Virginia Administrative Code Title 7 - ECONOMIC DEVELOPMENT
Virginia Administrative Code Title 7, "Economic Development," contains the rules and regulations that govern agencies and programs aimed at promoting economic growth, business development, and community revitalization within the Commonwealth of Virginia.
While the specific agencies and their chapters may evolve over time due to legislative changes and reorganizations, the core focus of Title 7 remains on fostering a strong economic environment.
Here are the key agencies and types of regulations you would typically find under Title 7:
Primary Agencies and Their Regulations:
Department of Small Business and Supplier Diversity (Agency 13):
Certification of Small, Women-Owned, and Minority-Owned Businesses: This is a major area of regulation. These rules establish the criteria, application process, and procedures for certifying businesses as small, women-owned, and minority-owned (SWaM) for purposes of state procurement and contracting preferences. This includes definitions of "small business," "women-owned business," "minority-owned business," and the documentation required for certification and re-certification.
Disability-Owned Business Certification: Regulations may also cover the certification of businesses owned by individuals with disabilities.
Compliance and Enforcement: Rules related to auditing certified businesses and handling complaints or appeals regarding certification status.
Virginia Small Business Financing Authority (Agency 15):
This authority plays a crucial role in providing financial assistance to small businesses. Its regulations would cover:
Loan Programs: Rules for various loan programs designed to help small businesses access capital, including eligibility criteria, application procedures, loan terms, and collateral requirements.
Bonding Assistance: Regulations for programs that help small and minority-owned businesses obtain bid, performance, and payment bonds.
Other Financial Assistance Programs: Any other grant or financing initiatives managed by the authority.
Virginia Economic Development Partnership (VEDP):
While VEDP is a state authority with a board, its day-to-day operations and specific programs often generate administrative rules. These might be found within or referenced by Title 7.
Incentive Programs: Regulations for economic development incentive programs, such as grants or tax credits offered to businesses for job creation, capital investment, or locating in specific areas. This could include criteria for eligibility, application processes, reporting requirements, and clawback provisions if conditions are not met. Examples include the Virginia Business Ready Sites Program, which has detailed guidelines for site characterization and development.
International Trade Development: Rules and guidelines related to programs designed to promote exports and attract foreign direct investment.
Marketing and Business Development: While less common for formal regulation, there might be administrative procedures related to how VEDP engages in its core mission of marketing Virginia to businesses.
Department of Housing and Community Development (DHCD):
While DHCD's regulations primarily fall under other titles (e.g., Title 13 for Housing), some of its programs have a direct impact on economic development, particularly those related to community development, downtown revitalization, and affordable housing initiatives that support workforce development and attract businesses. You might find cross-references or specific rules here related to:
Community Development Block Grants (CDBG): State administration of federal CDBG funds for economic development projects in localities.
Virginia Community Development Block Grant Program (V-CDBG): State-specific criteria and procedures for V-CDBG applications and administration.
Industrial Revitalization Fund: Rules for programs aimed at redeveloping abandoned or underutilized industrial and commercial properties.
Virginia Enterprise Zones: Regulations related to the designation and operation of enterprise zones, which offer incentives for investment and job creation in distressed areas.
Purpose of Title 7:
The primary purposes of the regulations found in Title 7 are to:
Promote Economic Growth: By creating a regulatory framework for programs and incentives that encourage business investment, job creation, and economic diversification across the Commonwealth.
Support Businesses: Provide pathways for small, women-owned, and minority-owned businesses to compete more effectively for state contracts and access crucial financing.
Facilitate Development: Guide the use of state resources and programs to develop sites, infrastructure, and communities that are attractive to businesses.
Ensure Fair and Transparent Administration: Establish clear, consistent procedures for applying for and administering economic development programs, ensuring accountability and preventing misuse of public funds.
Implement Legislative Mandates: Translate the economic development statutes passed by the Virginia General Assembly into actionable rules for state agencies and the public.
To find the most current and specific regulations, it is always best to consult the official Virginia Administrative Code provided by the Virginia Law Library (LIS) or the official websites of the respective agencies (e.g., Virginia Department of Small Business and Supplier Diversity, Virginia Small Business Financing Authority, Virginia Economic Development Partnership, and Virginia Department of Housing and Community Development).
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