Economy of West Virginia
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West Virginia West Virginia is a state in the Appalachian, Mid-Atlantic and Southeastern regions of the United States.The Census Bureau and the Association of American Geographers classify West Virginia as part of the Southern United States while the B ...
nominally would be the 62nd largest economy globally behind
Iraq Iraq,; ku, عێراق, translit=Êraq officially the Republic of Iraq, '; ku, کۆماری عێراق, translit=Komarî Êraq is a country in Western Asia. It is bordered by Turkey to the north, Iran to the east, the Persian Gulf and K ...
and ahead of
Croatia , image_flag = Flag of Croatia.svg , image_coat = Coat of arms of Croatia.svg , anthem = "Lijepa naša domovino"("Our Beautiful Homeland") , image_map = , map_caption = , capit ...
according to 2009
World Bank The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Inte ...
projections,"The World Bank: World Development Indicators database"
World Bank. September 27, 2010. Accessed December 11, 2010.
and the 64th largest behind Iraq and ahead of
Libya Libya (; ar, ليبيا, Lībiyā), officially the State of Libya ( ar, دولة ليبيا, Dawlat Lībiyā), is a country in the Maghreb region in North Africa. It is bordered by the Mediterranean Sea to the north, Egypt to the east, Suda ...
according to 2009
International Monetary Fund The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster glo ...
projections."Report for Selected Countries and Subjects"
International Monetary Fund. October 2010. Accessed December 11, 2010
The state has a projected nominal GDP of $63.34 billion in 2009 according to the Bureau of Economic Analysis report of November 2010, and a real GDP of $55.04 billion. The real GDP growth of the state in 2009 of .7% was the 7th best in the country. West Virginia's economy accelerated in 2014 with a growth rate of 5.1%, ranking third among the fastest growing states in the United States alongside Wyoming and just behind North Dakota and Texas. In 2021, the state GDP was $72.48 billion, an increase over $69.71 billion in 2021. Morgantown was ranked by
Forbes ''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also r ...
as the 10th best small city in the nation to conduct business in 2010, then as 73rd in its 2019 "The Best Small Places For Business And Careers" rankings. West Virginia's unemployment rate in August 2019 was 4.6%, the lowest since the start of the
Great Recession The Great Recession was a period of marked general decline, i.e. a recession, observed in national economies globally that occurred from late 2007 into 2009. The scale and timing of the recession varied from country to country (see map). At ...
. As a result of the COVID pandemic, West Virginia's unemployment rate had risen to 6.1% in December 2020, which, by November 2022, had improved from pre-pandemic levels, reported at 4.1%.


Overview

The economy of West Virginia nominally would be the 62nd largest economy globally behind
Iraq Iraq,; ku, عێراق, translit=Êraq officially the Republic of Iraq, '; ku, کۆماری عێراق, translit=Komarî Êraq is a country in Western Asia. It is bordered by Turkey to the north, Iran to the east, the Persian Gulf and K ...
and ahead of
Croatia , image_flag = Flag of Croatia.svg , image_coat = Coat of arms of Croatia.svg , anthem = "Lijepa naša domovino"("Our Beautiful Homeland") , image_map = , map_caption = , capit ...
according to 2009 World Bank projections, and the 64th largest behind Iraq and ahead of
Libya Libya (; ar, ليبيا, Lībiyā), officially the State of Libya ( ar, دولة ليبيا, Dawlat Lībiyā), is a country in the Maghreb region in North Africa. It is bordered by the Mediterranean Sea to the north, Egypt to the east, Suda ...
according to 2009
International Monetary Fund The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster glo ...
projections. The state has a projected nominal GDP of $63.34 billion in 2009 according to the Bureau of Economic Analysis report of November 2010, and a real GDP of $55.04 billion. The real GDP growth of the state in 2009 of .7% was the 7th best in the country. West Virginia was only one of ten states in 2009 which grew economically. In 2009, while per capita income growth fell 2.6% nationally, West Virginia's grew at 1.8%. Through the first half of 2010, exports from West Virginia topped $3 billion, growing 39.5% over the same period from the previous year and ahead of the national average by 15.7%. Personal income growth in West Virginia during 2013 was only 1.5% - the lowest in the nation - and about half the national average of 2.6%. Overall income growth in West Virginia in the last 30 years has been only 13% (about one-third of the national average of 37%). Wages of the impoverished bottom 1% income earners decreased by 3%, compared to the national average for the bottom 1% income earners which increased 19%. Morgantown was ranked by
Forbes ''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also r ...
as the #10 best small city in the nation to conduct business in 2010. The city is also home to
West Virginia University West Virginia University (WVU) is a public land-grant research university with its main campus in Morgantown, West Virginia. Its other campuses are those of the West Virginia University Institute of Technology in Beckley, Potomac State Coll ...
, the 109th best public university according to '' U.S. News & World Report''. The net corporate income tax rate is 6.5%, while business costs are 13% below the national average.


