Terms Used In Virginia Code > Title 59.1 > Chapter 22.18 - Shipping and Logistics Headquarters Grant Program

• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
• Capital investment: means an expenditure within an eligible locality, by or on behalf of a qualified company on or after January 1, 2021, in real property, tangible personal property, or both, at one of the facilities within an eligible locality that has been capitalized or is subject to being capitalized. See Virginia Code 59.1-284.39
• City: means an independent incorporated community which became a city as provided by law before noon on July 1, 1971, or which has within defined boundaries a population of 5,000 or more and which has become a city as provided by law. See Virginia Code 1-208
• Eligible locality: means the City of Norfolk or the County of Arlington. See Virginia Code 59.1-284.39
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Facilities: means the buildings, group of buildings, or campus, including any related furniture, fixtures, equipment, and business personal property, in an eligible locality that is owned, leased, licensed, occupied, or otherwise operated by or on behalf of a qualified company for use as a headquarters facility, a customer care center, or a research and development innovation center in the furtherance of its shipping and logistics business. See Virginia Code 59.1-284.39
• Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. ^{Source: OCC}
• Fund: means the Shipping and Logistics Headquarters Grant Fund. See Virginia Code 59.1-284.39
• Grant: means a grant from the Fund awarded to a qualified company in an aggregate amount of up to $9,042,875. See Virginia Code 59.1-284.39
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Memorandum of understanding: means a performance agreement or related document entered into on or before August 1, 2022, between a qualified company and the Commonwealth that sets forth the requirements for capital investment and the creation of new jobs for the qualified company. See Virginia Code 59.1-284.39
• New job: means full-time employment at or associated with any of the facilities measured at any time after January 1, 2021, for which the annual average wage is at least $56,713 for a position in the City of Norfolk or at least $99,385 for a position in the County of Arlington, that requires a minimum of 38 hours of an employee's time per week for the entire normal year, consisting of at least 48 weeks, of the qualified company's operations. See Virginia Code 59.1-284.39
• Qualified company: means a shipping and logistics company, and its affiliates, that between January 1, 2021, and September 30, 2030, is expected to (i) retain its North American headquarters operations in the City of Norfolk; (ii) make or cause to be made a capital investment at one or more of the facilities of at least $36 million; (iii) create and maintain at least 415 new jobs at or associated with the facilities related to, or supportive of, its shipping and logistics business functions; and (iv) establish and operate a research and development innovation center. See Virginia Code 59.1-284.39
• Secretary: means the Secretary of Commerce and Trade or his designee. See Virginia Code 59.1-284.39