Apr. 20—FAIRMONT — Federal, state and local governments have compiled quite the incentive package to do business in West Virginia.

Wednesday morning, potential developers from the state and different counties in the region gathered at Fairmont State University for the first Discover Marion County economic developers event. Guests were treated to panel discussions of successful development stories in the area, a tour of potential development sites around the county and given a deep dive into some of the incentives available to prospective businesses setting their eyes on Marion County and The Mountain State.

The panel on incentives was composed of West Virginia Tourism Grant Coordinator Amanda Legg, Fairmont Planning Director Shae Strait, historic preservation consultant Mike Gioulis and Workforce West Virginia Apprentice Coordinator Nicholas Nunnery.

At the local level, Strait went into detail about the potential write-offs and benefits the city offers to new businesses as well as bonuses offered to businesses that have a continued legacy in the city.

The city actually has a tax incentive written into its code for businesses or developers that redevelop or start a business in a building that is listed on the city's vacant building registry.

Depending on the amount invested to redevelop a vacant building qualifies a developer for different levels of business and occupation tax credits. If a business or developer invests $100,000 into a redevelopment project, for the first year that business is open, the city gives them a 100 percent B&O tax credit that then drops over the next four years.

The city also offers that same tax incentive for any building that has a raze or repair order that the property owner redevelops for use, as well as a similar rate for any designated historic buildings that are redeveloped.

"We often talk about success as growth... but I think there's another part to it and that's 'right sizing.' That's adjusting your community for where you are today and being successful with what you have," Strait said.

At the state level, Legg discussed a new grant program through the tourism department that encourages developers to build "destinations" near state and national parks.

This credit is a 25 to 35 percent credit of a business' sales and use taxes. The stipulation is that the developer must invest $1 million of private funds, federal grants or bonds into the project and the project must be near a state or national park and be considered a destination. Chain hotels and restaurants do not qualify, she said.

Another stipulation is that 25 percent of the business must be from out of state.

"The tourism development tax credit is one of the most generous tax credits that we have in the nation for tourism businesses," Legg said. "If you are looking at a million dollar business and you take 25 percent credit on your business, you'd get back $250,000 over a 10-year period."

West Virginia Main Street doesn't typically give grants itself but acts as a facilitator for businesses to find opportunities for deals and savings within the state, be it through grants or credits or other programs.

Gioulis said there are communities that are doing well with redevelopment that Marion County should attempt to emulate.

"In West Virginia we have 27 programs that are part of the Main Street community. There are some very successful ones and Morgantown is one of them. I don't say that to compare anybody," Gioulis said. "In Charleston there are two urban programs and I think some of their fundraising activities and some of their programmatic activities might apply well here in Fairmont."

For a list of potential grants from the state and other resources for businesses, visit grants.wv.gov.

Discover Marion was sponsored by the Marion Regional Development Corp., Main State Fairmont, Marion County Chamber of Commerce, Marion County Convention & Visitors Bureau, and Marion County Community and Economic Development and the City of Fairmont.

Reach David Kirk at 304-367-2522 or by email at dkirk@timeswv.com.