The
West Virginia Development Office
offers many incentive packages.
We would like to highlight the following state and local efforts:
Financial Assistance and Tax Incentives
The
State of West Virginia
offers a variety of financial incentive programs and tax incentives
to encourage the location of business and industry.
The
West Virginia Economic Development Authority
administrates these state programs.
Also available are local incentives based on the number of new jobs created.
Employee Training
The
State
offers several programs to assist new and expanding businesses in their training needs.
A combination of customized training for a company's specific need and statewide
vocational training systems provide trained workers.
Development Staff
Upshur County has a full time development staff to recruit, encourage
and assist new businesses to locate in our county.
Also, the development office has an aggressive retention and expansion
program to assist existing businesses.
Tax Increment Financing (TIF)
In 2002, Amendment One to the West Virginia Constitution was ratified
allowing the use of
tax increment financing (TIF) by
property taxes to fund economic development and job creation in the state. This
amendment was implemented by the West Virginia Tax Increment Financing Act
passed by the West Virginia State Legislature during the 2002 legislative session and
revised by the 2004 West Virginia Legislature.
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