The VJIP program provides funding to companies creating new jobs, training employees or implementing new technology

The Virginia Jobs Investment Program (VJIP) is a discretionary program that provides funding to companies creating new jobs or experiencing technological change to reduce the human resource development costs for new companies, expanding companies, and companies retraining their employees. In addition to funding, VJIP also offers a variety of free recruiting and training services upon grant approval. The VJIP encompasses 2 different programs:

Virginia New Jobs Program

This program supports expanding or newly locating Virginia companies that have more than 250 employees company-wide. To qualify for assistance under the Virginia New Jobs Program, a company must be:

• Considering another state or country for the new location or expansion
• Creating at least 25 net new full-time jobs within 12 months from the date of the first hire
• Making a new capital investment of at least $1 million associated with the location or expansion
  

Small Business New Jobs Program

This program supports expanding or newly locating Virginia companies that have 250 employees or fewer company-wide. To qualify for assistance, a company must be:

• Creating at least 5 net new full-time jobs within 12 months from the date of the first hire
• Making a new capital investment of at least $100,000 associated with the start-up or expansion
  

Funding Details

• Funding for each new full-time job created or full- time employee retrained is based on a customized budget determined by an assessment of the company’s recruiting and training activities, as well as the project’s expected benefit to the Commonwealth
• VJIP incentive will not be approved for a project that has already been announced publicly
• Funding is reimbursable 90 days after the trainee is hired (for new jobs programs) or after the retraining activity has occurred (for retraining programs).

Eligibility Requirements & Projects

• Only full-time jobs paying at least 135% of the federal minimum wage and qualifying for benefits are eligible for funding
• Company must create basic employment for the Commonwealth
• These businesses or functions must directly or indirectly derive 51% or more of their revenue from out-of-state sources

Qualifying industry sectors include:

• Corporate HQs
• Distribution Centers
• Information Technology
• Manufacturing
• Research and Development
• Shared Service Centers