Appalachian Regional Commission

The
Appalachian Regional Commission The Appalachian Regional Commission (ARC) is a United States federal–state partnership that works with the people of Appalachia to create opportunities for self-sustaining economic development and improved quality of life. Congress established A ...
was formed in 1965 to aide economic development in the Appalachian region, which was lagging far behind the rest of the nation on most economic indicators. The Appalachian region as defined by the Commission includes 420 counties in 13 states, including all 55 counties in West Virginia, the only state whose entire territory is covered by the Appalachian Regional Commission. The Commission gives each county one of five possible economic designations - distressed, at-risk, transitional, competitive, or attainment - with "distressed" counties being the most economically endangered and "attainment" counties being the most economically prosperous. These designations are based primarily on three indicators - three-year average unemployment rate, market income per capita, and poverty rate. In 2003, West Virginia had a three-year average unemployment rate of 5.7%, compared with 5.5% nationwide. In 2002, West Virginia had a per capita market income of $17,856, compared with $26,420 nationwide. In 2000, West Virginia had a poverty rate of 17.9%, compared to 12.4% nationwide. Fifteen counties in West Virginia were designated "distressed," and sixteen counties were designated "at-risk." No county received the "attainment" designation, and only two - Jefferson and Putnam - were designated "competitive." Nineteen counties were designated "transitional," meaning they lagged behind the national average on one of the three key indicators. McDowell County had West Virginia's highest poverty rating (and the third highest in the entire Appalachian region), with 37.7% of its residents living below the poverty line. Kanawha County had West Virginia's highest per capita income at $25,170, and Monongalia had West Virginia's lowest unemployment rate at 2.7%.


Industries

The largest employers in West Virginia are
WVU Medicine The West Virginia University Health System, commonly branded as WVU Medicine is a nonprofit health enterprise affiliated with West Virginia University. It provides services throughout West Virginia and portions of the surrounding states of Maryl ...
;
Walmart Walmart Inc. (; formerly Wal-Mart Stores, Inc.) is an American multinational retail corporation that operates a chain of hypermarkets (also called supercenters), discount department stores, and grocery stores from the United States, headquarter ...
; CAMC Health; Mountain Health Network;
Kroger The Kroger Company, or simply Kroger, is an American retail company that operates (either directly or through its subsidiaries) supermarkets and multi-department stores throughout the United States. Founded by Bernard Kroger in 1883 in Cinci ...
; Lowe's;
Contura Energy Alpha Metallurgical Resources, formerly Contura Energy (January 2021), is a leading coal supplier with underground and surface coal mining complexes across Northern and Central Appalachia. Contura owns large coal basins in Pennsylvania, Virginia ...
; Mon Health;
American Consolidated Natural Resources American Consolidated Natural Resources, previously known as Murray Energy, is a US-based coal mining company. It is the fourth largest coal producer in the country, and the largest privately-owned coal company. Founded in 1988 by Robert E. Murra ...
and Mylan Pharmaceuticals.


Research and development and advanced tech

Through 2008, 45,284 West Virginians were employed in advanced technology industries, which made up 5.6% of the economic establishments in the state. Through 2007, roughly 5.11% of the total population or 91,998 citizens of the state aged 25–44 held bachelor's degrees or higher. West Virginia receives annually around $261 million in federal Research and development (R&D) funds, ranking 34th in the nation. Private establishments receiving the most federal R&D contracts in 2009 were Fairmont-based Prologic, Inc., Security Assistance Corporation, Ridgeley-based Alliant Techsystems, Inc., Berkeley Springs-based STS International, and the Fairmont-based West Virginia High Technology Consortium Foundation (HTC). The state is home to federal institutions such as the portions of the National Energy Technology Laboratory and Forestry Science Laboratory in Morgantown, the Leetown Science Center and National Center for Cool and Cold Water Aquaculture in Leetown, National Radio Astronomy Observatory in
Green Bank A green bank (sometimes referred to as green investment bank, clean energy finance authority, or clean energy finance corporation) is a financial institution, typically public or quasi-public, that uses innovative financing techniques and market ...
, the Forest Service Timber and Watershed Laboratory in
Parsons Parsons may refer to: Places In the United States: * Parsons, Kansas, a city * Parsons, Missouri, an unincorporated community * Parsons, Tennessee, a city * Parsons, West Virginia, a town * Camp Parsons, a Boy Scout camp in the state of Washingt ...
, the Appalachian Farming Systems Research Center in Beckley, West Virginia District Office of Water Resources in Charleston, and Department of Veterans Affairs R&D units in Clarksburg and Huntington.
West Virginia University West Virginia University (WVU) is a public land-grant research university with its main campus in Morgantown, West Virginia. Its other campuses are those of the West Virginia University Institute of Technology in Beckley, Potomac State Coll ...
is home to research institutions such as the Blanchette Rockefeller Neurosciences Institute, Robert C. Byrd Cancer Research Laboratory, Center for Identification Technology Research, and the National Research Center for Alternative Fuels, Engines and Emissions. The Mid-Atlantic Technology, Research and Innovation Center, or MATRIC, is headquartered in South Charleston. In December 2010, the West Virginia Higher Education Policy Commission began a $23 million renovation of a research park formerly home to Dow Chemical. The state has one of the nation's highest concentrations of chemical supply and generic pharmaceutical industries aided by the presence of corporations such as
Germany Germany,, officially the Federal Republic of Germany, is a country in Central Europe. It is the second most populous country in Europe after Russia, and the most populous member state of the European Union. Germany is situated betwe ...
-based
BASF BASF SE () is a German multinational chemical company and the largest chemical producer in the world. Its headquarters is located in Ludwigshafen, Germany. The BASF Group comprises subsidiaries and joint ventures in more than 80 countries ...
and Bayer, DuPont, PPG Industries, Dow Chemical Company,
Mylan Mylan N.V. was a global generic and specialty pharmaceuticals company. In November 2020, Mylan merged with Upjohn, Pfizer's off-patent medicine division, to form Viatris. Previously, the company was domiciled in the Netherlands, with principal e ...
, founded in White Sulphur Springs, and Texas-based Alcon.


