This bill proposes the establishment of an Office of Entrepreneurship within the Office of Economic Development in West Virginia, as outlined in a new article of the state code. The Office of Entrepreneurship will be responsible for promoting and supporting the growth of entrepreneurship across the state, particularly focusing on businesses that have been in operation for five years or less. It will work to strengthen policies and programs, enhance learning and skills for entrepreneurs, and serve as a point of contact for new businesses interacting with state agencies.

Additionally, the Office of Entrepreneurship will be required to submit an annual report to the Legislative Commission detailing various metrics related to state contracts awarded to new businesses, including demographic breakdowns and recommendations for improving access to state contracts. The bill also encourages that at least five percent of state contracts be awarded to these newer businesses and establishes confidentiality for all records and communications of the Office of Entrepreneurship.

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