Evaluation: Economic Development Initiatives

JLARC is responsible for evaluating the state’s economic development initiatives—grants, tax credits, sales tax exemptions, and other incentives. (The Virginia General Assembly authorizes these evaluations through continuing language in the Appropriation Act.)

JLARC appointed the Economic Development Subcommittee to oversee the evaluation process.  JLARC staff evaluate spending on incentives; achievement of required business activity in return for incentives; economic benefits to Virginia of total spending on incentives; and effectiveness of incentives in influencing business activity. 

The subcommittee approved evaluation of the following initiatives in 2018:

    • Virginia Job Investment Program
    • Small Business Jobs Grant Fund
    • Small Business Investment Grant Fund
    • Loan Guaranty Program
    • State Cash Collateral Program
    • Virginia Economic Development Loan Fund
    • SWaM Loan Fund
    • Telework Expenses Tax Credit
    • Worker Retraining Tax Credit 

The subcommittee approved evaluation of the following initiatives in 2019:

    • Data Center Exemption
    • Pollution Control Equipment and Facilities Exemption
    • Semiconductor Manufacturers Exemption
    • Semiconductor Wafers Exemption
    • Biodiesel and Green Diesel Fuels Producers Tax Credit
    • Green Job Creation Tax Credit
    • Recyclable Materials Processing Equipment Tax Credit
    • Data Center Single Sales Factor Apportionment
    • Manufacturers Single Sales Factor Apportionment
Nov 2017 Economic Development Incentives: 2017
Nov 2017  Evaluation: Film Incentives