West Virginia: Governor Signs Economic Development Legislation

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In late February, West Virginia Governor Patrick Morrisey signed the West Virginia First Small Business Growth Act into law. The law is designed to incentivise private investment, from what are referred to as “growth funds”, in the state’s small businesses, primarily through the use of tax credits. The legislation defines an “eligible business” as one that has “fewer than 250 employees and has its principal business operations in West Virginia”, and caps the total credits at $15 million per year.

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