Governor
Releases February "Open for Business" Report
CHARLESTON, W.Va. - Gov.
Joe Manchin today released the latest "Open
for Business" report documenting the
state’s economic progress. The February
2007 report highlights projects and related
announcements that will assist with the creation
of new jobs and the preservation of a significant
number of existing jobs.
Governor highlights
significant business-friendly accomplishments
of the last two years
During his third State-of-the-State Address,
Gov. Joe Manchin highlighted results of a
tremendous two-year growth period for West
Virginia, including sweeping reforms that
addressed issues that hampered the state’s
economy. He said a diverse coalition of West
Virginia business, labor and government leaders
have made the tough, responsible decisions
to manage long-term debt and create a climate
that attracts businesses.
Accomplishments include the first overall
reduction in the growth of state government
employment in more than a decade and putting
close to $1 billion toward debt reduction.
Recent tax modernization efforts will cut
the food tax in half by 2008; create a low-income
family tax credit; double the Senior Citizen
refundable property tax credit; cut the business
franchise tax and reduce corporate net income
tax. These tax modernization efforts will
continue during the 2007 Legislative Session,
the governor said.
Manchin said his administration will continue
to implement recommendations of the cost savings
reports from the nationally recognized consulting
firm Public Works. The reports identify where
millions of state government dollars can be
saved during the next five years.
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Northrup
Grumman to add more jobs in Fairmont
Northrup Grumman Corp. said a majority of
50 new jobs it is adding to support a $75
million U.S. Army contract it recently received
will be in West Virginia. Under the contract,
the company will provide a biometrics system
that will integrate the Department of Defense’s
worldwide biometrics efforts.
The system will be the Defense Department’s
biometric repository for all identification
types, linking to the intelligence community
and civilian agencies, all in a focused effort
to address the war on terrorism, said Jill
Kale, vice president of Enterprise Applications
and Systems Integration for Northrop Grumman
IT's Defense group. Northrop Grumman is a
$30 billion company that employs 120,000 worldwide.
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Dow Chemical
to expand its Institute, W.Va., plant
Dow Chemical Co. in January announced plans
to expand its Institute plant to increase
production of Cellosize products and reduce
energy costs. The $20 million expansion, which
will include new equipment and construction
at the plant, is expected to be completed
in June 2009.
Cellosize production at the Institute plant
will focus primarily on paint and oilfield
applications. U.S. Sen. Jay Rockefeller said
Dow's announcement "is a clear sign that
they expect a long-term relationship with
West Virginia."
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West
Virginia’s low energy costs give Mountain
State industries an advantage
In January, David Warner, executive director
of the West Virginia Development Authority,
presented a report from an Atlanta-based location-consulting
that showed the average cost of electricity
for industrial customers in West Virginia
in 2005 was 49 percent less per kilowatt-hour
than the national average. The national average
for industrial customers was 5.73 cents per
kilowatt-hour, while West Virginia’s
rate was 3.85 cents. It’s among the
lowest rates in the country and the lowest
of all surrounding states except Kentucky.
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Eastern
Panhandle company helping to locate dangerous
landmines in war-torn countries
Schonstedt Instrument Co. of Kearneysville,
W.Va., in partnership with the United Nations
Mine Action Team, is donating hundreds of
magnetic locators to humanitarian mine clearance
personnel to help them locate landmines, grenades,
bombs and other explosive remnants in war-ravaged
countries. The Schonstedt Humanitarian Demining
Initiative will donate a magnetic locator
to the U.N. Mine Action Service for new Schonstedt
TraceMaster or XTpc underground pipe and cable
locators the company sells.
Schonstedt is the world’s leading maker
of the handheld magnetic locators, known technically
as gradiometers or magnetometers, which are
used to detect unexploded ordnance.
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Small
Business Development Center celebrates 25
years of helping state’s entrepreneurs
The West Virginia Small Business Development
Center network this year commemorates 25 years
of helping entrepreneurs build better businesses.
The WVSBDC belongs to a national network of
centers that began in 1976. West Virginia
became part of the network in 1982 with three
centers, contributing to the nationwide total
of 100.
Today the WVSBDC is a division of the West
Virginia Development Office and works with
colleges, universities and other organizations
to provide free business consulting and technical
assistance at 14 locations serving all 55
counties. The center helps entrepreneurs with
business plans and startup, loans, training,
regulatory review, workforce programs and
research and technology.
The U.S. Small Business Administration, the
State of West Virginia, the U.S. Department
of Agriculture, the Appalachian Regional Commission,
along with colleges and universities and workforce
development units that serve as its host institutions,
support the WVSBDC.
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Charleston
firm joins largest accounting company in the
Southeast
Charleston-based accounting firm Simpson &
Osborne will join with North Carolina-based
Dixon Hughes, the largest accounting company
in the Southeast. The merger could create
up to 100 more jobs in the next three years,
said S&O Chairman Bob Simpson, one of
the founders of the 32-year-old company. Dixon
Hughes plans to target businesses niches in
West Virginia that it specializes in elsewhere,
co-CEO Eddie Sams said. Those targets include
auto and equipment dealerships, community
banks and health care.
S&O has about 70 employees in West Virginia,
while Dixon Hughes has more than 1,000 employees
in seven states. The merger becomes effective
on Feb. 1.
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Regional
wireless phone company continues West Virginia
upgrades
Ntelos Wireless has added two new cell sites
in the Charleston area, which will provide
in-building wireless services for downtown
businesses and better coverage for the southern
portion of the city. It is part of the Waynseboro,
Va., company’s recent expansion of its
digital network throughout West Virginia.
Since 2005, the company has spent more than
$100 million in network expansion and upgrades
in Virginia and West Virginia. Last fall,
the company completed upgrades along Interstate
79, providing continuous service from Charleston
to the Pennsylvania border, according to Public
Relations Director Mike Minnis. Several other
areas in West Virginia are targeted for network
expansions or upgrades this year, including
extending coverage along U.S. Route 33 from
Buckhannon to Elkins, he said.
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Chinese executives
take part in exchange program at WVU
In December, Chinese business and government
leaders from Xien and Shanghai met with Gov.
Manchin in Charleston and toured the Clay
Center for the Arts and Sciences and the State
Capitol. The group was participating in a
municipal governor executive exchange program
at West Virginia University.
For the past decade, the WVU’s Center
for Chinese Business has been instrumental
in educating government and business leaders
from China's three largest cities: Shanghai,
Beijing, and Tianjin. High-level business
and government officials study at West Virginia
University for six months, exploring international
business, strategic planning, regional international
business, strategic planning, regional economic
development, international financial market,
American culture, and English. They also meet
key leaders in American companies through
corporate seminars and visits.
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West Virginia Small
Business Development Center helps 328 clients
in January
The West Virginia Small Business Development
Center (SDBC) provided 606 hours of counseling
and training to 328 clients last month. The
SDBC has provided 2,552 hours of counseling
and training to 1,197 clients this fiscal
year beginning October 1, 2006, helping to
create or retain 134 jobs. SDBC staff trained
167 people at 21 events in January and trained
675 people this fiscal year. Two loans totaling
$498 were approved in January. Sixteen loans
totaling nearly $2.5 million have been approved
fiscal year-to-date. New customer satisfaction
was 100 percent in January and for the year
.
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Economic Development
Authority approves $945,000 for Rubberlite
Cabell County’s Rubberlite
Inc received preliminary approval on a $945,000
loan to purchase and install equipment in
its manufacturing facility in Huntington.
Rubberlite manufactures various closed cell
sponge rubber and plastic products. This expansion
is expected to create up to 11 jobs in three
years.
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