LOWER LABOR COSTS
Labor costs make up 15 percent of a typical chemical
or polymer manufacturing company’s total operating
expenses. A West Virginia facility’s annual labor costs,
which includes payroll, fringe benefits, workers’
compensation and unemployment insurance, would be
$236,000 less than the competitor states.*
Sources: US Bureau of Labor Statistics; WorkForce West Virginia; West Virginia
Development Office Target Industry Cost Model |
UTILITY SAVINGS
A chemical or polymer manufacturing company operating
in West Virginia would save $324,000 annually on utility
costs compared to our competitor states. Over $252,000
of this savings comes from electricity costs.*
Sources: US Energy Information Administration; West Virginia Development Office
Target Industry Cost Model
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LOWER OPERATING COSTS,
HIGHER PROFITABLITY
A West Virginia facility offers lower operating costs and
higher profit margins. A chemical or polymer company
operating in West Virginia would save nearly $1.9 million
in operating costs compared to a similar facility in the
competitor states. This translates into a 5.3 percent profit
margin in West Virginia, compared to just 3.3 percent in
the competitor states and 4.4 percent nationwide.*
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Sources: West Virginia Development Office Target Industry Cost Model
Sources: West Virginia Development Office Target Industry Cost Model
Sources: West Virginia Development Office Target Industry Cost Model
*The comparative analysis is based upon a model facility profile that has 200 employees and $95.2 million
in annual sales, with a payroll cost of $10.7 million. Analysis uses national averages for similar companies within 10
surrounding states. The complete analysis can be obtained from the West Virginia Development Office.
Source: West Virginia Development Office, Target Industry Cost Model
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