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WHEELING - The city of Wheeling’s inclusion in West Virginia’s Opportunity Zones 2.0 program provides a valuable new tool to attract private investment, encourage business expansion and create opportunities for continued economic growth.
The designation, part of Gov. Patrick Morrisey’s selection of 52 Opportunity Zones throughout West Virginia, offers federal tax incentives designed to encourage long-term investment in designated communities. Through Qualified Opportunity Funds, eligible investors who reinvest capital gains may receive tax benefits that can help make investment in Wheeling more attractive. For Wheeling, the designation creates another opportunity to build on the city’s economic development momentum, strengthen its competitive position and encourage investment that supports the community’s long-term growth. The governor's selections including Wheeling were confirmed by the Trump administration today.
"We appreciate Gov. Morrisey’s efforts to bring this opportunity to Wheeling and look forward to growing our community through this designation," said Mayor Denny Magruder. "It gives us a competitive edge in attracting investment and creating opportunities for our residents. There are exciting things happening in Wheeling right now, and this is another way to build on the tremendous foundation we have established. We look forward to seeing how this designation can help move our community forward."
The West Virginia Division of Economic Development coordinated the state’s selection process, reviewing nominations from local economic development authorities, county commissions and regional planning councils, with priority given to communities positioned for long-term investment and growth.
"The city of Wheeling worked closely with the Bel-O-Mar Regional Council and the Regional Economic Development Partnership throughout this effort, and that collaboration is a great example of what can be accomplished when organizations come together with a shared goal," said City Manager Robert Herron. "By working together and leveraging our collective resources and expertise, we were able to achieve positive results that will benefit our community."
The new Opportunity Zone designations take effect Jan. 1, 2027, and will remain in place for 10 years as part of the permanent Opportunity Zones program, providing communities and investors with long-term opportunities for economic development.