Virginia Jobs Investment Program (VJIP)

The Virginia Jobs Investment Program (VJIP) is a discretionary funding initiative managed by the Virginia Economic Development Partnership (VEDP), a state-level organization committed to enhancing economic prosperity across the Commonwealth of Virginia. The program is designed to support job creation and workforce upskilling efforts tied to new or expanding business operations. Through a combination of financial assistance and strategic services, VJIP aims to reduce employer costs related to recruitment and training, thereby making Virginia a more attractive location for business growth and investment. The program delivers cash grants and talent development services to companies that qualify under strict eligibility criteria. These grants are awarded on a customized basis, with funding determined by a thorough assessment of a company’s specific recruiting and training plans and the overall economic benefit of the project to the state. The process is highly structured: applications must be reviewed and approved in advance by the Secretary of Commerce and Trade. VJIP support generally spans a 36-month project performance period, with reimbursements issued 90 days post-hire for new employees or after retraining is completed. VJIP covers both new job creation and workforce retraining. For new job creation, companies are divided into two categories based on company size. Businesses with more than 250 employees are eligible for the Virginia New Jobs Program, provided they create at least 25 net new full-time jobs within 12 months of the first hire and make a minimum capital investment of $1 million. Smaller companies with 250 or fewer employees qualify under the Small Business New Jobs Program with a threshold of five net new full-time jobs and a $100,000 capital investment requirement. Full-time jobs must meet wage thresholds set at 120% of the higher of the federal or Virginia minimum wage and must include standard fringe benefits, including health insurance and paid time off. Retraining programs, offered when the overall VJIP budget allows, are similarly split into large business and small business tracks. These programs support Virginia companies integrating new technology or changing production/service delivery processes. Large businesses must retrain at least 25 employees and invest $1 million, while small businesses must retrain five employees and invest $100,000, all within a 12-month period. Companies may only access either the job creation or retraining program, not both, and must wait three years after receiving retraining reimbursement to reapply. The VJIP application process involves close collaboration with a dedicated Business Manager from VEDP. The manager evaluates the project’s training and hiring needs, develops a funding estimate based on various project factors (such as wage competitiveness and local economic distress), and coordinates the approval process with the Secretary of Commerce and Trade. Upon approval, a commitment letter confirms the funding level per job or trainee. Reimbursements are submitted after hiring or retraining goals are met and verified by VEDP. Though public announcements are not mandatory, they are encouraged to promote economic growth stories. In addition to financial support, VJIP offers strategic services through partnerships with state and local entities including the Virginia Community College System, Career and Technical Education providers, and regional workforce development boards. These partnerships help companies develop tailored recruitment and training solutions, raise visibility for hiring efforts, and access skilled talent pipelines across the state. Contact for the program is Tim Stuller at [email protected] or 804-545-5733. There is no fixed application deadline; companies are advised to contact VEDP early in their planning to determine eligibility.