West Virginia Wins
Victories in the Mountain State
PAIGE KOCOUREK
While much focus is placed on the ways in which West Virginia can improve and develop , it is just as important to identify and promote the various successes the state has experienced in the past few years . The tide is moving in the right direction . The victories are impressive and imperative to the overall well-being and longevity of the Mountain State .
Each win contributes to the overall thriving economy of the state , promoting its attractiveness to investors and new industries .
Many industries have made West Virginia home . These industries — such as manufacturing , aerospace , automotive and energy — require a variety of products or services to thrive , many of which are easily accessible in the state , including cost-effective production , abundant raw materials , an advantageous location and a strong , skilled and loyal workforce .
“ One of the keys to our successes is that West Virginia has some of the most talented workers ,” says Governor Jim Justice . “ When you combine our first-class workforce with the state ’ s access to abundant resources , you truly have a winning combination .”
These resources are catalysts for growth . Business Facilities magazine named West Virginia the 10th best business climate in the U . S ., praising the state for its leadership in emerging technology and biometrics activity . Accolades such as this generate positive press and attention that puts West Virginia on the radar for outside businesses and investors .
International efforts have placed the state on the radar worldwide , leading to multiple foreign investments in the past three years . For example , Gruppo Fanti , an Italian-based metal packaging company , recently opened its first U . S . plant in Weirton , WV , and CS Global Group , a global building and construction services company , chose Moundsville , WV , as its first U . S . plant .
In addition , foreign companies based in West Virginia , like TeMa and Klöckner Pentaplast , are planning expansions , which will have a major impact on the surrounding communities . These outside investments are a significant win for West Virginia and have helped the diversification of the economy and the creation of jobs .
“ There really is no better location to launch or expand a business than here in the Mountain State ,” says Mitch Carmichael , secretary for the West Virginia Department of Economic Development . “ With our pro-business climate and dedication to helping businesses grow and succeed once they ’ re here , we continue to see expansions across the state .”
West Virginia has worked hard , as an entire state , to secure a positive fiscal future . A lot of groundwork has been established to set the tone for forward progress and momentum .
“ Economic development doesn ’ t happen by itself . The change in tide for West Virginia is due to many things , but a few main drivers are the $ 1 billion Rainy Day Fund , fiscal stability , international investors , a workers compensation reform , positive shifts in the right to work legislation , eliminating the business franchise tax , incremental changes to our existing statutory tax credits , a low cost of living and , perhaps most importantly , leadership from the governor , his secretaries and this administration to move West Virginia forward ,” says Carmichael .
Companies like Leidos , Toyota , Procter & Gamble , Intuit and Northrop Grumman have specifically chosen West Virginia as their base for operations . These investments , along with many others , have made an estimated $ 10.72 billion impact in the state since the beginning of 2017 . These industries are central drivers of economic success . While there are other wins not reflected in that number , it gives a good idea of the economic impact seen in the past six years .
36
WEST VIRGINIA EXECUTIVE