Interim status report on Commonwealth's Development Opportunity Fund (COF) projects that have not yet reached their Performance Date1(clawbacks do not apply to these projects until Performance Date is reached)
Important note: Projects have NOT yet reached their Performance Date or Subsequent Performance Date (i.e., date on which target
performance levels are required by performance agreement)
As of December 31, 2023 - sorted by time remaining until performance dateProject
numberProject nameLocality

InitialAvg.
perf.
Extensionannualdate for
Capitalwage
meeting job, granted investment
targetPerf.
investment, new perf.
date (iftarget for perf. for perf. agreement and wage
date ($)
date ($)
datetargetsapplicable)2 Reason for extension

Grant
amount ($)

Jobs
targetforperf.
date

125,000

42

1,625,000

29,741

12/3/2018

3/31/2022

2017-138143 Carry-On Trailer

Westmoreland

2017-137060 Navy Federal Credit Union

Frederick

2,000,000

1,400

100,000,000

60,314

11/8/201712/31/2022

3/31/2024 COVID-19

None

2021-141987
2015-130761
2020-141439
2019-140789
2019-140582

Breeze Airways
Eldor
Exel
Hershey
Teal Jones

Norfolk
Botetourt
Stafford
AugustaWestmoreland

400,000
3,200,000
1,700,000
600,000
125,000

116
350
577
65
59

5,150,000
75,200,000
72,000,000
104,400,000
10,750,000

55,33337,95046,06546,40036,273

8/18/2021
3/15/201612/15/2020
4/28/2020
2/24/2020

6/30/2024
12/31/2021
6/30/2024
6/30/2024
6/30/2024

None No Extension
6/30/2024 COVID-19
None No Extension
None No Extension
None No Extension

None
None
None
None
None

2020-141609
2019-140619
2018-140262
2020-141613

Zasti
Howell Metal
Microsoft BN 9-13
Acoustical Sheetmetal

LoudounShenandoah
Mecklenburg
Virginia Beach

150,000
400,000
1,500,000
750,000

60
1021082005,930,000
8,039,000
1,066,755,918
15,800,000

71,25037,17547,00046,781

4/19/2021
8/12/201911/8/2018
8/31/2020

6/30/2024
7/31/2024
9/1/2024
6/30/2023

None
None
None
None

2021-141932 Aditxt
2021-141972 Oransi
2019-140581 Teal Jones

Richmond City
RadfordHenry

1,300,000
50,000200,000

347
101
67

31,545,800
2,215,000
21,000,000

78,39939,55635,45010/1/2021
7/1/2020
9/25/2019

9/30/2024
9/30/2024
6/30/2023

None No Extension
None No Extension
None No Extension
9/30/2024 Hiring difficulty forworker job set
None No ExtensionNone No Extension
9/30/2024 Job/Investment ramp up
slower than anticipated2018-140319 Traditional Medicinals
2019-140687 Total Fiber Recovery

Franklin
Chesapeake

350,000
200,000

56
68

29,679,998
48,985,034

47,68244,066

1/16/2020
12/1/2020

9/30/2024
6/30/2023

None
None

2017-137709 Eastman

Henry50,000

15

11,700,000

43,0005/30/2017

7/1/2020

None No Extension
9/30/2024 Equipment installationdelay
11/1/2020 COVID-19

2019-140790
2020-141626
2020-141516
2020-141150
2019-140987

Newport NewsHenryHenryHenry
Danville

280,000
65,00090,000100,000
600,000

211
1530
42160

15,250,0001,950,000
6,850,000
4,000,000
46,240,000

80,07350,00034,50036,171
34,875

9/1/2021
7/30/2020
8/25/2020
12/31/2020
11/13/2020

12/31/2024
12/31/2024
12/31/2024
12/31/2024
12/31/2024

Aery Aviation
Applied Felts
Drake Extrusion
Laminate Technologies
Litehouse Foods

1

None No Extension

Subsequent
perf. date (ifapplicable)

None No Extension
None No Extension
None No Extension
None No Extension
None No Extension

