Tax Incentives and Financing Options
Tax Incentives Through West Virginia
Tax incentives are available for expanding companies and companies interested in being headquartered in the state.
Many other incentives and financing options are outlined by following the link provided. Our team is happy to arrange a meeting with officials at the state level to explore how these incentives may help your business. Some tax incentives below are:
Freeport Exemption
Provides an exemption from ad valorem property tax on 1. Manufactured goods made in the state and stored for a limited time before shipment out of state, and 2. Goods transported into the state for a limited time before being shipped out of state.
Manufacturing Inventory Credit
Allows property tax on raw materials, goods in process, and finished goods in the manufacturing inventory to offset a company’s net corporate income tax.
Manufacturing Investment Credit
For qualified companies, a credit of 60% of corporate net income tax based on investment in eligible manufacturing property. No new job creation is required for eligibility.
Sales Tax Exemption for Qualified Warehouse & Distribution Centers
Allows exemption in consumer sales service tax on the purchase of eligible and tangible personal property.
Manufacturing Sales Tax Exemption
Exemption from the 6% WV sales tax and use tax and 1% municipal sales tax on the purchase of materials and equipment for direct use in the manufacturing process and in the construction of a manufacturing facility.
Explore how incentives may help your business.
Financing
The West Virginia Economic Development Authority Offers Low-Interest and Direct Loans to Assist Businesses
Our Team is Happy to Put You in Touch to Learn More.
Direct Lending
Direct lending is available to qualified manufacturing, distribution, and destination tourism entities.
Loan Guarantees
Secured bank loans for qualified projects may be insured up to 80% with loan proceeds to be used for working capital, and inventory. (Construction loans and lines of credit do not apply.)
Loan Options Include
Wyoming EDA
MOVRC
First Microloan of WV
Additional loans are also available.
Have questions about Putnam County? We’re here to help.
What would you like to know about Putnam County, West Virginia? Have a specific site need? Want to speak with the corporate leaders who do business here? Need to know more about local housing options? We’re here to help. Whatever you would like to know about Putnam County or any connections you’re interested in making, turn to our team. We’ll respond quickly!
Find out more about Putnam County
Contact us
971 WV-34, Hurricane, WV
OFFICE ADDRESS
304-757-0318
PHONE NUMBER
pcda@pcda.org
EMAIL ADDRESS
West Virginia
Economic Development