Historically, West Virginia has thrived on traditional energy and manufacturing industries such as coal, chemicals and polymers, aerospace, automotive and wood products. All remain valued contributors to the state's economy.
Today, the West Virginia economy is one that also includes innovation-driven, technology-based businesses, piloted by a highly skilled West Virginia workforce.
In biometrics and identification management technology, the state has a high concentration of facilities unmatched anywhere in the world.
More than $13bn in new business investments has come to West Virginia since 2005. A growing number of companies leading the advance in biometrics, biotechnology, information technology and renewable energy now operate in the state. Global companies such as Amazon.com, Toyota, DuPont, Lockheed Martin and Pratt and Whitney have already discovered the advantages of locating in West Virginia.
West Virginia energy business benefits
In energy, West Virginia ranks second in the US in exporting electricity and is playing an increasingly important role in the production of coal, wind power and natural gas. The state has the third-largest wind capacity of any eastern US state and is finding new ways to recover massive natural gas reserves from the Marcellus Shale.
West Virginia is leading the way in finding a balance between our economy and our environment through clean coal technology. West Virginia coal will be a primary source of energy as we transition to the fuels of the future.
Reduced property tax for data-based businesses
For high technology businesses, the state has demonstrated a solid commitment by eliminating certain sales taxes and significantly reducing property taxes for data-based businesses located in West Virginia. The state is a growing location for companies with extensive business services operations.
Chemical and polymer plant facilities
Within chemicals and polymers, West Virginia is home to nearly 150 manufacturing companies that employ approximately 12,800 workers. 50% of the nation's chemical and polymer plants - producing 71% of the products - are within 500 miles, a single day's trucking distance.
West Virginia tourism
Tourism attracts 11 million visitors to West Virginia each year, generating more than $3bn in economic activity for the state. Many visitors, drawn by the state's natural beauty, job opportunities, lifestyle and low cost of living, decide to make West Virginia their home.
Strategic economic development initiatives in West Virginia
In West Virginia, the approach to responsible government has produced a positive business climate and the state is clearing the way for business growth through tax cuts, workers' compensation reform, and investment in university research and other strategic economic development initiatives.
As world markets bounce back, West Virginia is well positioned as the ideal location for new and expanding European companies that want to create good jobs in West Virginia.
Business advantages in West Virginia
West Virginia provides access to:
West Virginia Development Office
1900 Kanawha Blvd., East
United States of America
Tel: +1 304 558 2234
Tel: 800 982 3386 (toll-free)