BUILD WV Program Will Lead to Job Creation, Business Attraction, and Economic Boost in Preston County

Preston County has seen notable growth in the last ten years. Between the 2010 and 2020 censuses, we saw a population increase of nearly 4% – just one of 7 counties in the state that saw growth. With population growth comes an increased demand for jobs and housing. And with increased demand comes more opportunities, a stronger local economy, and a thriving community.

Earlier this year, resulting from collaborative efforts between the Preston County Economic Development Authority (PCEDA) and the Morgantown Area Partnership, Preston and Monongalia Counties achieved the Certified BUILD WV District designation.  

What is BUILD WV?

BUILD WV is a Housing Development Tax Credit established with the BUILD WV Act in 2022 and expanded by Governor Jim Justice in 2023. Its purpose is to assist West Virginia’s growing communities in attracting much-needed housing development projects. Projects within West Virginia’s BUILD WV Districts benefit from a State Sales and Use Tax exemption and a 10-year property value adjustment refundable tax credit to help offset building costs.

“Our vision for Preston County is to create the best environment possible to attract new businesses and residents to the area,” said Roberta “Robbie” Baylor, Executive Director of PCEDA. “We’re investing in projects that extend infrastructure, like water, sewer, and broadband, to foster site growth for residential and commercial development. The BUILD WV program adds even more incentive for residential developers looking for their next site.”

Neighborhood Growth = Workforce Growth = Business Growth

“Development must happen concurrently between residential and business,” said Robbie. “In order to grow the workforce, there needs to be a place for the workforce to live. On the flip side, there have to be places for that workforce to work. West Virginia and Preston County offer many incentives, grants, and support for businesses. The BUILD WV designation adds an extra layer so that businesses know we’re ready for and investing in residential development.”

BUILD WV has a list of criteria for those projects that want to take advantage of its incentives. Projects must:

• Generate an approved cost of more than $3 million or include at least six units or houses.
• Create a significant positive economic impact on the state of West Virginia.
• Improve opportunities for the successful establishment or expansion of other commercial businesses in the area where the project will be located.
• Provide additional employment opportunities in the state.

The economic boost from the BUILD WV program extends well beyond job creation and new business. The program’s tax incentives reduce the financial burden on developers, which encourages more or larger projects to commence. These developments create a positive feedback loop: more jobs and businesses attract more residents, necessitating more development and leading to a more sustainable economy in Preston and Monongalia Counties.

Preston County: The Center of BUILD WV

Preston County and Monongalia County are bordered to the north by Pennsylvania. Preston County is bordered to the east by Maryland. Development projects within a 20-mile radius of the BUILD WV District’s central point are eligible for the program benefits as long as they are located in West Virginia. That is why Browns Mill was selected as the center point for the BUILD WV district. It maximizes the coverage area and includes most of Preston and Monongalia Counties, as well as parts of Marion and Taylor Counties.

The BUILD WV designation is one more giant step in developing a sustainable economy in our region. With the promise of new jobs, thriving businesses, and a robust local economy, the future looks bright for Preston County.

Ready to bring your development plans to Preston County? Learn more about our services and resources at PCEDA by visiting our website. If you’re interested in learning more about the BUILD WV Designation and how to apply for the program in Preston County, reach out to Robbie Baylor at 304-329-2299 or by email at pceda@prestonwva.com.