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Explore State-Sponsored Financial Incentives and Support Services

State of West Virginia Programs

New and expanding businesses in West Virginia can tap into a range of innovative financial incentive programs offered by the state. The West Virginia Development Office provides tailored assistance to guide businesses through each stage of development, from initial planning to execution. This support includes detailed project assessments, site selection assistance, and strategic financial planning to ensure businesses can thrive in West Virginia’s dynamic economic environment.

  • Site Selection Assistance
  • Comprehensive Project Assessments
  • Tailored Guidance and Support
  • Strategic Financial Planning
West Virginia
Contact the West Virginia Development Office
Incentives and Financing

State of WV Programs

New and expanding businesses can learn about any of the innovative financial incentive programs listed here by contacting the West Virginia Development Office.

For a preliminary discussion regarding any potential project, contact the West Virginia Development Office as early as practical in the planning cycle. An industrial development representative will be assigned to review each project in detail. West Virginia Development Office representatives will gladly arrange visits to the state to locate the best site for your business activity. For a detailed prospectus, outline your requirements using a pro forma business presentation similar to proposals made to other financial institutions. Financial and technical experts at the West Virginia Economic Development Authority, which is the state’s financing agency, will initiate a review to help structure the best strategy for your project.

For more details on these and other state programs, contact the West Virginia Department of Commerce at 800.982.3386 or 304.558.2234. Please also reference West Virginia’s Development Assistance (PDF).

The West Virginia Economic Development Authority can provide up to 45 percent for financing fixed assets by providing low-interest, direct loans to expanding state businesses and firms locating in West Virginia. Loan term is generally 15 years for real estate intensive projects and 5 to 10 years for equipment projects. Loan proceeds may be used for the acquisition of land, buildings and equipment. Working capital loans and the refinancing of existing debt are not eligible.
The West Virginia Economic Development Authority provides a loan insurance program through participating commercial banks to assist firms that cannot obtain conventional bank financing. This program insures up to 80 percent of a bank loan for a maximum loan term of four years. Loan proceeds may be used for any business purpose except the refinancing of existing debt.
This program provides for customized financing through federal tax-exempt industrial revenue bonds. Of the state’s bond allocation, $59,757,600 is reserved for small manufacturing projects, $17,073,600 for qualifying projects in Enterprise Communities, and $93,904,800 for exempt facility projects.
The Economic Infrastructure Bond Fund can be used for financial assistance to public utilities, county development authorities and private companies for infrastructure improvements to support economic development projects. Please contact the West Virginia Development Office Community Development Division for applications at 800-982-3386 or 304-558-2234.
West Virginia Jobs Investment Trust (JIT) is a public venture capital fund created to develop, promote and expand West Virginia’s economy. The program makes investment funds available to eligible businesses, thus stimulating economic growth and providing or retaining jobs within the state.
Incentives and Financing

Additional Resources

Incentives
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West Virginia Small Business Development Center Loans

The West Virginia Small Business Development Center provides vital support to business owners by offering the necessary resources to achieve success.

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State of West Virginia Tax Incentives

West Virginia provides competitive tax incentives, including credits and exemptions, to reduce startup and operating costs for new and expanding businesses.

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WV Fact Sheets & Data

Explore our detailed West Virginia Fact Sheets & Data, offering vital statistics and analyses on demographics and economic conditions, essential for stakeholders seeking to make informed decisions about the state.

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