The College Board to expand, will retain more than 600 existing jobs
RICHMOND—Governor Ralph Northam today announced that The College Board, a non-profit organization formed in 1900 to broaden access to higher education, will grow its operation in Fairfax County, expanding into an additional 74,000 square feet in Reston Town Center. Virginia successfully competed against Washington, D.C. for the project, which will retain 614 existing jobs and create 120 new jobs.
Jason El Koubi serves as President and CEO at the Virginia Economic Development Partnership, where he leads VEDP’s overall strategy and operations to encourage, stimulate, and support the development and expansion of the economy of the Commonwealth.
Melissa Cox serves as the Human Resource Director at the Virginia Economic Development Partnership, where she is responsible for talent acquisition and retention, performance management, total rewards, and human capital risk management.
Experience
Before joining VEDP in May 1998, Cox served as a long-term substitute teacher with Henrico County Public Schools. Cox also spent five years with the Virginia Department of Agriculture and Consumer Services as an Office Services Specialist in the Office of Product and Industry Standards.
TemperPack to invest $10.4 million to establish packaging manufacturing operation
RICHMOND—Governor Ralph Northam today announced that TemperPack, a Richmond-headquartered manufacturer of sustainable thermal insulation for the shipment of perishable goods, will invest $10.4 million to establish a manufacturing operation in Henrico County. The facility will be the company’s second in Virginia. The project will create 141 new jobs.
Virginia offers sales and use tax exemptions for eligible equipment used directly in manufacturing and research and development operations. Prior to exemptions, the Commonwealth’s combined state and local sales and use tax is 5.3% (4.3% state tax and 1.0% local tax).
An income tax credit is available to manufacturers for the purchase of certified machinery and equipment used for processing recyclable materials in taxable years beginning before January 1, 2025. The credit is equal to 20% of the purchase price of equipment you buy to make things from recycled materials, or to convert waste products into raw materials during the taxable year that the machinery or equipment is purchased.
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 agricultural, manufacturing-related, or mineral and gas entity.
The International Trade Facility Grant Program (ITF Grant) has been established to provide grant funding to eligible international trade facilities that increase qualified trade activities at port facilities located in the Commonwealth of Virginia.
Grant funding is applied based on the capital investment made by the applicant to facilitate the qualified trade activities or an increase in employment at an international trade facility.
Virginia offers a data center retail sales and use tax exemption (DCRSUT Exemption) on qualifying computer equipment or enabling software purchased or leased for use in certain data centers in the Commonwealth meeting minimum investment and job creation requirements as outlined below.
The DCRSUT exemption is available beginning July 1, 2010, through June 30, 2035, unless the company meets the investment and job creation provisions required for an extension of the DCRSUT outlined further below.