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1997 SESSION

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SB 946 Semiconductor performance grants.

Introduced by: Walter A. Stosch | all patrons    ...    notes | add to my profiles

SUMMARY:

Trade and commerce; semiconductor performance grants. Provides incentive grants to qualified manufacturers of semiconductor memory or logic wafers who (i) make capital investments of at least $1 billion in buildings and equipment and (ii) locate their manufacturing facilities in Virginia counties having populations of at least 217,500 but not more than 220,000. The grants can be awarded to qualified manufacturers beginning five years after the commencement of wafer manufacture. To qualify, manufacturers must sell or use the manufactured wafers during the period January 1, 2003, through December 31, 2009. Grants will be made in the sum of $100 per memory wafer and $250 per logic wafer sold or used. The grants are to be paid from the Semiconductor Memory or Logic Wafer Manufacturing Performance Grant Fund II, to be funded by appropriations from the General Assembly. The total amount awarded through this grant program is limited to $15 million.


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