Economic Development

These organizations offer funding opportunities (grants, loans, tax credits) to improve the economic vitality of your community through business.

Click on each organization below to expand list of funds, and click on each fund name in red to visit the website.


CommunityWorks in West Virginia

COMMUNITY WORKS IN WEST VIRGINIA

CommunityWorks in West Virginia serves to unite local housing-related agencies and organizations to assure safe and affordable housing. Representing twenty-seven organizations, CWWV provides a variety of services to its members through technical assistance and training, innovative mortgage lending products, and member services support programs including advocacy at the federal and state levels. Loans programs include Premier Loan, Leverage Loan, Rehab Lending, Designer Loan, and Commercial Loans. Visit their website for contact information and to see a list of member organizations.


US Department of Housing and Urban Development

US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

Community Development Block Grants (Non-Entitlement) for States and Small Cities

Eligibility: State-determined eligible units of general local government
Funding used for: To carry out a wide range of community development activities directed toward neighborhood revitalization, economic development, and improved community facilities and services.
Fund description: Federal funding grants
Deadline: Annual.

Community Development Block Grant Technical Assistance (CDBG TA)

Eligibility: States, units of general local government, Indian tribes, area-wide planning organizations, and other qualified groups designated by or assisting one or more such governmental units.
Funding used for: Community development and related programs.
Fund description: Federal funding grants, technical assistance awards.
Deadline: Annual.

Economic Development Initiative (“Competitive EDI”) Grants

Eligibility: CDBG recipient
Funding used for: To carry out eligible economic development activities where public and private dollars can be leveraged to create jobs and other benefits, especially for low- and moderate-income persons, and reduce the risk of potential future defaults on Section 108 loan guarantee-assisted projects.
Fund description: Federal funding grants.
Deadline: Only amendments to previously approved grants are being made. No new grants are being awarded.


West Virginia Development Office

WEST VIRGINIA DEVELOPMENT OFFICE

Small Cities Block Grant (SCBG)

Eligibility: Funds are provided only to units of local government, generally counties and municipalities. Nonprofits, public service districts, utility boards, recreation boards and economic development authorities are only eligible to receive SCBG funds through a sub-grant agreement with the unit of local government. The unit of local government must be the applicant.
Funding used for: Community development, creation of affordable infrastructure systems and related programs.
Fund description: Federal funding grants / technical assistance awards.
Additional information: Contact the West Virginia Development Office at (800) 982-3386 or (304) 558-4010.
Deadline: Annual. Call to verify.

Neighborhood Investment Program (NIP)

Eligibility: Contributing businesses and individuals who donate to NIP-approved 501(c)3 designated charitable organizations, who can apply for tax credit vouchers and distribute them.
Funding used for: Programs and services that support the community.
Fund description: Tax Credits. The West Virginia Legislature sets aside $2.5 million annually in state tax credits for the NIP.
Additional information: Contact the West Virginia Development Office at (800) 982-3386 or (304) 558-2234.
Deadline: Annual. Call to verify.

Main Street West Virginia

Eligibility: Any traditional, historic downtown or neighborhood commercial district in the state.
Funding used for: To tackle the complex issue of downtown and neighborhood commercial district revitalization, capitalizing on the history and the resources of the community itself.
Fund description: Technical assistance.
Additional information: Contact Monica Miller, state coordinator, or Marsha Humphrey, assistant state coordinator, at (800) 982-3386 or (304) 558-2234. Also, an FAQ for the program can be found here.
Deadline: Applications are taken during specific application periods. Contact the Main Street West Virginia office to be placed on the notification list. Information is automatically sent to every mayor and city clerk.

West Virginia ON TRAC (Organization, Training, Revitalization and Capacity)

Eligibility: Any traditional, historic downtown or neighborhood commercial district in the state.
Funding used for: To evaluate, educate and assist communities to boost economic and community growth. To prepare communities for more advanced technical services through the Main Street program.
Fund description: Technical assistance and mentoring program. Here is a link to the program brochure.
Deadline: See Main Street WV for contact information.

Land and Water Conservation Fund program (LWCF)

Eligibility: Units of local government, independent park boards, commissions, districts and state government.
Funding used for: Acquisition and/or development of high-quality, public outdoor recreational areas.
Fund description: 50/50 reimbursable matching grants (federal funding)
Additional information: Contact John McGarrity or Jim Marshall at (800) 982-3386 or (304) 558-4010
Deadline: Call to verify

Appalachian Regional Commission

Eligibility: Public entities (cities, towns, counties, regions, public service districts) and nonprofit organizations.
Funding used for: Activities that create opportunities for self-sustaining economic development and improved quality of life.
Fund description: Federal grants.
Additional information: Contact the West Virginia Development Office at (800) 982-3386 or (304) 558-2234. Click here for forms and guidelines.
Deadline: Annual.

