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 0.48 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 in-state 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 and Jobs 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 R&D sales tax exemption
Sales tax exemption for certain e-commerce businesses
Tourism development incentive
Tax increment financing
Tourism Matching Advertising Partnership Program
Lodging exemptions
Governor’s Guaranteed Work Force Program
Workforce Investment Act Program