Virginia SB709 establishes a Cloud Computing Cluster Infrastructure Grant Fund to support companies investing in data centers and creating jobs.
Virginia SB709 creates a special fund to support companies investing in data centers and creating jobs. The Cloud Computing Cluster Infrastructure Grant Fund provides grants to qualified companies that invest at least $50 billion and create 1,500 new full-time jobs paying at least 1.5 times the local prevailing wage. Companies must enter into a memorandum of understanding with localities and a performance agreement with the state. Grants are contingent on meeting job creation and investment targets by specified dates.
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