Business Climate
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The cost of doing business in West Virginia is generally 14% lower than the U.S. average – Moody’s 2014
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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
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West Virginia has not raised general business or consumer taxes in 18 years
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Pro-growth tax reforms, including reducing the corporate net income tax rate to 6.5% and eliminating the business franchise tax
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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
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Overall Workers’ Compensation rates have declined significantly, by up to 60%, since the privatization of the system in 2006
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The state offers a variety of competitive incentives and grants
Source: AEP