This bill proposes the establishment of an Office of Entrepreneurship within the Office of Economic Development in West Virginia. It introduces a new article to the Code of West Virginia, which includes definitions for key terms such as "Business," "Entrepreneur," and "State agency." The Office of Entrepreneurship will be responsible for employing necessary personnel and will focus on strengthening policies and programs that support entrepreneurship across various demographic segments and geographic areas. Additionally, it will serve as a point of contact for businesses that have been in operation for five years or less, assisting them in their interactions with state agencies.

The bill also mandates annual reporting by the Office of Entrepreneurship to the Legislative Commission, starting two years after its creation. This report will include data on state contracts awarded to newer businesses, demographic breakdowns, and recommendations for improving access to state contracts and overall entrepreneurship in West Virginia. Furthermore, the Office of Economic Development is tasked with encouraging that five percent of state contracts be awarded to businesses that have been operating for five years or less and are based in the state. All records and communications of the Office of Entrepreneurship will be kept confidential and not considered public records.

Statutes affected:
Introduced Version: 5B-2P-1, 5B-2P-2, 5B-2P-3, 5B-2P-4, 5B-2P-5, 5B-2P-6