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. 

 

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 2021:

Aircraft Parts, Engines, and Supplies Exemption

Airline Common Carrier Exemption

Barge and Rail Usage Tax Credit

International Trade Facility Tax Credit

Port of Virginia Economic Development Incentive Grant

Railroad Common Carrier Exemption

Railroad Rolling Stock Exemption

Ships and Vessels Exemption

Virginia Leaders in Export Trade (VALET) program

Virginia Port Volume Increase Tax Credit

Virginia Trade Show Assistance Program