Revenue Secretary Dave Hardy announced last week that state agencies are facing approximately $100 million in anticipated budget cuts as the state’s severance tax collections have slowed in recent months. Current revenue collections are $29.8 million below estimates for the current fiscal year, which began July 1, 2019.
The announced budget cuts highlight the “boom and bust” cycles often associated with West Virginia’s severance tax collections, as the state just three months prior experienced a revenue surplus built in large part on economic rebounds in the energy ...
This past week highlighted the importance of tourism on West Virginia’s economy, as more than 200 people representing restaurants, hotels, tourist attractions and the tourism industry in general made their way up the mountain to Snowshoe Resort for the annual Governor’s Conference on Tourism.
The 2019 Conference kicked off on September 23 with Tourism Commissioner Chelsea Ruby highlighting the impact of the tourism industry on West Virginia. According to the latest data from the West Virginia Tourism Office, the industry had an economic impact of $4.3 million in direct ...