The State of West Virginia, and particularly Mingo County, have thrived for years on traditional energy economies such as coal and natural gas. A changing global economy has prompted emerging value-added sectors such as renewable energy, distribution, and manufacturing, and the Mingo County Redevelopment Authority is here to assist new and existing businesses and industry in taking advantage of the state’s proven business climate.
Advantages of Doing Business in West Virginia
- According to Moody’s, West Virginia has the 4th lowest cost of doing business in the country, 14% lower than the US average.
- West Virginia has a proven, dedicated and skilled workforce.
- West Virginia’s manufacturing employee turnover rate is among the lowest in the nation.
- West Virginia’s utility rates are among the lowest in the nation.
- West Virginia is #1 in exporting electricity and coal to the nation.
- West Virginia’s cost of living is among the lowest in the nation.
- West Virginia’s pro-growth tax reform includes phasing out of the Business Franchise Tax by 2015, and a reduction of the Corporate Net Income tax to 6.5% by 2014.
- West Virginia is one of only 18 states that have not had to borrow federal funds to pay unemployment compensation benefits.
- Workers’ Compensation rates have declined significantly since the privatization of the system in 2006.
To learn about all that West Virginia has to offer your business, watch this short video titled “Business At The Speed of Light”, produced by the WV Department of Commerce.