Tag Archive: West Virginia

1. Price Reductions as of Oct. 2024

   October 3, 2024 4:29 pm Comments Off on Price Reductions as of Oct. 2024

   Office/Retail

   315 High Street, Morgantown, WV | Take advantage of this property for sale in the heart of downtown Morgantown, now at a reduced price! This 9,240 (+/-) sq ft office building is comprised of two floors, multiple private offices, plenty of storage space, boasts high foot traffic and off-street parking.
   View the detailed marketing flyer for 315 High Street.

   347 W. Main Street, Clarksburg, WV | Three-story office building in the heart of downtown Clarksburg, now at a reduced price! Available for sale or lease, this 29,090 (+/-) square foot building offers a prime location with excellent visibility in the heart of Clarksburg’s downtown district. The building features impressive office amenities including an overhead door, loading bay, freight elevator and direct roof access (currently utilized as an outdoor eating area). Previously used as a Biometric Data Center, 347 W. Main Street would be perfect for another data center or any business that needs storage space, cubicles and private offices, a loading bay and freight elevator. Retail conversion can also be explored. Don’t miss out on this great opportunity!
   View the detailed marketing flyer for 347 W. Main Street.

   250 Scott Avenue, Morgantown, WV | We’re now offering a reduced lease rate on this newly renovated, conveniently located office suite! 250 Scott Avenue in Morgantown is located just 0.6 mile away from I-68, Exit 1, and 1.5 miles from the I-68/I-79 interchange. With 1,000 (+/-) square feet of space, 250 Scott Avenue is perfect for a small business.
   View the detailed marketing flyer for 250 Scott Avenue.

   1409 Greenbag Road, Morgantown, WV | 776 (+/-) square feet of retail/office space, just miles from downtown Morgantown, is now available at a reduced price. 1409 Greenbag Road offers an open reception area, break room, one small office/storage room and a private restroom. This conveniently located, versatile space could be just what your business is looking for!
   View the detailed marketing flyer for 1409 Greenbag Road.

   312 10th Street, Fairmont, WV | Recently reduced price on a property with plenty of potential: Located in the heart of Fairmont, WV, this location is a STEAL for anyone looking to capitalize on the growing Marion County economy. Whether you’re looking to start your own business, or just start fresh in a new location, this is the perfect opportunity to LAUNCH your next season of GROWTH.
   View the detailed marketing flyer for 312 10th Street.

   1639 Sabraton, Morgantown, WV | 1639 Sabraton Avenue is located in the heart of Sabraton, right off of Earl Core Road. The single-level office/retail building is comprised of 2,250 (+/-) square feet with a flexible floor plan that allows the space to be utilized for a single use or divided into multiple suites.  The property is ideally located close to major traffic routes, amenities and offers off-street parking.
   View the detailed marketing flyer for 1639 Sabraton Avenue.

    

   Investment

   440, 442 Williamsport Pike, Martinsburg, WV | A turn-key car wash located in a high-traffic area of rapidly growing Martinsburg, WV. Excellent visibility at the intersection of Routes 9 and 11 and prominent signage make this 7,667 (+/-) square foot offering a perfect generational investment or prime redevelopment opportunity for the right buyer.
   View the detailed marketing flyer f0r 440, 442 Williamsport Pike. 

   Merchant Street Portfolio, Fairmont, WV | Now at a reduced price: 303, 305, 307 Merchant Street is a portfolio of assets along the Fairmont Gateway Connector. This property of 10,000 (+/-) square feet available to lease or own offers excellent visibility and a large parking lot. The historic building would make a great home for a growing business or an addition to an investment portfolio.
   View the detailed marketing flyer for Merchant Street.

   18 Cleveland Avenue, Morgantown, WV | A mixed-use/multifamily investment property of 5 units in Westover. The property is conveniently located within walking distance to WVU’s main campus and close to many Morgantown amenities. All 5 units are leased, including a warehouse/industrial/office space of 3,408 (+/-) square feet currently leased by the landlord. 18 Cleveland Avenue would make a great addition to an investment portfolio or could be used as space for a business (with added passive income from the renting the upstairs apartment!)
   View the detailed marketing flyer for 18 Cleveland Avenue.

