Quarterly Report on VIP and MEE Grants, Third Quarter 2024 — Caren Merrick (November 1, 2024)

Summary

This is a letter dated November 1, 2024 from Caren DeWitt Merrick, Office of the Governor, to The Honorable L Louise Lucas, The Honorable Luke E. Torian and The Honorable Vivian E. Watts, reporting on the Virginia Investment Performance (VIP) and Major Eligible Employer (MEE) grants awarded during the third quarter of the 2024 calendar year. It states that two VIP grants were awarded in the quarter ending September 30, 2024, and no MEE grants. Canon Virginia, Inc., located in the City of Newport News, was awarded a $350,000 grant. Kongsberg Defense & Aerospace, located in James City County, was awarded a $750,000 grant and is described as creating 187 new jobs by September 30, 2027. Disbursements from the VIP were made to Kingspan, MillerCoors, James Hardie, Fareva, and Merck.

Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used

Cite this document

“Quarterly Report on VIP and MEE Grants, Third Quarter 2024 — Caren Merrick (November 1, 2024).” Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2024-rd803-f98f92fcf9/, SHA-256 073591eac546d3218e19ad29909b2710817e56fa5c4d54b36bfa57203474a7e7.

Full text

COMMONWEALTH of VIRGINIA
Office of the Governor
Caren DeWitt Merrick
Secrcrnry of C.,mmcr<C: .in,l Trai.k

November 1, 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
871 7 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 third quarter of the 2024 calendar year as
required by § 2.2-5103(0) of the Code of Virginia.

In the third quarter, ending September 30, 2024, two VIP grants were awarded. No MEE
grants were awarded in the third quarter of 2024.

Virginia Investment Performance:

I. Canon Virginia, Inc., located in the City of Newport News, is a manufacturer of
consumer and office products. Awarded a $350,000 grant, the company will be making a
$37.l million investment by September 30, 2027. This project has been announced.

2. Kongsberg Defense & Aerospace, located in James City County, is a global provider of
defense and aerospace systems. Awarded a $750,000 grant, the company will be making
a $70. 9 million investment and creating 187 new jobs by September 30, 2027. This
project has been announced.

Major Eligible Employer:

No MEE grants were awarded.
Patrick Henry Build mg • 1111 East Broad Street • Richmond, V1rgm1a 23219 • (804) 786-7831 • TTY: (800) 828-1120
Money Committee Chair
November 1, 2024
Page Two

For the third quarter of the 2024 calendar year, disbursements from the VIP were made to
Kingspan, MillerCoors, James Hardie, Fareva, and Merck. No MEE grant disbursements from
the Fund were made.

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

File and source

File: 2024-RD803.pdf
Size: 149,625 bytes
SHA-256: 073591eac546d3218e19ad29909b2710817e56fa5c4d54b36bfa57203474a7e7
Our copy: 2024-RD803.pdf
Original: No public link identified.