Evaluation: Economic development incentives

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

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. 

 

Nov 2021

Economic Development Incentives 2021: Spending and Performance | Presentation
June 2021

Trade and Transportation Incentives | Presentation

Supplemental appendixes (online only)
Appendix M: Economic impact modeling
Appendix N: Results of economic and revenue impact analyses
Appendix O: References
Dec 2020

Economic Development Incentives: 2020 | Presentation
Sept 2020

Infrastructure and Regional Incentives | Presentation

Supplemental appendixes (online only)
Appendix O: Statistical analysis and economic impact modeling
Appendix P: Results of economic and revenue impact analyses
Appendix Q: Findings of peer-reviewed research
Appendix R: References
Dec 2019

Economic Development Incentives: 2019 | Presentation
June 2019

Data Center and Manufacturing Incentives | Presentation
Supplemental appendixes (online only)
Appendix M: Statistical analysis and economic impact modeling
Appendix N: REMI results
Appendix O: Findings of peer-review research
Appendix P: References
Dec 2018

Economic Development Incentives: 2018
Jul 2018

Workforce and Small Business Incentives
Supplemental appendixes (online only)
Appendix K: Quasi experimental statistical analysis and economic impact modeling
Appendix L: Results of economic and revenue impact analyses
Appendix M: Findings of peer-reviewed research
Appendix N: References
Nov 2017 Film Incentives
Economic Development Incentives: 2017

Staff are evaluating the following incentives in 2022:

Research and Development Exemption 
Research and Development Expenses Tax Credit 
Qualified Equity and Subordinated Debt Investment Tax Credit 
CIT GAP Fund 
Commonwealth Research Commercialization Fund 
Major Research and Development Tax Credit 
Virginia Spaceport Users Exemption 
Qualified Business Long-Term Capital Gain Subtraction
Venture Capital Income Tax Subtraction 
Zero G Zero Tax Act Subtractions