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. 

Nov 2017 Film Incentives
Economic Development Incentives: 2017

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