The West Virginia Economic Development Authority (WVEDA) was established in 1962 as a public corporation and government instrumentality under Chapter 31, Article 15, of the West Virginia Code. Administered by a ten-member Board of Directors, WVEDA provides financial assistance in the form of loans and direct financing to industrial development agencies and enterprises to promote and retain commercial and industrial development in the state.
Empowered to borrow funds and issue bonds, WVEDA offers credit enhancement through loan guarantee programs to insure payment or repayment of bonds and notes. With a staff of thirteen, WVEDA operates independently and does not receive state appropriations for operating expenses.
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