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
TAXES
top corporate income tax
on the Tax Foundation’s State Business Tax Climate Index ranking
EDUCATION
of students graduated high school in 2019
of adults age 25 and older have a bachelor’s degree or higher
UNEMPLOYMENT RATE
RIGHT TO WORK STATE
Yes
QUALITY OF LIFE
POPULATION GROWTH
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
Based on CEO Survey by ChiefExecutive.net
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Taxation and Regulations
Workforce Quality
Quality of Life
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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