Energy

West Virginia's economy depends heavily on its mineral resources so the declining coal production and low energy prices in recent years have hurt the state's economy. Mining safety and ecological concerns are also major challenges to West Virginia, which still produces the majority of the coal used in the U.S. West Virginia is considered a national energy hub, leading the nation in net interstate electricity exports and underground coal mine production, while experiencing a growing natural gas industry as a result of the Great Shale Gas Rush. Overall, it produces 15% of the nation's fossil fuel energy. The state's underground natural gas storage represents 6% of the nation's total, and overall it has 5.1 billion cubic feet of
natural gas Natural gas (also called fossil gas or simply gas) is a naturally occurring mixture of gaseous hydrocarbons consisting primarily of methane in addition to various smaller amounts of other higher alkanes. Low levels of trace gases like carbo ...
reserves through 2008 estimates. West Virginia was one of the first states to engage in drilling for oil. Small to medium oil and natural gas fields still exist and are scattered mostly in the
Allegheny Plateau The Allegheny Plateau , in the United States, is a large dissected plateau area of the Appalachian Mountains in western and central New York (state), New York, northern and western Pennsylvania, northern and western West Virginia, and eastern Oh ...
and the Cumberland Plateau in an arc throughout the western part of state. The state produces around 180,000 barrels of oil per month, with 23 million barrels of reserves through 2008 estimates. The state has a growing renewable energy portfolio, anchored by chemical and
biodiesel Biodiesel is a form of diesel fuel derived from plants or animals and consisting of long-chain fatty acid esters. It is typically made by chemically reacting lipids such as animal fat ( tallow), soybean oil, or some other vegetable oil ...
manufacturer AC & S, based in
Nitro Nitro may refer to: Chemistry *Nitrogen, a chemical element and a gas except at very low temperatures, with which many compounds are formed: **Nitro compound, an organic compound containing one or more nitro functional groups, -NO2 **Nitroalkene, ...
. Through 2009 Columbus-based
American Electric Power American Electric Power (AEP), (railcar reporting mark: AEPX) is a major investor-owned electric utility in the United States, delivering electricity to more than five million customers in 11 states. AEP ranks among the nation's largest g ...
was the fifth largest employer in the state, followed by Consolidation Coal Company at #9, Allegheny Energy Service Corporation #19, Eastern Associated Coal Corporation #31, Columbia Gas Transmission Corporation #40, Hobet Mining, LLC #45, Spartan Mining Company #48, and Elk Run Coal Company, Inc. #50.


Coal

As of 2017, the coal industry accounted for 2% of state employment.
Coal Coal is a combustible black or brownish-black sedimentary rock, formed as rock strata called coal seams. Coal is mostly carbon with variable amounts of other elements, chiefly hydrogen, sulfur, oxygen, and nitrogen. Coal is formed when ...
is one of the state's primary natural resources, first discovered in the state in 1742. The industry employs 30,000 West Virginians directly, resulting in $2 billion in wages and a $3.5 billion economic impact. West Virginia coal exports declined 40% in 2013, representing a decrease of $2.9 billion in export sales. West Virginia is the largest coal producer east of the
Mississippi River The Mississippi River is the second-longest river and chief river of the second-largest drainage system in North America, second only to the Hudson Bay drainage system. From its traditional source of Lake Itasca in northern Minnesota, it fl ...
, and accounts for 10% of the nation's production. It leads the nation in coal production from underground mines, and has the nation's second largest reserves behind Wyoming. West Virginia has an annual 13 million barrel
coal-to-liquid Coal liquefaction is a process of converting coal into liquid hydrocarbons: liquid fuels and petrochemicals. This process is often known as "Coal to X" or "Carbon to X", where X can be many different hydrocarbon-based products. However, the most c ...
fuel production capacity. It has an extensive network of
railroad Rail transport (also known as train transport) is a means of transport that transfers passengers and goods on wheeled vehicles running on rails, which are incorporated in tracks. In contrast to road transport, where the vehicles run on a pre ...
s, and much of the coal is transported by rail. The railways were once one of the largest customers for coal to drive the steam locomotives, but these have been replaced by diesel locomotives. Coal is rarely used now for home heating. Most coal today is used by
power plants A power station, also referred to as a power plant and sometimes generating station or generating plant, is an industrial facility for the generation of electric power. Power stations are generally connected to an electrical grid. Many pow ...
to produce
electricity Electricity is the set of physical phenomena associated with the presence and motion of matter that has a property of electric charge. Electricity is related to magnetism, both being part of the phenomenon of electromagnetism, as describ ...
, both in West Virginia, and in other eastern states.


