§5E-1-3. Purposes

Published: 2015

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WVC 5E-1-3

§5E-1-3. Purposes.

(a) The purpose of this article is to promote the development

of the human resources and the diversification of the economy of

West Virginia. The investment capital generated by this article

must be used to encourage and assist the strengthening of the

economy through loans, equity investments, and other business

transactions for purposes of developing new business and industry

in West Virginia, rehabilitating existing business and industry,

and stimulating and assisting in the expansion of business

activities that promote and maintain the economic stability of this

state by providing maximum opportunities for employment of West

Virginians and improving the standard of living of the people of

this state.

(b) This article is aimed at:

(1) Increasing the availability of development capital in

order to encourage and assist in the creation, development and

expansion of businesses based in West Virginia;

(2) Developing, preserving, diversifying, expanding and

strengthening the agricultural, industrial and business base of

West Virginia's economy, particularly for those businesses

utilizing this state's technical, managerial and research resources

in domestic and international markets; and

(3) Providing the residents of West Virginia with greater

opportunities to invest and participate in the economic development

and potential of this state.

Note: WV Code updated with legislation passed through the 2015 Regular Session

The WV Code Online is an unofficial copy of the annotated WV Code, provided as a convenience. It has NOT been edited for publication, and is not in any way official or authoritative.