Virginia SB786 provides tax credits for microchip and semiconductor manufacturing companies.
Virginia SB786 offers tax credits for companies investing in microchip and semiconductor manufacturing. Companies must invest at least $400 million, create new jobs, and pay prevailing wages. Credits cover capital investments, child care services, and new jobs. Companies must submit a community investment plan and annual reports. The Virginia Economic Development Partnership Authority will evaluate the incentives' impacts and submit a report by November 30, 2026.
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