The Virginia Investment Performance Grant (VIP) encourages continued capital investment by existing Virginia companies, resulting in added capacity, modernization, increased productivity, or the creation, development, and utilization of advanced technology. The program targets existing manufacturers or research and development services supporting manufacturing. There must be an active and realistic competition between Virginia and another state or country for attracting the project, and matching local financial participation is expected.

The amount of each VIP grant is determined by the Secretary of Commerce and Trade, based in part on the Virginia Economic Development Partnership’s (VEDP) Return-on-Investment analysis and recommendation, and is subject to the approval of the Governor.

Call Jeff Reed at 434.738.2544 or 434.265.2382 with questions pertaining to incentives.

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