Va. Code Ann. § 59.1-284.49
A. As used in this chapter, unless the context requires a different meaning:
"Capital investment" means an expenditure by or on behalf of a qualified company on or after July 1, 2025, on or for real property, taxable tangible personal property, or both, at a facility in an eligible locality that is properly chargeable to a capital account or would be so chargeable with a proper election under Virginia law. Such term shall include (i) the purchase or lease of furniture, fixtures, business personal property, machinery, and tools, including under an operating lease, and (ii) expected building construction and up-fit by or on behalf of a qualified company.
"Eligible locality" means Goochland County.
"Facility" means the building, group of buildings, or corporate campus, including any related machinery and tools, furniture, fixtures, and business personal property, that is located at or near a qualified company's operations in an eligible locality and is owned, leased, licensed, occupied, or otherwise operated by a qualified company.
"Fund" means the Active Pharmaceutical Ingredient Manufacturing Grant Fund.
"Grants" means the grant payments from the Fund that are awarded to a qualified company in an aggregate amount not to exceed $130,000,000. The proceeds of any grants may be used by the qualified company for costs of construction and development of the facility, or any other lawful purpose.
"Memorandum of understanding" means a performance agreement or related document to be entered into by a qualified company, the Commonwealth, and VEDP that sets forth the requirements for capital investment and the creation of new full-time jobs by a qualified company to be eligible for grants from the Fund.
"New full-time job" means a job position for an employee of a qualified company (i) that is principally located at a facility; (ii) for which the average annual wage is at least $113,632, subject to an escalation factor for each year as set forth in the memorandum of understanding; (iii) for which the qualified company provides standard fringe benefits; and (iv) that requires a minimum of either (a) 35 hours of an employee's time per week for the entire normal year of the qualified company's operations, which "normal year" shall consist of at least 48 weeks, or (b) 1,680 hours of an employee's time per year. Seasonal or temporary positions and positions with construction contractors, vendors, suppliers, and similar multiplier or spin-off jobs shall not qualify as new full-time jobs. The Commonwealth may assess compliance with the new full-time job requirements for a qualified company by reference to the new payroll generated by a qualified company if provided for in the memorandum of understanding.
"Qualified company" means a company, including its affiliates, that engages in the manufacture of active pharmaceutical ingredients and that on and after July 1, 2025, but before July 1, 2045, is expected to (i) make a capital investment of at least $2,148,793,019 and (ii) create and maintain at least 468 new full-time jobs.
"Secretary" means the Secretary of Commerce and Trade or his designee.
"VEDP" means the Virginia Economic Development Partnership Authority.
2026, cc. 804, 822.