new business ventures in West Virginia and advance the development of technologies for renewable energy , health care and industries of the future . He noted that alongside LG ’ s jobs commitment , an investment fund is being created with plans to invest $ 700 million in West Virginia over the next five years to grow these businesses .
While this is welcomed news on multiple levels , it is particularly exciting because it coincides with a $ 300 million investment being made at the I-79 Technology Park in Fairmont by the National Oceanic and Atmospheric Administration ( NOAA ). The NOAA investment will substantially increase the infrastructure at the park that currently supports the agency ’ s supercomputing center and its three satellite ground station operations .
This expansion will position West Virginia to potentially participate in the multibillion-dollar expansion of the commercial climate and weather industry being driven by the data collection and high-performance computing assets NOAA operates at the park . The strategic initiative with LG could be just the catalyst to make West Virginia the epicenter of this knowledge sector expansion resulting in a truly transformative economic impact . on average , tourism-generated tax dollars contributed approximately $ 715 per household to maintain their current government services .
Total Workforce : 72,143 GDP Contribution : $ 3.4 million
* Top Accommodation & Food Service Employers : 1 . GMRI , Inc . 2 . J . W . Ebert Corporation 3 . Gino ’ s Distributing , Inc . 4 . Greenbrier Hotel Corporation 5 . PNGI Charles Town Gaming , LLC
Total Workforce : 16,979
Top High-Tech Employers : 1 . Federal Bureau of Investigation 2 . National Energy Technology Laboratory 3 . National Oceanic & Atmospheric Administration 4 . National Institute for Occupational Safety & Health 5 . Department of Defense
Tourism
By Chelsea Ruby , Cabinet Secretary , West Virginia Department of Tourism
Tourism continues to be a bright spot in the state ’ s economy with its impact growing each year . Last year , annual economic revenue exceeded $ 7 billion for the first time in West Virginia ’ s history . With investments in tourism advertising and recreational infrastructure , the industry has grown more than 30 % since 2016 , despite a global pandemic .
The world has taken note of the transformation occurring in the Mountain State . West Virginia has received recognition from nearly every major travel publication in the world including National Geographic , TIME magazine , USA Today , Condé Nast Traveler and CNN . Visitors are taking note of the popularity and flocking to the state , resulting in increased visitation to each county .
Traveler spending in West Virginia contributes significantly to the state ’ s economy and has provided an enhanced revenue stream for communities across the state . Recent data shows annual food and beverage spending topped $ 1.4 billion , and lodging spending surpassed $ 800 million for the first time ever , led by a 275 % increase in short-term rental revenue since 2019 .
Visitor spending generated an impressive $ 887 million in tax revenues last year , with $ 520 million going directly to both state and local governments . That means
Editor ’ s Note : Gross Domestic Product ( GDP ) and employment data was supplied by the Regional Research Institute at West Virginia University with the help of Caroline Welter and Heather Stephens and was sourced from U . S . Bureau of Economic Analysis and Lightcast using NAICS codes . For this data , the energy sector includes utilities , mining , quarrying and oil and gas extraction . Tourism includes arts , entertainment , recreation , accommodation and food service . GDP is not available for the high-tech industry , and the employment data is reported using the classification from Dorfman , Partridge and Galloway . Please contact our staff for further information .
* This top employer data was supplied by WorkForce West Virginia using NAICS codes .
** GDP and employment data for broadband and forest products industries were compiled by the contributing authors for each section . • �
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