MAXWELTON W.Va. (WVDN) – After receiving two BUILD WV designations in the region, the Greenbrier Valley EDC and its partners are offering two chances for developers and interested parties to learn more about the program on Tuesday, Feb. 6. Meghan Smith with the WV Department of Economic Development will present program specifics and can answer questions about projects.
10 a.m. Greenbrier Valley Ascend Office – 774 Court Street, Lewisburg.
2 p.m. at the Wellness Center – 320 9th Street, Marlinton.
The Build WV Act was created to encourage housing development by offering incentives in designated Build WV districts. The Greenbrier Valley includes two certified districts, that include most of Greenbrier and Pocahontas Counties and part of Monroe County (see map).
According to the Build WV Code (WV §5B-2L-16), projects eligible for the BUILD WV Act will be located in a certified district: include at least six residential units or houses OR generate approved costs in excess of $3,000,000: create a significant and positive economic impact on the state; improve opportunities for commercial businesses and provide additional employment opportunities.
Qualifying projects within the district are eligible to receive a sales tax exemption for building materials as well as a 10-year property value adjustment refundable tax credit to offset building costs. BUILD WV Act was passed by Legislature in 2022 and expanded in 2023.
Interested housing developers are encouraged to RSVP to one of the events by calling (304) 4974300 or registering online at https://bit.ly/BuildWVGreenbrier for the 10 a.m. meeting and https://bit.ly/BuildWVPocahontas for the 2 p.m. meeting.
Refreshments will be provided. The event is free and open to the public.
Greenbrier Valley EDC would like to thank Ascend WV, the Pocahontas County CVB, and the WV Department of Economic Development, who have been instrumental in supporting this program and bringing information to our communities.
