Wheeling, W.Va. (WTRF) – It was a rare bill that brought Republicans and Democrats together in West Virginia—and now it’s about to be implemented.
The Jumpstart Savings Plan will give aspiring tradesmen and women the tools to save up for a business.
Up to $25,000 can be put into a tax-free account each year and can be used for tools, equipment and licenses.
Treasurer Riley Moore calls the legislation a stepping stone out of the pandemic economic slump.
We think this is going to be a huge catalyst for new businesses in the state, entrepreneurship, and it’s going to get our working people the tools and equipment that they need to get going in their career path.Riley Moore, West Virginia Treasurer
Governor Justice signed the plan into law in March, with the support of several state trade unions.
Moore says it proves that the Mountain State is serious about not just training for jobs, but also equipping.