WHEELING, W.Va. (WTRF) – Before you curse and condemn the monstrous I-70 highway repair project, consider this — Wheeling is making money from it.
City Manager Bob Herron confirms that all contractors working in the city are subject to pay Business and Occupation tax.
On construction, it is 2 percent, but even on a $215 million project, it’s hard to estimate what the City will get.
While a majority of this project is within the city limits, some of it is outside.
And not all the work is actually being done in the city. Some of the steel fabricating is done elsewhere and transported here.
However, there are many wondering why this money cannot be put towards the new public safety building instead of charging city workers $2 weekly.
Well, the public safety building and the user fee that’s associated with that is a project that’s going to require debt service over the next 20 to 25 years. We need a long-term funding source for that. The construction B&O from the highway project, particularly this large highway project, will only materialize for the next three years or so.Robert Herron, Wheeling City Manager
Herron says the money will go into the City’s budget stabilization fund, also known as the “rainy day fund.”
The contractors must pay B&O tax quarterly, in January, April, July and October.
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