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Welcome All!
Welcome to the Wyoming County Business Retention Expansion & Development (BRE&D)
newsletter. Our goal is to offer useful information to local businesses interested in building and
maintaining their business. If you have any business related questions, call us at (304) 732-6707. If you don't already receive this free newsletter, please join our mailing list by visiting
www.wyomingcountybusiness.org or by clicking "Join Our List" in the left column.
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| BRE&D News |
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Visits to Local Businesses
The Business Retention Expansion &
Development program has begun visiting local businesses throughout Wyoming County to provide assistance to their
specific needs. The goal of these visits is to gain an understanding of business needs and to let them know what resources are available to
help them thrive. Additionally, the visits will give the
BRE&D project a deeper understanding of the issues that affect all
businesses so that new resources can be developed to assist their needs in the
future. For more information or to schedule a visit, please call (304)
732-6707. Or email jarecke.monty@gmail.com.
Updated Property Listings
The BRE&D project is continuing to
update its property listings.
Since updating the housing service there have been thirteen new properties
listed. Many people have taken advantage of this free web based listing service
and have been very satisfied. For anyone interested in selling or
leasing their commercial or residential property on this website, this will give your property
much greater exposure to people looking for property in Wyoming County.
If you would like to have your property listed, you can do so free of charge by
contacting, jarecke.monty@gmail.com
or by calling (304)-732-6707. To view these free property listings, please
visit the property listings here.
*The Wyoming County EDA and any other
organization or group involved with posting the listings are not responsible for
any incorrect information listed on this site regardless of its cause.
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Wyoming County Economic Development Authority |
| Loans Available to Repair Flood Damaged Bridges
The state of West Virginia is providing loan guarantees to assist property owners restore damaged bridges from the June 2010 floods. The loan guarantees will be provided to participating banks who will then be able to grant loans to homes declared eligible by the Federal Emergency Management Agency. These loans are for a maximum of $10,000 over three years to the counties of Logan, McDowell, Mingo, and Wyoming. Applications must be completed by Nov. 1, 2010. For more information contact the Wyoming County EDA at (304) 732-6707. For the full release, click here.
Update on Brownfields Assessment Grant
The Abatement Plan and the additional sampling are complete. The Abatement Plan is planned to be used by the City of Mullens for that property. The other property will have a risk assessment completed on it by September 30, 2010 to finish the grant. There is a potential for a coalition Brownfields Assessment Grant Application to be submitted, further information will be available for the next newsletter.
New Trial Micro Loan Program
Under a new trial program, the WCEDA is offering working capital loans up to $15,000 at the prime rate (currently 3.25%) fixed for 6 years for qualifying businesses that have been in business for at least 3 years. This program is available for a limited time, and is available state-wide. For this loan program the WCEDA will be expediting loan processing and offering a $35 application fee and $200 closing cost.The WCEDA is still offering its standard loans that range from $300 to $150,000. Anyone
interested
in more information about this new loan program or any existing loan programs, please contact Steve Clark at
(304) 732-6707 or visit here.
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| Monty's Musing |
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Jobs Act to Provide Capital and Tax
Incentives
The Small Business Jobs Act is designed to
create a $30 billion fund so that very cheap capital can be transferred to
banks that have less than $10 billion in assets. The intention of the bill is
to raise the limit on small business loans while also helping to refinance
commercial real estate debt. As well, extensions will be made to plans from the
stimulus law, which would increase guarantees on loans and help retain and/or
create jobs.
As well the bill would include tax provisions
totaling $12 billion in tax relief to small businesses. The tax provisions
would include a 100 percent exclusion from capital gains taxes from any new
investment made by small businesses. Additionally, any new equipment paid for would
come with a 50% tax write off and capital investments could be expensed up to
$500,000. To read more on the bill and its potential impact, visit here.
The Tax Modernization Project
The Tax Modernization
Project has been in discussion as a way of improving the West Virginia business climate by eliminating
business from personal property tax. Proponents of the idea look to neighboring
Ohio, which
allows their commercial and industrial businesses to have their machinery
exempt. Last month, when a special tax committee met to determine the pros and
cons of the project, the persistent issue of funding gaps to counties kept
coming up. This particular kind of tax goes directly to counties and it is
estimated they would lose around $250 million if the exemption were passed. To
learn more about the potential impact of the project, visit here.
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Resources/Events |
| Market Yourself to Prime Contractors
Looking to expand your business? Subcontracting or teaming with prime contractors on
federal projects can be a profitable course for your small business. You will be exploring how to prepare yourself for teaming opportunities, where
and how to identify potential partners, and how to use subcontracting to eventually have your business prepared for prime contracting. This event is FREE and takes place online on October 21st, 2010 from Noon to 1pm. Register here.
Government Contracts - Marketing to Federal Agencies
Ready to expand by becoming a prime contractor? Enhance your chances of attracting opportunities in the competitive world of contracting. This webinar will cover how to identify the agencies that need your product or service, how to find the right person to get in contact with, and delivering an effective presentation. This is event is FREE and takes place online on September 23rd, 2010 from Noon to 1pm. Register here.
Peer to Peer Lending
This form of lending allows people to connect with others for their lending needs while allowing everyone to bypass the need of a bank. If you're looking for an alternative source of funding, borrowing from your neighbors online may be a good option for you. Peer to peer lending sites are a great opportunity for borrowers while providing little benefit to lenders. To explore some of the popular lending sites that may have something to offer you, visit here.
Regional
Contracting Assistance Center
The RCAC is a great resource
to small businesses interested in gaining a competitive advantage for
winning government contracts at the local, state, and federal levels. As their client, they will provide you
with multiple services designed to help you develop the correct strategy
for penetrating the government market. To find out more information on the RCAC, please visit www.rcacwv.com, or call (304) 792-7234 ext. 29.
I.R.I. - Employee Leasing Options
One of Integrated Resources, Inc. services includes employee leasing in which I.R.I. "hires" your employees and then "leases" them back to you. This relieves you of the time constraints associated with payroll processing, personnel file maintenance, payment of workers' compensation and unemployment insurance premiums and other personnel-related tasks. As well as creating an affordable way of providing health care. For more information call (304) 294-5610 or visit here.
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