The VEDIG program is assisting and encouraging companies to create new employment opportunities in Virginia
The Virginia Economic Development Incentive Grant program (VEDIG) assists and encourages companies to invest and create new employment opportunities by locating significant headquarters, administrative, or service sector operations in Virginia.
- The VEDIG is a discretionary cash grant paid in five annual instalments
- There are no restrictions on expenditure of the grant proceeds
The creation of new employment opportunities by locating or relocating the following operations to Virginia may qualify for this program
- Company Headquarters
- Administrative office
- Service sector
All projects must meet the following eligibility requirements:
- Project must be affiliated with a basic employer, meaning 51% or more of the facility’s revenue must be generated outside the Commonwealth.
- There must be an active and realistic competition between Virginia and another state or country for attracting the project.
- Minimum capital investment, new job, and wage thresholds based on locality of the company are required