West Virginia is an attractive location for a number of different industries. In fact, the state has successful businesses in many sectors. Four of West Virginia’s primary industries include energy, chemical manufacturing, automotive, and aerospace. The state’s location in the middle of the north east region provides great access for truck and train traffic for incoming supplies and outgoing products. There are also hundreds of miles of navigable water ways including access to the great lakes for shipping products. This state also has an extremely low employee turnover, which is one of the many drivers for companies to do business in West Virginia.
Energy is another huge business sector for West Virginia and is made up of both old and new companies. The number two provider of coal in the United States and a huge natural gas producer this state is also developing a wind energy sector very quickly. Home to Beach Ridge Energy, LLC wind farm and three wind farms in additions to more permits for wind farms being filed this is a huge sector of business for this state. The Appalachian Power Company is also produces and provides electricity here. In Charleston, independent oil producer, Cunningham Energy has successfully been exploring and extracting oil.
The automotive industry is another large business sector in West Virginia. There are at least nine fairly large to large companies in West Virginia involved in the automotive industry. Gestamp, Toyota Motor, NGK spark Plugs and Diamond Electric are just a few.
The fastest growing large business sector of West Virginia has to be the aerospace industry. These type companies are attracted by the availability of natural resources and experienced workers in the area. There are several aerospace companies in the state and more expected to locate here. Lockheed Martin has a facility here, as well as, Alliant Technologies, Aurora Flight Services, and Bombardier Aerospace to name a few companies here in the aerospace industry.
In the chemical manufacturing industry, West Virginia has over 140 different companies, according to the West Virginia Department of Commerce. One of the reasons for a thriving chemical industry is an abundance of natural resources available in West Virginia. Some of the successful companies that do business here are DuPont Belle, Stockmeier Urethanes USA, and Bayer Material Science. These three companies alone provide almost 600 jobs to the state. This is an industry which provides nearly one fourth of the states multi-billion dollars exports to international consumers
West Virginia is a great state for businesses to locate due to its abundance of natural resource and employee traits. There is also a favorable tax situation for many businesses. The economy of this great state will keep growing well into the future.