Virginia Offshore Wind Supplier Development Grant

All projects must meet the following eligibility requirements:

• Project must be affiliated with a basic employer, meaning 51% or more of the facility’s revenue must be generated outside the Commonwealth.
• The project must result in qualifying capital investment in equipment of at least $40K. 
  • “Capital investment” means an investment in real property, tangible personal property, or both at a manufacturing or basic nonmanufacturing facility within the Commonwealth that is capitalized by the company. Expenditures for maintenance, replacement, or repair of existing machinery, tools, and real property shall not constitute a capital investment; however, expenditures for the replacement of property shall not be ineligible for designation as a capital investment if such replacement results in a measurable increase in productivity.
• The company must be a manufacturer.
  • "Manufacturer" means a business firm owning or operating a manufacturing establishment as defined in the Standard Industrial Classification Manual issued by the U.S. Office of Management and Budget or the North American Industry Classification System Manual issued by the United States Census Bureau.
• The company must have a legal presence within the Commonwealth for at least one year prior to applying to the program and be in good standing the SCC. 
• The company must be registered as a vendor in the Virginia Offshore Wind Supply Chain Partnership Directory at the time of application.
• The company must have under 250 full-time employees at the time of application. 
• Although no minimum new job creation is required for VOWSD grant, the investment must not result in any net reduction in employment during the performance period. 
  • "New job" means employment of an indefinite duration, created as the direct result of the private investment, for which the firm pays wages and standard fringe benefits for its employee, requiring a minimum of either (i) 35 hours of the employee's time a week for the entire normal year of the firm's operations, which "normal year" must consist of at least 48 weeks or (ii) 1,680 hours per year. If there are existing jobs at the firm’s facility, it is expected that the performance agreement will state the number of existing jobs and will require that any new jobs be in addition to the existing jobs. 
• Public announcement of grant recipients will be coordinated by VEDP and the Governor’s Office.
• Program will expire on June 30, 2024.  Applications may be submitted until May 20, 2024.

• Company applies to program by submitting a completed application and required documents to VEDP.
• VEDP reviews applications and conducts due diligence.
• The Virginia Offshore Wind Supplier Development Grant Review Committee meets on a quarterly basis to review applications and determine grant awards.
• A grant award notification letter is drafted and sent to the company for signature.
• Company submits reimbursement requests for qualifying equipment purchases made during performance period.

Companies that do not submit a reimbursement request during a fiscal year will be required to submit a report providing information about equipment purchases made that year and the status of the project.

Program will expire on June 30, 2024.  Applications may be submitted until May 20, 2024.

Virginia Offshore Wind Supplier Development Grant Application

What is a new job?

A new job is a job of indefinite duration, created by the company as a result of operations within the Commonwealth. It requires a minimum of 35 hours of a qualified full-time employee’s time per week for the entire normal year of the company’s operations. A normal year consists of at least 48 weeks, or a position of indefinite duration that requires a minimum of 35 hours of a qualified full-time employee’s time per week for the portion of the taxable year in which the qualified full-time employee was initially hired for the company’s facility within Virginia.

What positions do not qualify as new jobs?

Seasonal or temporary positions, or jobs created when a position is shifted from an existing location in the Commonwealth to the company’s new facility, do not count as new, permanent full-time positions.

Building and grounds maintenance at the company’s location within the Commonwealth of Virginia do not count as new jobs.

What is “capital investment”?

“Capital investment” means an investment in real property, tangible personal property, or both at a manufacturing or basic non-manufacturing facility within the Commonwealth that is capitalized by the company. Expenditures for maintenance, replacement, or repair of existing machinery, tools, and real property shall not constitute a capital investment; however, expenditures for the replacement of property shall not be ineligible for designation as a capital investment if such replacement results in a measurable increase in productivity.

How long must the company have a presence in Virginia to be eligible for the program?

The company must have a legal presence within the Commonwealth for at least one year prior to applying to the program and be in good standing the SCC to be eligible for the program.