Creating the Office of Entrepreneurship within the Office of Economic Development

HB 2844 creates a new Office of Entrepreneurship within West Virginia's Office of Economic Development to specifically support businesses operating less than five years. The office will help these new businesses navigate state agencies, track state contracts awarded to them, and report annually on contract distribution - including breakdowns by business type, location, and ownership (such as women, minority, or veteran-owned businesses). It requires that 5% of state contracts go to new local businesses and mandates annual reports to the legislature on progress toward this goal. The bill aims to improve access to state contracts and entrepreneurship resources for emerging businesses across the state.