About the State

West Virginia is located in the heart of Appalachia, strategically located and connected to major metropolitan areas up and down the Eastern U.S. and Canada. Learn how our low cost of living and pro-business tax climate coupled with a high quality of life make life better here.

Key Industries

West Virginia's diverse economy has moved beyond our history of resource extraction to include a robust array of products and services. Learn about the key industries that have taken a foothold here and learn why leading companies make their home in the Mountain State.

Business Assistance

The West Virginia Development Office works hard to make the process of locating in West Virginia smooth and seamless. Our team walks with businesses every step of the way to locate a new site, expand facilities, export goods, train to employees, and much more.

Global Engagement

West Virginia is home to more than 130 businesses representing 27 countries from around the world, and West Virginia businesses export goods and services to more than 95 countries. Learn how our international team works out of three worldwide office to foster global engagement.

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Newsroom

6 things you should know about West Virginia's business climate

Thursday, February 02 2017

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Want to know what top U.S. and International companies already know about doing business in West Virginia? Here are six fast facts.


1. West Virginia has not had a general tax increase in more than two decades.

While other states hiked taxes, we cut ours. During the past eight years, West Virginia has lightened the business tax burden by more than $850 million.

2. West Virginia's cost of doing business is one of the lowest in the country.

 We scored an enviable seventh place ranking in CNBC’s America’s Top States for Business 2015 “cost of doing business” category. CNBC judges each state’s cost of doing business based on factors such as tax climate, incentives, utilities, wages, and rental costs for office and industrial space.

3. West Virginia's business climate is well regarded by the Tax Foundation.

According to the Tax Foundation’s 2017 State Business Tax Climate Index, West Virginia is rated 18th nationally – better than any neighboring state.

4. West Virginia's workers compensation rates continue to fall.

The state’s 12th consecutive premium reduction took effect Nov. 1, 2016. West Virginia employers have seen savings of more than $352 million since the program was privatized in 2006.

5. The Business Franchise Tax was eliminated January 1, 2015.

Going, going, gone! From the time the first reduction was made, taxpayers have saved more than $575 million.

6. Since, 2005, West Virginia has seen over $13 billion in new business investments.

Companies such as Amazon, Procter & Gamble, Toyota, Pratt & Whitney, Lockheed Martin and Macy’s are opening or expanding operations in West Virginia.


Give us a look. You’ll be in good company. Connect with a business navigator today



 

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