§5B-2-4. Public-private partnerships.
The West Virginia development office is authorized to enter
into contractual or joint venture agreements with a nonprofit
corporation organized pursuant to the corporate laws of the state,
organized to permit qualification pursuant to section 501(c) of the
Internal Revenue Code and for purposes of the economic development
of West Virginia, and funded from sources other than the state.
Members of the council are authorized to sit on the board of
directors of the private nonprofit corporation. The contract shall
include provisions relating to the employment of economic
development representatives assigned to the West Virginia
development office to be paid a base salary by the state and
performance-based economic incentives from private funds of the
nonprofit corporation. Provisions relating to hiring practices
with respect to economic development representatives, job
descriptions, accountability, public-private liaison, and
performance standards may be the subject of contract negotiations.
The contract shall include provision for continuing education and
certification in the field of economic or industrial development
for persons employed as economic development representatives.
Agreements providing for the payment of performance-based
incentives to the director of the West Virginia development office
are authorized. Agreements providing for the payment of travel and
expenses to the director of the West Virginia development office or
to economic development representatives from private funds by the nonprofit corporation are authorized. The prohibitions of
subdivisions (b) and (d), section five, article two, chapter six-b
of this code are not applicable to the receipt by economic
development representatives or by the director of performance-based
incentives and other payments made by the nonprofit corporation and
specifically authorized pursuant to this section.
From time to time the council may enter into joint ventures
wherein the West Virginia development office and the nonprofit
corporation share in the development and funding of economic
All contracts and joint venture agreements must be approved
by vote of the council. Contracts entered into pursuant to this
section for longer than one fiscal year shall contain, in
substance, a provision that the contract shall be considered
cancelled without further obligation on the part of the state if
the state Legislature or, where appropriate, the federal
government, shall fail to appropriate sufficient funds therefor or
shall act to impair the contract or cause it to be cancelled.