Virginia Investment Performance (VIP) and Major Eligible Employer (MEE) Grants, First Quarter of 2024

Summary

Letter dated April 15, 2024 from Caren Merrick, Secretary of Commerce, to L. Louise Lucas, Luke E. Torian and Vivian E. Watts reporting on the Virginia Investment Performance (VIP) and Major Eligible Employer (MEE) grants for the first quarter of the 2024 calendar year. It states that no VIP grants were awarded and no MEE grants were awarded in the quarter ending March 31, 2024. It says disbursements from the VIP were made to San J, Printpack, Seppic, Ashland, and McKee. It explains that no VIP grants may be awarded at this time because the existing legislative cap has been met, but that Chapters 563 and 624 reauthorized the grant and additional grants may be offered after July 1, 2024.

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Full text

                                   COMMONWEALTH of VIRGINIA
                                                  Office of the Governor
Caren DeWitt Merrick
Secretary of Commerce ,md Trad("


                                                           April 15, 2024



            The Honorable L. Louise Lucas                               The Honorable Luke E. Torian
            Chair                                                       Chair
            Senate Finance and Appropriations                           House Appropriations Committee
              Committee                                                 4222 Fortuna Plaza, Suite 659
            P.O. Box 700                                                Dumfries, Virginia 22025
            Portsmouth, Virginia 23705

            The Honorable Vivian E. Watts
            Chair
            House Finance Committee
            8717 Mary Lee Lane
            Annandale, Virginia 22003

            Senator and Delegates:

                   I am writing to report on the Virginia Investment Performance (VIP) and Major Eligible
            Employer (MEE) grants that were awarded during the first quarter of the 2024 calendar year as
            required by § 2.2-5103(0) of the Code of Virginia.

                 In the first quarter, ending March 31, 2024, no VIP grants were awarded. Additionally,
            no MEE grants were awarded in the first quarter of 2024.

            Virginia Investment Performance:

                      No VIP grants were awarded.

            Major Eligible Employer:

                      No MEE grants were awarded.




            Pamck Henry Building • 1111 East Broad Street • Richmond, Virgm1a 23219 • (804) 786-7831 • lTY: (800) 828-1120
Money Committee Chair
April 15, 2024
Page Two


        For the first quarter of the 2024 calendar year, disbursements from the VIP were made to
San J, Printpack, Seppic, Ashland, and McKee.

       No VIP grants may be awarded at this time because the existing legislative cap has been
met. However, Chapters 563 and 624 of the 2024 Acts of Assembly reauthorized the grant, and
additional grants may be offered after July 1, 2024.

       Please let me know if you have any questions regarding this quarterly report of VIP and
MEE.

                                            Sincerely,



                                            Caren Merrick

CM:kme

cc     Mr. Jason El Koubi
       President and Chief Executive Officer
       Virginia Economic Development Partnership


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