Alternative energy

The state has a growing renewable energy portfolio, anchored by chemical and biodiesel manufacturer AC & S, based in
Nitro Nitro may refer to: Chemistry *Nitrogen, a chemical element and a gas except at very low temperatures, with which many compounds are formed: **Nitro compound, an organic compound containing one or more nitro functional groups, -NO2 **Nitroalkene, ...
. The National Research Center for Alternative Fuels, Engines and Emissions is located in Morgantown.
Mountaineer Wind Energy Center Mountaineer Wind Energy Center is a wind farm on Backbone Mountain in Preston and Tucker counties in the U.S. state of West Virginia. When it came online in December 2002, Mountaineer was the first wind farm in West Virginia, and the largest east ...
located in
Preston County Preston County is a County (United States), county located in the U.S. state of West Virginia. As of the 2020 United States census, 2020 Census, the population was 34,216. Its county seat is Kingwood, West Virginia, Kingwood. The county was form ...
and
Tucker County Tucker County is a county in the U.S. state of West Virginia. As of the 2020 census, the population was 6,762, making it West Virginia's fourth-least populous county. Its county seat is Parsons. The county was created in 1856 from a part of ...
was the first
wind farm A wind farm or wind park, also called a wind power station or wind power plant, is a group of wind turbines in the same location used to produce electricity. Wind farms vary in size from a small number of turbines to several hundred wind turb ...
built in the state in 2002. The
Beech Ridge Wind Farm The Beech Ridge Wind Farm in Greenbrier County, West Virginia, is a 100 MW generating facility with 67 GE 1.5 MW wind turbines. The tall wind turbines, are placed along Shellcamp, Smokehouse, Beech, Rockcamp and Big ridges and Cold Knob, Old Fiel ...
is a $300 million, 119 turbine project currently under construction in
Greenbrier County Greenbrier County () is a county in the U.S. state of West Virginia. As of the 2020 census, the population was 32,977. Its county seat is Lewisburg. The county was formed in 1778 from Botetourt and Montgomery counties in Virginia. History P ...
. The
Mount Storm Wind Farm The Mount Storm Wind Farm is located 120 miles west of Washington, D.C. in Grant County, West Virginia. The wind farm includes 132 Gamesa G80 wind turbines each with a two megawatt (MW) capacity along 12 miles of the Allegheny Front. Constructi ...
is located in
Grant County Grant County may refer to: Places ;Australia * County of Grant, Victoria ;United States *Grant County, Arkansas *Grant County, Indiana * Grant County, Kansas *Grant County, Kentucky *Grant County, Minnesota *Grant County, Nebraska *Grant C ...
and operates 132 turbines. West Virginia is home to several hydroelectric facilities, including Honeywood Dam on the
Potomac River The Potomac River () drains the Mid-Atlantic United States, flowing from the Potomac Highlands into Chesapeake Bay. It is long,U.S. Geological Survey. National Hydrography Dataset high-resolution flowline dataThe National Map. Retrieved Augu ...
, Cheat Lake Dam in Monogalia County, and Summersville Dam on the
Gauley River The Gauley River is a river in West Virginia. It merges with the New River to form the Kanawha River, a tributary of the Ohio River. The river features numerous recreational whitewater areas, including those in Gauley River National Recreation Ar ...
.
Google Google LLC () is an American Multinational corporation, multinational technology company focusing on Search Engine, search engine technology, online advertising, cloud computing, software, computer software, quantum computing, e-commerce, ar ...
has invested in research exploration of the state's geothermal reserves.


Aerospace

Major aerospace employers in the state include
Pratt and Whitney Pratt & Whitney is an American aerospace manufacturer with global service operations. It is a subsidiary of Raytheon Technologies. Pratt & Whitney's aircraft engines are widely used in both civil aviation (especially airlines) and military av ...
located in
Bridgeport Bridgeport is the most populous city and a major port in the U.S. state of Connecticut. With a population of 148,654 in 2020, it is also the fifth-most populous in New England. Located in eastern Fairfield County at the mouth of the Pequonnoc ...
, Lockheed Martin in Clarksburg,
United Technologies United Technologies Corporation (UTC) was an American multinational conglomerate headquartered in Farmington, Connecticut. It researched, developed, and manufactured products in numerous areas, including aircraft engines, aerospace systems, ...
in
Union Union commonly refers to: * Trade union, an organization of workers * Union (set theory), in mathematics, a fundamental operation on sets Union may also refer to: Arts and entertainment Music * Union (band), an American rock group ** ''Un ...
,
Canada Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by tot ...
-based
Bombardier Aerospace Bombardier Aviation is a division of Bombardier Inc. It is headquartered in Dorval, Quebec, Canada. Its most popular aircraft included the Dash 8 Series 400, CRJ100/200/440, and CRJ700/900/1000 lines of regional airliners, and the newer CS ...
in Bridgeport, Alliant Techsystems, FCX Systems in Morgantown, and FMW Composite Systems and Aurora Flight Sciences of West Virginia in Bridgeport.


Healthcare and education

In 2009, West Virginia University Healthcare alone had an economic impact of $2.2 billion on the state and was the #23 employer. West Virginia United Health System was the #2 employer in 2009, ahead of
Charleston Area Medical Center Charleston Area Medical Center (CAMC) is the name of a complex of hospitals in Charleston, West Virginia, formed via a merger of previously independent facilities. It is the state's largest hospital. Charleston Area Medical Center is the primar ...
at #3, St. Mary's Hospital #7, Cabell Huntington Hospital, Inc. #12, Wheeling Hospital #14, and Camden-Clark Memorial Hospital #24. In 2008, public higher education institutions had a $7.9 billion economic impact on the state, creating 40,600 employment positions. Private higher education institutions had a $345 million economic impact on the state in 2004, creating 6,258.


