How are agricultural and forestal products defined?
"Agricultural products" means crops, livestock, and livestock products, including field crops, fruits, vegetables, horticultural specialties, cattle, sheep, hogs, goats, horses, poultry, fur-bearing animals, milk, eggs, aquaculture, commercially harvested wild fish, commercially harvested wild shellfish, and furs.
"Forestal products" means saw timber, pulpwood, posts, firewood, Christmas trees, and other tree and wood products for sale or for farm use.
If unsure whether a business qualifies, contact the Virginia Department of Agriculture and Consumer Services.
How is a new job defined for this program?
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" shall consist of at least 48 weeks, or (ii) 2,000 hours per year.
What positions do not qualify as new jobs?
Seasonal or temporary positions, positions created when a job function is shifted from an existing location in the Commonwealth to the location of the economic development project, positions with suppliers, and multiplier or spin-off jobs shall not qualify as new jobs. The term "new job" shall include positions with contractors, provided that all requirements included within the definition of the term (provided in the previous answer) are met.
Can part-time or seasonal positions count as new jobs?
Although not considered new jobs, part-time and seasonal positions created by the project on a predictable, annual basis will be included when evaluating the project. For the purposes of the AFID application, these positions should be converted into full-time equivalent (FTE) positions (based on one FTE = 1,680 hours per year), along with average annual wage, and listed separately alongside the “New Jobs” figure.
How is capital investment defined for this program?
“Capital investment” means a private capital expenditure by the company in taxable real property, taxable tangible personal property, or both at the company’s facility in the locality. Capital investment does not include the amount of grant proceeds, AFID or any other, and other incentives applied to the costs of capital assets.
What types of investment do not count toward qualifying for this program?
Capital investment generally will not include operating expenses. Also, the cost of the acquisition of land and existing buildings will not count toward the required capital investment thresholds, unless the land and existing buildings are being purchased from a governmental entity and/or are being returned to the tax rolls.