Status report on Virginia Economic Development Investment Grant (VEDIG) projects - Inception through present 1
Important note: VEDIG grants are post performance grants; thus, no funds are released until targets are met and verified. Clawbacks do not apply to VEDIG grants, as they are paid post performance.
As of December 31, 2023 - sorted by Status (last column), then alphabeticalProject
numberProject nameLocality

DateCompany
Projected
Grant
Completion Notification
amount ($)
Date
Received2

2022-142268 Clarabridge

Fairfax

2,000,000

12/31/2026

2022-142272 DroneUpVirginia Beach

4,000,0006/30/2027

2022-142446 Hilton

Fairfax

5,000,0006/30/2027

2017-137060 Navy Federal Credit Frederick
Union6
2014-114342 Lidl
Arlington

4,000,000

3/31/2024

2,000,000

6/30/2020

2016-137003
2017-137362
2011-21744
80-17605
80-14945
14-18054
80-16745

5,300,000
4,000,000
5,000,000
2,500,000
4,000,000
10,000,000
4,500,000
52,300,000

1/31/2023
12/31/2019
1/31/201612/31/2010
7/1/2008
10/31/2013
12/31/2009

TOTAL

7

Dollar Tree
Chesapeake
NestleArlington
BechtelFairfax
HiltonFairfax
MeadWestvaco
Richmond
Northrop Grumman Fairfax
Volkswagen
Fairfax% of targetjobsCapital
Jobs target Actual jobs attained as investment
as offoroftarget forCompletion Completion Completion Completion
DateDate3
DateDate ($)% of target% ofcapex
Avg. annual Actual avg.
targetActual capital attained as wage target annual wage
avg.
investment as
as ofoffor
annualof Completion Completion Completion Completion
wage
Date ($)3Date
Date ($)
Date ($)3attained

Status5400

TBD4

TBD415,900,000

TBD4

TBD4157,198

TBD4

TBD4 Within Performance Period

655

TBD4

TBD427,200,000

TBD4

TBD4103,652

TBD4TBD4 Within Performance Period

350

TBD4

TBD450,300,000

TBD4

TBD4242,297

TBD4

TBD4 Within Performance Period

1,400

TBD4

TBD4100,000,000

TBD4

TBD460,314

TBD4

TBD4 Within Performance Period

12/21/2020

500

464

93%

77,000,000

92,907,929

121%

128,000

128,066

100% Company Notification Period; grant reduced to$1,895,000; job target not fully met

8/30/2019
1/10/2020
4/22/2015
10/12/2011
4/28/2014
1/21/2013
3/28/2012

600
748
625
325
400
300
401
3,899

840
813
854
325
723
322
405
4,746

140%
109%
137%
100%
181%107%101%
122%

110,000,000
36,300,000
18,000,000
17,000,000
30,000,000
24,000,000
118,000,000
430,300,000

118,800,000
39,581,952
23,900,000
17,000,000
111,200,000
78,000,000
107,948,082
589,337,963

108%
109%
133%
100%
371%
325%
91%
137%

61,000127,719
134,200
136,186
90,000200,000
115,000

100,818
140,230
198,100
136,900
112,356
254,770
117,822165% Within Payout Period
110% Within Payout Period
148% Payout Completed
101% Payout Completed
125% Payout Completed
127% Payout Completed
102% Payout Completed

Pending
receipt
Pending
receipt
Pending
receipt
Pending
receipt1Excludes projects approved by the Governor which did not meet their targets by the projected completion date and for which funds were never disbursed.
Company notification reports the actual jobs, investment, and wages achieved as of the projected completion date.

2
3

No formal verification procedures were in place prior to 04/01/17. Projects with projected completion dates or payout dates on or after 04/01/17 have been verified through VEC data and with local Commissioners of the Revenue.
To be determined upon receipt of Company Notification.
5Status Definitions:
Within performance period: Companies within performance period are not required to report until the established projected completion date.
Company notification period: Company notification period means that companies are within the reporting stage for the agreed-upon targets.
Within payout period: Denotes companies that have met the established targets and are within the payout period. VEDIG grants are paid in five equal installments over a five-year period.
Payout completed: Denotes companies that have met the established targets and for which the grant has been fully paid.
6Extension of 15 months granted to allow company additional time to reach performance metrics.
7
Excludes jobs and capital investment for projects for which company notification has not begun.
41