CEO Guide to Site Selection

West Virginia

MOVING UP IN THE MOUNTAIN STATE

Over the past decade, the Mountain State has elevated itself from the economic woes of the declining coal industry to a state on the forefront of economic development. That momentum has also helped the state recover in the wake of the Covid-19 pandemic. Between January 2021 and late 2022, the Office of Economic Development reported at least 18 significant announcements, representing more than $3.6 billion in investments and morethan 3,800 created and retained jobs. Several international companies have expanded here in the past year, including Papier-Mettler (Germany) and Fanti (Italy).

“I’ve said it before, and I’ll say it again, you’ll never find more dedicated, hardworking and productive employees than those in West Virginia....I couldn’t be happier that all kinds of world-class businesses like Papier-Mettler are setting up shop or expanding operations in West Virginia. Our rocket ship ride that I promised is continuing every day, and all West Virginians should be incredibly proud.”
Jim Justice
Governor

TAXES

0 %

top corporate income tax

# 0

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

EDUCATION

0 %

of adults 25 years of age and older graduated high school

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

Morgantown Area Partnership

morgantownpartnership.com/economic-development

HIGHLIGHTED PROGRAM OR INITIATIVE

The Resilient West Virginia coalition is a group of state agencies and organizations working to build momentum in securing the future for Appalachia. It aims to create a national security and economic security growth fluster in the state’s southern and central energy communities, capitalizing on the skills of many of the region’s veterans to support the sector.

BIG DEALS

  • German packaging manufacturer Papier-Mettler announced in June 2022 a $48 million plant and 100 new jobs in Moorefield.
  • Clearway Energy Group announced in May 2022 it reached commercial operations at its Black Rock wind farm, which spans Grant and Mineral counties.
  • Metal alloy manufacturer Veloxint announced in April 2022 a new location and 200 new jobs in Triadelphia.
  • Italian manufacturer Fanti USA announced in April 2022 a new production facility in Weirton. The $30 million project will create 40 jobs.

BIG COMPANIES

  • CAMC Health System
  • City Holding Company
  • United Bankshares
  • WesBanco
  • West Virginia United Health System

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


Roundtable

Strategic Planning Workshop

1:00 - 5:00 pm

Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process

Executives expressed frustration with their current strategic planning process. Issues include:

  1. Lack of systematic approach (70%)
  2. Laundry lists without prioritization (68%)
  3. Decisions based on personalities rather than facts and information (65%)

 

Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns.  They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning.  Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process.  This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented.  If you are ready for a Strategic Planning tune-up, select this workshop in your registration form.  The additional fee of $695 will be added to your total.

To sign up, select this option in your registration form. Additional fee of $695 will be added to your total.

New York, NY: ​​​Chief Executive's Corporate Citizenship Awards 2017

Women in Leadership Seminar and Peer Discussion

2:00 - 5:00 pm

Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations. 

Limited space available.

To sign up, select this option in your registration form. Additional fee of $495 will be added to your total.

Golf Outing

10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS

General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.

The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.

To sign up, select this option in your registration form. Additional fee of $295 will be added to your total.