West Virginia Chamber of Commerce Meeting Highlights Economic Future
White Sulphur Springs – The West Virginia Chamber of Commerce wrapped up its 90th Annual Meeting and Business Summit on Friday, featuring discussions on the state’s economic future led by Republican lawmakers.
House Speaker Roger Hanshaw moderated a panel with House Judiciary Committee Chairman JB Akers, state Sens. Tom Takubo and Mike Oliverio, and Del. David McCormick. They discussed the significance of legislation on small business growth and workforce development.
Key Points from the Panel:
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Importance of Policy: Hanshaw emphasized that effective policy can drive success in the state, while poor policy may lead to setbacks.
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Senate Bill 1: Akers praised the recently passed West Virginia First Small Business Growth Program, aimed at easing access to capital for small businesses. He highlighted the challenges small businesses face compared to larger corporations when seeking loans.
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Healthcare as Economic Foundation: Takubo stressed the need for a healthy workforce for economic stability, pointing out that West Virginia has the lowest labor force participation rate in the nation and a high prevalence of chronic diseases.
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Economic Improvements: Oliverio remarked on the progress made under both Democratic and Republican leadership in enhancing the state’s workers’ compensation and public pension systems. He noted an increase in the trust funds and pension accounts, emphasizing the benefits for citizens.
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Infrastructure Development: McCormick discussed House Bill 4007, which expands funding limits for projects through the Industrial Access Road Fund. This aims to enhance economic development sites around the state.
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Workforce Development Act: The proposed House Bill 4005 would establish vocational opportunities for students, enabling them to earn credits and certifications through apprenticeships, thus addressing workforce challenges.
The summit highlighted a collaborative approach among legislators to strengthen West Virginia’s economic landscape, focusing on small businesses, workforce health, and infrastructure development.
