VA HB1076

Creates the Pharmaceutical Substance Manufacturing Grant Fund to provide up to $191,255,000 in grants to qualified pharmaceutical manufacturing companies locating in Albemarle County, Virginia

Requires qualified companies to invest at least $4 billion in capital and create a minimum of 500 new full-time jobs between July 1, 2025, and July 1, 2045

Sets minimum annual wage requirement of $160,750 for qualifying jobs, with positions requiring at least 35 hours per week or 1,680 hours annually

Limits annual grant payments to no more than $34,000,000, with grants anticipated to be paid in 20 annual installments subject to General Assembly appropriation

Requires companies to submit annual documentation by October 1 verifying job creation and capital investment to receive grant payments