At the beginning of 2019, West Virginia was ranked number one in the country for biggest gross domestic product rate (GDP) as it jumped 5.2% from 2018. What is causing this big jump for West Virginia when our bordering state Pennsylvania jumped only 2.9 percent?
West Virginia is known for coal mines. Seriously, WVU football puts on a miner’s hat when they get a turn over. Everyone who lives here knows that coal brings jobs to West Virginia.
Not only has coal played a role in West Virginia’s economy, but so has natural gas. There have been major pipelines being constructed through the state even though it’s just a temporary thing.
After the pipelines are done being constructed, will West Virginia see a downfall in state GDP growth?
Even though the state has experienced growth, when you look deeper into it, only certain counties have contributed. The increasing number of 12,000 jobs only truly played a part in Marshal, Monongahela, Harrison, Lewis, Berkley, Jackson, Cabell and Raleigh county.
These increases in jobs are mostly in the coal and natural gas industries, with the biggest factor being in the pipeline. Though the pipeline construction won’t be around forever.
West Virginia Adjutant General James Hoyer spoke three weeks ago to WV state leaders in regard to the West Virginia economy.
“It all boils down to entrepreneurship. It boils down to creating an environment conducive to small-business startup and growth. Industrial diversification is a key, key key priority for our state. There should never be a discussion without the question, what can we do to create an environment for small business startup and growth?”
All in all, the pipeline and coal going away would not tank West Virginia’s growing economy because other factors play a role, but it is certainly a concern for people currently in those fields.
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