West Virginia Stories and Impact

State Fact Sheet

Note: the jobs totals in this fact sheet are through 2015 and they include a combination of direct, indirect, and induced FTE jobs and construction jobs. The “total investment” number refers to the total project investment (not NMTC allocation) in the state through the second quarter of 2020.

The NMTC is a pivotal tool that seriously assists in economic development. From a creditors standpoint it reduces the risk in the investment of financing the project. From a developers standpoint the NMTC can be the triggering factor to make the overall a project move forward. The NMTC projects create growth in the economy, especially in distressed and underserved markets that are in dire need to investments. This types of economic development tools are critical to allow for future growth. MVB Community Development Corporation is fully supportive of the NMTC and has seen firsthand of how these types of credits can and will continue to foster growth.

-Martin Howe, President, MVB Bank Community Development Corporation, Clarksburg, WV Tweet This

Community Testimonials​

West Virginia NMTC Videos

West Virginia NMTC Stories

2020
The borrower was seeking funding to remodel the lower floor of a medical building. This remodel allowed for the addition of doctors and staff….
2020
The borrower was seeking funding for the purchase and installation of a software system used across the entirety of their parent institution. Funding assisted…
2020
Construction of modern professional office space in downtown Buckhannon, WV consisting of modern amenities and technology along with fiber gigabit connectivity. The use of…
2020
Financing certain costs incurred or to be incurred in connection with the renovation and development of public library. Adding 20,000 square feet to library…
2020
The borrower was seeking funding for the purchase and installation of a software system used across the entirety of their parent institution. Funding assisted…
2020
A few years ago there was a flood in White Sulphur Springs, WV that destroyed the town. While they rebuilt homes, they knew that…
2002
Rehab of the Wheeling Stamping Building in Wheeling, West Virginia, a 94,000 sq. ft. brick warehouse….
2019

Welch, WV 

NMTC brings first new commercial or residential development in the community in 50 years to Welch, WV….
2018

Multi-county, WV 

For over 40 years, The Lyme Timber Company LP has invested in US timberland….
2009
Financing for Allegheny Wood Products, Inc. an operator of six sawmills in three states….
2017
Rehabilitation of a historic theater into a modern performing arts and education center with seating for 950, 200 guest ballroom, and classrooms….
2005
Schoenbaum Family Enrichment Center, Inc provides versatile space to be shared by a community….
2018
Rural Development Partners and the National Development Council used the NMTC to help West Virginia Great Barrel Company (WVGBC) construct a new barrel manufacturing…