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West Virginia’s coffers full from coal revenue

 
BY THE ASSOCIATED PRESS    Comment on this article Leave a comment
Published: November 29, 2008

WHEELING, W.Va. — West Virginia is one of only nine states not facing the prospect of budget deficits, and a leader in the coal industry says that’s no accident.

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West Virginia Coal Association Vice President Chris Hamilton says the booming coal industry is largely responsible for keeping West Virginia afloat while economic woes afflict other states.

As the price of coal has risen, state tax revenues derived from the industry have consistently come out ahead of projections.

Hamilton predicts continued growth in the industry, although he says it will be moderate. That may mean companies won’t be hiring many new workers.

Next week, Gov. Joe Manchin plans to meet with President-Elect Barack Obama and about 39 other governors to discuss how the economic crisis is affecting states.

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Related Topics: Public Finance, Politics, U.S. Politics, Business, World Politics, Economic Issues, Taxes, Government Spending, Economic Crisis, State and Provincial Budgets, Government and Politics, U.S. State Politics, West Virginia Politics, Economies, U.S. Economy



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