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West Virginia Is 35th Best State for Business 2014

Corporate tax rate reductions during the past two years and additional reductions scheduled for next year, plus the scheduled elimination of the Corporate Franchise Tax by 2015, are all being accomplished while maintaining a balanced state budget.

Previous State: Minnesota Next State: Maine

No. 35 West Virginia

Taxations & Regulations

Workforce Quality

Living Environment

Key Metrics
State GDP 

  • % Growth ’12-’13: 5.1
  • % Growth ’11-’12 v. Nat’l Avg. (2.5%): 0.8

Unemployment

  • Unemployment Rate Dec. 2013 %: 5.9
  • Comparison with Nat’l Rate (6.70%): -0.8

Domestic Migration

  • Domestic Net Migration 2013: -1,894
  • Rank: 28

State Government

  • State Debt per Capita Fiscal Year ’13 ($): 4,375
  • State & Local Gov’t Employees per 10k Residents: 558.5

State-Local Tax Burden

  • Rate (%): 9.7%
  • Compared to Nat’l Avg. (9.9%): -0.15%
Key Companies
  • International Coal Group Inc.
  • MTR Gaming
  • United Bankshares
Development Trend Indicator: Neutral
Cut in worker’s comp rates helps offset troubles besetting coal industry.


Based on CEO Survey by ChiefExecutive.net

Sources:
Bureau of Economic Analysis
Bureau of Labor Statistics
NewGeography.com
The Tax Foundation

About JP Donlon

JP Donlon
JP Donlon is the Editor-in-Chief of Chief Executive magazine.