West Virginia Executive Spring/Summer 2020 | Page 76

International
Investment in the
Mountain State
KATLIN SWISHER, PH.D.
Foreign investment is an important and growing sector
of the Mountain State economy, and today it benefits from
investments from 30 countries representing 136 companies
that employ approximately 30,000 West Virginians. The West
Virginia Development Office’s (WVDO) International Division
works to ensure the state receives consideration when investors
are reviewing location options because international companies
that invest in the U.S. are typically good corporate citizens
that offer quality jobs with competitive wages and benefits.
“Whether we are marketing West Virginia
ExEdge
In 2018-2019,
the top five
countries
West Virginia
exported to
were Canada,
Ukraine,
Netherlands,
India and
China.
Source: www.
census.gov/
foreign-trade
to domestic or international companies, we know
from both firsthand experience and several studies
that West Virginia offers a profitable location for
companies in specific industries,” says Steve Spence,
director of the international division. “We directly
contact quality companies in our target sectors and
schedule face-to-face meetings, work in partner ship
with industry associations to meet their member
companies, exhibit in trade shows, request referrals
from existing investors, organize seminars and
use direct mail, social media, content marketing
and other methods to tell the West Virginia story
to potential investors.”
These target sectors are profitable industries that
include aerospace, automotive, building materials, chemicals and
metalworking. The WVDO’s Business and Industrial Development
Division has had success in attracting companies in
the information technology sector in particular, including
INFOR and Resolver in Charleston, Leidos in Morgantown
and Sparksoft in Fairmont.
According to Spence, West Virginia is an attractive location
for international investment because the cost of doing business
is low and the availability of a local skilled workforce is high.
“Companies select locations where they are confident they
can be profitable in terms of operating costs like taxes, wages
and utilities as well as transportation costs to reach their customers
and suppliers,” he says. “A skilled workforce is always
a consideration too. Companies need to know they can hire
locally and that there are schools, universities, community and
technical colleges, training facilities and other resources that
ensure a steady pipeline of talent to meet their long-term needs.”
As part of the West Virginia Invests grant program that
covers the basic tuition expenses for in-demand community
and technical college degrees, the WVDO partners with state
schools to develop curricula to help train the workforce and
meet companies’ needs.
“The development office approves that curriculum and
believes it is valuable for creating employable students,” says
Spence. “We are constantly working with both existing companies
and the ones we’re hoping to bring here on what types
of certifications and knowledge employees need to have.”
While West Virginia’s workforce and business climate are
attractive, the state falls short in some areas critical for international
investment. The state’s terrain, in particular, can be
a challenge to sell.
“One of the biggest factors in securing a project is offering
an adequately developed site or industrial building that meets
the client’s needs,” says Spence. “We have a limited number of
larger sites, and the terrain of West Virginia makes it difficult
to offer such sites throughout the state.”
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WEST VIRGINIA EXECUTIVE