New Law Offers Home Construction Incentives To Compliment Economic Development Push

Updated on Monday, April 4, 2022 at 9:30 a.m.

New West Virginia home construction incentives could offset housing shortages for middle-class, skilled workers.

Gov. Jim Justice signed the Build WV bill into law Friday at the West Virginia Home Show.

“We know there are places in our state that are wonderful places to live and raise a family, but may be short on homes,” Justice said at a press conference Friday. “So we needed to find a way to incentivize our builders to step up; to stimulate more home development. That’s exactly what this bill is going to do. We don’t want to sit back. We need to be proactive. We need to show ourselves off. Then the people will follow.”

The measure offers incentives to meet middle-income housing needs in key economic development areas of the state.

State lawmakers say that key geographic areas of the state are on the verge of a burgeoning expansion for economic development. Some areas are expecting growth in technical, industrial, and commercial markets.

The bill’s co-sponsor, Del. Doug Skaff, D-Kanawha said the law addresses the needs of corporations now locating in West Virginia or considering West Virginia as a place for expansion. He said educated workers will need homes, especially in underdeveloped areas.

“Your high paying jobs go to those who are going to need new houses, and some people might relocate there from other parts of West Virginia,” Skaff said. “So this bill will designate different areas around the state where they’ve identified that there’s really not a lot of adequate housing to fit everyone’s needs.”

Build WV incentives include property tax credits for eligible taxpayers.

and City Business and Occupation business tax exemptions.

Build WV housing construction incentives will also include tax credits and help with covering the rising cost of materials like drywall, shingles and windows.

*Editor’s note: This story has been updated from its original version to include a quote from the governor given at a press conference on Friday, April 1, 2022.