   511 Grant Avenue,  Morgantown, WV | Looking for your next investment property? Look no further than 511 Grant Ave, Morgantown, WV. This property is perfect for any investor looking to capitalize on the thriving university housing market in Morgantown. Located just steps away from West Virginia University’s downtown campus, this location is in high demand among university students and young professionals alike.
   View the detailed marketing flyer for 511 Grant Avenue.

    

   Industrial

   164 Eyster Road, Halltown, WV | A historic Jefferson County paper mill could be yours, now at a reduced price! 164 Eyster Road in Halltown includes a 201,380 (+/-) gross square foot industrial manufacturing facility on 46.57 (+/-) acres. Halltown is located in West Virginia’s growing Eastern Panhandle, close to major markets like Washington, D. C. and Baltimore via Interstate 81. The Halltown Paper Mill has been in continuous operation since 1869 and has operated as a vertically integrated supplier and manufacturer of recycled paper products.
   View the detailed marketing flyer for 164 Eyster Road.

   3720 Earl L. Core Road,  Morgantown, WV | 3720 Earl L. Core Road is a versatile industrial building in an enviable location. The 2,100 (+/-) square foot metal building sits on a 0.72 acre corner lot approximately 5.2 miles from Downtown Morgantown and 2.5 miles off of I-68 (Exit 4). Much of 3720 Earl L. Core Road is made up of open industrial space with wooden shelving and features two overhead doors and a chain link gate entrance. The location, amenities and versatility of 3720 Earl L. Core Road make it perfect for a wide range of industrial uses, check it out today!
   View the detailed marketing flyer for 3720 Earl L. Core Road.

    

   Land

   370, 382 Kerns Street, Inwood, WV | 9.65 (+/-) acres of undeveloped, flat land in Inwood, WV is now available at the adjusted price of $315,000! 370, 382 Kerns Street offers exceptional visibility along I-81 in a growing area of Berkeley County. Inwood is conveniently located near Virginia and Maryland borders, in proximity to a number of nearby residential communities and a short drive to major cities like Philadelphia and Baltimore. 370, 382 Kerns is a can’t miss opportunity for commercial users looking to develop land.
   View the detailed marketing flyer for 370 Kerns Street.

    

    

    

    

    

    

    

    

    

    

    

2. Did you know…Commercial real estate often outperforms the stock market over the long term?

   September 25, 2024 4:32 pm Comments Off on Did you know…Commercial real estate often outperforms the stock market over the long term?

   Did you know commercial real estate often outperforms the stock market over the long term?

   Since real estate properties are tangible assets, they are inherently less risky than stocks and better equipped to weather economic downturns. Because of these factors, according to MorningStar, tangible assets like real estate have outperformed the Standard & Poor’s 500 (the stock market of the 500 largest companies in America) for the past 30 years (Due.com, n.d.).

   While both stock and real estate investing have their pros and cons, purchasing real estate can provide more stable returns and offer tax advantages. In fact, a Gallup poll from 2023 found that 34% of Americans think real estate is the best long-term investment, while only 18% say the same of stocks and mutual funds (Asis, 2023).

   Are you interested in getting started in commercial real estate? Check out a few Black Diamond Realty investment properties that would be a great addition to any investment portfolio below.

   West Virginia Investment Offerings:

   3313 4H Camp Road is a fully leased investment opportunity located along tranquil Booth Creek outside city limits in Morgantown. Originally built as a single-family residence, the property has since been redeveloped as a drug rehabilitation center and is fully leased to long -term tenant, Ascension Recovery Services.
   View the detailed marketing flyer for 3313 4H Camp Road. 

   900 Fairmont Road is a fully leased office investment opportunity in Morgantown. The property is conveniently located inside Morgantown and Westover city limits and within two miles of WVU’s downtown campus. The property is fully leased by Wise Path Recovery Centers.
   View the detailed marketing flyer for 900 Fairmont Road. 

