Virginia Port Volume Increase Grant Program

Discretionary Incentives Virginia Port Volume Increase Grant Program The Virginia Port Volume Increase Grant Program (PVI Grant) provides grant funding to eligible entities that increase cargo volume by a minimum of five percent (5%) year over year, while utilizing port facilities in the Commonwealth of Virginia. Defined in the PVI program policy, an eligible entity means an mineral and gas entity. Highlights Companies increasing Virginia port usage by 5% in a single calendar year are eligible for a grant award from the Port Volume Increase Grant Program. $50 per 20-foot equivalent unit (TEU) Grant award is based on TEUs in excess of base year cargo Program funds are subject to a distinct appropriation cap each year Mandatory Pre-Application for the grant will be available here on September 1st, and all Pre-Applications are due by November 1st. Eligibility To be eligible for the Port Volume Increase Grant Program, a company must: Be an agricultural entity, manufacturing-related entity, or mineral and gas entity. Use port facilities in Virginia. Increase its port cargo volume at these facilities by a minimum of 5% in a single calendar year over its base-year port cargo volume. Own the cargo at the time that port facilities are used. For purposes of this grant program, an “agricultural entity” is defined as a person engaged in growing or producing crops; floral products; forestry products, excluding raw wood fiber or wood fiber processed or manufactured for use as a fuel for the generation of electricity; or poultry products. A “manufacturing-related entity” is defined as a person engaged in the manufacturing of goods or the distribution of manufactured goods. A “mineral and gas entity” is defined as a person engaged in severing minerals or gases from the earth. An eligible entity may only apply to the Port Volume Increase Grant Award for cargo actually owned by the eligible entity at the time the port facilities were used (including upon shipment or on delivery) and for which the eligible entity controlled the method of transportation. Ownership is determined by the terms of the shipping contract and is evidenced by the bill of lading. When cargo originates in Virginia, there is a presumption that the company exporting the cargo out of Virginia controls the method of transportation. When a shipment terminates in Virginia, there is a presumption that the company receiving the import in Virginia controls the method of transportation. Port cargo volume is defined as the total amount of net tons of non-containerized cargo or containers measured in TEUs of cargo transported by way of a waterborne ship or vehicle through a port facility. Base-year port cargo volume means the total amount of net tons of non-containerized cargo, TEUs of cargo, or units of roll-off cargo actually transported by way of a waterborne ship or vehicle through a port facility during the period from January 1 through December 31. Base-year port cargo volume must be recalculated each calendar year after the initial base year. To be eligible for this grant award, the eligible entity's base-year port cargo volume must be a minimum of either 75 net (short) tons of non-containerized cargo, 10 loaded TEUs, or 10 units of roll-on/roll-off cargo. Each eligible entity must meet one of these thresholds.

The Virginia Port Volume Increase Grant Program (PVI Grant) provides grant funding to eligible entities that increase cargo volume by a minimum of five percent (5%) year over year, while utilizing port facilities in the Commonwealth of Virginia. Defined in the PVI program policy, an eligible entity means an mineral and gas entity. Highlights