State Resources
West Virginia Business Resources | ||||
Despite West Virginia’s mountainous terrain, agriculture made up the majority of the West Virginian economy until the twentieth century. Later, the abundance of resources such as coal, oil, natural gas, and hardwood forests fueled an industrial expansion that shifted the economy’s focus from agriculture to the extraction of natural resources. The first and second world wars triggered a boom in the manufacturing industry, which then became the dominant industry. West Virginia’s principal manufactures today are steel, chemicals and glass. The state’s coal industry ranks second among all states and contributes 15% of the country’s total coal production. The service industry has been growing recently, though not to the extent of many other states. Within the service sector, tourism is strong featuring dozens of state parks and national forests state. However, manufacturing and mining are still the pillars of the state’s economy. | ||||
Business Data | ||||
Per Capita Real GDP | $24,748 Rank: 49/50 (2006) | |||
Population | 1,808,340 Rank: 37/50 (2000) | |||
Per Capita Personal Income | $27,897 Rank: 49/50 (2006) | |||
Unemployment Rate | 4.40% Rank: 23/50 (2008) | |||
Business Tax Climate Index | Rank: 37/50 (2008) | |||
Corporate Tax Rate | 8.5% | |||
Individual Tax Rate | 3% - 6.5% | |||
Sales Tax Rate | 6% | |||
Business Tax Climate Index | ||||
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State Information | ||||
Abbreviation | WV | |||
Capital | Charleston | |||
Nick Name | Mountain State | |||
State Web Site | http://www.wv.gov | |||
Motto | Mountaineers are always free | |||
Top 5 Export Partner Countries | Canada, Belgium, Japan, China, Brazil | |||
Top 5 Export Merchandise | Primary Metals Sales Chemicals Sales Computers and Electronic Products Manufacturing Primary Metals Manufacturing Machinery Manufacturing | |||
Major Cities | Charleston, Huntington | |||
GDP | ||||
Total Gross Domestic Product (USD Millions) | $57,711.00 (2007) | |||
Per Capita Real GDP (USD) | $24,929.00 Rank: 50 (2007) | |||
Population Stats | ||||
Population | 1,814,468 Rank: 37 (2008) | |||
Age Distribution | ||||
Under 18 Population | 402,393 | |||
Under 18 Percent of Total Population | 22% | |||
65 and older Population | 276,895 | |||
65 and older Percent of Total Population | 15% | |||
Gender Distribution | ||||
Male Population | 48.6% | |||
Female Population | 51.4% | |||
Non-English Speaker (at home) | 38,639 | |||
Net International Immigration | 3,691 | |||
Birth Rate | 11.5% | |||
Percent of People Under Poverty Level | 18% | |||
Rank | 4 | |||
Expenditure | ||||
Per Capita State Spending | $18,920 | |||
Rank | 3 | |||
Energy Expenditures per Person | $4,315 | |||
Expenditures of State and Local Government Employee-Retirement Systems | $628,719 | |||
Revenue | ||||
Personal Income | $36,483 | |||
Rank | 49 | |||
State Internal Revenue Collection | $6,521,950 | |||
Rank | 44 | |||
Cash and Deposits by State Government | $17,105 | |||
Per Capita State Tax Collection | $2,522 | |||
Rank | 16 | |||
Education | ||||
High School Graduation Rate | 72.7% | |||
Rank | 26 | |||
Percent of Population with a Bachelor's Degree | 10.2% | |||
Rank | 50 | |||
Percent of Population with an Advanced Degree | 6.6% | |||
Rank | 48 | |||
Largest Universities | West Virginia University Fairmont State University Marshall University | |||
High School Graduation Rate | 72.7% | |||
Logistics | ||||
Public Road Length (Mile) | 37,054 (2005) | |||
Gas Tax Rate (%) | 31.5% | |||
Highway Planning and Construction (USD Thousands) | 355,794 | |||
Number of Public Airports | 35 | |||
Main Airports | ||||
Ports | ||||
Weather | MapView Larger Map | |||
State Business Links | ||||
The Charleston Gazette | ||||
http://www.wvgazette.com | ||||
Secretary of State | ||||
West Virginia Secretary of State | ||||
http://www.wvsos.com | ||||
Office responsible for corporate registration, business regulation, and supervision of elections. | ||||
Small Business Administration | ||||
West Virginia Small Business Administration | ||||
http://www.sba.gov/localresources/district/wv/index.html | ||||
SBA's West Virginia District Office is located downtown Clarksburg, an area of industry and growing small businesses. Clarksburg is a unique community rich with economic growth, heritage, and family recreation. In 1877, Clarksburg narrowly missed becoming the capital of West Virginia. | ||||
Top 10 Business Links | ||||
Bureau of Business & Economic Research (BBER) | ||||
http://www.be.wvu.edu/bber/index.htm | ||||
Part of the West Virginia University College of Business and Economics, the BBER is a research oriented center aimed at aiding both state and regional businesses. Its website hosts a wealth of information, from research publications to economic forecasts and public finance. Publications can be accessed online for free, or ordered for a fee. | ||||
Business for West Virginia | ||||
http://www.business4wv.com/b4wvpublic/ | ||||
An online portal for business services in West Virginia, Business4wv.com aims to aid both local and out-of-state companies who wish to establish themselves in the state. Services offered include financial aid, business filings, and several publications for start-ups. | ||||
US Export Assistance Center for West Virginia | ||||
http://www.buyusa.gov/westvirginia/ | ||||
This branch of the Department of Commerce specializes in helping small to medium sized companies, in West Virginia, develop and execute exporting strategies. Fees vary and are based on the service being provided. | ||||
West Virginia Chamber of Commerce | ||||
http://www.wvchamber.com/ | ||||
Represented largely by small businesses, the West Virginia Chamber of Commerce is a general business organization, representing the interests of SMBs in the state. It offers a range of services, including advocacy, and research on state policy and legislation. The website also contains a variety of resources and links for business assistance. | ||||
West Virginia Development Office (WVDO) | ||||
http://www.wvdo.org/ | ||||
The office is dedicated to promoting West Virginia as an attractive business destination, for both international and national companies. It contains a library of state data, including demographics, natural resources, and technological assets. The site also provides a listing of available business sites, as well as various aids for international firms. | ||||
West Virginia High Technology Consortium (WVHTC) Foundation | ||||
http://www.wvhtf.org/ | ||||
The WVHTC Foundation is a non-profit organization that aims to foster the growth of a state and nation-wide high-tech business sector. It primarily offers support and guidance for firms initially venturing into the sector. Other services include workforce education, partnership opportunities, and support for international expansion. | ||||
WorldTradeWV.com | ||||
http://www.worldtradewv.com/ | ||||
WorldTradeWV.com is a resource site for West Virginia businesses, who wish to expand into international markets through exporting. It offers export assistance, and numerous links to other sources of information and assistance for global expansion. | ||||