About the Governor and First Lady
Administration
Constituent Services
News
Actions
- Week in Review
  
  COVID-19 Actions and Executive Orders
  
  Proclamations and Executive Orders
Contact
- Office of the Governor
  State Capitol, 1900 Kanawha Blvd. E
  Charleston, WV 25305
  
  Office Phone:
  304.558.2000 or 1.888.438.2731
  
  Governor's Mansion:
  304.558.3588
  
  Contact the Governor's Office

Gov. Justice’s rocketship ride is – REAL

12/1/2021

*|MC:SUBJECT|*

CHARLESTON, WV – Gov. Jim Justice announced today that the State has broken several all-time historic economic records. West Virginia’s General Revenue collections for November 2021 came in at $88 million above estimates and 27.2% ahead of prior year receipts.

“West Virginia is writing the comeback story of all time, and these unprecedented surplus numbers are proof that this rocket ship ride that I promised is real,” Gov. Justice said.

“I’m so proud of the great people of West Virginia. We’re witnessing West Virginia’s greatest chapter of all time unfold before our eyes and there’s much more to come. Even though we were dealt a cannonball to the stomach with the COVID-19 Pandemic, we still paced our way to what I promised: long tired of being 50th, now West Virginia at the top and becoming the envy of the world.

“We’ve diversified our economy, tourism is booming, roads are getting paved everywhere you turn, we didn’t forget our energy industry, we took care of our elderly and our hungry, we made education our centerpiece, and we did all this without wasteful spending and growing government.”

Year-to-date collections of more than $2.011 billion are $269.4 million above the year-to-date estimate.

Several historical records were broken with November’s numbers:

Highest November general revenue fund Severance Tax collections ever at more than $75.3 million (previous high was $52.4 million in November 2014)
Highest total General Revenue Fund collections for November at $435.6 million (previous high was November 2020 at $342.5 million)
Highest rate of revenue growth for month of November at 27.2% (previous high since at least 1980 absent a tax increase was 26.6% set in November 2004)
Record year-to-date general revenue fund surplus thru November of $269.4 million (previous high was $131.7 million as of November 2020)
Highest year-to-date revenue adjusted revenue growth (prior year collections adjusted to remove $200 million in deferred income tax receipts) of 15.8%. Prior high over the last 20 years was 13.2% set in November 2018.

Personal income tax collections were $20.7 million above estimate in November and 13.3% ahead of prior year receipts.

Corporation net income tax collections were $5.3 million above estimate for the month and nearly 219% ahead of prior year collections.

Consumer sales tax receipts were $18.5 million above estimate in November and 11.7% ahead of prior year receipts.

Severance tax collections totaled nearly $75.4 million. Collections were more than $42.4 million above estimate and 259% ahead of last year. Cumulative general revenue fund severance tax collections were $86.4 million above estimate and $137.4 million ahead of last year. Cumulative total severance tax collections for all funds were 149% ahead of last year.

Current natural gas prices are roughly four times the price at this time last year. Average metallurgical coal prices are also significantly higher along with higher production for both natural gas products and coal.

Click here to read monthly revenue and cash flow reports from the West Virginia State Budget Office

Under Gov. Justice’s leadership, West Virginia continues to enjoy an unprecedented era of success and prosperity.

After inheriting a $500 million budget deficit, Gov. Justice has led the state to a string of consistent budget surpluses by using his lifelong experience as a businessman to make West Virginia a more business-friendly state and by standing behind the energy industry.

Last month, West Virginia recorded a $38.7 million revenue surplus. During the month of October West Virginia also cracked the top 10 states in the nation for quarterly GDP growth and set an all-time state record-low unemployment rate.

Additionally, the Governor’s Roads to Prosperity program is the state’s largest-ever investment in road maintenance and improvement; after 50 years of neglecting its roads, the state has committed more than $2 billion dollars to fixing them. Teachers and state employees have received their two largest pay raises ever. The state’s Rainy Day Fund now exceeds $1 billion – another record – and its public pension funds are better-funded than they have been in decades. Additional investments in the state’s tourism efforts have visitation and intrigue in West Virginia through the roof. Thanks to Gov. Justice, Veterans now live in West Virginia tax-free and senior citizens do not face state taxes on social security. The Governor has also led West Virginia through a once-in-a-century pandemic, protecting the state’s most vulnerable citizens, and achieving some of the best numbers and lowest fatality rates of any state in the nation.

Contact Information

Jordan Damron, jordan.l.damron@wv.gov

Gov. Justice’s rocketship ride is – REAL

Contact Information

Contact

Flag Status