Provided by Prince William Chamber of Commerce
On Feb. 7, the State Senate of Virginia passed HB2180
,the “MICRON Bill,” by a vote of 38-2. On Jan. 25, the same legislation passed the Virginia House of Delegates by a vote of 91-5.
This legislation creates the “Semiconductor Manufacturing Grant Fund” for the award of grants to a qualified semiconductor manufacturing company that meets the following criteria:
- Makes a capital investment of at least $2.98 billion in a qualified locality
- Creates and maintains at least 1,106 new jobs with an average annual wage of at least $92,000
Such a qualified company would be eligible to receive a grant of $50 million in fiscal year 2020 and a grant of $20 million in fiscal year 2021. This would be subject to total or partial recapture if the qualified company does not meet the performance metrics agreed to in a memorandum of understanding with the Commonwealth.
Ross Snare is the Director of Communications of Government Affairs for the Prince William Chamber of Commerce. He said of the bill’s passing, “Since the MICRON project was announced, we knew this would be the major piece of legislation that we advocated for this session. The total investment and the number of high paying jobs as well as the positive things that MICRON has done and will continue to do for our community made this an easy initiative to support. It has been a real honor to be representing the business community in Prince William, Manassas and Manassas Park, especially being able to work with our Delegation and State Agencies to bring the largest Economic Development Project in the history of Commonwealth to our Region.
“On behalf of the Prince William Chamber and the business community I would like to thank the members of our Delegation from both houses: Senators Barker, Black, McPike, Stuart and Surovell and Delegates Ayala, Bell, Carroll-Foy, Guzman, Hugo, Roem and Torian for there support of this game-changing legislation.”