RD543 - Effectiveness of Economic Development Incentive Grant Programs Administered by the Commonwealth of Virginia – November 15, 2018

Executive Summary:

In accordance with § 2.2-206.2 of the Code of Virginia, the Virginia Economic Development Partnership (VEDP) serves as the aggregator of data on seventeen different incentive programs administered by nine separate entities. This is the fifth annual report providing summary information on the performance of these economic development incentive programs. The goal of this report is to provide data and relevant measures of effectiveness on each incentive program in a transparent and easy-to-understand format. From FY2014 through FY2018, a total of $386,556,572 was awarded to 2,247 projects through the seventeen incentive programs captured in this report. The Code of Virginia requires at least three years of historical data be included, but the report goes back five years to better illustrate the performance of each program. This FY2018 report follows the format established in 2016. In addition to this document, the reporting agencies launched an interactive website ( http://www.virginiaincentives.org) to provide interested citizens with access to data on Virginia’s incentives.