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Industry Forecasting
Outlook
West Virginia’s Future
JENNIFER JETT PREZKOP
West Virginia’s economic woes have
been the cause for much concern for several
years. With a population that is both aging
and shrinking, a major drug epidemic
and the challenges facing the state’s ex-
traction industry, it’s no wonder the state
faced a $500+ million budget deficit for
2017 and is facing an even larger revenue
shortfall for 2018.
According to “West Virginia Economic
Outlook 2017-2021,” published by the
West Virginia University (WVU) College
of Business and Economics, the slight
economic upturn expected over the next
five years will provide some relief. While
the state’s economic health will rely heavily
on that of the U.S. and the broader global
economy, the report forecasts a continua-
tion in the state’s emergence from the re-
cession at a recovery pace of 0.6 percent
per year through 2021.
In order for West Virginians to help spur
job and economic growth in the state, it’s
important to understand where we cur-
rently are and the challenges we are facing.
The information in this piece, taken from
“West Virginia Economic Outlook 2017-
2021,” will provide abbreviated insight
into West Virginia’s population, employ-
ment, exports and income rates and will
look at eight specific industries in which
the most growth is expected over the next
five years.
Editor’s Note: The information and
graphics in this article have been taken
from “West Virginia Economic Outlook
2017-2021,” published in October 2016.
For more information or to read the report
in full, visit business.wvu.edu/centers/bu-
reau-of-business-and-economic-research/
economic-outlook.
POPULATION
Despite the fact that West Virginia gained more than 26,500 residents between 2005-2015, 32 of
the state’s 55 counties actually registered outright losses in population. The counties that have lost
population have done so due to natural population decline and/or negative net migration flows.
Over the next five years, 19 counties are expected to see their population numbers remain stable
or increase during the outlook period. Berkeley, Jefferson and Monongalia counties will be West
Virginia’s fastest-growing counties at 1.3, 1.1 and 0.9 percent, respectively.
Graph 5.1
Annual Population Growth, 2005-2015
SOURCE: U.S. Census Bureau
76
WEST VIRGINIA EXECUTIVE
Graph 5.2
Forecast Annual Population Growth,
2016-2021
SOURCE: WVU BBER County Econometric Model