West Virginia
State Resources
The West Virginia Division of Economic Development (WVDED) is the state’s economic development agency whose mission is “to improve the quality of life for all West Virginians by strengthening our communities and expanding the state’s economy to create more and better jobs.” Its work is complemented by the West Virginia Economic Development Authority (WVEDA), a public corporation created by the state to offer loans and other financial assistance to manufacturing businesses and industrial process entities. Highlighted below is sample of what these and other partners are doing to promote new ventures in the state. For more resources, see WV Business Link, the entrepreneurial ecosystem platform created by WVDED, WV SBDC, and WV Entrepreneurship Ecosystem.
Country Roads Angel Network
Founded in 2019, the Country Roads Angel Network (CRAN) is a group of 32 accredited angel investors who provide mentoring and early-stage funding to West Virginia entrepreneurs to help diversify the state’s economic base. To date, CRAN has made direct investments totaling over $1 million in 6 companies, in amounts ranging from $50,000 to $360,000 (see portfolio). Investment opportunities are considered by individual angels on a case-by-case basis.
West Virginia Jobs Investment Trust
Overseen by WVEDA, the West Virginia Jobs Investment Trust (WVJIT or JIT) is a public venture capital fund, established in 1992 to develop and expand the state’s economy and retain and create jobs by providing early-stage through mature small businesses with access to capital. Eligible companies must be located and employ a workforce in West Virginia but are not limited by industry (see current portfolio). Funds may be used for R&D. JIT typically becomes a minority investor for 3-5 years, with a presence on the company’s Board of Directors. From January–July 2025, 4 investments were approved, ranging from $250,000 – $1 million.
JIT is also home to the West Virginia Capital Access Program (WVCAP), which provides subordinated debt and collateral support loans of up to $2 million and $500,000, respectively, to creditworthy companies that may not fit traditional lending models. Through the Seed Capital Co-Investment Fund, WVCAP provides up to $2 million, as a direct equity investment or as convertible debentures, for expansion of operations, technology development, and key hires.
WVU Industrial Extension
WVU Industrial Extension, part of the Statler College of Engineering and Mineral Resources at West Virginia University, is the state’s NIST Manufacturing Extension Partnership (MEP) site, leveraging the program’s national network to help manufacturers grow, make operational improvements, and reduce risk. Services include consulting on process improvement, quality improvement, and domestic supplier matchmaking, among others.