Chemicals and materials

Along the western edges of the state the large rivers of the mid-continent erode a distance into the hills and it is here, in the west, that some dense pockets of heavy industry appear. In the
Kanawha River The Kanawha River ( ) is a tributary of the Ohio River, approximately 97 mi (156 km) long, in the U.S. state of West Virginia. The largest inland waterway in West Virginia, its valley has been a significant industrial region of the st ...
Valley near Charleston and along the southern Ohio River Valley near Huntington chemicals predominate, attracted by a readily available labor force and access by
barge Barge nowadays generally refers to a flat-bottomed inland waterway vessel which does not have its own means of mechanical propulsion. The first modern barges were pulled by tugs, but nowadays most are pushed by pusher boats, or other vessels ...
carriers. Metallurgy, especially steel, has been predominant in the Northern Panhandle due to a spill-over effect from the traditional center of the US steel industry in
Pittsburgh Pittsburgh ( ) is a city in the Commonwealth of Pennsylvania, United States, and the county seat of Allegheny County. It is the most populous city in both Allegheny County and Western Pennsylvania, the second-most populous city in Pennsylva ...
. The state is a global chemical hub, cited by the Council of American States in Europe as one of North America's premier destinations,"West Virginia-Chemicals, Plastics, and Rubbers"
Council of American States in Europe. 2010. Accessed December 11, 2010
with the presence of DuPont, Germany-based Bayer and Stockmeier Kunststoffe GmbH; a subsidiary of Japan-based Kureha, Ashland Specialty Chemical, Flexsys, and
Brazil Brazil ( pt, Brasil; ), officially the Federative Republic of Brazil (Portuguese: ), is the largest country in both South America and Latin America. At and with over 217 million people, Brazil is the world's fifth-largest country by area ...
-based
Braskem Braskem is a Brazilian petrochemical company headquartered in São Paulo. The company is the largest petrochemical company in Latin America and has become a major player in the international petrochemical market (8th largest resin producer worldw ...
S.A. West Virginia has 80% community acceptance from the chemical industry nationwide, one of the highest in the nation. The chemicals industry accounts for one-fifth of manufacturing sector jobs and nearly 40% of the manufacturing sector's economic output in West Virginia. West Virginia is home to steel and metal companies such as
Luxembourg Luxembourg ( ; lb, Lëtzebuerg ; french: link=no, Luxembourg; german: link=no, Luxemburg), officially the Grand Duchy of Luxembourg, ; french: link=no, Grand-Duché de Luxembourg ; german: link=no, Großherzogtum Luxemburg is a small lan ...
-based
ArcelorMittal ArcelorMittal S.A. is a Luxembourgian multinational steel manufacturing corporation headquartered in Luxembourg City. It was formed in 2006 from the takeover and merger of Arcelor by Indian-owned Mittal Steel. ArcelorMittal is the second la ...
in Weirton, Steel of West Virginia Inc. in Huntington,
Russia Russia (, , ), or the Russian Federation, is a transcontinental country spanning Eastern Europe and Northern Asia. It is the largest country in the world, with its internationally recognised territory covering , and encompassing one-eig ...
-based
Severstal Severstal (russian: Северсталь, , Northern Steel) is a Russian company mainly operating in the steel and mining industry, headquartered in Cherepovets. Severstal is listed on the Moscow Exchange and LSE and is the largest steel compan ...
in Wheeling, Japan-based Nisshin Inc. in Wheeling, Follansbee Steel in Follansbee,
Special Metals Corporation Special Metals Corporation (SMC) is an American supplier of special refractory alloys and is headquartered in New Hartford, New York, United States. The company has operations in Huntington, West Virginia; Dunkirk, New York; Burnaugh, Kentucky; ...
in Huntington, and Swanson Industries in Morgantown. In December 2010,
Russia Russia (, , ), or the Russian Federation, is a transcontinental country spanning Eastern Europe and Northern Asia. It is the largest country in the world, with its internationally recognised territory covering , and encompassing one-eig ...
-based
Mechel Mechel (russian: ПАО «Мечел») is one of Russia's mining and metals companies, comprising producers of coal, iron ore in concentrate, steel, rolled steel products. Headquartered in Moscow, it sells its products in Russia and overseas, and ...
announced plans to construct a new $12 million coal processing plant in McDowell County. It is home to one of the highest concentration of resin producers in the world.
General Electric General Electric Company (GE) is an American multinational conglomerate founded in 1892, and incorporated in New York state and headquartered in Boston. The company operated in sectors including healthcare, aviation, power, renewable en ...
Plastics is located in
Washington Washington commonly refers to: * Washington (state), United States * Washington, D.C., the capital of the United States ** A metonym for the federal government of the United States ** Washington metropolitan area, the metropolitan area centered o ...
.


Federal government

The FBI's
Criminal Justice Information Services Division The Criminal Justice Information Services Division (or CJIS) is a division of the United States Federal Bureau of Investigation (FBI) located in Clarksburg, Harrison County, West Virginia. The CJIS was established in February 1992 and is the lar ...
is located in Clarksburg, NASA's Independent Verification and Validation Facility in Fairmont, and the U.S. Department of Treasury's
Bureau of the Public Debt The Bureau of the Public Debt was an agency within the Fiscal Service of the United States Department of the Treasury. United States Secretary of the Treasury Timothy Geithner issued a directive that the Bureau be combined with the Financial M ...
is located in Parkersburg.


