Economic development incentives; wage requirements.
Sponsored By: R. Creigh Deeds (Democratic)
In Committee
Summary
Economic development incentives; wage requirements. Requires companies to pay an average wage for the jobs eligible for assistance under the component programs of the Virginia Jobs Investment Program that is no less than the prevailing average wage, defined in the bill, or, in the case of an economically distressed locality, defined in the bill, no less than 85 percent of the prevailing average wage. Under current law, to be eligible for the component programs, companies must pay a minimum entry-level wage rate per hour of at least 1.2 times the federal minimum wage or the Virginia minimum wage, whichever is higher, and in areas that have an unemployment rate of 1.5 times the statewide average unemployment rate, the wage rate minimum may be waived.The bill also authorizes the payment of Virginia Investment Performance Grants if the average wage paid by the eligible manufacturer or research and development service, excluding fringe benefits, is no less than 85 percent of the prevailing average wage in localities with either (i) an annual unemployment rate for the most recent calendar year for which such data is available that is greater than the final statewide average unemployment rate for that calendar year or (ii) a poverty rate for the most recent calendar year for which such data is available that exceeds the statewide average poverty rate for that year. Under current law, such authorization is limited to those localities meeting both the unemployment rate and poverty rate thresholds.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & Cosponsors
Sponsor
R. Creigh Deeds
Democratic • Senate
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
Continued from last session
7/21/2026SenateContinued to 2027 in Finance and Appropriations (15-Y 0-N)
2/3/2026SenateFiscal Impact Statement from Department of Planning and Budget (SB611)
1/21/2026SenateFiscal Impact Statement from Department of Planning and Budget (SB611)
1/21/2026SenateFiscal Impact Statement from Department of Planning and Budget (SB611)
1/21/2026SenateReferred to Committee on Finance and Appropriations
1/14/2026SenatePrefiled and ordered printed; Offered 01-14-2026 26102880D
1/14/2026Senate
Bill Text
Introduced
1/14/2026
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