Economic Incentives & Tax Credits
High impact incentives for small businesses in West Virginia
West Virginia’s cost of doing business is among the lowest in the country, ranked #10 for best business climate in Business Facilities 2021 State Rankings Report. Our prime location puts you close to your supply hubs, distribution bases and customer markets. West Virginia is within a day’s drive of half the U.S. population and a third of the Canadian market. In addition to being a good place for business, “wild and wonderful” West Virginia is a great place to play, raise a family and build a life. The state provides high quality of life, with neighborly small towns and four seasons of recreational opportunities, including white water rafting, golfing, skiing, hiking and biking. West Virginia places importance on training and supporting the next generation of workers. With a variety of programs designed to assist employees, employers, entrepreneurs, and sole proprietors, you’ll find everything you need for a successful career or a thriving company.
Top tax incentive programs for small and medium-sized businesses in West Virginia
Corporate Headquarters Credit
Companies that relocate their corporate headquarters to West Virginia are eligible for tax credits if 15 new jobs (including relocated employees) are created within the first year.
Competitive Improvement Program (CIP)
West Virginia's Competitive Improvement Program helps existing businesses that may not be in a hiring mode train and/or retrain their employees, reimbursing up to fifty percent, not to exceed two thousand dollars per trainee, of training cost
Manufacturing Investment Credit
A tax credit is allowed against up to 60% of corporate net income tax and based on qualified investment in eligible manufacturing property, with no new job creation required.
West Virginia Jobs Investment Trust
JIT is a public venture capital fund created to develop, promote and expand West Virginia’s economy by making investment funds available to eligible businesses, thus stimulating economic growth and providing or retaining jobs within the State.
Governor's Guaranteed Work Force
The Governor's Guaranteed Work Force provides training and technical assistance to support effective employee training strategies.
Economic Opportunity Jobs Creation Tax Credit
A qualified business creating less than 20 new jobs for a regular business & less than 10 new jobs for a qualified small business, is eligible to receive a tax credit of $3,000 per year for each new job created, for a period of 5 years.
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Subcity empowers small businesses, CPAs, and finance professionals to identify and apply for economic incentives and tax credits. Each year, over $100 billion is allocated for incentives across local, state, and federal programs in the U.S. Unfortunately, a significant portion of this money goes unclaimed or to large corporations with teams of tax attorneys and legal experts.
Subcity utilizes a comprehensive database of incentives to connect small businesses with the programs that were designed to help them create jobs, invest in their communities, and grow their business. Subcity charges a 10-20% fee for the programs they successfully secure, ensuring zero risk for clients as payment is contingent on results. Subcity is on a mission to democratize access to capital for America’s small businesses and has already delivered tens of millions of dollars in tax incentives for clients across the country.