AEROSPACE

 

Soaring Opportunity

 

The aerospace industry is a dynamic, emerging economic sector in West Virginia. From up-and-coming high-tech innovators to established titans of the industry, the state’s growing cluster of aerospace companies is fueled by an array of advantages.


 
 
 

 

Strategic location

Accessible to top domestic purchasing sectors and national defense contractors, corporations, federal government and other customers and suppliers vital to the aerospace industry. Proximity to aerospace original equipment manufacturers based throughout the South, including Boeing, AirBus, Lockheed Martin and Gulfstream.

West Virginia is connected to the East Coast and Continental United States by highways, railways and navigable waterways. The new Heartland Intermodal Gateway provides clearance for double-stack rail cars from Roanoke, Virginia, through southern West Virginia to Chicago.

Availability of raw materials

West Virginia manufacturers provide the aerospace industry access to raw materials such as ALUMINUM, ALLOYS, METALS and COMPOSITES.

Development assistance

  • AIRCRAFT VALUATION: Aircraft owned or leased by commercial airlines, charter carriers, private carriers and private companies are valued for property tax purposes at the lower of fair market salvage value or 5% of the original cost of the property.
     
  • AIRCRAFT VALUATION, SPECIAL AIRCRAFT PROPERTY: All aircraft owned or leased by commercial airlines or private carriers, or any parts, materials or items used in the construction, maintenance or repair of aircraft which are, or are intended to become, affixed to or a part of an aircraft or of an aircraft’s engine or of any other component of an aircraft will be valued at “salvage value” or 5% of original costs, whichever is the lesser amount.
     
  • ECONOMIC OPPORTUNITY CREDIT: For qualified companies that create at least 20 new jobs within specified time limits (10 jobs in the case of qualified small businesses) as a result of their business expansion projects, the State’s Economic Opportunity Tax Credit can offset up to 80% of the corporate net income tax and personal income tax (on flow through income only) attributable to qualified investment. If a qualified company that creates the requisite number of jobs pays an annual median wage higher than the statewide average non-farm payroll wage, then the qualified company can offset up to 100% of the corporate net income tax and personal income tax (on flow through income only) attributable to qualified investment.
     
  • MANUFACTURING INVESTMENT CREDIT: A tax credit is allowed against up to 60% of corporate net income tax and based on qualified investment in eligible manufacturing property, with no new job creation required.
     
  • MANUFACTURING SALES TAX EXEMPTION: Purchases of materials and equipment for direct use in manufacturing are exempt from the 6% state sales and use tax and 1% municipal sales tax, including building materials and process equipment purchased for construction of a manufacturing facility.
 

 






Aerospace

 

Soaring Opportunity

The aerospace industry is a dynamic, emerging economic sector in West Virginia. From up-and-coming high-tech innovators to established titans of the industry, the state's growing cluster of aerospace companies is fueled by an array of advantages. Higher profitability, lower labor costs and utility savings in combination with a reliable supply of experienced industry workers. West Virginia provides strategic access to the top domestic purchasing sectors of aerospace products and to national defense contractors, corporations, the federal government and other industrial customers and suppliers. A West Virginia-based company will find a plentiful supply of primary and fabricated metal products, essential raw materials for the aerospace industry.

 

 

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Aerospace Industry Leaders in West Virginia

Strategic Location

Accessible to top domestic purchasing sectors and national defense contractors, corporations, federal government and other customers and suppliers vital to the aerospace industry. Proximity to aerospace original equipment manufacturers based throughout the South, such as Boeing, AirBus, Lockheed Martin and Gulfstream.

 

World-class workforce with turnover rate
below national average and tied for
3rd-lowest for manufacturing.

Pro-business tax-climate with no new
business taxes in the last 20 years.
Business franchise tax eliminated in 2015.

