Gov. Justice: February brings more record revenue surpluses


Total surplus through February reaches never-before-seen $589.9 million
CHARLESTON, WV – Gov. Jim Justice announced today that West Virginia’s General Revenue collections for February 2022 came in at $385.2 million – $59.2 million above estimate and 19.7% ahead of prior year receipts.

Eight months through Fiscal Year 2022, year-to-date collections of $3.478 billion are $589.9 million above the YTD estimate; breaking the all-time record for total surplus through the month of February.

The $59.2 million surplus for the month of February is also believed by state revenue officials to be the highest February surplus ever recorded in state history.

“Here we go again! We’ve wrapped up yet another month with another historic state record with our revenue surplus,” Gov. Justice said. “If you would have said five or ten years ago that we’d have just one month like this, people wouldn’t believe it. Before I came in the door, this state was flat-out bankrupt. But a lot of good people have put in a lot of good licks, and the tone has completely changed. Now, people aren’t even surprised when our numbers are through the roof – it’s become the expectation each and every month.

“We can’t let this historic success become old hat. We need to continue to yell from the mountaintops to tell the outside world just how much goodness is happening in West Virginia every day.”

Severance tax collections totaled $80.4 million, which is 252% ahead YTD and 314% ahead of last February. YTD collections are $212.3 million above estimate. These numbers represent historical highs, both for the month of February and the total collected.

Personal Income Tax is 9.9% ahead YTD compared to prior year adjusted collections. YTD collections are $166.2 million above estimate, the best performance relative to estimate.

Consumer Sales Tax is 9.4% ahead YTD and 6.7% ahead of last February. YTD collections are $93.4 million above estimate.

Corporation Net Income Tax is 57.1% ahead YTD compared to prior year adjusted collections. YTD collections are $101.3 million above estimate.

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.

​​People are more excited than ever to be in West Virginia. From April 2010 to July 2019, more than 43,000 people moved out of the state. However, from 2020 through 2021, net migration is up in West Virginia for the first time in decades, with over 2,000 people moving into our state, making West Virginia one of the top states in the entire nation that people are moving into on a percentage basis.

West Virginia is finally competing on the world stage and recruiting world-class companies to our state as shown in three recent major announcements. Nucor Corporation announced that they selected Mason County as the location for a state-of-the-art sheet steel mill. This record investment will exceed $2.7 billion, making it the largest in West Virginia history, as well as the largest single investment Nucor has ever made. GreenPower Motor Company announced an agreement with the state to manufacture zero-emission, all-electric school buses in South Charleston, bringing hundreds of new jobs and millions of dollars in economic impact to West Virginia. Finally, Owens & Minor, a Fortune 500 company that provides medical supplies, is going to expand on a deal they previously had with WVU Medicine and create over 125 jobs at a healthcare products preparedness and supply center in Morgantown. 

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, and a third pay raise has been proposed. 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. 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. Additionally, increased investments in the state’s tourism efforts have visitation and intrigue in West Virginia through the roof. West Virginia was recently named a top-10 travel region in the world to visit by Lonely Planet; the only state to earn this prestigious distinction and the state was also recently selected as one of the Best Places to Go by Condé Nast Traveler.


Contact Information

Jordan Damron,


Office of the Governor
State Capitol, 1900 Kanawha Blvd. E
Charleston, WV 25305

Office Phone:
304.558.2000 or 1.888.438.2731

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