VA SB404

Establishes the Active Pharmaceutical Ingredient Manufacturing Grant Fund to provide up to $130 million in grants to a qualified pharmaceutical manufacturing company locating in Goochland County, Virginia

Requires the qualified company to invest at least $2.15 billion in capital and create at least 468 new full-time jobs between July 1, 2025, and July 1, 2045

Sets minimum annual wage requirement of $113,632 for qualifying jobs, with standard fringe benefits and at least 35 hours per week or 1,680 hours annually

Limits grant payments to no more than $15 million per fiscal year, distributed over 20 annual installments beginning in fiscal year 2027

Requires annual verification of job creation and capital investment to the Secretary of Commerce and Trade by October 1 each year to receive grant payments