   32 Baird Street is an impressive 12-unit student housing asset with one office at the doorstep to West Virginia University’s Downtown Campus. This turn-key, recently upgraded asset offers attractive in-unit amenities including a washer-dryer, patio/deck area, oversized closets, keyless entry doors and granite countertops.
   View the detailed marketing flyer for 32 Baird Street.

   300 Scott Avenue – This portfolio of four buildings on Scott Avenue in Morgantown includes a total of 22,122 (+/-) square feet of space outside of city limits. Three of the buildings consist of office space, and one is an 8-unit multifamily building.
   View the detailed marketing flyer for 300 Scott Avenue.

   705 Greenbag Road is a fully leased, two-story office building comprised of 3,020 (+/-) square feet. Currently occupied by Apex Physical Therapy, the property comes with a 15-year seller sale leaseback, ensuring long-term stability. The property is located outside the city limits of Morgantown roughly 2.9 miles from I-68, Exit 4 and 2.8 miles to downtown Morgantown and West Virginia University’s main campus.
   View the detailed marketing flyer for 705 Greenbag Road.

   440, 442 Williamsport Pike is a turn-key car wash located in a high-traffic area of rapidly growing Martinsburg, WV. Excellent visibility at the intersection of Routes 9 and 11 and prominent signage make this 7,667 (+/-) square foot offering a perfect generational investment or prime redevelopment opportunity for the right buyer.
   View the detailed marketing flyer f0r 440, 442 Williamsport Pike.

   213 Lincoln Street is a multifamily investment opportunity in Grafton that offers a total of five separate apartments across one 4,301 (+/-) square foot home. All units are fully leased, and off-street parking is available.
   View the detailed marketing flyer f0r 213 Lincoln Street.

   18 Cleveland Avenue is conveniently located within walking distance to WVU’s main campus and close to many Morgantown amenities. All 5 units are currently leased, including a warehouse/industrial/office space of 3,408 (+/-) square feet currently leased by the landlord. 18 Cleveland Avenue would make a great addition to an investment portfolio.
   View the detailed marketing flyer f0r 213 Lincoln Street.

   511 Grant Avenue is a two-story, seven-unit multifamily building grossing 9,120 square feet on 0.138 (+/-) acre. Each unit is approximately 800 (+/-) square feet. This offering is in an ideal location in downtown Morgantown and in the heart of WVU’s main campus.
   View the detailed marketing flyer for 511 Grant Avenue.

   200 West Creek Village is a mobile home investment opportunity in Morgantown is comprised of a 24-lot mobile home park on 12.88 acres. This property is conveniently and strategically located just a short drive from major routes, including Route 7 and I-68, and within close proximity to Sabraton-area shopping, downtown Morgantown, and WVU’s main campus.
   View the detailed marketing flyer for 200 West Creek Village.

    

   Pennsylvania Investment Offerings:

   100 Ridgeview Drive is comprised of one 10,800 (+/-) square foot multi-tenant building on 5.08 (+/-) acres. It includes six units, with three available for lease. This is a great opportunity for a commercial investor looking for property in a well-trafficked, easily accessible location or a business looking to lease a space in a developing, commercial area.
   View the detailed marketing flyer for 100 Ridgeview Drive.

   1023 Pittsburgh Street in Uniontown, PA includes two single-story office buildings on 3.76 acres. The buildings are comprised of 30,000 (+/-) square feet, 12,000 (+/-) square feet in Building 1 and 18,000 (+/-) square feet in Building 2. Features of this investment property include two off-street parking lots and a 24-hour emergency call system with central monitoring.
   View the detailed marketing flyer for 1023 Pittsburgh Street.

   1264 Pittsburgh Street is an investment opportunity in Uniontown, PA featuring a multi-tenant building, office space, and an auto sales car lot on nearly two acres. The property features expansive road frontage and an easily accessible paved parking lot.
   View the detailed marketing flyer for 1264, 1266, 1268 Pittsburgh Street.

