Governor
Releases May"Open for Business" Report
CHARLESTON, W.Va. - The
May 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.
NGK Spark Plugs
breaks ground on expansion
NGK Spark Plugs (USA) Inc. broke ground for
the expansion of its Sissonville, W.Va., plant
on April 28.
Governor Joe Manchin, First Lady Gayle Manchin
and Senator Jay Rockefeller were among the
dignitaries who joined NGK President Norio
Kato and Vice President Tom Wetzel for the
event. Expansion plans include construction
of a new 75,000 square-foot building and hiring
new employees. The company expects to begin
assembly and production in the third quarter
of 2008.
NGK made the decision to expand at this location
after a national search of other sites. Based
on its positive 12-year history with a dedicated
work force at the Sissonville location and
the cooperative efforts of government and
private agencies, "the West Virginia
site was the obvious choice for the expansion,"
Wetzel said.
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March
unemployment rate drops to 4.9 percent
West Virginia recorded its lowest unemployment
rate for March as the state's jobless rate
fell one-half of a percentage point to 4.9
percent, Workforce West Virginia said. For
the month, the number of West Virginians working
increased by 3,100 residents to 765,300 people.
The number of unemployed residents fell by
4,100 to 39,700, the agency said. Employment
gains were recorded in several areas including
construction, 1,700; trade, transportation
and utilities, 1,200; and leisure and hospitality,
1,200.
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Greenbrier
resort reopens after renovations
The Greenbrier resort reopened in April after
three months of extensive renovations. All
721 guest rooms now have plasma-screen TVs,
new bedding and electronic key locks. Many
of the award-winning resort’s facilities
and recreational programs are now open to
non guests. The Greenbrier Spa will be open
to the public Mondays –Thursdays. Tours
of the Cold War era nuclear fallout shelter
is open daily for tours. Reservations are
required for the spa and dinner.
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Recycling
company to create new jobs in Mercer County
The West Virginia Economic Development Authority
approved a $5 million loan to Recycle West
Virginia, LP ("RWV"). The new recycling
and metal shredding operation is in Princeton,
Mercer County. The company plans to purchase
and install a state of the art shredder and
related cranes, loaders and bailers.
The new recycling firm is expected to create
up to 38 jobs in three years. RWV will purchase
14 acres at the former Princeton Roadway Shop,
which is part of a 60 acre inactive rail yard
in the historically industrial section of
northern Princeton, and refurbish the five
buildings on this site. Once the buildings
are refurbished, the shredder/recycler will
be installed inside the largest building (56,000
sq. ft.) on the site.
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U.S. Commerce Secretary
praises West Virginia economy
U.S. Secretary of Commerce Carlos Gutierrez
visited West Virginia in April, first stopping
in Mingo County to learn about a thriving
"aquacultural" business, and then
finishing his trip in Huntington, where he
addressed 458 people at the Huntington Regional
Chamber of Commerce's 116th Annual Dinner.
Using the words "impressed" and
"amazed," Gutierrez expressed enthusiasm
for West Virginia's efforts to diversify its
economy and focus on transportation, tourism
and technology as its means of growth. The
aquaculture business in Mingo County is well
ahead of the curve in terms of farming fresh
fish that could decrease the country's reliance
on imported seafood, he pointed out.
According to the Department of Commerce,
aquaculture is an almost $1 billion U.S. industry
and a key area for future economic growth
in the fishing industry. The Mingo County
Fish Hatchery, located at Thacker Fork near
Pie, W.Va., is one of the first projects to
use water from an abandoned coal mine to grow
cold water fish, Arctic Char, which are marketed
primarily along the East Coast. The hatchery
produces 1.2 million fingerlings a year. Gutierrez
said West Virginia could serve as a model
for other states. Only Hawaii has a similar
initiative right now, Gutierrez said.
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L.L.Bean names
Quad/Graphics as catalog printer
Quad/Graphics is now the exclusive printer
and distributor for the L.L.Bean catalogs.
The Martinsburg plant will share production
with plants in Oklahoma City and Lomira, Wis.
L.L.Bean is a major retailer of outdoor gear
and clothing. The multi-million dollar deal
goes into effect January 2008.
"We were impressed with their innovation,
technology and quality," said Steve Fuller,
L.L.Bean senior vice president of corporate
marketing.
