Coal Industry Keeps West Virginia Afloat
West Virginia is among only a number of states that are not facing budget deficits, and that’s no accident says a leader in the coal industry. The state tax coffers have been consistently filling as coal prices have risen, setting this state apart from most of the other states that are affected by major economic woes.
“The mining and energy sectors are providing a cushion for the state where it comes to jobs and revenue,” West Virginia Coal Association Vice President Chris Hamilton. “The industry will continue to keep the state from falling as drastically and quickly as the national economy is projected to do in the coming years.”
He noted that West Virginia is among “the seven or eight states” that will not end the year in the red, and that it was mostly due to the taxes derived from the coal industry.
The West Virginia Coal Association is also interested in the development of the latest coal to liquid technologies. Hamilton says that his association is planning on approaching public officials for some state money to help in the project.