Financing

FINANCING

West Virginia’s 5.1 percent increase in gross state product was the third-highest rate of growth in economic production of any U.S. State in 2014, with real GDP totaling $68.04 Billion. West Virginia’s highest priority is meeting your company’s needs by providing aggressive development assistance in the form of tax credits and financing programs. This development assistance can reduce startup and operating costs and provide for enhanced productivity.

ASSISTANCE INCENTIVES & PROGRAMS

DIRECT LOAN PROGRAMS
Can provide up to 45 percent in financing fixed assets by providing low-interest, direct loans to expanding state businesses and firms locating in West Virginia

INDIRECT LOANS
A loan insurance program through participating commercial banks to assist firms that cannot obtain conventional bank financing

INDUSTRIAL REVENUE BONDS
Customized financing through federal tax-exempt industrial revenue bonds

WEST VIRGINIA INFRASTRUCTURE & JOBS DEVELOPMENT COUNCIL
Financial assistance to public utilities, county development authorities and private companies for infrastructure improvements to support economic development projects

LINKED DEPOSIT PROGRAM
For-profit state employers with 50 or fewer employees and gross annual receipts of $5 million or less to apply for a linked deposit loan with an interest rate of 1 percent above published New York Prime, up to $250,000

WEST VIRGINIA JOBS INVESTMENT TRUST
A public venture capital fund created to develop, promote and expand West Virginia’s economy through investment funds available to eligible businesses