3/31/2024

None
None
None

11/1/2024
None
None
None
12/31/2025
NoneInterim status report on Commonwealth's Development Opportunity Fund (COF) projects that have not yet reached their Performance Date1(clawbacks do not apply to these projects until Performance Date is reached)
Important note: Projects have NOT yet reached their Performance Date or Subsequent Performance Date (i.e., date on which target
performance levels are required by performance agreement)
As of December 31, 2023 - sorted by time remaining until performance date

InitialAvg.
perf.
Extensionannualdate forCapitalwage
meeting job, granted investment
targetPerf.
investment, new perf.
date (iftarget for perf. for perf. agreement and wage
date ($)
date ($)
datetargetsapplicable)2 Reason for extension

Grant
amount ($)

Jobs
targetforperf.
date

GraysonNewport News
Pittsylvania
Pittsylvania
Albemarle
Hanover

150,000
227,700
500,000
3,048,000
256,000
1,950,000

59
34200
376
64
140

7,595,000
9,000,000
34,000,000
295,452,718
27,700,000
275,010,000

49,02857,50037,00041,66876,56375,551

6/15/2020
1/20/2023
11/30/2020
8/1/2021
9/1/2021
7/25/201812/31/2024
12/31/2024
12/31/2024
12/31/2024
3/31/2025
12/31/2021

2018-140324 KPMG

Fairfax

1,000,000

355

31,426,000

124,694

1/31/20192020-141661 Mohawk
2018-140032 Press Glass

CarrollHenry

80,0001,000,000

35
212

22,489,000
43,550,000

40,31937,7362021-142051
2020-141700
2021-142116
2021-142079
2021-142184

Service Center Metals
Shenandoah Valley Organic
VF Corporation
VFP
Certified Origins

Prince George
Harrisonburg
Henry
Scott
Newport News

350,000
500,000
225,000
100,000
125,000

94
110
82
30
30

101,722,000
64,250,000
10,200,000
7,165,800
24,625,0002021-142131
2019-141109
2019-141112
2019-140498
2022-142418
2022-142353
2022-142466
2020-141268
2021-142226
2020-141712

Granules India
MEP
Simplisafe
Veronesi Holding
Church & Dwight Company
Unilock
Hitachi Energy USA
Bausch & Lomb
BWXT
CivicaPrince William
Danville
HenricoRockingham
Chesterfield
Hanover
Halifax
Lynchburg
CampbellPetersburg

200,000
135,000
200,000
3,816,800
300,000
340,000
511,500
210,000
400,000
5,700,000

57
45
572
161
53
50
165
79
97
186

12,500,000
6,445,000
5,489,000
105,250,000
27,000,000
55,600,000
37,000,000
35,425,000
65,000,000
124,562,136

Project
number
2020-141457
2022-142623
2020-141403
2021-141954
2021-142033
2018-140024

Project name
Metalworx
Muhlbauer
Rage
Tyson Foods
Bonumose
CascadesLocality2Subsequent
perf. date (ifapplicable)
None
None
None
None
None
3/31/2025

12/31/2021

None No Extension
None No Extension
None No Extension
None No Extension
None No Extension
3/31/2023 Job/Investment ramp up
slower than anticipated
3/31/2023 COVID-19

9/30/2020
8/28/2018

3/31/2025
12/31/2021

None No Extension
3/31/2023 COVID-19

None
3/31/2025

74,96844,30033,82334,71541,254

9/1/2021
11/24/2020
5/25/2022
12/1/2021
10/1/2022

3/31/2025
3/31/2025
3/31/2025
3/31/2025
6/30/2025

None No Extension
None No Extension
None No Extension
None No Extension
None No Extension

None
None
None
None
None

53,76456,07754,33838,41655,55965,59243,50029,583
116,591
83,978

7/1/2022
6/1/2021
6/15/2020
7/8/2021
5/1/2023
6/15/2022
7/1/2022
9/15/2020
8/23/2023
1/26/2021

6/30/2025
6/30/2025
6/30/2025
6/30/2025
9/30/2025
9/30/2025
10/1/2025
12/31/2025
12/31/2025
12/31/2025

None No Extension
None No Extension
None No Extension
None No Extension
None No Extension
None No Extension
None No Extension
None No Extension
None No Extension
None No Extension