Automotive

Between 1990 and 2004, the state experienced $1 billion in investment in the sector and 1500+ new employment positions. It is home to major automotive operations such as Japan-based
Toyota is a Japanese multinational automotive manufacturer headquartered in Toyota City, Aichi, Japan. It was founded by Kiichiro Toyoda and incorporated on . Toyota is one of the largest automobile manufacturers in the world, producing about 10 ...
in Buffalo, and others including Diamond Electric in
Eleanor Eleanor () is a feminine given name, originally from an Old French adaptation of the Old Provençal name ''Aliénor''. It is the name of a number of women of royalty and nobility in western Europe during the High Middle Ages. The name was introd ...
since 1996 (in 2014 Diamond moved their North American headquarters to West Virginia), NGK Spark Plugs in Sissonville, and
Italy Italy ( it, Italia ), officially the Italian Republic, ) or the Republic of Italy, is a country in Southern Europe. It is located in the middle of the Mediterranean Sea, and its territory largely coincides with the homonymous geographical ...
-based Sogefi and Japan-based Okuno International in Prichard.


Manufacturing, printing, retail, and hospitality

West Virginia's largest manufacturing employer is
Viatris Viatris Inc. is an American global pharmaceutical and healthcare corporation headquartered in Canonsburg, Pennsylvania. The corporation was formed through the merger of Mylan and Upjohn, a legacy division of Pfizer, on November 16, 2020. The nam ...
, followed by
Toyota is a Japanese multinational automotive manufacturer headquartered in Toyota City, Aichi, Japan. It was founded by Kiichiro Toyoda and incorporated on . Toyota is one of the largest automobile manufacturers in the world, producing about 10 ...
,
Northrop Grumman Northrop Grumman Corporation is an American multinational aerospace and defense technology company. With 90,000 employees and an annual revenue in excess of $30 billion, it is one of the world's largest weapons manufacturers and military techn ...
and several other Fortune 500 companies that operate facilities in West Virginia, with Owens & Minor
Clorox The Clorox Company (formerly Clorox Chemical Company) is an American global manufacturer and marketer of consumer and professional products. As of 2020 the Oakland, California based company had approximately 8,800 employees worldwide. Net sales ...
and Commercial Metals Company breaking ground and expanding into the state during 2022. In December 2010,
Ohio Ohio () is a state in the Midwestern region of the United States. Of the fifty U.S. states, it is the 34th-largest by area, and with a population of nearly 11.8 million, is the seventh-most populous and tenth-most densely populated. The sta ...
-based
Macy's Macy's (originally R. H. Macy & Co.) is an American chain of high-end department stores founded in 1858 by Rowland Hussey Macy. It became a division of the Cincinnati-based Federated Department Stores in 1994, through which it is affiliated wi ...
announced plans to construct a 1.3 million square foot, $150 million distribution center in Berkeley County, creating 1,900 jobs. Manufacturing operations also include
Homer Laughlin China Company The Fiesta Tableware Company (formerly The Homer Laughlin China Company) is a ceramics manufacturer located in Newell, West Virginia, United States. Established in 1871, it is widely known for its Art Deco glazed dinnerware line, Fiesta. In 2002 ...
in Newell,
Blenko Glass Company Blenko Glass Company, located in Milton, West Virginia, is known for its artistic hand-blown glass. History William J. Blenko William J. Blenko was born in London, England in 1853. He worked at a glass factory in his youth. In 1893, he em ...
in Milton, Champion Industries in Huntington, Gabriel Brothers in Morgantown,
MTR Gaming Group MTR Gaming Group was a gaming company based in Chester, West Virginia that operated horse racing tracks and racinos. It was formed on March 7, 1988, in Wilmington, Delaware. On September 19, 2014, it merged with Eldorado Holdco LLC, forming El ...
is Chester, and PNGI Charles Town Gaming.


Media and telecommunications

Major media entities in the state include
Marquee Cinemas Marquee Cinemas is a chain of movie theaters in the Eastern United States. Currently, the chain consists of theaters in these cities: *Cape Coral, Florida *Glasgow, Kentucky *Toms River, New Jersey *New Hartford, New York *Morganton, North Caroli ...
, which operates theatres from
Connecticut Connecticut () is the southernmost state in the New England region of the Northeastern United States. It is bordered by Rhode Island to the east, Massachusetts to the north, New York to the west, and Long Island Sound to the south. Its capita ...
to
Florida Florida is a state located in the Southeastern region of the United States. Florida is bordered to the west by the Gulf of Mexico, to the northwest by Alabama, to the north by Georgia, to the east by the Bahamas and Atlantic Ocean, and to ...
,
West Virginia Media Holdings West Virginia Media Holdings was a media company in West Virginia. It owned television stations in each of the four main media markets in the state, as well as a weekly newspaper. The group owned WOWK-TV in Huntington, WVNS-TV in Lewisburg, a ...
,
West Virginia Radio Corporation WVRC Media is a media corporation comprising radio stations and two radio networks based in the state of West Virginia. The company was known as the West Virginia Radio Corporation prior to a December 2021 rebranding. The company is controlle ...
in Morgantown,
West Virginia MetroNews West Virginia MetroNews is a radio network heard on many radio stations throughout the State of West Virginia. The network is owned by the West Virginia Radio Corporation. West Virginia MetroNews offers a mix of news and talk. It held the ri ...
, and Ogden Newspapers in Wheeling, which operates publications from
Hawaii Hawaii ( ; haw, Hawaii or ) is a state in the Western United States, located in the Pacific Ocean about from the U.S. mainland. It is the only U.S. state outside North America, the only state that is an archipelago, and the only state ...
,
Florida Florida is a state located in the Southeastern region of the United States. Florida is bordered to the west by the Gulf of Mexico, to the northwest by Alabama, to the north by Georgia, to the east by the Bahamas and Atlantic Ocean, and to ...
,
Minnesota Minnesota () is a state in the upper midwestern region of the United States. It is the 12th largest U.S. state in area and the 22nd most populous, with over 5.75 million residents. Minnesota is home to western prairies, now given over to ...
and to New York. Terradon Communications Group, located in Poca, is a leader in website design and development, with clients including Whirlpool International. Others include
Texas Texas (, ; Spanish: ''Texas'', ''Tejas'') is a state in the South Central region of the United States. At 268,596 square miles (695,662 km2), and with more than 29.1 million residents in 2020, it is the second-largest U.S. state by ...
-based Aegis Group.


