Quarterly Report on the Performance Grants for Major Manufacturers - Second Quarter Ending June 30, 2024

Summary

A letter dated July 23, 2024 from Caren Merrick, Secretary of Commerce and Trade in the Office of the Governor of the Commonwealth of Virginia, to the chairs of the Senate Finance and Appropriations Committee, the House Appropriations Committee and the House Finance Committee. Made under § 2.2-5103(D) of the Code of Virginia, it reports on Virginia Investment Performance (VIP) and Major Eligible Employer (MEE) grants for the second quarter ending June 30, 2024. The letter states that no VIP grants and no MEE grants were awarded in that quarter, and that VIP disbursements were made to Hollister, Abbott, Dominion Packaging, Canon and WhiteWave Foods. It explains that no VIP grants were awarded because the existing legislative cap has been met, and that Chapters 563 and 624 of the 2024 Acts of Assembly reauthorized the grant, with additional grants possible after July 1, 2024.

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

Full text

COMMONWEALTH of VIRGINIA
Office of the Governor

Caren DeWitt Merrick

Secretary of Commerce and Trade

July 23, 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 second quarter of the 2024 calendar year
as required by § 2.2-5103(D) of the Code of Virginia.

In the second quarter, ending June 30, 2024, no VIP grants were awarded. Additionally,
no MEE grants were awarded in the second quarter of 2024.

Virginia Investment Performance:

No VIP grants were awarded.

Major Eligible Employer:

No MEE grants were awarded,

For the second quarter of the 2024 calendar year, disbursements from the VIP were made
to Hollister, Abbott, Dominion Packaging, Canon, and WhiteWave Foods.

No VIP grants were awarded during this quarter 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.

Patrick Henry Building * 1111 East Broad Streer * Richmond, Virginia 23219 © (804) 786-7831 © TTY: (800) 828-1120
Money Committee Chair
July 23, 2024
Page Two

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-RD420.pdf

Size

46,013 bytes

SHA-256

61ce9b2db6f7a8a75fc7a57e2e3cf676d53db02a2c1ca79880df66a6f1af5535

Our copy

2024-RD420.pdf

Original

No public link identified.