Finance
New and expanding businesses can learn about any of the innovative financial incentive programs listed here by contacting the West Virginia Development Office (WVDO).
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.
Tax Credit Overview
Economic Opportunity Credit: Available to qualified businesses that make a qualified investment in a new or expanded business. The credit is also available for qualified small businesses and headquarters relocation.
Manufacturing Investment Credit: For manufacturers that make qualified capital investments in an industrial facility.
Strategic R&D Credit: For businesses engaged in qualified research and development activities. The credit may be refundable in some cases.
Utilities
Business leaders from throughout West Virginia cite low utility costs among their top reasons for choosing the state as a destination. West Virginia's low rates greatly contribute to the high profitability enjoyed by many of today's leading industries.
| State | Electricity | Natural Gas | ||
| Commercial | Industrial | Commercial | Industrial | |
| California | $28.91 | $20.94 | $7.71 | $5.42 |
| Connecticut | $27.27 | $21.44 | $6.46 | $5.81 |
| Delaware | $17.55 | $10.93 | $6.72 | $4.84 |
| District of Columbia | $22.07 | $13.89 | $9.38 | N/A |
| Florida | $18.48 | $14.18 | $7.06 | $5.33 |
| Georgia | $19.28 | $12.03 | $6.90 | $4.75 |
| Indiana | $17.67 | $11.16 | $5.60 | $4.88 |
| Kentucky | $14.65 | $8.83 | $6.42 | $4.63 |
| Maine | $30.12 | $20.19 | $5.65 | $3.82 |
| Maryland | $19.38 | $12.13 | $7.82 | $7.61 |
| Massachusetts | $27.06 | $24.03 | $8.26 | $7.17 |
| Michigan | $23.36 | $14.93 | $4.62 | $3.73 |
| New Hampshire | $31.83 | $26.87 | $8.06 | $5.84 |
| New Jersey | $26.89 | $25.14 | $5.72 | $4.97 |
| New York | $35.50 | $15.75 | $7.55 | $5.96 |
| North Carolina | $18.67 | $13.43 | $7.39 | $5.15 |
| Ohio | $21.93 | $12.82 | $6.74 | $4.91 |
| Pennsylvania | $22.80 | $16.50 | $7.46 | $4.86 |
| Rhode Island | $28.95 | $25.69 | $8.24 | $5.18 |
| South Carolina | $18.59 | $10.96 | $7.50 | $4.79 |
| Tennessee | $18.69 | $11.98 | $6.58 | $4.90 |
| Vermont | $31.20 | $21.44 | $6.41 | $2.95 |
| Virginia | $16.08 | $11.42 | $7.31 | $5.05 |
| West Virginia | 16.13 | $11.03 | $6.16 | $4.18 |
| U.S. Average | $21.52 | $13.60 | $6.57 | $4.71 |
