CHARLESTON, W.Va. (AP) — West Virginia’s Senate on Monday approved a tax incentive for a potential industrial manufacturing project in anticipation of a major jobs announcement.
Gov. Jim Justice said in his special session proclamation Saturday night that the tax incentive would be for potential major future industrial development in the state. The incentive would be based upon “very significant investment and employment thresholds” for labor and heavy industrial facilities, he said.
The senators, meeting in a special session called by Justice, also voted to transfer funds to the state Department of Economic Development from various agencies, which then were allocated unappropriated federal funds. The House of Delegates advanced its versions of the legislation to second readings before adjourning Monday night.
Justice said the funding appropriations “will pay untold dividends in recruiting businesses, their employees and families, and further private investment in West Virginia.”
“When we find a good prospect offering investment, jobs, and growth, therefore, it is paramount that the state does its best to compete for that business — for investment, jobs, and growth,” Justice said.
Justice will give his State of the State speech Wednesday night, when he said he plans to make the announcement.