Fiscally responsible state government with
Fitch credit rating AA+ for general debt
obligation and overall stable outlook

Low cost of living 14% lower than
national average with safe communities
and unparalleled outdoor
recreation opportunities

Electricity rates more than 33% lower
than the national average

Employers have saved more than
$280 million since the state privatized the
Worker's Compensation fund in 2006

Cost of doing business 14% below the
national average

 

 

 

 

Raw Materials

Abundant supply of primary, fabricated, and composite metal products essential to the aerospace industry through companies located in the state and the region, such as Constellium, Precoat Metals and ArcelorMittal.

 

Transportation

West Virginia is connected to the East Coast and Continental United States by highways, railways and navigable waterways. The new Heartland Intermodal Gateway provides clearance for double-stack rail cars from Roanoke, Virginia, through southern West Virginia to Chicago.

 

Training and Education

Institutions partner with industry to equip workers with needed industry-specific skills and know-how. The Robert C. Byrd National Aerospace Education Center - acomponent of the Fairmont State University School of Technology in Bridgeport - offers an associate degree in aviation maintenance technology and bachelor's degrees in aviation technology and aviation administration. The West Virginia University Mechanical and Aerospace Engineering program offers degrees through the doctorate level to prepare workers for careers in the aerospace industry and in government research, as well as in military missionoriented agencies.

 

Aircraft Valuation Business Tax

A reduction in the assessed value of all aircraft owned or leased by commercial airlines, charter carriers, private carriers and private companies is provided for property tax purposes, reducing qualified property tax obligations up to 95 percent.

Building Products

 

A Solid Foundation

West Virginia's building products industry, with hardwood products leading the way, has the workforce skills, building materials and support services the construction industry needs to build a solid foundation for success. With 11.9 million forested acres, West Virginia is the third most forested state in the nation. The state also has abundant resources such as coal and limestone for making cement. The many coal-fired power plants found in West Virginia create opportunities for companies manufacturing wallboard. Mix those assets with a focus on higher education resources and the West Virginia Wood Technology Center provides training programs in advanced wood manufacturing technologies and you have a state ready to help build for the future.

 

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Building Products Industry Leaders in West Virginia

 

Strategic Location

West Virginia is within easy range - eight hours if you drive, faster if you fly - of half the U.S. population and a third of the Canadian market.

 

World-class workforce with turnover rate
below national average and tied for
3rd-lowest for manufacturing.

Pro-business tax-climate with no new
business taxes in the last 20 years.
Business franchise tax eliminated in 2015.

Fiscally responsible state government with
Fitch credit rating AA+ for general debt
obligation and overall stable outlook

Low cost of living 14% lower than
national average with safe communities
and unparalleled outdoor
recreation opportunities

Electricity rates more than 33% lower
than the national average

Employers have saved more than
$280 million since the state privatized the
Worker's Compensation fund in 2006

Cost of doing business 14% below the
national average

 

Educational, Training and Economic Development Support

The West Virginia Wood Technology Center provides training programs in advanced wood manufacturing technologies. The state's educational institutions offer associate and bachelor's degree programs in forestry related subjects.

 

Qualified Workforce

Thousands of highly skilled and experienced technical workers are available and ready to work. Unique education/industry partnerships create customizable programs to equip workers with industry-specific skills and know-how.

 

 

 

 

Industry Resources

The state's educational institutions offer associate and bachelor's degree programs in forestry-related subjects. Many associations working to advance the building product industry include the Builders Supply Association of West Virginia, Hardwood Alliance Zone, Appalachian Hardwood Center, Wood Education and Resource Center, West Virginia University Division of Forestry and Natural Resources, and the West Virginia Forestry Association.

 

Transportation

West Virginia is connected to the East Coast and Continental United States by highways, railways and navigable waterways. The new Heartland Intermodal Gateway provides clearance for double-stack rail cars from Roanoke, Virginia, through southern West Virginia to Chicago.

 

Raw Materials

With 11.9 million forested acres, West Virginia is the third most forested state in the nation. The state's forests are at least 94% hardwood species. The state also has abundant resources such as coal and limestone for making cement.