NoneNoneNone
None
None
None
None
None
None
None

3/31/2025

Interim status report on Commonwealth's Development Opportunity Fund (COF) projects that have not yet reached their Performance Date1(clawbacks do not apply to these projects until Performance Date is reached)
Important note: Projects have NOT yet reached their Performance Date or Subsequent Performance Date (i.e., date on which target
performance levels are required by performance agreement)
As of December 31, 2023 - sorted by time remaining until performance dateProjectnumberProject nameLocality

Grantamount ($)

Jobstargetforperf.
dateInitialAvg.
perf.
Extensionannualdate forCapitalwage
meeting job, granted investment
targetPerf.
investment, new perf.
date (iftarget for perf. for perf. agreement and wage
date ($)
date ($)
datetargets
applicable)2 Reason for extension

Subsequent
perf. date (ifapplicable)

2023-142795 Civica Rx

Chesterfield

400,000

51

27,800,000

100,000

3/1/2023

12/31/2025

None No ExtensionNone2019-140771 East Coast Repair andFabrication
2021-141835 Grayson Natural Farms
2023-142849 Hollingsworth & Vose

Newport News

1,314,000

332

64,400,000

51,024

11/8/2022

12/31/2025

None No Extension

None

GraysonFloyd

50,000558,700

4025

1,530,000
40,189,956

31,70652,488

11/10/2020
12/20/2022

12/31/2025
12/31/2025

None No Extension
None No Extension

None
None

2020-141427 Huntington Ingalls
2021-141891 Intertape Polymer
2022-142672 IperionX

HamptonPittsylvania
Halifax

1,500,000
150,000
300,000

268
50
108

46,000,000
44,500,000
82,100,000

69,201
38,00052,382

11/10/2020
9/1/2021
6/1/2023

12/31/2025
12/31/2025
12/31/2025

None No Extension
None No Extension
None No Extension

None
None
None

2021-141988 J&J Equipment
2021-141941 Kegerreis
2022-142487 M S International

Pittsylvania
Danville
Suffolk

50,000160,500
225,0002772
80

5,170,000
1,675,000
61,550,000

34,16660,484
57,166

6/1/2021
8/1/2021
5/1/2023

12/31/2025
12/31/2025
12/31/2025

None No Extension
None No Extension
None No Extension

None
None
None

2021-141899
2014-108775
2022-142660
2022-142581

ModinePure Salmon
Skip Barber
Lutron Electronics

Rockbridge
Tazewell
Halifax
Hanover

194,000
900,000
100,000
250,000

60
218
24200

7,025,000
198,370,000
8,900,000
28,300,000

47,117
59,133102,083
50,754

2/24/2021
9/21/2020
4/11/2023
10/1/2022

12/31/2025
12/31/2025
12/31/2025
3/31/2026

None No Extension
None No Extension
None No Extension
None No Extension

None
None
None
None

2023-143024
2020-141461
2021-141927
2021-141860
2022-142371
2021-141923
2020-141708
2020-141493
2022-142268
2018-140204

Weidmüller
Plasser American
Crown Holdings
Patton Logistics
TFC Poultry
AutoZone
Silk CityCava
Clarabridge
Speyside

Chesterfield
Chesapeake
Henry
PulaskiWinchester
New Kent
Fluvanna
Augusta
FairfaxSmyth488,450
450,000
1,000,000
225,000
500,000
2,512,000
70,000200,000
1,440,000
325,0009698
126
63
111
352
93
52
400
125

16,409,000
52,600,000
145,000,000
11,000,000
31,455,000
185,175,000
5,650,000
37,564,662
15,900,000
26,000,000

73,46750,18647,95841,03351,31543,98840,48447,235
157,198
30,173

7/18/2023
7/19/2022
2/1/2021
7/1/2021
5/1/2022
2/18/2022
6/22/2021
12/23/2021
12/1/2021
12/12/2018

3/30/2026
3/31/2026
6/30/2026
6/30/2026
6/30/2026
8/31/2026
9/30/2026
12/31/2026
12/31/2026
12/31/2022

None No Extension
None No Extension
None No Extension
None No Extension
None No Extension
None No Extension
None No Extension
None No Extension
None No Extension
None No Extension

