Consultants Forum    |   FacilityLocations    |   FastFacility    |   Advertise    |   Subscribe    |   Newsletter    |   RSSRSS
West Virginia Resources Page
Inward Investment Guides

Energy-Rich States Growing U.S. Economy, Shifting Global Balance

Geraldine Gambale, Editor, Area Development Magazine (Q3 2014)
States with plentiful energy resources exhibited the fastest rates of economic growth last year; nationwide growth in energy-related jobs was more than twice the national average of overall job growth. More

Leading Locations for 2014: U.S. Metros Ranked for Economic and Job Growth

Dale D. Buss, Staff Editor,  (Q2 2014)
Area Development analyzes economic and workforce data for 379 MSAs, producing a snapshot of the cities across America that are poised to capitalize on the new potential for economic growth as the United States leaves the recession behind. A diversified economic base tops the most desirable traits. More

West Virginia Direct Financial Incentives 2014

Area Development Online Research Desk (Q1 2014)
West Virginia's economic development, finance and tax organizations provide a range of incentive programs to initiate new business and commercial investment. More

Manufacturing in America: Bigger, Better and Bolder

Mark Crawford (Q1 2014)
American manufacturing is on the upswing, with advances in innovation and productivity buoyed by decreased energy and transportation costs, and new efforts to increase work force skills. More

Optimizing Economic Growth in Shale Zone Communities

Bruce Rutherford, International Director, Global Energy Practice Leader, JLL (Q1 2014)
The ability to access oil and natural gas reserves found in the nation’s shale regions has presented new opportunities for economic growth along with a host of infrastructure and real estate challenges. More

Regional Report: The South Atlantic Capitalizes on Its Pro-Business Climate

Beth Mattson-Teig (Directory 2014)
Customized incentives and work force training, as well as its right-to-work environment, are drawing auto, aero, life sciences, and other advanced manufacturers to the South Atlantic. More

Employing a Team Approach During Planning and Construction of a New Facility

Daniel Kiley, LEED AP BD+C, DLK Construction Services LLC (Q4 / Fall 2013)
By utilizing a multidisciplinary development firm that can adapt to their specific needs, companies can ensure their facilities are delivered on time and within budget. More

Leading Locations for 2013: The South-Atlantic MSAs

Area Development Magazine Special Presentation (July 2013)
Success breeds success, and economic growth in the South Atlantic States — Florida, Georgia, North Carolina, South Carolina, Virginia, and West Virginia — is a prime example of this, especially when it comes to foreign investment. More

WEST VIRGINIA at a glance

POPULATION: 1,853,000

LABOR FORCE: 805,600 (2012)

RIGHT TO WORK: No

TRADITIONAL INDUSTRIES:Chemicals, plastics, steel, glass, fabricated metals, automotive, wood products, tourism

EXPANDING INDUSTRIES: Biometrics/biomedical technology, energy/environmental technology, transportation equipment, aerospace, business services, information technology, printing, warehouse distribution

COLLEGE GRADUATES: (Age 25 and over) 19.2%

BASIC BUSINESS TAXES:
Corporation Net Income Tax: The corporation net income tax is imposed annually at a 2012 rate of 7.75 percent of federal taxable income allocated and apportioned to West Virginia. There is a scheduled phased tax rate reduction intended to bring the tax rate to 6.5 percent by 2014.

Business Franchise Tax: The tax base is the net worth of the corporation or partnership as determined for federal income tax purposes. The 2012 tax rate is 0.27 percent of the tax base apportioned to West Virginia or $50, whichever is greater. There will be an annual phased reduction in the tax and the tax is scheduled to be eliminated in 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 outof- state purchases).

Business Registration Tax: This is a one-time $30 tax required for each location in which business activity is conducted. Businesses generating annual gross income of less than $4,000 are exempt from payment but still must file to obtain the certificate. Business registration certificates issued on or after July 1, 2010 are issued on a permanent basis and not subject to renewal.

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 (fractionating plants and secondary plants)

"Five For Twenty-Five" Program ($2 billion primary fractionating plants, secondary plants and tertiary plants

Manufacturing Investment Credit

Manufacturing Inventory Credit

Strategic R&D Credit

Commercial Patent Incentives Credit

W.V. Film Industry Investment Act

High-Tech Manufacturing Credit

Aircraft Valuation

High-Technology Business Property Valuation Act

The Freeport Amendment

Manufacturing sales tax exemption

Special rates for electric power industrial consumers

Research and development 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

Principal Manufacturing industries

  • Chemicals & Plastics
    26.0%
  • Wood Products
    15.0%
  • Machinery & Transportation Equipment
    13.0%
  • Fabricated Metal Products
    12.0%
  • Primary Metals
    9.0%
  • Food & Beverages
    8.0%
  • Mineral Products
    8.0%
  • Other Manufacturing Industries
    9.0%