VA SB835

Creates the Solid Rocket Motor Manufacturing Grant Fund to provide grants up to $97,723,000 for a solid rocket motor manufacturing facility in Pittsylvania County, Virginia

Requires the qualified company to invest at least $537,570,000 in capital and create at least 1,546 new full-time jobs between July 1, 2025 and July 1, 2045

New full-time jobs must pay an average annual wage of at least $81,483 with standard fringe benefits and require minimum 35 hours per week or 1,680 hours annually

Grants are capped at $6,000,000 per fiscal year and will be paid over 20 annual installments beginning fiscal year 2027-2028 through fiscal year 2046-2047

Grant payments are contingent on annual verification of job creation and capital investment, with companies required to submit documentation to the Secretary of Commerce and Trade by October 1 each year