U.S. Department Of Commerce Invests $10.1M In West Virginia

The investment will support local strategies to spur business and job growth in West Virginia, including in Opportunity Zones. 


https://businessfacilities.com/2020/08/u-s-department-of-commerce-invests-10-1m-in-west-virginia/
The investment will support local strategies to spur business and job growth in West Virginia, including in Opportunity Zones. 
Facebooktwitterredditpinterestlinkedintumblrmail

U.S. Department Of Commerce Invests $10.1M In West Virginia

The investment will support local strategies to spur business and job growth in West Virginia, including in Opportunity Zones. 

U.S. Department Of Commerce Invests $10.1M In West Virginia

The U.S. Economic Development Administration (EDA) is investing $10.1 million to protect West Virginia businesses from flooding, spur growth in a critical industry sector, boost workforce training efforts, and provide infrastructure needed to support businesses, including those in Opportunity Zones. The EDA grants, to be matched with $3.4 million in local funds, are expected to help create or retain more than 2,500 jobs and spur $69 million in private investment.

West Virginia
(Credit: Getty Images/Anton Litvintsev)

“The Trump Administration aims to create American jobs and to ensure U.S. business communities thrive,” said Secretary of Commerce Wilbur Ross. “These projects will support business growth in West Virginia, diversify the state’s economy, and create new jobs for West Virginia residents. The projects located in or near Opportunity Zones will attract additional private investment to the state.”

“Once again President Donald Trump and his Administration have stepped up to help West Virginia, this time with over $10 million to help create or retain more than 2,500 jobs,” said Governor Jim Justice. “One of my highest priorities as governor is long-term economic development, and our state has been on the move like never before, but it’s continued support like this from President Trump and the EDA that’s going to help our people shine and springboard us to future prosperity.”

The EDA investments include:

  • Huntington Stormwater Utility, Huntington, WV will receive $5.2 million to protect the downtown business district from future catastrophic flood events by repairing structural damage to the Huntington Floodwall that occurred as a result of severe storms and flooding, and conduct a feasibility study and design process for the further stabilization of rerouting the sewer and storm drain systems. The project, to be located in an Opportunity Zone, will be matched with $1.3 million in local funds and is expected to retain 750 jobs.
  • Benedum Airport Authority, Bridgeport, WV will receive a $2 million grant to renovate airport facilities to support the growth of the region’s critical aerospace sector. The project, to be matched with $499,000 in local funds, is expected to create 150 jobs, retain 400 jobs, and generate $35 million in private investment.
  • Coalfield Development Corporation, Wayne, WV will receive a $1.7 million grant to rehabilitate three buildings in downtown Matewan to establish the Pathfinder Center, a job-creation hub and training facility. The project will enable Coalfield to continue to provide education, training, and jobs to unemployed and underemployed people in the region, particularly out-of-work coal miners and others impacted by the reduction of coal production. The project, to be matched with $437,000 in local funds, is expected to create 110 jobs, retain 90 jobs, and generate $6 million in private investment.
  • The Putnam Public Service District, Scott Depot, WV will receive a $1.2 million grant to upgrade the community’s water capacity to serve area commercial and industrial customers. The EDA grant, to be matched with $1.2 million in local funds, is expected to create 220 jobs, retain more than 780 jobs, and generate $28.4 million in private investment.

“The EDA has invested over $50 million into the Mountain State in the past five years alone, and without their support for our state and our people, our economy and businesses would be a lot worse for wear,” said Senator Joe Manchin. “Today’s project announcements highlight the great work being done across our state and in various sectors, from manufacturing to natural disaster preparedness. These projects are projected to create and retain over 2,500 jobs for West Virginians across our state. I am very proud of our state for showing that when you give West Virginians a chance, we will always show you how hardworking we are and we deserve the same chances as any other state to prove ourselves. I look forward to seeing these projects completed in the upcoming months and years and will continue to work with the EDA and West Virginia organizations to bring economic development funding to our state.”

“Improving our economy, revitalizing communities, and creating opportunities for West Virginians has been a top priority of mine since day one,” said Senator Shelley Moore Capito. “The EDA has been a tremendous partner as I’ve worked to make this a reality in West Virginia, and today’s grant announcements are welcome news as we continue our work together to provide needed support to projects across the state. Since 2015 when I first came to the Senate, I’ve prioritized increasing EDA funding for projects in our state that specifically spur economic development. Through my committee placements and strong partnership with EDA, we’ve been successful in increasing West Virginia’s EDA funding 770 percent. I’m thrilled to have EDA here in West Virginia today for this exciting announcement, and I look forward to continuing these efforts in the years to come.”

“The North Central West Virginia Airport is a hub of growth and is helping attract aerospace jobs to diversify our economy,” said Congressman David McKinley (WV-01). “This funding will help support and expand its mission. It will allow the airport to renovate facilities, create jobs, and spur additional private sector investment. This is great news for the entire North Central West Virginia region.”

“The $10.1 million awarded in grants by the U.S. Department of Commerce will help rebuild West Virginia’s infrastructure and create jobs,” said Congressman Alex Mooney (WV-02). “I’m proud to work with the Trump Administration which has made assisting West Virginia a top priority. The grants provided to Putnam County will create jobs by expanding the number of businesses that are able to receive water service.”

Want to learn more about West Virginia corporate expansion?

Considering West Virginia for your company’s relocation or expansion project? Check out all the latest news related to West Virginia economic development, corporate relocation, corporate expansion and site selection.

Suggested Links:

LEAVE A REPLY