#37 West Virginia


4.63 out of 10 in Taxation and Regulation

4.00 out of 10 in Workforce Quality

4.67 out of 10 in Living Environment

Right to Work?


Making the Transition from Coal

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

Key Industries

Automotive, Biometrics, Chemicals, Data Centers, Film, Metals, Printing, Wood Products

Key Companies

International Coal Group
Kroger
MTR Gaming
United Bankshares
Hino Motors Manufacturing USA
Procter & Gamble
Toyota
Mylan Pharmaceuticals
Murray American Energy
Amazon
TeleTech
ResCare

Key Contacts

West Virginia Department of Commerce
H. Wood Thrasher, Cabinet Secretary
(304) 558-2234
1900 Kanawha Boulevard East
Charleston, West Virginia 25305
W.Thrasher@wv.gov
http://westvirginia.gov/

Key Incentives

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.

Special Property Tax Valuation: Offers up to a 95% property tax deduction for certain sectors, including chemicals, polymer metals, data centers and aviation.

Manufacturing Investment Tax Credit: 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.

EDCs

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.

Big Deals

  • 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.

C-Suite Testimonials

“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

- Advertisement -

CEO1000

CEO1000 Tracker Full List

From the schools they went to to the types of companies they run, CEO1000 is tracking the trends among the CEOs of the 1,000 largest U.S. companies.

SUBSCRIBE TO CHIEF EXECUTIVE

Sign Up to Receive Chief Executive’s Magazine and e-Newsletters

Chief Executive’s publications are designed to help CEOs do their jobs better and run their businesses more effectively. Subscribe here.

CEO CONFIDENCE INDEX

CEO Confidence Hits New Low For 2018 In July As Optimism In Future Growth Fades

Our monthly poll of nearly 300 U.S. CEOs found their outlook and confidence in future business conditions at a low for the year as the global trade war looms large.
- Advertisement -

BEST & WORST STATES FOR BUSINESS

Best and Worst States For Business

Are you looking to relocate or expand? Evaluate each state's strengths with Chief Executive's 2018 Best & Worst States for Business.

CEO OF THE YEAR

CEO of the Year

Once a year, we celebrate the achievements of a CEO, honored for his or her success in and dedication to business, shareholders and customers.

EDITOR'S PICKS

Five Tips For When You’re Ready To Sell Your Company

Founder-CEOs might have a hard time letting go of their baby, but when it’s time to sell, it’s time. Here are five tips on selling your company.

Sonnenfeld: PepsiCo’s Indra Nooyi Did It Her Way

PepsiCo CEO Indra Nooyi plans to step aside in October, leaving an impressive legacy at the beverage giant—not only in terms of performance, but in terms of corporate culture.

When Politics And Business Clash

When it comes to dealing with customers divided along ideological lines, there aren’t any simple choices.

Elon Musk Goes To Charm School

Wall Street thought Elon Musk was apologizing. He was letting them know he’s been studying for the next chapter of his incredible journey.