PRINCETON, W.Va. – City leaders in Princeton hosted a training session for those looking to learn more about Mercer County’s Build West Virginia District.
Mercer County has been designated a Build West Virginia District for about a year.
The district’s goal is to help create more affordable housing and offers tax incentives to building contractors, investors and banking institutions.
Some of those incentives include a sales tax exemption for building material purchases and a ten year income tax credit to offset increased property value.
“This work session was to inform the public about the types of incentives that are available through Build West Virginia. The hope is that our area contractors, bankers, folks that are interested in these incentives can use it to continue to address the housing crisis in our area,” said Sam Lusk, economic development director for the City of Princeton.
There are some requirements to qualify for these incentives. Including creating housing that will cost at least $3 million or provide at least six residential units or houses.
You can find more information about Build West Virginia here.
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