    

    

   References

   Asis, A. (2023, November 23). Real estate vs. stocks: Which has higher returns? US News. Retrieved September 24, 2024, from https://money.usnews.com/investing/articles/real-estate-vs-stocks-which-has-higher-returns

   Due.com. (n.d.). Real assets outperform S&P 500 consistently. Nasdaq. https://www.nasdaq.com/articles/real-assets-outperform-sp-500-consistently

3. Did you know…Your commercial property may need to be ADA Compliant?

   September 18, 2024 6:40 pm Comments Off on Did you know…Your commercial property may need to be ADA Compliant?

   Did you know your commercial property may need to be ADA Compliant?

   Almost all businesses that serve the public must comply with ADA guidelines for accessibility. This includes everything from restaurants and hotels to doctors’ offices and day care centers.

   Commercial facilities like office buildings, warehouses, and factories need to comply with the requirements of the ADA Standards for Accessible Design. The ADA Standards for Accessible Design are minimum requirements set in 2010 that must be met by commercial facilities “to be readily accessible to and usable by individuals with disabilities” (2010 ADA Standards for Accessible Design, 2010).

   Two categories that have exemptions from accessibility standards are religious organizations and private clubs.

   The following resources can help you understand more about the ADA and how it pertains to commercial real estate and ways to find out if your property needs to be ADA complaint.

   Resources
   https://www.ada.gov/topics/intro-to-ada/

   https://www.adachecklist.org/doc/fullchecklist/ada-checklist.pdf

   https://www.lexisnexis.com/community/insights/legal/practical-guidance-journal/b/pa/posts/americans-with-disabilities-act-guidance-for-commercial-real-estate-owners?srsltid=AfmBOopY1ckvrLUKOhbKstwp3Yikq-c8M8TegfBGb7k6CklkDCx6Wwy3

    

   References
   2010 ADA Standards for Accessible Design. (2010, September 15). ADA.gov. https://www.ada.gov/law-and-regs/design-standards/2010-stds/
   Businesses that are open to the public. (2024, September 16). ADA.gov. https://www.ada.gov/topics/title-iii/

    

4. Did you know…A higher cap rate can indicate a potentially higher return on investment?

   September 12, 2024 3:45 pm Comments Off on Did you know…A higher cap rate can indicate a potentially higher return on investment?

   Did you know a higher cap rate can indicate a potentially higher return on investment?

   In commercial real estate, cap rate, short for capitalization rate, is used to estimate the potential return an investor will make on a property. The formula for calculating cap rate is:

   NOI (Net Operating Income)/Asset Value

   A higher cap rate implies a higher return on investment on a property in comparison to a similar investment – but a higher cap rate also carries more risk (DiLallo, 2024).

   A property with a lower cap rate can mean lower potential returns but is also more stable and less risky. If an investor has a higher tolerance for risk and seeks the highest possible profits, they will want to target a high cap rate (Rafter, 2024).

   A few things to remember about cap rates:

   What is considered a “good” cap rate is subjective and dependent of a variety of factors – but, in general, there is agreement that a cap rate of 5-10% is healthy (Cap Rate 101: Definition, Calculation & Good Cap Rate Factors, 2022).

   According to the Commercial Market Insights Report by the National Association of Realtors, as of January 2023, the following were the national average cap rates by property sector: Multifamily: 4.9%, Office: 6.9%, Industrial: 6.2%, and Retail: 6.7% (DiLallo, 2024).

   Cap rate is most useful for determining if one real estate investment is worthwhile compared to other investments and for decision-making is best used in conjunction with other tools.

   
   Featured Properties: 

   705 Greenbag Road is a fully leased, two-story office building comprised of 3,020 (+/-) square feet. Currently occupied by Apex Physical Therapy, the property comes with a 15-year seller sale leaseback, ensuring long-term stability. The property is located outside the city limits of Morgantown roughly 2.9 miles from I-68, Exit 4 and 2.8 miles to downtown Morgantown and West Virginia University’s main campus. Cap Rate: 7.79%. View the detailed marketing flyer for 705 Greenbag Road. 