Tourism

In 2010, tourism generated an economic impact of $4.27 billion and 44,400 employment positions. Major tourist attractions include state's premier skiing destinations such as
Snowshoe Mountain Snowshoe Mountain is a ski resort in the eastern United States, located in Snowshoe, West Virginia. The resort has skiable terrain across and covers a total area of in the Allegheny Mountains, which are a part of the vast Appalachian Mountain R ...
,
Canaan Valley Canaan Valley () is a large bathtub-shaped upland valley in northeastern Tucker County, West Virginia, USA. Within it are extensive wetlands and the headwaters of the Blackwater River which spills out of the valley at Blackwater Falls. It is a w ...
,
Winterplace Ski Resort Winterplace Ski Resort is a ski resort located in Ghent, West Virginia on Raleigh County's Flat Top Mountain. The southernmost ski resort in West Virginia, Winterplace is a popular attraction due to its proximity to Interstate 77. It operate ...
, Oblebay Resort, Elk River Touring Center, and White Grass Ski Touring Center. Other attractions include the
Huntington Museum of Art The Huntington Museum of Art is a nationally accredited art museum located in the Park Hills neighborhood above Ritter Park in Huntington, West Virginia. Housed on over 50 acres of land and occupying almost 60,000 square feet, it is the larges ...
, the
Mountain Quest Institute The Mountain Quest Institute (MQI) is a research, retreat and conference center (both business and academic) on in Pocahontas County, West Virginia (in Frost, near Marlinton) in the Allegheny Mountains of the United States. MQI claims three "q ...
in Pocahontas County, Avampato Discovery Museum in Charleston, the
Oglebay Institute Oglebay Institute is a 501(c)(3) non-profit organizationWest Virginia State Wildlife Center The West Virginia State Wildlife Center is a zoological park in French Creek, West Virginia. Operated by the West Virginia Division of Natural Resources, the Wildlife Center displays many of West Virginia's wildlife, including both native and i ...
in French Creek, Greenbrier Resort, Pete Dye Golf Club,
Samuel Taylor Suit Cottage The Samuel Taylor Suit Cottage, also known as the Berkeley Castle or Berkeley Springs Castle, is located on a hill above Berkeley Springs, West Virginia, United States. History The castle-like house was built for Colonel Samuel Taylor Suit ...
,
Blennerhassett Island Historical State Park Blennerhassett Island Historical State Park is a state park located on Blennerhassett Island, a small island in the Ohio River, located in Wood County, West Virginia, USA. The property was the site of a Palladian mansion owned by Harman Blenn ...
, Moncove Lake State Park, Camden Park in Huntington, West Virginia Zoo, West Virginia wine,
Prickett's Fort State Park Prickett's Fort State Park is a West Virginia List of West Virginia state parks, state park north of Fairmont, West Virginia, Fairmont, near the confluence of Prickett's Creek and the Monongahela River. The park features a reconstructed refuge fo ...
, Blackwater Falls State Park, the Mountaineer Race Track & Gaming Resort in Chester,
Mardi Gras Casino and Resort Mardi Gras Casino and Resort is a casino and greyhound racing venue located in the city of Nitro, West Virginia. It is located just off the Cross Lanes exit of I-64, 14 miles west of Charleston, West Virginia and 36 miles east of Huntington, West ...
near
West Virginia West Virginia is a state in the Appalachian, Mid-Atlantic and Southeastern regions of the United States.The Census Bureau and the Association of American Geographers classify West Virginia as part of the Southern United States while the B ...
, Wheeling Island Racetrack & Gaming Center, Hollywood Casino-Charlestown, the Scottish Heritage Festival in Bridgeport, Italian Heritage Festival,
Vandalia Gathering The Vandalia Gathering is a popular festival devoted to old-time and bluegrass music, as well as related arts such as dance, quilt making, and cooking, which takes place each summer on the state capitol grounds in Charleston, West Virginia, Uni ...
in Charleston,
Appalachian String Band Music Festival The Appalachian String Band Music Festival (often referred to simply as "Clifftop") is a weeklong gathering of thousands of string band musicians and their friends from across the country and around the world, who each year since 1990 have assembl ...
, West Virginia Coal Festival in
Madison Madison may refer to: People * Madison (name), a given name and a surname * James Madison (1751–1836), fourth president of the United States Place names * Madison, Wisconsin, the state capital of Wisconsin and the largest city known by this ...
, the Johnny Johnson Blues and Jazz Festival, the Music in the Mountains Bluegrass Festival, the Appalachian Festival in Raleigh County, and the BBQ & Bluegrass Festival.


