51 West Virginia Business Stats & Facts For 2025

Here are 51 business stats about West Virginia for 2025.

Basics:

Population: 1,770,071 (US Census 2020)
Population desnity per square mile: 74.60
GDP: $99,511 (millions USD)
GDP Per Capita: $56,630
Median household income (in 2022 dollars): $55,217
Real GDP Growth Rate: 4.70%
Total Employment: 644.8k
Unemployment Rate: 4.0%

Rankings

% Share of National Economy: 0.36%
State Economic Growth Rank (out of 50): 45
Population Growth Rank (out of 50): 50
Business Growth Rank (out of 50): 49
State Growth Rank in Employment (out of 50): 2

Biggest Industries In West Virginia By Revenue

1. Hospitals: $11.1b
2. Coal Mining: $7.4b
3. Gas Stations with Convenience Stores: $6.1b
4. New Car Dealers: $4.8b
5. Oil Drilling & Gas Extraction: $4.5b
6. Warehouse Clubs & Supercenters: $3.4b
7. Lotteries & Native American Casinos: $3.4b
8. Commercial Banking: $2.7b
9. Supermarkets & Grocery Stores: $2.7b
10. Gasoline & Petroleum Bulk Stations: $2.7b

Biggest Employers In West Virginia

1. The West Virginia University Health System: 20,000 (3.1%)
2. Walmart Inc.: 11,902 (1.8%)
3. Charleston Area Medical Center: 8,000 (1.2%)
4. West Virginia University: 6,214 (1.0%)
5. The Kroger Co.: 4,321 (0.7%)
6. United States Postal Service: 3,931 (0.6%)
7. Lowes Companies Inc: 3,114 (0.5%)
8. Target Corp: 1,397 (0.2%)
9. The Home Depot, Inc.: 1,316 (0.2%)
10. Mon Health: 1,200 (0.2%)

Small Businesses In West Virginia

Number of Small Businesses 109,300
Percent of bossiness that are small businesses: 98.80%
Number of employees: 263,036
Share of Employment: 48.50%
Number of New Businesses In The Past Year: 5,839
Number of Businesses That Closed In The Past Year: 4,113
Net Change In New Businesses: 1,726

Number of Businesses With No Employees: 85,091
Number of Businesses with 1-19 Employees: 20,998
Number of Businesses with 20-499 Employees: 3,211
Share of Businesses Owned By Women: 42.40%
Share of Businesses Owned By Veterans: 8.70%
Share of Hispanic Owned Businesses: 1.50%
Share of Businesses Owned By Racial Minorities: 4.50%

Fortune 500 Companies In West Virginia

Number of Fortune 500 Headquaters: N/A
Biggest Company: N/A
Biggest Company Type: N/A
Number of Employees: N/A
Revenue (in millions): N/A

Taxes In West Virginia

State Corporate Tax Rate: 6.50%
State Corporate Tax Rate Brackets: $0

State Sales Tax Rate: 6.00%
State Sales Tax Rank (out of 50): 17
Average Local Sales Tax Rate: 0.57%
Max Local Sales Tax Rate: 1.00%
Average Combined Sales Tax Rate: 6.57%
Combined Sales Tax Rank (out of 50): 31

Minimum State Income Tax Rate If You’re Single: 2.00%
Minimum State Income Tax Rate If You’re Married: 2.00%

General West Virginia Population Facts

In civilian labor force, total, percent of population age 16 years+: 53.10%
In civilian labor force, female, percent of population age 16 years+: 49.30%
Share of population which is foreign born: 1.60%
Mean travel time to work (minutes), workers age 16 years+: 26.3

Housing

Number of Housing Units: 863,745
Owner-occupied housing unit rate: 74.20%
Median value of owner-occupied housing units: $145,800
Median gross rent per month: $831
Households with a computer: 88.80%
Households with a broadband Internet subscription: 82.70%

Education

High school graduate or higher, percent of persons age 25 years+: 88.40%
Bachelor’s degree or higher, percent of persons age 25 years+: 22.70%

Also See

• West Virginia Registered Agent Services
• West Virginia Secretary of State Business Search
• How To Form an LLC In West Virginia
• West Virginia Bookkeepers & Bookkeeping Services

Sources

• https://en.wikipedia.org/wiki/List_of_U.S._states_and_territories_by_GDP
• https://en.wikipedia.org/wiki/Economy_of_West_Virginia
• https://www.ibisworld.com/united-states/economic-profiles/west-virginia/
• https://taxfoundation.org/data/all/state/2024-sales-taxes/
• https://taxfoundation.org/data/all/state/state-corporate-income-tax-rates-brackets-2024/
• https://taxfoundation.org/data/all/state/state-income-tax-rates-2024/
• https://advocacy.sba.gov/2023/11/14/2023-small-business-profiles-for-the-states-territories-and-nation/
• https://advocacy.sba.gov/wp-content/uploads/2023/11/2023-Small-Business-Economic-Profile-WV.pdf
• https://www.bls.gov/eag/
• https://www.bls.gov/regions/mid-atlantic/west_virginia.htm#eag
• https://www.census.gov/quickfacts/fact/table/WV,US/PST045223
• https://www.50pros.com/fortune500