None
None
None
None
None
None
None
None
None
12/31/2026

3

Interim status report on Commonwealth's Development Opportunity Fund (COF) projects that have not yet reached their Performance Date1(clawbacks do not apply to these projects until Performance Date is reached)
Important note: Projects have NOT yet reached their Performance Date or Subsequent Performance Date (i.e., date on which target
performance levels are required by performance agreement)
As of December 31, 2023 - sorted by time remaining until performance dateProject
numberProject nameLocality

Grant
amount ($)

Jobs
targetforperf.
date

InitialAvg.
perf.
Extensionannualdate forCapitalwage
meeting job, granted investment
targetPerf.
investment, new perf.
date (iftarget for perf. for perf. agreement and wage
date ($)
date ($)
datetargetsapplicable)2 Reason for extension

Subsequent
perf. date (ifapplicable)

2018-140229 Volvo

Roanoke

700,000

250

13,000,000

42,4002/11/2020

12/31/2021

None No Extension

12/31/2026

2019-140884
2017-137198
2020-141123
2021-142039
2022-142446

Pittsylvania
HanoverPittsylvania
HenricoFairfax

100,000
2,350,000
200,000
741,600
1,000,000

46700
92206
350

7,150,000
175,000,000
41,836,000
5,918,365
50,300,000

48,91355,012
34,94575,000242,297

6/14/2021
12/11/2019
11/7/201911/28/2022
6/15/2023

12/31/2026
12/31/2026
12/31/2021
6/30/2027
6/30/2027

None No Extension
None No Extension
3/31/2023 COVID-19
None No Extension
None No Extension

None
None
3/31/2027
None
None

2021-141826 SES
2022-142272 DroneUp
2023-142819 Heyco

Prince WilliamVirginia Beach
Greensville500,000
928,000
135,000

2016552117,000,000
27,200,000
5,400,000

128,456
103,652
48,429

7/1/2021
1/12/2023
6/8/2023

6/30/2027
9/1/2027
9/30/2027

None No Extension
None No Extension
None No Extension

None
None
None

2022-142592 AgroSpheres

Albemarle

200,000

53

25,000,000

74,434

5/1/2023

12/31/2027

None No ExtensionNone2023-142783 PRINCO

Norfolk

50,000284

23,800,000

54,888

10/1/2023

3/31/2028

None No ExtensionNone2020-141500 e-HealthScott626,500

160

375,000

36,567

5/1/2021

12/31/2028

None No ExtensionNone2020-141718 EarthLink

Norton686,500

285

4,800,00033,751

10/1/2021

12/31/2028

None No ExtensionNone2021-142213 Plenty

Chesterfield

2,400,000

300

300,000,000

53,555

9/15/2022

12/31/2028

None No ExtensionNone2023-143019 Northrop Grumman
2021-142082 Apex Mills

Waynesboro
Patrick

8,500,000
300,000

331
140

201,153,473
3,099,248

93,942
39,253None
None

Suffolk

200,00050

22,755,400

65,664

None No ExtensionNone2023-142882 Bauer Compressors

Norfolk

50,00047

7,431,173

44,535

None No ExtensionNone2023-142913 Berkley Mid-Atlantic Group

Henrico217,500

72

6,128,039

99,162

12/31/2031
Not YetEstablished
Not YetEstablished
Not YetEstablished
Not YetEstablished

None No Extension
None No Extension

2023-142951 Automatic Coating

11/14/2023
Not YetEstablished
Not YetEstablished
Not YetEstablished
Not YetEstablished

None No Extension

None

Walraven
Wegmans
AeroFarms
EAB
Hilton4

Interim status report on Commonwealth's Development Opportunity Fund (COF) projects that have not yet reached their Performance Date1(clawbacks do not apply to these projects until Performance Date is reached)
Important note: Projects have NOT yet reached their Performance Date or Subsequent Performance Date (i.e., date on which target
performance levels are required by performance agreement)
As of December 31, 2023 - sorted by time remaining until performance date

Project
numberProject nameLocality

Grant
amount ($)

Jobs
targetfor
perf.
date

InitialAvg.
perf.
Extensionannualdate forCapitalwage
meeting job, granted investment
targetPerf.
investment, new perf.
date (iftarget for perf. for perf. agreement and wage
date ($)
date ($)
datetargets
applicable)2 Reason for extension