   900 Fairmont Road is a fully leased, two-story office building comprised of 10,200 (+/-) square feet. The building is currently occupied by Wise Path Recovery Centers (managed by Ascension Acquisition LLC). The property is located inside the city limits of Morgantown and Westover, situated 2 miles of West Virginia University’s Downtown Campus, shopping and more. Cap Rate: 6.79%. View the detailed marketing flyer f0r 440, 442 Williamsport Pike.

   440, 442 Williamsport Pike is a turn-key car wash located in a high-traffic area of rapidly growing Martinsburg, WV. Excellent visibility at the intersection of Routes 9 and 11 and prominent signage make this 7,667 (+/-) square foot offering a perfect generational investment or prime redevelopment opportunity for the right buyer. As-Is Cap Rate: 9.61%.  View the detailed marketing flyer f0r 440, 442 Williamsport Pike.

   1023 Pittsburgh Street in Uniontown, PA includes two single-story office buildings on 3.76 acres. The buildings are comprised of 30,000 (+/-) square feet, 12,000 (+/-) square feet in Building 1 and 18,000 (+/-) square feet in Building 2. Features of this investment property include two off-street parking lots and a 24-hour emergency call system with central monitoring. Cap Rate: 9.31%. View the detailed marketing flyer for 1023 Pittsburgh Street.

   32 Baird Street is an impressive 13-unit student housing asset at the doorstep to West Virginia University’s Downtown Campus. This turn-key, recently upgraded asset offers attractive in-unit amenities including a washer-dryer, patio/deck area, oversized closets, keyless entry doors and granite countertops. Cap Rate: 7.4%. View the detailed marketing flyer for 32 Baird Street.

    

    

   References
   Cap Rate 101: Definition, Calculation & Good cap Rate Factors. (2022, June 9). Commercial 1 Brokers. https://commercialonebrokers.com/what-is-capitalization-rate-1/.
   DiLallo, M. (2024, April 5). Capitalization rate: Everything you need to know. The Motley Fool. https://www.fool.com/investing/stock-market/market-sectors/real-estate-investing/basics/capitalization-rate.
   Rafter, D. (2024, July 2). Cap rate: What is it and how is it calculated? Quicken Loans. https://www.quickenloans.com/learn/capitalization-rate

    

    

    

    

    

    

    

    

    

5. Beginner’s Guide to Passive Income through CRE

   September 9, 2024 6:18 pm Comments Off on Beginner’s Guide to Passive Income through CRE

   “If you don’t find a way to make money while you sleep, you will work until you die.” -Warren Buffett

   Does the billionaire Berkshire Hathaway CEO have a point? Most things in life require time or money. But what if you could trade money for time?

   Financial freedom can “buy” more time to do the things you love and pursue the things you’re passionate about. One way to achieve financial freedom is through developing passive income streams.

   According to The College Investor, “Over the last two centuries, about 90 percent of the world’s millionaires have been created by investing in real estate.” This is a staggering statistic: 9 out of every 10 millionaires created their wealth through real estate investing. Moreover, a report from the IRS finds the average millionaire has not one, not two, but SEVEN sources of income. (Vandenboss, 2024).

   Real estate investing is not a “get rich quick” scheme. Real estate investing utilizes leverage, compounded over time, to an investors’ advantage resulting in long-term wealth. If purchased and managed correctly, an income producing asset should be working for you every second of every day.

   With the above in mind, it is imperative to fully understand there is risk associated with real estate investing. Commercial real estate investing is a complex process with many potential pitfalls. We recommend consulting with trusted advisors before solidifying your next investment. The information below provides some general guidelines to consider as you expand your portfolio or kick things off in a successful real estate investment venture:

   Passive may not be so passive. Creating passive income streams via commercial real estate can still be work, even if you hire a property manager. There are many angles to consider before deciding to build passive income through commercial real estate investments – and it’s not for everyone.

   Know the market. The IRS defines passive income as regular earnings from real estate activities – unless you’re a real estate professional.

