West Virginia has faced tough economic times in recent years due to the collapse of its coal industry. According to the WVU College of Business and Economics, the state produced 80 million tons of coal in 2016, roughly half of what it produced in 2008. The state is aiming to capitalize on new opportunities arising in the shale gas industry, and also in manufacturing. In 2016 Procter & Gamble announced a $500 million investment in a one million-square-foot facility on a 458-acre site in Martinsburg. Danish Insulation manufacturer ROXUL also announced a $150 million manufacturing plant in the city of Ranson, which will place production near major population centers in the Northeast, Mid-Atlantic and Midwestern U.S.
From the Governor
“Companies from around the world are discovering West Virginia is a profitable place to do business due to the state’s market location with access to more than 50% of the U.S. population, abundant natural resources, a skilled workforce, an improved business climate and incentive programs and support from a pro-business state government.” —Gov. James C. Justice
Automotive, Biometrics, Chemicals, Data Centers, Film, Metals, Printing, Wood Products
International Coal Group
Hino Motors Manufacturing USA
Procter & Gamble
Murray American Energy
Economic Opportunity Tax Credit: Offsets up to 80% of corporate net income tax and personal income tax attributed to qualified investment for companies that create at least 20 new jobs within a specified time limit.
SpecialPropertyTaxValuation: Offers up to a 95% property tax deduction for certain sectors, including chemicals, polymer metals, data centers and aviation.
ManufacturingInvestmentTaxCredit: Offers a tax credit against up to 60% of corporate net income tax based on qualified investment in eligible manufacturing property.
Corporate Headquarters Relocation Credit: Offers a credit to offset up to 100% of business and occupation tax, corporate income tax and personal income tax for a period of up to 13 years for companies that relocate their headquarters to the state and create 15 new jobs in the first year.
West Virginia Economic Development Authority: wveda.org
West Virginia Department of Commerce: westvirginia.gov
Charleston Area Alliance: charlestonareaalliance.org
Huntington Area Development Council: hadco.org
Highlighted Program or Initiative
The Governor’s Guaranteed Work Force Program (GGWFP) offers financial and customized technical assistance to the state’s new and expanding businesses for training and upgrading the skills of workers.
ROXUL announced in July 2017 it will create 150 new jobs and invest $150 million in a manufacturing plant in Ranson.
Hino Motors Manufacturing announced in September 2017 it will construct a $100 million facility in Mineral Wells and add 250 new jobs by 2020.
Toyota announced in September 2017 it will invest $115 million to create a new production line at its facility in Buffalo.
Solvay Technology Solutions announced in October 2017 it will add 40 new jobs and invest $70 million to double its manufacturing capacity in Pleasants County.
“I am very pleased to announce that we plan to purchase and make the former Coldwater Creek distribution center in Mineral Wells, West Virginia, the new home of Hino truck production in the U.S. The new plant, which is four times the size of our current plant, will allow us to combine several assembly operations under one roof—providing us with significant efficiency gains.” —Takashi Ono, President, Hino Motors Manufacturing USA
“The folks we have building engines in West Virginia are among the best in the business. Toyota West Virginia is the only Toyota plant in North America to produce both four-cylinder and V6 engines and six- and eight-speed transmissions.” —Leah Curry, President, Toyota Motor Manufacturing West Virginia