WV Economic Development Authority

Formed in 1962, the West Virginia Economic Development Authority (WVEDA) is a public corporation under the West Virginia Code, managed by a 10-member board including the Governor. WVEDA promotes state business prosperity and economic welfare by offering loans and financial assistance to manufacturing businesses and industrial process entities. The Authority can borrow money, issue bonds, and provide credit enhancements. WVEDA, with a 13-member staff, is self-supporting and operates without state funding for expenses.