West Virginia Economic Infrastructure Bond Fund

Eligibility: Government agencies, corporations, public corporations, partnerships, associations, LLCs.
Funding used for: Projects likely to foster and enhance economic growth and development, particularly business and/or industrial parks.
Fund description: Loans. Funding per project is limited to a maximum of $3 million.
Additional information: Contact the West Virginia Development Office at (800) 982-3386 or (304) 558-4010.
Deadline: Available year-round. Call to verify.

Governor’s Community Partnership

Eligibility: Units of local government, generally counties and municipalities
Funding used for: Community and economic development projects / meaningful public improvements projects
Fund description: State grant funds
Additional information: Contact Debbie Legg or Kelly Workman at (800) 982-3386 or (304) 558-4010.
Deadline: Available year-round. Call to verify.

Flex-E-Grant

Eligibility: Public entities (cities, towns, counties, regions, public service districts) and nonprofit organizations from West Virginia’s distressed counties as designated by the Appalachian Regional Commission. The Flex-E-Grant program is targeted to benefit ARC Distressed Counties. Programs must demonstrate beneficiaries in Distressed Counties. A list of eligible activities is found here.
Funding used for: Support of local leadership, civic engagement and capacity building
Fund description: Grants up to $10,000 total project cost
Additional information: Contact the West Virginia Development Office at (800) 982-3386 or (304) 558-2234.
Deadline: Annual

Local Economic Development (LED) Grant Program

Eligibility: County development corporations or authorities, A multi-county or regional development corporation or authority, Regional Planning and Development Councils
Funding used for: To undertake economic development activities and to complete Certified Development Community (CDC) program requirements.
Fund description: Matching state grants, up to $31,008 per county.
Additional information: Contact the West Virginia Development Office at (800) 982-3386 or (304) 558-2234
Deadline: Call to verify.

Certified Development Community (CDC) Program

Eligibility: Entry into the Certified Development Community program is open at any time to any community in West Virginia. For the purpose of the program, a community is either a county or a multi-county region.
Funding used for: Prepare and equip communities across the state to respond to the needs of existing and prospective business and industry through the Industrial Park Track or Entrepreneurial Track.
Fund description: Technical assistance
Additional information: Contact the West Virginia Development Office at 800-982-3386, or 304-558-2234
Deadline: Available year-round.


West Virginia Economic Development Authority (WVEDA)

WEST VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY (WVEDA)

Direct Loan Program

Eligibility: Existing or prospective creditworthy manufacturing, distribution centers, technology-based service companies and other businesses currently targeted by the West Virginia Development Office meeting WVEDA’s job creation criteria.
Funding used for: Fixed assets; job creation and retention and economic benefit to the state.
Fund description: Low interest, direct loan, minimum $50,000 and maximum $10,000,000.
Additional information: Contact David Warner, Tony Benedetto, Joey Browning or Steven Webb
Deadline: Available year-round.

Tax-Exempt Industrial Development Bonds

Eligibility: Communities who wish to endorse a business, and have passed by their local governing unit an Inducement Resolution.
Funding used for: Nonexempt (small-issue) projects, projects in Empowerment Zones and Enterprise Communities, exempt facilities.
Fund description: Tax-exempt bonds, up to US Internal Revenue Code “statewide” cap.
Deadline: November

Loan Insurance Program

Eligibility: Businesses; bank makes the application.
Funding used for: Fixed assets or other needs such as inventory and working capital, not construction loans nor lines of credit.
Fund description: Insurance of up to 80% of a bank loan; insured portion not to exceed $500,000.
Additional information: click here to contact WVEDA
Deadline: Available year-round.


State Tax Credits

STATE TAX CREDITS

The below state tax credit programs need to be verified that they are up to date.

Corporate Headquarters Relocation Credit

Eligibility: Corporations who relocate their headquarters to WV.
Funding used for: Credit available if 15 new jobs are created within the first year.
Fund description: Tax credits
Deadline: Available year-round.

Economic Opportunity Credit

Eligibility: Qualified business.
Funding used for: Companies must create at least 20 new jobs within specified time limits (eg 10 jobs for small businesses).
Fund description: Tax Credit up to 80% of specified business. Up to 100% if company creates the requisite number of jobs that pay an annual median wage higher than the state average on-farm payroll wage. Or, a $3,000 credit is allowed per new full time job provided it meets a certain salary minimum.
Deadline: Available year-round.

“Five-For-Ten” Program

Eligibility: Qualified businesses with manufacturing property.
Funding used for: Businesses must make qualified capital improvements of at least $50 million to an existing base of $100 million or more.
Fund description: Values the new capital addition at a salvage value of 5% for the first 10 years.
Deadline: Available year-round.

