CEO Guide to Site Selection

#39

West Virginia

CEO Rank on Best & Worst States for Business

MORE OPPORTUNITIES IN THE MOUNTAIN STATE

West Virginia is now striving to capitalize on re- mote work trends by offering one of the most generous incentive programs. The Ascend WV program offers remote workers a generous incentive package that includes $12,000 and a year’s worth of free outdoor recreation activities through more than a dozen outfitters from across the state. It also offers free co-working space, invites to networking events with business leaders, guided outdoor excursions and access to WVU’s entrepreneurship ecosystem

“West Virginia’s economy continues to grow. We have an incredible manufacturing base and a great workforce training program that will, together, produce a lot of good stuff in our beautiful state...we’re that diamond in the rough that everybody missed that now they’re beginning to see.”
Jim Justice
Governor

TAXES

0 %

top corporate income tax

# 0

on the Tax Foundation’s State Business Tax Climate Index ranking

EDUCATION

0 %

of students graduated high school in 2019

0 %

of adults age 25 and older have a bachelor’s degree or higher

UNEMPLOYMENT RATE

0 %

RIGHT TO WORK STATE

Yes

QUALITY OF LIFE

# 0

POPULATION GROWTH

0 %

decrease between 2010 and 2020

KEY INCENTIVES

West Virginia Economic Development Authority Direct Loan Program: Offers financial assistance in the form of loans, direct financing and operating leases to industrial development agencies and enterprises.

Special Property Valuation: Reduces property taxes by up to 95% for certain sectors, including chemicals, polymer metals, data centers and aviation.

Manufacturing Investment Credit: Offers a tax credit of up to 60% of the corporate net income tax base on qualified investments in an eligible manufacturing facility.

Governor’s Guaranteed Work Force Program: Offers up to $2,000 per employee to eligible new and ex- panding companies that create at least 10 net new jobs within a 12-month period

EDCs

West Virginia Economic Development

westvirginia.gov

Charleston Area Alliance

charlestonareaalliance.org

Huntington Area Development Council

hadco.org

HIGHLIGHTED PROGRAM OR INITIATIVE

West Virginia BusinessLink offers one place for small business owners and entrepreneurs to find resources to support their business. Services include business planning, loans, co-working, accelerators, marketing and sales assistance, startup assistance and product development.

BIG DEALS

  • CS Global Group/ADO Industries announced its first
  • U.S. manufacturing plant and 47 new full-time jobs in Moundsville.
  • Technologies and Materials (TeMa) North America announced a $7 million expansion and 15 new jobs in Kearneysville.
  • DataRobot announced the opening of an office in Morgantown.
  • Toyota Motor Manufacturing announced in February 2021 a $210 million expansion and 100 jobs at its facility in Buffalo.
  • Sheetz announced in March 2021 it will build a $2 million distribution center and create 34 jobs in Kearneysville.
  • N3, part of Accenture, announced in April 2021 an expansion and 100 new jobs in Charleston.

BIG COMPANIES

  • Hino Motors Manufacturing USA 
  • Proctor & Gamble
  • Toyota
  • Mylan Pharmaceuticals 
  • Murray American Energy 
  • Amazon
  • TeleTech (TTEC) 
  • ResCare

No 42: West Virginia

No. 42

West Virginia

Taxation and Regulations
Workforce Quality
Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
Taxation and Regulations

  • State Corporate Income Tax Rate: 8.70%
  • Highest Personal Income Tax Rate: 6.50%

Workforce Quality

  • % with High School diploma or more: 82.2
  • % with Bachelor’s degree or more: 17.1
  • % with Advanced degree or more: 6.7
  • Patents per 100K: 6.48
  • % of Employed Represented by Unions: 16.5

Quality of Life

  • Hopsitals per 10K: 0.314
  • Elementary/Secondary Schools per 1000 people: 0.44
  • Violent Crimes per 100K: 279.5
Key Companies
  • International Coal Group Inc.
  • MTR Gaming
  • United Bankshares
Other Highlights
  • West Virginia fell 8 spots from #34 in 2010 to #42 in 2011 — the state took #37 in 2009
  • West Virginia ranks 22nd in state debt per capita with $3578

Sources:
TaxFoundation.org
Statemaster.com
Bureau of Labor Statistics
U.S. Census Bureau
U.S. Patent and Trademark Office
The National Center for Public Policy and Higher Education