Terms Used In Virginia Code > Title 2.2 > Subtitle II > Part B > Chapter 51 - Virginia Investment Partnership Act

• Alcoholic beverages: includes alcohol, spirits, wine, and beer, and any one or more of such varieties containing one-half of one percent or more of alcohol by volume, including mixed alcoholic beverages, and every liquid or solid, powder or crystal, patented or not, containing alcohol, spirits, wine, or beer and capable of being consumed by a human being. See Virginia Code 4.1-100
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Area of Operation: means land owned by the Commonwealth at Fort Monroe. See Virginia Code 2.2-2337
• Authority: means the Virginia Alcoholic Beverage Control Authority created pursuant to this subtitle. See Virginia Code 4.1-100
• Authority: means the Fort Monroe Authority. See Virginia Code 2.2-2337
• Authority: means the respective political subdivisions of the Commonwealth created in this subpart. See Virginia Code 2.2-2200
• Basic employment: means employment that brings new or additional income into Virginia and adds to the gross state product. See Virginia Code 2.2-5100
• Board: means the Board of Directors of the Virginia Alcoholic Beverage Control Authority. See Virginia Code 4.1-100
• Board: means the Board of Trustees created in § Virginia Code 2.2-2337
• Board: means the respective boards of directors for the authorities created in this subpart. See Virginia Code 2.2-2200
• Bonds: means any bonds, notes, interim certificates, debentures, or other obligations issued by the Authority pursuant to this article. See Virginia Code 2.2-2337
• Capital investment: means an investment in real property, personal property, or both, at a manufacturing or basic nonmanufacturing facility within the Commonwealth that is capitalized by the company and that increases the productivity of the manufacturing facility, results in the creation, development or utilization of a more advanced technology than is in use immediately prior to such investment, or both. See Virginia Code 2.2-5100
• City: means the City of Hampton, Virginia, a municipal corporation of the Commonwealth of Virginia. See Virginia Code 2.2-2337
• Design Standards: means the standards developed as a requirement of the Programmatic Agreement and referred to in that document as the "Historic Preservation Manual and Design Standards" which govern the restoration, rehabilitation, and renovation of the contributing elements to the Fort Monroe National Historic Landmark District and new construction, additions, and reconstruction of buildings so they are compatible with the overall character of the District, as they may be adopted or amended from time to time. See Virginia Code 2.2-2337
• Eligible company: means , for companies located in a Metropolitan Statistical Area with a population of 300,000 or more in the most recently preceding decennial census, a Virginia employer that:

  a. See Virginia Code 2.2-5100

• Eligible manufacturer or research and development service: means an existing Virginia manufacturer or research and development service that makes a capital investment of at least $25 million that is announced on or after June 1, 1998, which investment does not result in any net reduction in employment within one year after the capital investment has been completed and verified. See Virginia Code 2.2-5100
• Facility: means a particular building or structure or particular buildings or structures, including all equipment, appurtenances, and accessories necessary or appropriate for the operation of such facility. See Virginia Code 2.2-2337
• Flawed product: means an irregular unit of goods that cannot be sold to an end user. See Virginia Code 2.2-5100
• Fund: means the Virginia Investment Partnership Grant Fund created pursuant to § Virginia Code 2.2-5100
• inhabitants: means with reference to any county, city, town, political subdivision of the Commonwealth or any combination thereof, the natural persons in such county, city, town, political subdivision or combination as shown by the unadjusted United States decennial census last preceding the time at which any provision dependent upon population is being applied or the time as of which it is being construed. See Virginia Code 1-235
• Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
• Licensee: means any person to whom a license has been granted by the Authority. See Virginia Code 4.1-100
• Major eligible employer: means an existing Virginia manufacturer or any other nonmanufacturing basic employer that makes a capital investment of at least $100 million and creates at least 1,000 jobs, or corporate headquarters and other basic employers that make a capital investment of at least $100 million and create at least 400 jobs paying at least twice the prevailing average wage for the area. See Virginia Code 2.2-5100
• Manufacturer: means a business firm owning or operating a manufacturing establishment as defined in the Standard Industrial Classification Manual issued by the U. See Virginia Code 2.2-5100
• Partnership: means the Virginia Economic Development Partnership. See Virginia Code 2.2-5100
• Prevailing Average Wage: means that amount determined by the Virginia Employment Commission to be the average wage paid workers in the city or county of the Commonwealth where the eligible company is located. See Virginia Code 2.2-5100
• Principal stockholder: means any person who individually or in concert with his spouse and immediate family members beneficially owns or controls, directly or indirectly, five percent or more of the equity ownership of any person that is a licensee of the Authority, or who in concert with his spouse and immediate family members has the power to vote or cause the vote of five percent or more of any such equity ownership. See Virginia Code 4.1-100
• Productivity: means the number of hours of labor required to produce a unit of goods. See Virginia Code 2.2-5100
• Programmatic Agreement: means that certain agreement, as it may be amended from time to time, entered into among the U. See Virginia Code 2.2-2337
• Research and development service: means a business firm owning or operating an establishment engaged in conducting research and experimental development that supports manufacturing in the physical, engineering and life sciences as defined in the North American Industry Classification System Manual issued by the United States Census Bureau. See Virginia Code 2.2-5100
• Reuse Plan: means the document created by the Fort Monroe Federal Area Development Authority and adopted as an official operating document on August 20, 2008, as it may be amended from time to time. See Virginia Code 2.2-2337
• Secretary: means the Secretary of Commerce and Trade. See Virginia Code 2.2-5100
• state: means the Commonwealth of Virginia or any of its agencies or departments. See Virginia Code 2.2-2200
• Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
• Trustees: means the members of the Board of Trustees of the Authority. See Virginia Code 2.2-2337