Business Climate

  • The cost of doing business in West Virginia is generally 14% lower than the U.S. average – Moody’s 2014

  • The state’s 4.5% increase in gross state product was the third-highest rate of growth of any U.S. state in 2011, with real GDP totaling $55.8 billion

  • West Virginia has not raised general business or consumer taxes in 18 years

  • Pro-growth tax reforms, including reducing the corporate net income tax rate to 6.5% and eliminating the business franchise tax

  • Closed its 2013 fiscal year with a surplus of roughly $90 million – the 8th year in a row with a surplus – without a tax increase

  • Overall Workers’ Compensation rates have declined significantly, by up to 60%, since the privatization of the system in 2006

  • The state offers a variety of competitive incentives and grants

Source: AEP

Post Office Box 298 | 1657 East Fourth Avenue | Williamson, WV 25661 | p (304) 235-0042

© 2017 Mingo County Redevelopment Authority