Virginia Jobs Investment Program (VJIP)

The Virginia Jobs Investment Program (VJIP) is a discretionary incentive that provides funding and services to qualifying companies to support new job creation or upskilling in conjunction with new or expanding operations. The cash grant and accompanying services are intended to offset a company’s recruitment and training costs. The funding for each net new, full-time job created or full-time employee retrained is based on a customized budget determined by an assessment of the company’s recruiting and training activities, as well as the project’s expected benefit to the Commonwealth. The final budget and proposal are approved in advance of the project by the Secretary of Commerce and Trade. VJIP support is typically for a 36-month period. Companies can be reimbursed 90 days after the new employee is hired (for new jobs programs) or after the retraining activity is complete (for retraining programs). In addition to direct funding, services provided include holistic talent development support provided by an assigned manager in response to the unique needs of each project. Services include connection to partnerships with local workforce and education providers. Partners include: •    Virginia Community College System •    4-Year Colleges and Universities •    Virginia Works •    Virginia Career Works •    Career & Technical Education Providers •    Local and Regional Economic Developers Contact Tim Stuller 804.545.5733 tstuller vedp.org Eligibility To determine eligibility, please contact VEDP. VJIP support is limited to companies that create basic employment for the Commonwealth, meaning the business must derive at least 51% of its revenue directly or indirectly from outside of Virginia, as determined by VEDP. The project’s average wage compared to the prevailing average wage of the locality, among other criteria, is considered when determining the VJIP grant amount. Only full-time jobs which pay a minimum entry-level wage rate per hour of at least 120% of the Federal Minimum Wage or the Virginia Minimum Wage as defined in the Virginia Minimum Wage Act § 40.1-28.8, whichever is higher, and are offered benefits are eligible for funding. See table in FAQ section for eligible wage thresholds. While competition with another state or country is only a criterion for companies with more than 250 employees company-wide, the VJIP incentive is intended to induce decision making. Therefore, a VJIP incentive will not be approved for a project that has already been announced publicly. At the discretion of VEDP, jobs may include teleworking positions held by Virginia residents who are employees of the recipient company. New Jobs Programs VJIP New Jobs Programs are a vital component of Virginia’s support of new and existing businesses, both small and large. VJIP New Jobs Programs can support the following industry sectors: Corporate HQs Distribution Centers Information Technology Manufacturing Research and Development Shared Service Centers Virginia New Jobs Program This program supports newly locating or existing Virginia companies that have more than 250 employees company wide. To qualify for assistance, a company must be: Considering another state or country for the new location or expansion. Creating at least 25 net new full-time jobs within 12 months from the date of the first hire. Making a new capital investment of at least $1 million associated with the location or expansion. Small Business New Jobs Program This program supports expanding or newly locating Virginia companies that have 250 employees or fewer company-wide. To qualify for assistance, a company must be: Creating at least five net new full-time jobs within 12 months from the date of the first hire. Making a new capital investment of at least $100,000 associated with the location or expansion. Workforce Retraining Programs