13VAC5-112-285: Eligibility for reduced wage rate threshold

A. Prior to each qualification year, the department shall prepare the list of enterprise zone localities that are high unemployment areas that shall be used in determining eligibility for reduced wage rate thresholds for that qualification year.

B. Qualified business firms located in an enterprise zone listed as a high unemployment area are eligible to use the reduced wage rate threshold (125% of minimum wage) in qualifying for the $500 grant amount.

C. Qualified business firms that are certified under regulations adopted by the Director of the Department of Small Business and Supplier Diversity pursuant to subdivision 8 of § 2.2-1606 of the Code of Virginia are eligible to use the reduced wage rate threshold (125% of minimum wage) in qualifying for the $500 grant amount.

D. Once a qualified business is eligible for the reduced wage rate threshold it remains so through the end of its current five consecutive calendar-year grant period, regardless of changes to the unemployment rate of the enterprise zone locality.