Батыс Вирджиния штатының экономикалық жағдайы

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The economy of West Virginia nominally would be the 62nd largest economy globally behind Iraq and ahead of Croatia according to 2009 World Bank projections, and the 64th largest behind Iraq and ahead of Libya according to 2009 International Monetary Fund projections. The state has a projected nominal GDP of $63.34 billion in 2009 according to the Bureau of Economic Analysis report of November 2010, and a real GDP of $55.04 billion. The real GDP growth of the state in 2009 of .7% was the 7th best in the country. West Virginia's economy accelerated in 2014 with a growth rate of 5.1%, ranking third among the fastest growing states in the United States alongside Wyoming and just behind North Dakota and Texas. In 2021, the state GDP was $72.48 billion, an increase over $69.71 billion in 2021. Morgantown was ranked by Forbes as the 10th best small city in the nation to conduct business in 2010, then as 73rd in its 2019 "The Best Small Places For Business And Careers" rankings. West Virginia's unemployment rate in August 2019 was 4.6%, the lowest since the start of the Great Recession. As a result of the COVID pandemic, West Virginia's unemployment rate had risen to 6.1% in December 2020, which, by November 2022, had improved from pre pandemic levels, reported at 4.1%.

The Appalachian Regional Commission was formed in 1965 to aide economic development in the Appalachian region, which was lagging far behind the rest of the nation on most economic indicators. The Appalachian region as defined by the Commission includes 420 counties in 13 states, including all 55 counties in West Virginia, the only state whose entire territory is covered by the Appalachian Regional Commission. The Commission gives each county one of five possible economic designations distressed, at risk, transitional, competitive, or attainment with "distressed" counties being the most economically endangered and "attainment" counties being the most economically prosperous. These designations are based primarily on three indicators three year average unemployment rate, market income per capita, and poverty rate. In 2003, West Virginia had a three year average unemployment rate of 5.7%, compared with 5.5% nationwide. In 2002, West Virginia had a per capita market income of $17,856, compared with $26,420 nationwide. In 2000, West Virginia had a poverty rate of 17.9%, compared to 12.4% nationwide. Fifteen counties in West Virginia were designated "distressed," and sixteen counties were designated "at risk." No county received the "attainment" designation, and only two Jefferson and Putnam were designated "competitive." Nineteen counties were designated "transitional," meaning they lagged behind the national average on one of the three key indicators. McDowell County had West Virginia's highest poverty rating (and the third highest in the entire Appalachian region), with 37.7% of its residents living below the poverty line. Kanawha County had West Virginia's highest per capita income at $25,170, and Monongalia had West Virginia's lowest unemployment rate at 2.7%.

West Virginia's economy depends heavily on its mineral resources so the declining coal production and low energy prices in recent years have hurt the state's economy. Mining safety and ecological concerns are also major challenges to West Virginia, which still produces the majority of the coal used in the U. S.

West Virginia is considered a national energy hub, leading the nation in net interstate electricity exports and underground coal mine production, while experiencing a growing natural gas industry as a result of the Great Shale Gas Rush. Overall, it produces 15% of the nation's fossil fuel energy.

As of 2017, the coal industry accounted for 2% of state employment. Coal is one of the state's primary natural resources, first discovered in the state in 1742. The industry employs 30,000 West Virginians directly, resulting in $2 billion in wages and a $3.5 billion economic impact. West Virginia coal exports declined 40% in 2013, representing a decrease of $2.9 billion in export sales. West Virginia is the largest coal producer east of the Mississippi River, and accounts for 10% of the nation's production. It leads the nation in coal production from underground mines, and has the nation's second largest reserves behind Wyoming. West Virginia has an annual 13 million barrel coal to liquid fuel production capacity. It has an extensive network of railroads, and much of the coal is transported by rail. The railways were once one of the largest customers for coal to drive the steam locomotives, but these have been replaced by diesel locomotives. Coal is rarely used now for home heating. Most coal today is used by power plants to produce electricity, both in West Virginia, and in other eastern states.

The state has a growing renewable energy portfolio, anchored by chemical and biodiesel manufacturer AC & S, based in Nitro.

Major aerospace employers in the state include Pratt and Whitney located in Bridgeport, Lockheed Martin in Clarksburg, United Technologies in Union, Canada based Bombardier Aerospace in Bridgeport, Alliant Techsystems, FCX Systems in Morgantown, and FMW Composite Systems and Aurora Flight Sciences of West Virginia in Bridgeport.

In 2009, West Virginia University Healthcare alone had an economic impact of $2.2 billion on the state and was the #23 employer. West Virginia United Health System was the #2 employer in 2009, ahead of Charleston Area Medical Center at #3, St. Mary's Hospital #7, Cabell Huntington Hospital, Inc. #12, Wheeling Hospital #14, and Camden Clark Memorial Hospital #24. In 2008, public higher education institutions had a $7.9 billion economic impact on the state, creating 40,600 employment positions. Private higher education institutions had a $345 million economic impact on the state in 2004, creating 6,258.

