REDP: Regional Economic Development Partnership

Regional Economic
Development Partnership
1100 Main Street, 3rd Floor
P.O. Box 1029
Wheeling, WV 26003
Phone: 304.232.7722
Fax: 304.232.7727
Email: info@redp.org

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RED is a division of Ohio Valley Industrial and Business Development Corporation (OVIBDC). Copyright © 2017 Regional Economic Development Partnership

RED Business Benefits Brochure
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State of West Virginia Tax Incentives

Corporate Headquarters Credit:
Companies that relocate their corporate headquarters are eligible for tax credits. If 15 new jobs are created, the credit is 10 percent of the adjusted qualified investment. The credit increases to 50 percent if 50 or more jobs are created.

Economic Opportunity Credit:
Offsets 80 percent of taxes for up to 13 years. Minimum job requirement: 20.

“Five-for-Ten” Program:
Provides a tax incentive to businesses that make qualified capital improvements of at least $50 million to an existing base of $100 million or more. It assesses the new capital addition at a salvage value of 3 percent for the first 10 years.

Manufacturing Investment Credit:
Allows a 50 percent corporate net income tax credit and franchise tax credit based on investment with no new job creation required.

Manufacturing Sales Tax Exemption:
Materials and equipment purchased for direct use in manufacturing are exempt from the 6 percent state sales and use tax.

Strategic R&D Credit:
Allows for up to 100 percent tax offset for R&D projects. R&D expenses are exempt from sales tax.

Sunny Day Fund:
The Governor’s Contingency Fund now contains funds specially earmarked for economic development projects.

Warehouse “Freeport” Tax Exemption:
Goods in transit to an out-of-state destination are exempt from "ad valorem" property taxes when warehoused in West Virginia.

West Virginia Capital Company Credit:
Investors in qualified West Virginia capital companies are entitled to a state tax credit equal to 50 percent of their investment. Capital companies must have a capital base of at least $1 million but not greater than $4 million. The state has authorized $6 million in credits.

West Virginia Development Office
1900 Kanawha Blvd. E.
Charleston, West Virginia 25305-0311
Telephone: (800) 982-3386