Are you planning on doing business in West Virginia? Your company may find the state to be a challenging business environment. West Virginia's economy is one of the weakest economies in the entire United States. Only Mississippi's economy is less robust, overall, than West Virginia. The primary natural resource of the state of West Virginia is coal.
The state has an extensive railroad network, and much of the coal mined in West Virginia is transported by rail. Most of the coal mined in West Virginia is destined to go to power plants that produce electricity, both in West Virginia and in other states. Prospects are good for coal, as new clean coal technology promises electricity without contributing inordinately to greenhouse gas concentrations in the atmosphere. This should have a positive impact on the economy of West Virginia. West Virginia was one of the first states to drill for oil, and small to medium oil and natural gas fields still exist, mostly in an arc throughout the western part of the state.
Farming is a major part of the economy of the state, but not in the large, cash crop oriented way that it is performed in many other states. Farms are smallish, typically in the 140 to 180 acre range. 92.7 percent of the farms are family farms or single-owner farms, but only about 50 percent of these consider farming to be their primary occupation. Given the rugged terrain, it's hardly surprising that livestock play a more important role in the economy than vegetative crops. Interestingly, one of the most significant agricultural products from West Virginia is wild North American ginseng, typically culled for Asian markets. Wild ginseng accounted for about $2 million of the West Virginia economy in 2000.
In the western part of the state are some dense pockets of heavy industry. Charleston, along the Kanawha River Valley, and along the southern Ohio River Valley, the chemical industry has many plants, drawn to the area by the available labor force and transportation via river barge. Metallurgy, especially steel, is significant especially in the Northern Panhandle of the state. Thus although West Virginia is not a state that immediately springs to mind when you think of economic opportunity, there are opportunities in the state nonetheless.
Serviced Offices in West Virginia
Are you planning on doing business in West Virginia? Your City Office has office space available to meet your needs. If, for example, you plan to do business in Charleston, your business will benefit from the executive offices that Your City Office can provide there. There is both long term and temporary office space available. A good example is the Summers Street location, an ideal place to conduct business, with a convenient location near the Charleston city hall and many banks. The facilities include car parking and other amenities. Your City Office also gets many special offers, especially if you are looking for a virtual office in the state of West Virginia. |
