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Find similar grantsMajor Eligible Employer Grant Program (MEE) is sponsored by Virginia Economic Development Partnership (VEDP). This discretionary program encourages major basic employers to invest in Virginia by expanding existing operations or constructing new ones, creating a significant number of stable employment opportunities.
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Virginia Investment Partnership Grant And Major Eligible Employer Grant Virginia Investment Partnership Grant And Major Eligible Employer Grant Virginia Investment Partnership Grant And Major Eligible Employer Grant The Virginia Investment Partnership (VIP) Grant and the Major Eligible Employer Grant (MEE) are discretionary performance incentives designed to encourage continued capital investment by Virginia companies, resulting in added capacity, modernization, increased productivity, or the creation, development and utilization of advanced technology.
The program is targeted at companies that have operated in Virginia for at least five years and propose projects that fall into one of the following two categories: VIP: A Virginia manufacturer, or research and development service supporting manufacturing, that makes a capitalized investment of at least $25 million while at least maintaining stable employment levels.
MEE: A Virginia major basic employers (manufacturing and nonmanufacturing) that make a capitalized investment of at least $100 million and create at least 1,000 new jobs (a minimum of 400 jobs, if average pay is at least twice the area’s prevailing average wage).
The amount of each VIP and MEE grant is determined by the Secretary of Commerce and Trade, based in part on the Virginia Economic Development Partnership’s return on investment analysis and recommendation, and is subject to the approval of the Governor. VIP and MEE grants are paid in five equal annual installments.
VIP grant installment payment begins in the third year after the capital investment and job creation or retention is achieved, or in the second year after if the company is locating in a fiscally distressed area of the state.
MEE grant installment payments begin in the sixth year after the capital investment and job creation are achieved, or in the fourth year after if the company is locating in a fiscally distressed area of the Commonwealth. Companies are required to execute a performance agreement before receipt of the grant to ensure that performance expectations are met. The project must not be publicly announced prior to award of a grant.
For additional information, including guidelines and application information, please contact: Virginia Economic Development Partnership Richmond, Virginia 23218-0798 Montgomery County businesses can leverage a wide variety of programs that support their efforts to sustain and grow their business. Available Sites & Buildings For more information, contact: Economic Development Dept. Email: info@yesmontgomeryva.
org The Montgomery County Department of Economic Development (MCDED) offers a number of free and confidential services and resources to help companies large and small. We welcome the opportunity to provide direct assistance to companies interested in starting, expanding or relocating a business in Montgomery County, Blacksburg and Christiansburg. Contact us today!
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According to the current listing, eligibility includes: Major basic employers making a significant expansion to existing operations or constructing new ones, providing a significant number of stable employment opportunities. Confirm the full requirements in the official notice before applying.
Major Eligible Employer Grant Program (MEE) is funded by Virginia Economic Development Partnership (VEDP). Verify program details on the funder's official page before applying.
Start from the official opportunity page linked in this listing — it carries the sponsor's submission instructions.
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