The Virginia Economic Development Partnership's Virginia Jobs Investment Program (VJIP) provides services and funding to companies creating new jobs or experiencing technological change. As a business development incentive supporting economic development since 1965, VJIP reduces the human resource development costs of new and expanding companies. With strong support from the Governor and General Assembly, VJIP is completely state-funded, demonstrating Virginia’s commitment to enhancing job opportunities for its citizens.
Eligibility for assistance in any of the programs offered by VJIP is limited to projects that create basic employment for the Commonwealth, since basic employment brings new income into the state, stimulates additional employment, and is the basis for further economic growth. These businesses or functions must directly or indirectly derive more than 50% of their revenues from out of state sources, as determined by VJIP. Examples of activities that most often are considered basic include:
The Virginia New Jobs Program is a vital part of Virginia’s economic development efforts. This program targets projects involving expansions of existing Virginia companies or new facility locations that involve competition with other states or countries. To qualify for assistance under the Virginia New Jobs Program, a company must be:
The Small Business New Jobs Program supports Virginia companies which have 250 employees or fewer company-wide. In order to qualify for assistance, a company must be:
Only full-time jobs are eligible for funding, and no funds shall be awarded for any positions created solely as the result of a merger or acquisition, or similar business combination unless such new full-time positions are relocated from outside Virginia.
The Workforce Retraining Program provides support for Virginia companies that are upgrading the skills of their existing workforce. 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. To be eligible for assistance under the Workforce Retraining Program, a company must be:
Only full-time jobs are eligible for funding, and companies can access the Workforce Retraining Program only once in a three- year period.
Working closely with company personnel, the Virginia Jobs Investment Program offers consulting services at no charge to your company, in addition to DIRECT FUNDING to offset your company’s recruitment and training costs.
Consulting services include:
Funding for each net new full-time job created or full-time employee retrained is based on a customized budget determined by an assessment for your recruiting and training activities. Funding is reimbursable 90 days after the trainee is hired (for new jobs programs) or after the retraining activity has occurred (for retraining programs).
For more information and application instructions, please contact the Virginia Economic Development Partnership:
Telephone: (804) 545-5706