Agriculture and forestry

Farming is practiced throughout West Virginia, but in a form different from large extensive cash-crop agriculture elsewhere in the USA. The modal average farm size is a smallish 154 acres. Family and single-owner operation worked 92.7% of the farms, and an astounding 96.9% were totally or partly owned by the operator. On the other hand, only 50.5% of the state's farmers considered farming to be their primary occupation, with a significant number of hours worked elsewhere each year. The rural poverty rate in West Virginia is 20.4%, five points higher than the urban poverty rate. This description of farming portrays an independent and self-sufficient base of small land owners, but also a significant amount of rural poverty. As can be expected in a rugged terrain, raising animals was far more important than growing vegetative crops. Income from animals exceeded income from plants by about 7 to 1, with much of the non-animal income derived from sales of fodder. The chief animals raised were cattle and chickens. In the ridge and valley area along the eastern border near
Virginia Virginia, officially the Commonwealth of Virginia, is a state in the Mid-Atlantic and Southeastern regions of the United States, between the Atlantic Coast and the Appalachian Mountains. The geography and climate of the Commonwealth ar ...
's Shenandoah Valley, subsidiary valleys are wide and there are some belts of rich
soil Soil, also commonly referred to as earth or dirt Dirt is an unclean matter, especially when in contact with a person's clothes, skin, or possessions. In such cases, they are said to become dirty. Common types of dirt include: * Debri ...
which are extensively
farm A farm (also called an agricultural holding) is an area of land that is devoted primarily to agricultural processes with the primary objective of producing food and other crops; it is the basic facility in food production. The name is used ...
ed. In 2002, all of the top five counties by agricultural dollar value were located near the eastern Virginia border. In traditional frontier
agriculture Agriculture or farming is the practice of cultivating plants and livestock. Agriculture was the key development in the rise of sedentary human civilization, whereby farming of domesticated species created food surpluses that enabled people t ...
there was much gathering of wild "greens" and other vegetation to supplement the diet. One area where this practice is still significant is the gathering of wild North American
ginseng Ginseng () is the root of plants in the genus '' Panax'', such as Korean ginseng ('' P. ginseng''), South China ginseng ('' P. notoginseng''), and American ginseng ('' P. quinquefolius''), typically characterized by the presence of ginsenosides ...
, often for the Asian market. Wild gathered ginseng contributed about $2 million in 2000 to the West Virginia economy, a figure larger than many conventional cultivated vegetable and fruit crops. Other wild greens, such as sour dock, lambs quarters, and wild leek (or "ramps") are also still gathered by many for table use, although today more on the basis of
avocation An avocation is an activity that someone engages in as a hobby outside their main occupation. There are many examples of people whose professions were the ways that they made their livings, but for whom their activities outside their workplaces ...
or keeping up traditions than out of necessity. Forestry-based industries employ 15,600 West Virginians through major corporations such as
Atlanta Atlanta ( ) is the capital and most populous city of the U.S. state of Georgia. It is the seat of Fulton County, the most populous county in Georgia, but its territory falls in both Fulton and DeKalb counties. With a population of 498,715 ...
-based
Georgia Pacific Georgia-Pacific LLC is an American pulp and paper company based in Atlanta, Georgia, and is one of the world's largest manufacturers and distributors of tissue, pulp, paper, toilet and paper towel dispensers, packaging, building products and r ...
in Mount Hope,
Seattle Seattle ( ) is a seaport city on the West Coast of the United States. It is the seat of King County, Washington. With a 2020 population of 737,015, it is the largest city in both the state of Washington and the Pacific Northwest regio ...
-based
Weyerhauser Weyerhaeuser () is an American timberland company which owns nearly of timberlands in the U.S., and manages an additional of timberlands under long-term licenses in Canada. The company also manufactures wood products. It operates as a real e ...
in
Heaters A heater is an appliance whose purpose is to generate heat for a building. Heater or Heaters may also refer to: Science, technology and engineering * Central heating, a system used to heat an entire building Devices * Aquarium heater, in fishke ...
,
North Carolina North Carolina () is a state in the Southeastern region of the United States. The state is the 28th largest and 9th-most populous of the United States. It is bordered by Virginia to the north, the Atlantic Ocean to the east, Georgia and ...
-based Coastal Lumber with several locations throughout the state,
Virginia Virginia, officially the Commonwealth of Virginia, is a state in the Mid-Atlantic and Southeastern regions of the United States, between the Atlantic Coast and the Appalachian Mountains. The geography and climate of the Commonwealth ar ...
-based American Woodmark in Moorefield, and
Pittsburgh Pittsburgh ( ) is a city in the Commonwealth of Pennsylvania, United States, and the county seat of Allegheny County. It is the most populous city in both Allegheny County and Western Pennsylvania, the second-most populous city in Pennsylva ...
-based Babcock Lumber Company with multiple locations throughout the state


Banking

Due to the rural demographics in West Virginia, the state isn't dominated by any major U.S. banks. In fact, the only Big Four bank with any retail banking presence in the state is
JP Morgan Chase JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City and incorporated in Delaware. As of 2022, JPMorgan Chase is the largest bank in the United States, the w ...
, and only in the Charleston area. Wesbanco is the largest bank in the state, and the only major bank with a presence throughout the state. City National Bank (West Virginia) also has a significant presence in several areas in West Virginia. Other major banks in the state, but only in certain areas, include Chase,
Fifth Third Bank Fifth Third Bank (5/3 Bank), the principal subsidiary of Fifth Third Bancorp is an American bank holding company headquartered in Cincinnati, Ohio. Fifth Third is one of the largest consumer banks in the Midwestern United States, Fifth Third ...
in Charleston and PNC Financial Services in Morgantown.


References

{{Economy of the United States by jurisdiction