West Virginia had a 2.6 percent increase in gross state product in 2017, with current dollar GDP totaling $76.8 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
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 $2 million or less to apply for a linked deposit loan with an interest rate of 5 percent below current market rates.
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