2023-143184 Camrett Logistics

Pulaski

230,000

58

2,150,000

41,5342023-142788 Coronado Coal

Buchanan

3,525,000

181

169,063,865

108,2542023-143034 Delta StarLynchburg

850,000

149

30,150,000

67,4502023-142883 Engineered
BioPharmaceuticals
2023-143032 Framatome

Danville

150,000

34

6,125,000

55,882

Lynchburg

5,000,000

515

49,354,000

105,1092023-142784 Grucci Holdings

Pulaski

212,00045

5,450,000

49,8512023-142802 LS Cable

Norfolk

12,690,000

276

600,000,000

76,3152023-143177 Mack Trucks

Roanoke

255,00051

14,500,000

52,5302022-142749 Massimo Zanetti BeverageUSA2021-141814 PPD

Suffolk

450,000

79

29,103,926

50,246Henrico2,000,000

458

92,316,547

62,3952021-142047 PPD

Richmond City

151,95248

4,700,000

62,3952023-143189 Press Glass

Henry

2,000,000

335

155,198,255

40,3972022-142757 Ronald Mark Associates

Tazewell

116,000

29

13,500,000

45,903

5

Not YetEstablished
Not YetEstablished
Not YetEstablished
Not YetEstablished
Not YetEstablished
Not YetEstablished
Not YetEstablished
Not YetEstablished
Not YetEstablished
Not YetEstablished
Not YetEstablished
Not YetEstablished
Not YetEstablished

Not YetEstablished
Not YetEstablishedNot Yet
Established
Not YetEstablished
Not YetEstablished
Not YetEstablished
Not YetEstablished
Not YetEstablished
Not YetEstablished
Not YetEstablished
Not YetEstablished
Not YetEstablished
Not YetEstablished

Subsequent
perf. date (ifapplicable)

None No Extension

None

None No Extension

None

None No Extension

None

None No Extension

None

None No Extension

None

None No Extension

None

None No Extension

None

None No Extension

None

None No Extension

None

None No Extension

None

None No Extension

None

None No Extension

None

None No Extension

NoneInterim status report on Commonwealth's Development Opportunity Fund (COF) projects that have not yet reached their Performance Date1(clawbacks do not apply to these projects until Performance Date is reached)
Important note: Projects have NOT yet reached their Performance Date or Subsequent Performance Date (i.e., date on which target
performance levels are required by performance agreement)
As of December 31, 2023 - sorted by time remaining until performance date

Project
numberProject nameLocality

Grant
amount ($)

Jobs
targetfor
perf.
date

InitialAvg.
perf.
Extensionannualdate for
Capitalwage
meeting job, granted investment
targetPerf.
investment, new perf.
date (iftarget for perf. for perf. agreement and wage
date ($)
date ($)
datetargetsapplicable)2 Reason for extension

2021-142037 Scholle IPN

Smyth600,00075

31,079,779

50,8892023-143002 STS Plastics

Salem

500,000

119

32,600,000

49,5692023-143261 Tate

Russell

700,000

170

14,850,000

52,0202023-142881 Wilderness Asset Holdings

Bland

90,00030

4,300,000

42,8672023-142816 World Class Distribution

Caroline

3,000,000

745

275,000,000

38,4572022-142334 Zim American Integrated
Shipping
2022-142553 Zollner Elektronik AG

Virginia Beach

1,497,300

307

16,356,800

67,708360,000

100

18,000,000

51,536103,185,002

18,595

6,758,930,892

TOTAL
1Danville

Not YetEstablished
Not YetEstablished
Not YetEstablished
Not YetEstablished
Not YetEstablished
Not YetEstablished
Not YetEstablished

Not YetEstablished
Not YetEstablished
Not YetEstablished
Not YetEstablished
Not YetEstablished
Not YetEstablished
Not YetEstablished

Subsequent
perf. date (ifapplicable)

None No Extension

None

None No Extension

None

None No Extension

None

None No Extension

None

None No Extension

None

None No Extension

None

None No Extension

None

These projects are all within performance periods; thus, clawbacks do not apply to these projects until they reach their Performance Date.

2Effective 04/05/17, extensions require formal approval of first extension by VEDP Board and formal approval of second extension by VEDP Board and the Major Employment and Investment (MEI)
Commission; mid-2016 until 04/05/17, extension required approval of VEDP's Project Review and Credit Committee.

6