The Charleston Area Alliance is pleased to partner with the Kanawha County Commission in making our community aware of $10 million in new, low-cost financing opportunities for business development.

Recovery Zone Facility Bonds, authorized by the American Recovery and Reinvestment Act of 2009, are designed to promote job creation and economic recovery by allowing private businesses to borrow funds at lower interest costs, using proceeds of tax-exempt bonds issued by Kanawha County. 

These funds may be used to finance a broad range of large capital projects within the county, which was declared a Recovery Zone by the Kanawha County Commission on December 22, 2009.

Recovery Zone Facility Bonds may be used to finance depreciable business property such as buildings and equipment . . .

• acquired by purchase, constructed, reconstructed or renovated after December 22, 2009;
• originally used after December 22, 2009;
• in the conduct of a qualified business.

Qualified businesses include just about any commercial activity -   hotels, retail stores, warehouses, research parks, manufacturing plants, and office buildings.  Only a few types of businesses are not eligible to participate in this program.

If you have an eligible business development project, Recovery Zone Facility Bonds may provide you with an affordable financing alternative.

You must apply for these funds before February 28, 2010.

For further information, please contact the Kanawha County Commission office at 407 Virginia St., E., Charleston, WV 25301 or call (304) 357-0100.  Or contact the Alliance at (304) 340-4253.