Expansion of Economic Development Programs Proposed in W.Va.

By: Associated Press Email
By: Associated Press Email

CHARLESTON, W.Va. (AP) -- West Virginia would expand several economic development programs under legislation proposed by acting Gov. Earl Ray Tomblin.

Tomblin has also asked lawmakers to give sales tax breaks to employers who build or expand the sort of warehouse operation that Macy's is bringing to the state.

Three of Tomblin's bills address tax-increment financing. This approach funds development projects through the resulting increase in tax revenues they generate.

Tomblin has proposed allowing this financing to cover land remediation. He also wants it expanded to include projects that mix both commercial and residential development.

Another measure would increase funding for a neighborhood investment program, and give it another five years to operate.


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