As editor of The plastics industry in West Virginia contributes $2.2 billion annually to the state's economy, according to a new report that's getting a lot of attention in the Mountaineer state.
The State Journal, a weekly business newspaper based in Charleston, has a big feature story about the report, which was completed for the Polymer Alliance Zone by the Center for Business and Economic Research at Marshall University.
Some highlights from their story:
- West Virginia's plastic industry, directly and indirectly, accounts for more than 22,630 jobs, $1.19 billion in employee compensation, $2.2 billion in economic activity, and pays more than $178 million in state taxes.
- 75 percent of its customers located out-of-state.
- Polymer companies pay pay among the leading salaries in the state. Plastic industry wages average $54,000, which is more than one and one-half times the state average wage of $37,000.
The fact that West Virginia is home to some big resin plants -- think Bayer MaterialScience LLC, DuPont Co. and Sabic Innovative Plastics, among others -- certainly helps raise that average wage figure.
Politicians are paying attention to the report. Gov. Joe Manchin told the paper: "The plastic industry in West Virginia is both robust and diverse and is an economic engine for the state of West Virginia. This is a high-tech, high-wage industry that sells its product all over the globe."
Having good, up-to-date information on the plastics industry's economic impact is essential to getting attention from politicians, especially on the state and local level.
Hats off to the Polymer Alliance Zone for helping raise the profile of West Virginia's plastics sector.