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.

 

 

aurora.jpgbombardier.jpgfcx-systems.jpglockheed-martin.jpgpratt-whitney.jpgpuris.jpgutc-aerospace-systems.jpg

 

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.

 

 

 

 

Electricity Rates

West Virginia's commercial electricity rates are 33 percent below the national average and lower than all neighboring states.

 

Cents per Kilowatt hour

 

 

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.