Creating TEAM-WV

SB 1062 creates TEAM-WV, a new nonprofit corporation to advance West Virginia's economic development by focusing on job creation, retention, training, and business recruitment. The Governor must establish the corporation by filing articles of incorporation, with a 9-member board of directors appointed by the Governor (subject to Senate approval) to oversee operations. The board must set strategic goals, approve the chief executive officer's compensation and major contracts, conduct annual financial audits by independent auditors, and adopt a conflicts of interest policy. This structure requires regular board meetings and financial transparency to ensure accountability in executing the corporation's economic development mission.