“Five For Ten” Program: Fractionating Plants and Secondary Plants [attachment unavailable]

Eligibility: Property owner.
Funding used for: Real and personal property of facilities that are or will be classified under the North American Industry Classification System (NAICS) code number 211112 (natural gas liquid extraction “fractionating” plants) and to manufacturing facilities that use products produced at a facility with a 211112 NAICS code.
Fund description: Special property tax valuation of 5 percent of the cost of the qualified property instead of fair market value.
Deadline: Available year-round.

Manufacturing Investment Credit

Eligibility: Businesses.
Funding used for: Qualified investment in eligible manufacturing property, with no new job creation required
Fund description: Tax credit of up to 60 percent of corporate net income tax and business franchise tax
Deadline: Available year-round.

Manufacturing Inventory Credit

Eligibility: Businesses.
Funding used for: Raw materials, goods in process and finished goods manufacturing inventory.
Fund description: Offsets the business franchise tax and corporate net income tax in the amount of property tax paid on such materials.
Deadline: Available year-round.

Commercial Patent Incentives Tax Credit

Eligibility: Businesses.
Funding used for: Royalties, license fees and other consideration for developers of a patent or a percentage of net profit attributable to a patent used in a manufacturing process or product.
Fund description: Tax Credit up to 100% of the business franchise tax, corporation net income tax, or in the case of individual taxpayers, the personal income tax.
Deadline: Available year-round.

High-Tech Manufacturing Tax Credit

Eligibility: Businesses
Funding used for: Manufacture of certain computers and peripheral equipment, electronic components or semi-conductors and which create at least 20 new jobs within one year after placement of qualified investment into service
Fund description: Tax credit of 100% of the business and occupation tax, business franchise tax, corporate net income tax, and personal income tax on certain pass through.
Deadline: Available year-round.

High-Technology Business Property Valuation Act

Eligibility: Businesses.
Funding used for: Tangible personal property, including servers, directly used in a high-technology business or in an internet advertising business.
Fund description: Such property is valued for property tax purposes at 5 percent of the original cost of the property. Furthermore, sales tax is eliminated from all purchases of prewritten computer software, computers, computer hardware, servers, building materials and tangible personal property, for direct use in a high-technology business or internet advertising business.
Deadline: Available year-round.

Manufacturing Sales Tax Exemption

Eligibility: Businesses.
Funding used for: Materials and equipment purchased for direct use in manufacturing.
Fund description: Exemption from 6% state sales and use tax.
Deadline: Available year-round.

The Warehouse Freeport Tax Exemption

Eligibility: Property owner.
Funding used for: Property that is used for the manufacture of products in WV and stored in the state or goods transported through and held in WV. Does not apply to inventories of raw materials or goods in process.
Fund description: Exempts property from the WV ad valorem property tax.
Deadline: Available year-round.

Special Rates of Electric Power for Industrial Consumers
West Virginia Public Service Commission

Eligibility: Industrial facility, plant or enterprise.
Funding used for: continued, new or expanded operation of energy-intensive industrial consumers.
Fund description: Special utility rates; must prove the need.
Deadline: Available year-round.

The Tourism Matching Advertising Partnership Program

Eligibility: Businesses and their partners
Funding used for: Advertising and promotion of tourism through partnerships.
Fund description: Reimbursable matching funds for direct advertising. Applicants must provide minimum 50% of total cost for programs at the $10,000+ level or 25% at $7500 level. (verify amounts – found different info)
Deadline: Available year-round.

High-Growth Business Investment Tax Credit

Eligibility: Businesses
Funding used for: Start-up, growth-oriented and research and development business which increase employment and economic development.
Fund description: Tax credit equal to 50 percent of the qualified investment made in companies that have been certified by the tax commissioner as eligible for the Strategic R&D Tax Credit.
Deadline: Available year-round.


Federal Home Loan Banks Pittsburgh (FHL Pittsburgh)

FEDERAL HOME LOAN BANKS – PITTSBURGH

Community Lending Program

Eligibility: Member financial institutions
Funding used for: Qualified community and economic development projects that create housing, build infrastructure, help small businesses and strengthen neighborhoods.
Fund description: Loans; matching funds at a competitive rate; $825 million noncompetitive revolving loan pool.
Deadline: Available year-round.

Banking On Business

Eligibility: Small businesses
Funding used for: Start-up and expansion of eligible small businesses, to eventually create or retain jobs and promote local economic growth.
Fund description: Loans.
Deadline: Available year-round as funds are available.

Blueprint Communities

Eligibility: Community team; one member must be a member of FHL Bank Pittsburgh whose service area includes the Blueprint Community.
Funding used for: innovative activities, policies or programs implemented that have demonstrated success in solving community needs.
Fund description: Grant award.
Deadline: Annual.


Regional Resources

Visit our regional resources page for organizations specific to your county or area.
For further support, contact your regional planning and development council.