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Western Potomac Economic Partnership

STRATEGIC LOCATION

The Eastern Panhandle is conveniently located within 90 minutes of Washington DC and Baltimore, and is located within 500 miles of two thirds of the nation’s retail customers and industrial suppliers, making it an ideal location to do business. The multi-modal transportation infrastructure which exists in the Eastern Panhandle is a tremendous asset. Current construction projects include rail spurs, highway interchange additions, and roadway improvements around existing business parks. And the panhandle features some outstanding Site Ready Industrial Parks

MAJOR EMPLOYERS

Major companies across the country have discovered the benefits of basing their operations in the Eastern Panhandle. Some of the major employers in the area include:
Quad Graphics
Essroc
Macys
US Department of Treasury
Department of Defense
Orgill
FedEx SmartPost
Royal Vendors
Department of the Interior
Department of Agriculture
DaySpring, Inc
Caperton Furniture Works
US Silica

INCENTIVES

The counties of WestPEP and the State of West Virginia offer great resources for businesses, both through the Department of Commerce and the Small Business Development Center. Check out these financial benefit programs:

  • Both a Super Tax Credit or a Small Business Credit are offered by West Virginia to companies making a capital investment that will create jobs. A credit of 30% of their qualified investment is available to small businesses bringing a minimum of 10 jobs. Companies investing in projects that will create 50 to 1,000 jobs can receive tax credits of from 50% to 90% of their qualified investments. Other tax credits are available, including the Freeport Tax Exemption on warehoused goods in transit. The Corporate Headquarters Credit can provide a credit of up to 50% of your investment in relocating your corporate headquarters here.
  • Loans at considerably below the prime rate are provided by the West Virginia Economic Development Authority (WVEDA). For larger projects, the State Board of Investments has a $50 million fund that offers loan rates based on 13-week Treasury Bill rates. For small and medium-sized businesses, the Small Business Administration provides long-term fixed-rate loan guarantees of up to $500,000.
  • A number of venture capital companies throughout the state will consider financing new projects.