Along the western edges of the state the large rivers of the mid continent erode a distance into the hills and it is here, in the west, that some dense pockets of heavy industry appear. In the Kanawha River Valley near Charleston and along the southern Ohio River Valley near Huntington chemicals predominate, attracted by a readily available labor force and access by barge carriers. Metallurgy, especially steel, has been predominant in the northern panhandle due to a spill over effect from the traditional center of the US steel industry in Pittsburgh. The state is a global chemical hub, cited by the Council of American States in Europe as one of North America's premier destinations, with the presence of DuPont, Germany based Bayer and Stockmeier Kunststoffe GmbH; a subsidiary of Japan based Kureha, Ashland Specialty Chemical, Flexsys, and Brazil based Braskem S. A. West Virginia has 80% community acceptance from the chemical industry nationwide, one of the highest in the nation. West Virginia is home to steel and metal companies such as Luxembourg based ArcelorMittal in Weirton, Steel of West Virginia Inc. in Huntington, Russia based Severstal in Wheeling, Japan based Nisshin Inc. in Wheeling, Follansbee Steel in Follansbee, Special Metals Corporation in Huntington, and Swanson Industries in Morgantown. In December 2010, Russia based Mechel announced plans to construct a new $12 million coal processing plant in McDowell County. It is home to one of the highest concentration of resin producers in the world. General Electric Plastics is located in Washington.

The FBI's Criminal Justice Information Services Division is located in Clarksburg, NASA's Independent Verification and Validation Facility in Fairmont, and the U. S. Department of Treasury's Bureau of the Public Debt is located in Parkersburg.

Between 1990 and 2004, the state experienced $1 billion in investment in the sector and 1500+ new employment positions. It is home to major automotive operations such as Japan based Toyota in Buffalo, and others including Diamond Electric in Eleanor since 1996 (in 2014 Diamond moved their North American headquarters to West Virginia), NGK Spark Plugs in Sissonville, and Italy based Sogefi and Japan based Okuno International in Prichard. with Owens & Minor Clorox and Commercial Metals Company breaking ground and expanding into the state during 2022. In December 2010, Ohio based Macy's announced plans to construct a 1.3 million square foot, $150 million distribution center in Berkeley County, creating 1,900 jobs. Manufacturing operations also include Homer Laughlin China Company in Newell, Blenko Glass Company in Milton, Champion Industries in Huntington, Gabriel Brothers in Morgantown, MTR Gaming Group is Chester, and PNGI Charles Town Gaming.

Major media entities in the state include Marquee Cinemas, which operates theatres from Connecticut to Florida, West Virginia Media Holdings, West Virginia Radio Corporation in Morgantown, West Virginia MetroNews, and Ogden Newspapers in Wheeling, which operates publications from Hawaii, Florida, Minnesota and to New York. Terradon Communications Group, located in Poca, is a leader in website design and development, with clients including Whirlpool International. Others include Texas based Aegis Group.

In 2010, tourism generated an economic impact of $4.27 billion and 44,400 employment positions. Major tourist attractions include state's premier skiing destinations such as Snowshoe Mountain, Canaan Valley, Winterplace Ski Resort, Oblebay Resort, Elk River Touring Center, and White Grass Ski Touring Center. Other attractions include the Huntington Museum of Art, the Mountain Quest Institute in Pocahontas County, Avampato Discovery Museum in Charleston, the Oglebay Institute in Wheeling, West Virginia State Wildlife Center in French Creek, Greenbrier Resort, Pete Dye Golf Club, Samuel Taylor Suit Cottage, Blennerhassett Island Historical State Park, Moncove Lake State Park, Camden Park in Huntington, West Virginia Zoo, West Virginia wine, Prickett's Fort State Park, Blackwater Falls State Park, the Mountaineer Race Track & Gaming Resort in Chester, Mardi Gras Casino and Resort near West Virginia, Wheeling Island Racetrack & Gaming Center, Hollywood Casino Charlestown, the Scottish Heritage Festival in Bridgeport, Italian Heritage Festival, Vandalia Gathering in Charleston, Appalachian String Band Music Festival, West Virginia Coal Festival in Madison, the Johnny Johnson Blues and Jazz Festival, the Music in the Mountains Bluegrass Festival, the Appalachian Festival in Raleigh County, and the BBQ & Bluegrass Festival.

Due to the rural demographics in West Virginia, the state isn't dominated by any major U. S. banks. In fact, the only Big Four bank with any retail banking presence in the state is JP Morgan Chase, and only in the Charleston area. Wesbanco is the largest bank in the state, and the only major bank with a presence throughout the state. City National Bank (West Virginia) also has a significant presence in several areas in West Virginia. Other major banks in the state, but only in certain areas, include Chase, Fifth Third Bank in Charleston and PNC Financial Services in Morgantown.