WV SB907

Redefines "high-impact development projects" eligible for West Virginia Economic Development Authority approval as projects where the Governor requests $50 million or more in financial assistance and the private entity invests at least $50 million

Allows the board to consider regional and local economic factors when determining whether loan-per-job ratio criteria are met for high-impact projects

Permits up to $20 million annually to be spent from the Economic Development Project Fund without meeting the high-impact development project definition requirements

Removes the previous $300 million cap on funding available for high-impact development projects

Requires the board of directors to consider overall fund availability in both the Economic Development Project Fund and Industrial Development Loan Fund when approving financial assistance packages for high-impact projects

Effective July 11, 2025 (90 days from passage on April 12, 2025)