Date Requested: January 28, 2015
Time Requested: 01:17 PM
Agency: Development Office
CBD Number: Version: Bill Number: Resolution Number:
2453 Introduced HB2444
CBD Subject: Economic Development


FUND(S):



Sources of Revenue:

General Fund

Legislation creates:

Neither Program nor Fund



Fiscal Note Summary


Effect this measure will have on costs and revenues of state government.


    This Legislation calls for the Development Office to assign at least Economic Development Representatives to provide assistance to small businesses. This individual is to be called a Small Business Ally.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2015
Increase/Decrease
(use"-")
2016
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 0 70,750 70,750
Personal Services 0 60,750 60,750
Current Expenses 0 10,000 10,000
Repairs and Alterations 0 0 0
Assets 0 0 0
Other 0 0 0
2. Estimated Total Revenues 0 0 0


Explanation of above estimates (including long-range effect):


    The above estimate is based on the need to hire at least one additional economic representative at a cost of $60,750.00 to cover salary and fringe benefits. The remaining $10,000 is to cover travel costs and other associated costs necessary to support the position.



Memorandum


    The WV Development Office currently has Small Business Unit that receives a portion of it's funds from the U S Small Business Administration.



    Person submitting Fiscal Note: Carl D Smith
    Email Address: carl.d.smith@wv.gov