All VJIP programs are limited to companies that create basic employment for the Commonwealth. These businesses or functions must directly or indirectly derive 51% or more of their revenue from out-of-state sources, as determined by VEDP. Qualifying industry sectors include:
- Corporate HQs
- Distribution Centers
- Information Technology
- Research and Development
- Shared Service Centers
Only full-time jobs paying at least $9.79 per hour and qualifying for benefits are eligible for funding. In areas that have an unemployment rate of 150% or more than the state level, this wage minimum may be waived.
Virginia New Jobs Program
This program supports expanding or newly locating Virginia companies that have more than 250 employees company-wide. To qualify for assistance under the Virginia New Jobs Program, 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 start-up or expansion.
Workforce Retraining Programs
Multiple programs support Virginia companies that are upgrading their existing workforce’s skills. Participating companies must demonstrate that they are undergoing integration of new technology into their production process, a change of product line in keeping with marketplace demands, or substantial change to their service delivery process that would require assimilation of new skills and technological capabilities by their existing labor force. Companies can access the Workforce Retraining Program only once in a three-year period. To be eligible for assistance under the Workforce Retraining Program, a company must be:
- Retraining at least 10 full-time employees (for businesses with more than 250 employees company-wide) or five full-time employees (for businesses with 250 employees or fewer company-wide).
- Making a new capital investment associated with the retraining project, within a 12-month period, of at least $500,000 (for businesses with more than 250 employees company-wide) or $50,000 (for businesses with 250 employees or fewer company-wide).