HB 4008
Relating to Business Ready Sites Program
Take action
Record your position on this measure.
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill aims to strengthen the West Virginia Business Ready Sites Program, which focuses on preparing sites for industrial development. It expands the program’s ability to provide financial assistance – through grants and micro-grants – to improve the readiness of eligible sites. The bill also clarifies the process for utilities to receive funding to build necessary infrastructure for these sites, and establishes a dedicated fund to support these efforts. Ultimately, the goal is to make West Virginia more attractive to businesses looking to relocate or expand.
Key provisions
- Expands the West Virginia Business Ready Sites Program to include more sites.
- Creates a Certified Sites and Development Readiness Fund to provide financial assistance.
- Allows for matching grants up to 50% for site improvements, with a maximum grant amount.
- Establishes a micro-grant program for smaller site improvements, with maximum amounts based on site acreage.
- Outlines a process for utilities to apply for and receive funding to build infrastructure for industrial development sites.
- Defines key terms related to the program, such as ‘Industrial Development Site’ and ‘Utility’.
- Specifies how utilities can recover costs associated with infrastructure investments.
- Requires utilities to publish information about infrastructure plans and rate increases.
Who is affected
- Businesses and Industrial Developers
- The West Virginia Department of Economic Development
- Public Utility Companies
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yours