POPULATION: 1,814,468 (2008 estimate, U.S.
Census Bureau)
LABOR FORCE: 829,600 (August 2008)
RIGHT TO WORK: No
TRADITIONAL INDUSTRIES: Chemicals, plastics, steel, glass,
fabricated metals, value-added
wood products
EXPANDING INDUSTRIES: Biometrics/biomedical technology,
energy/environmental technology,
transportation equipment, aerospace,
business services, information
technology, printing, tourism
COLLEGE GRADUATES: (Age 25 and over) 19.2%
BASIC BUSINESS TAXES:
Corporation Net Income Tax:
Imposed annually at 8.5 percent
of federal taxable income allocated
and apportioned to West
Virginia; a phased tax reduction is
intended to bring the tax rate to
6.5 percent by 2014
Business Franchise Tax: Tax base
is the net worth of the corporation
or partnership as determined for
federal income tax purposes; rate
is 0.41 percent of the tax base
apportioned to West Viriginia or
$50, whichever is greater; an
annual phased reduction will eliminate
the tax by 2015
Consumers Sales and Service
(CSST) and Use Tax: There is a
6 percent consumers' sales and
service tax and a use tax; sales of
goods and services to a manufacturer
for direct use in manufacturing
are exempt from CSST (for instate
purchases) and from the use
tax (for out-of-state purchases)
Business Registration Tax:
$30 biennially for each location in
which business is conducted
Property Tax: Ad valorem property
taxes are local taxes; assessed
value of non-utility property is
set locally by elected county
officials
BUSINESS INCENTIVES
West Virginia Economic
Development Authority (direct
and indirect loans)
Industrial revenue bonds
West Virginia Infrastructure andJobs Development Council
Linked Deposit Program
Venture capital
Corporate Headquarters Credit
Economic Opportunity Credit
"Five-for-Ten" Program
Manufacturing Investment Credit
Manufacturing Inventory Credit
Strategic R&D Credit
W.V. Film Industry Investment Act
High-Tech Manufacturing Credit
Aircraft Valuation Tax Credit
High-Technology Business
Property Valuation Act
The Freeport Amendment
Manufacturing sales tax exemption
Special rates for electric power
industrial consumers
R&D sales tax exemption
Sales tax exemption for certain
e-commerce businesses
Tax increment financing
Tourism Matching Advertising
Partnership Program
Lodging exemptions
Governor's Guaranteed Work
Force Program
Workforce Investment Act
Program