 

Pro-growth Tax Reforms

The state has reduced taxes such as the Corporate Net Income Tax and gradually eliminated others, including the Business Franchise Tax.

 

Quality of Life

The cost of living is low and the quality of life is high, with safe communities and outdoor recreation opportunities that include biking, hiking, golfing, skiing and whitewater rafting.

 

Employer-friendly Business Climate

Thanks to aggressive pro-business legislation, we offer some of the lowest worker’s compensation rates in the country.

 

Research & Technology

Uncommon capabilities can be found at groups such as Mid-Atlantic Technology, Research and Innovation Center (MATRIC); and the Robert C. Byrd Institute for Advanced Flexible Manufacturing (RCBI), which includes the nationally-certified RCBI Machinist Technology Program. The RCBI Machinist Technology program meets standards set by the National Institute for Metalworking Skills (NIMS).

Fulfillment Distribution

 

Logistical Advantage

West Virginia is home to distribution and fulfillment centers for renowned companies. The Mountain State delivers the logistical and operational advantages these successful businesses seek. A highly skilled workforce combined with low energy costs and a strategic location are the key reasons companies have created a base of operations in West Virginia. In addition to major highways I-79, I-77, I-64 and I-70, the Eastern Panhandle sits on the I-81 corridor. West Virginia is within overnight reach of 74 percent of the U.S. polyols market and 79 percent of the country's auto body, part manufacturing and assembly plants, making it the perfect location.

 

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Fulfillment Distribution Industry Leaders in West Virginia

 

Strategic Location

West Virginia is within easy range - eight hours if you drive, faster if you fly - of half the U.S. population and a third of the Canadian market.

In addition to major highways I-79, I-77, I-64 and I-70, the Eastern Panhandle sits on the I-81 corridor. Airports and railroads provide additional options for efficient distribution and shipping of products to customers.

 

World-class workforce with turnover rate
below national average and tied for
3rd-lowest for manufacturing.

Pro-business tax-climate with no new
business taxes in the last 20 years.
Business franchise tax eliminated in 2015.

Fiscally responsible state government with
Fitch credit rating AA+ for general debt
obligation and overall stable outlook

Low cost of living 14% lower than
national average with safe communities
and unparalleled outdoor
recreation opportunities

Electricity rates more than 33% lower
than the national average

Employers have saved more than
$280 million since the state privatized the
Worker's Compensation fund in 2006

Cost of doing business 14% below the
national average

 

Educational and Training Resources

Educational/vocational institutions partner with industry to offer customized training programs. The Governor's Guaranteed Work Force Training Program offers assistance to eligible companies to support industry-specific custom technical and knowledge upgrade training.

 

 

 

 

Employer-friendly Business Climate

Thanks to aggressive pro-business legislation, we offer some of the lowest worker's compensation rates in the country.

 

Pro-growth Tax Reforms

The state has reduced taxes such as the Corporate Net Income Tax and gradually eliminated others, including the Business Franchise Tax.

 

Transportation

West Virginia is connected to the East Coast and Continental United States by highways, railways and navigable waterways. The new Heartland Intermodal Gateway provides clearance for double-stack rail cars from Roanoke, Virginia, through southern West Virginia to Chicago.

 

Qualified and Available Workforce

Thousands of highly skilled and experienced technical workers are available and ready to work. Unique education/industry partnerships create customizable programs to equip workers with industry-specific skills and know-how.

 

Quality of Life

The cost of living is low and the quality of life is high, with safe communities and outdoor recreation opportunities that include biking, hiking, golfing, skiing and whitewater rafting.

 

Research & Technology

Uncommon capabilities can be found at groups such as Mid-Atlantic Technology, Research and Innovation Center (MATRIC); and the Robert C. Byrd Institute for Advanced Flexible Manufacturing (RCBI), which includes the nationally-certified RCBI Machinist Technology Program. The RCBI Machinist Technology program meets standards set by the National Institute for Metalworking Skills (NIMS). These skills combined with many technical programs and partnerships help build a ready workforce.