Tax Incentives

Build WV Act

Fueling Growing & Housing Development in West Virginia’s Thriving Communities

Passed in the 2022 Legislative Session, the BUILD WV Act aims to assist West Virginia’s growing communities in attracting much-needed housing development projects. The credit offers a State Sales and Use Tax exemption for building materials and a 10-year property value adjustment refundable tax credit to offset building costs. West Virginia is one of the fastest-growing inbound states, and the demand for new residential properties has never been higher. The Putnam County district encompasses a 20-mile radius around the town of Buffalo. This encompasses most of Putnam County and portions of Jackson, Mason, and Cabell counties.

Apply for a Housing Project in Putnam County

To apply for a housing project in Putnam County, please get in touch with the Putnam County Development Authority at pcda@pcda.org or 304-757-6562. PCDA will review your application for free before submitting it to the West Virginia Department of Economic Development (WVDED). WVDED oversees the program and final reviews all applications. A non-refundable application fee of $5,000 is required to apply. Projects must use and be approved before the completion of construction.

The Build WV Act

The Following Incentives are Available for Approved BUILD WV Projects:

1. Sales Tax Exemption

Purchases of building materials, tangible personal property, and services by a construction contractor or subcontractor directly used to construct a certified BUILD WV project are exempt from consumer sales and service tax.

2. Property Value Adjustment Credit (PVAC)

PVAC credit can be taken against the eligible taxpayer’s personal or corporate income tax, beginning in the tax year in which construction of the project property is completed and ending in the 10th taxable year thereafter. This tax credit is refundable, up to $100,000 per project.

3. Potential for B&O Tax Exemption

To be determined by individual municipalities, authorized by an ordinance.

This map encompasses projects that may be eligible for Build WV for the Town of Buffalo Build WV district, projects must be in the 20-mile radius of Buffalo.

Buffalo 20 mile radius map

Click to Enlarge

Additional information on Build WV, including other Build districts, can be found at westvirginia.gov/build-wv-act

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.

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.