Virginia Regulatory Town Hall
Department of Transportation
GDForum ID: 1829
Description of Proposed Guidance Document Changes
A JLARC report published on September 14, 2020, titled Infrastructure and Regional Incentives, recommended several changes to the EDA program to include developing new guidelines that include provisions for the # of jobs, capital investment, or other relevant criteria and to revise guidelines to align with VEDP’s project selection criteria, which are designed to enhance economic benefits. At its 2021 Special Session, the General Assembly amended § 33.2-1509 Amendment providing for changes and requiring guidelines for the use of funds to take into account job creation, capital investment, and other relevant economic development considerations. These provisions are not currently reflected in the Economic Development Access Policy. Recommendations from the JLARC report and resultant revisions to the Code encouraged VDOT to work with VEDP on potential improvements to the EDA policy. VEDP surveyed stakeholders and researched other similar state programs. Based on feedback and research, VEDP presented recommendations to VDOT. VDOT staff then evaluated the recommendations and developed potential modifications to the policy. VDEP has concurred with proposed modifications. The proposed modifications include updating the application process to increase potential for success and address amendments to the Code of Virginia. Modifications also increase maximum allocation to align with current construction costs and provide design-only grants to address lead time and allow potential businesses to increase their level of readiness. The modifications also establish reduced capital investment requirements for economically distressed localities and provide credit for capital investment for jobs created or jobs retained for expansion of existing businesses.
[This forum has been finalized.]
Guidance Document(s) for this Comment Forum
Document ID Document Title Current Document Proposed Document
LAD-EDA Economic Development Program Access Guide link Document     link Proposed Document
Contact Information
Jo Anne P. Maxwell
Regulator Coordinator
Policy Division, 11th Floor
1401 E. Broad St.
The Virginia Register

Publication Date: 5/9/2022    Volume: 38  Issue: 19
The public comment period began upon publication and lasted for 30 days. It ended on 6/8/2022.
There were no comments
Effective Date:  6/9/2022   
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