project will create 120 new jobs and an
investment of $25 million (amount of grant: $360,000; use of grant: site development and
building construction; other grants awarded: none; local match: $360,000; anticipated
completion date: June 2023; average wage of new jobs: $47,903; prevailing average wage:
$47,455). This project has been announced.

13. Pittsylvania County: Aerofarms will locate a vertical grow house operation for leafy greens
in Pittsylvania County. This location will create 92 new jobs and an investment of $41.8
million (amount of grant: $200,000; use of grant: building construction and utility
infrastructure; other grants awarded: Virginia Jobs Investment Program grant of $64,400,
Enterprise Zone Job Creation grant of $352,000, Enterprise Zone Real Property Investment
grant of $200,000, Agriculture and Forestry Industries Incentive grant of $200,000; local
match: $300,000; anticipated completion date: December 2025; average wage of new jobs:
$34,945; prevailing average wage: $35,932). This project has been announced.

14. Franklin County: Traditional Medicinals, a manufacturer of herbal teas, will locate a new
facility in Franklin County. The company will create 56 new jobs and invest $29.7 million
(amount of grant: $350,000; use of grant: building construction and workforce training;
other grants awarded: Port Economic and Infrastructure Development grant of $35,000;
local match: $3,000,000; anticipated completion date: June 2024; average wage of new
jobs: $47,682; prevailing average wage: $34,145). This project has been announced.

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