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Tax system overhaul
produces more timely, easier-to-read business
tax statements
Gov. Joe Manchin recently announced the first
results of the state tax computer system overhaul:
monthly business tax statements and an easier-to-read
business registration certificate.
Previously, the state could not send taxpayers
an account statement on a timely basis, sometimes
leaving businesses unaware how much they owed
or when to pay. Now the tax statements can
be mailed monthly, like credit card statements.
The state’s business registration certificate
has also been improved, from a check-size
paper with small print to an easier to read
standard-size page. Monthly tax statements
were mailed to 13,000 businesses in April.
The account statements show activity for sales
tax and withholding taxes. When the system
is completed, Gov. Manchin said, the new system
is expected to increase tax revenue by $18
million a year by notifying taxpayers that
may have been unaware of money owed and by
reaching new taxpayers sooner.
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FCX Celebrates
20 Years of Success in Business
FCX Systems Inc. celebrated its 20th anniversary
in April. The company, which employs 105 people,
manufactures aviation ground support equipment.
FCX has 40 percent of the world market share,
with 70 clients on seven continents.
The company manufactures a solid-state frequency
converter – an electronic box that powers
airplanes when planes are on the ground. The
FCX product line also includes air conditioning
and heating units for airplanes and a power
supply for F-22 Raptors that cannot be detected
by radar.
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Charleston Metropolitan
Statistical Area (MSA) ranks in top third
in U.S.
For the third year, Charleston has
shown consecutive improvement in economic
strength and growth. According to Policom
Corporation, the Charleston Metropolitan Statistical
Area (MSA) ranked in the top one-third among
361 other MSAs in the United States.
Other West Virginia MSAs that are improving
include: Huntington/Ashland MSA, 276; Morgantown,
240; Wheeling, 304; Weirton/Steubenville,
351; and Parkersburg/Marietta/Vienna, 297.
Economies are ranked on consistent growth
in size and quality and are measured by a
variety of labor indicators. From Policom’s
research, it determines if an area is growing
or declining, what is causing this to happen,
and offers ideas and solutions to communities
to improve the situation.
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Entrepreneurs
Earn Their Stripes in the Minor Leagues
Thomas S. Lyons, a professor of entrepreneurship
at Baruch College’s Zicklin School of
Business in New York, and Gregg A. Lichtenstein,
a business consultant in Margate, N.J., have
developed a system to encourage entrepreneurial
talent. The system is modeled on baseball’s
farm system, which Professor Lyons called
"one of the best talent-generating systems
in the world." Like the baseball model,
the Entrepreneurial League System features
clearly defined talent levels — rookie
league, single A, double A and triple A —
along with general managers, coaches and scouts.
In two years, the pair formed leagues in
West Virginia and central Louisiana with a
third league starting this month in western
Michigan. The league has more than 90 entrepreneurs
in West Virginia. The ESL model and several
participating businesses in West Virginia
were recently featured in The New York Times.
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West Virginia
towns receive "best places" ratings
Morgantown ranked among the top
10 in Forbes Magazine’s list of "Best
Places for Business and Careers." The
ratings were based on colleges in the area,
cost of doing business, cost of
living, crime rate, culture and leisure,
educational attainment, income growth, job
growth and net migration. Huntington ranked
top "best" for cost of living.
Pleasants, W.Va. is the second "Most
Affordable Place to Live," based on home
price and income ratios, according to Progressive
Farmer’s 2007 report: the "Best
Places to Live in Rural America."
Glade Springs Village in Daniels has been
rated as "ideal for retirement"
in Where to Retire magazine’s March/April
issue. Factors included the community’s
18-hole championship golf course, proximity
to attractions such as Tamarack and outdoor
recreation such as fishing and skiing.
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Agritourism
a growing industry
West Virginia received a $43,000
Federal State Market Improvement Grant from
the U.S. Department of Agriculture for a program
to develop agritourism in the state, said
Cindy Martel, marketing specialist with the
West Virginia Department of Agriculture. Agritourism
includes corn mazes, wineries, orchards and
other rural attractions. When the program
concludes, the department will have a five-year
plan detailing how to develop agritourism
in the state.
The 18-month project started Sept. 1, 2006.
Since then, 173 individuals and businesses
that can accommodate group tours have submitted
information to Martel. "We're going to
put it in the format of a directory. We're
working with the (Division) of Tourism ...
It will be accessible on their Web site. This
has helped update the (Division) of Tourism's
database."
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