Monongalia and Preston Counties Achieve Certified BUILD WV District Designation
Contact: Russell “Russ” Rogerson, President & CEO
Morgantown Area Partnership
304-292-3311 ext. 1010
russ@morgantownpartnership.com
Roberta “Robbie” Baylor, PCED
Preston County Economic Development Authority
157 Plaza Court, Suite 8
Kingwood, WV 26537
304-329-2299
www.prestonwv.com
05/02/2024
Morgantown WV —
The Morgantown Area Partnership and the Preston County Economic Development Authority worked together to make much of both counties a BUILD WV territory by the State of West Virginia. Effective immediately, qualifying housing development projects within a 20-mile radius of Browns Mill, WV can receive State Sales and Use Tax exemptions for building materials and a 10-year property value adjustment refundable tax credit to offset building costs to encourage the construction of more housing in our area.
“As one of the fastest growing areas in the State, we need more housing for residents and we believe the BUILD WV program will help accelerate home construction development in the area,” said Russ Rogerson. “It’s important to add housing for all residents who want to call Monongalia County home.”
Passed in 2022 Legislative Session, the BUILD WV Act aims to assist West Virginia’s growing communities in attracting much-needed housing development projects. The West Viriginia Department of Development oversees the program and reviews all applications. All applications must be approved by James Bailey, Secretary of Commerce, Chelsea Ruby, Secretary of Department of Tourism, and Mitch Carmichael, Secretary of the Department of Economic Development.
Preston County has been working to attract and develop more housing through extending infrastructure like water, sewer and broadband,” said Robbie Baylor. “The BUILD WV program will help attract housing construction and we expect project announcements in the near future.”
The Browns Mill location was selected as the center point because it captured most of the land within the two counties and beyond. Both Monongalia County and Preston County are bordered to the north by Pennsylvania and Preston County is bordered to the east by Maryland which are not part of the BUILD WV program.
Projects eligible for the BUILD WV Act will meet the following criteria:
- Be in a certified BUILD WV Act District.
- Generate approved costs more than $3-million OR include at least six units or houses.
- Create a significant positive economic impact on the state.
- Will directly or indirectly improve opportunity in the area where the project will be located for the successful establishment or expansion of other commercial businesses.
- Provide additional employment opportunities in the state.
Visit http: wvlegislature.gov/wvcode/ for the entire list of approval considerations.
The 20-mile radius district covers most of Monongalia and Preston Counties in addition to parts of Marion County. Visit https://morgantownpartnership.com/economic-development/ for an unofficial map of the district area. All interested housing developers or contractors should contact Meghan Smith, 304-993-3564, meghan.e.smith@wv.gov.
Find out more about the Build WV Housing Development Tax Credit at https://westvirginia.gov
Photo of BuildWV Radius for Monongalia, Preston, Marion, & Taylor Counties
(Click here for interactive map)
