Establishing the Central West Virginia Economic Development and Rural Revitalization Act

HB 5668 establishes the Central West Virginia Economic Development and Rural Revitalization Program to address economic challenges in eight specific counties: Webster, Clay, Braxton, Roane, Calhoun, Wirt, Lewis, and Gilmer. The bill creates a state program within the Department of Commerce that provides grants, loans, and technical assistance for projects like business development, infrastructure improvements, broadband expansion, and tourism initiatives. It also introduces a 25% tax credit for businesses making qualified investments in the region that create or retain full-time jobs. Projects must be located in the designated counties and prioritize job creation, private funding leverage, and support for economically distressed communities.