   Macro-economic factors, such as interest rates, environmental policy and federal investment programs (1031, Opportunity Zones), and micro-economic factors, such as local employment trends, infrastructure and school districts, can positively or negatively impact your real estate investment. So, since you’re likely not a commercial real estate professional, consult with the experts at Black Diamond Realty.

   Rental income and appreciation over time. These are the two primary ways to generate passive income in commercial real estate. Rental income is obtained by leasing commercial property space to tenants or businesses. Passive income revenue through a property’s appreciation over time refers to investing in a property and selling it at a future date when the property has increased in value as a result of market factors, property improvements, or the economy.

   Where to start? Triple Net Leases (NNN). We have previously discussed Triple New Leases, and they can offer a perfect passive income investment strategy. Investors take a hands-off approach to building operations and maintenance while gaining a reliable cash flow source from lessees (Crowd, 2023). Two other profitable sectors for passive income in commercial real estate are multifamily and industrial properties. Multifamily properties provide steady income through leases and, as we have previously noted, industrial real estate is riding a wave of popularity due to the rising demand for ecommerce distribution centers (First National Realty Partners, 2024).

   View a selection of Black Diamond Realty: 

   • Investment/Multifamily Opportunities
   • Properties with Triple New Lease Options
   • Industrial Real Estate

    

   Article by Black Diamond Realty

   References
   Crowd. (2023, August 3). Triple Net: the ultimate passive real estate investment – Crowdvest LLC. Crowdvest LLC. https://crowdvestllc.com/resources/triple-net/
   First National Realty Partners. (2024, July 19). The Beginner’s guide to Commercial real estate investing. First National Realty Partners. https://fnrpusa.com/blog/commercial-real-estate-investing/Vandenboss, K. (2024, May 30). The average millionaire has 7 sources of income – here are 3 you can start building today. Yahoo Finance. Retrieved September 6, 2024, from https://finance.yahoo.com/news/average-millionaire-7-sources-income-164311915.html#

   __

   This article, financial analysis, and any predictions herein are based on information supplied by sources believed to be reputable. It contains selected information to formulate reasonable judgments but does not contain all the information necessary for each person’s individual circumstances.  Information and economic conditions change and are unique to each individual.  Each person must complete its own due diligence to ensure accuracy and applicability.  Information has been summarized herein to facilitate review; these summaries are not intended to be a comprehensive or individualized analysis.  THIS ARTICLE’S FORWARD-LOOKING STATEMENTS AND REAL ESTATE INVESTMENT INVOLVE RISK AND UNCERTAINTY.  PAST INFORMATION IS NOT INDICATIVE OF FUTURE RESULTS.  ACTUAL RESULTS CAN VARY MATERIALLY, AS A RESULT OF MULTIPLE FACTORS.  BLACK DIAMOND REALTY EXPRESSLY EXCLUDES AND DISCLAIMS ANY REPRESENTATION, WARRANTY (INCLUDING ANY WARRANTY OF FITNESS FOR PARTICULAR PURPOSE OR ARISING FROM CAUSE OF DEALING OR USAGE OF TRADE), CONDITION, OR UNDERTAKING THAT WOULD BE IMPLIED BY THIS ARTICLE TO THE FULLEST EXTENT PERMITTED BY LAW.

6. Did you know…There are three classifications of office buildings?

   August 29, 2024 3:47 pm Comments Off on Did you know…There are three classifications of office buildings?

   Did you know…There are three classifications of office buildings?

   Class A, Class B, and Class C are three classifications of commercial office buildings. The classifications are based on quality, condition, location, price, and amenities (Hamann, 2024). Class A, B, and C commercial office building classifications are considered subjective as price and availability of real estate varies by geographic location. For example, a Class A building in a suburb might be considered a Class B building in a city. Generally, characteristics of the three classes include:

   Class A – Class A properties are regularly the newest in their market. These buildings are characterized by high-quality construction and have the most up-to-date features and in-demand amenities. Class A office buildings often attract professional tenants like law firms and can be the most expensive (Hamann, 2024).

   Class B – Class B buildings are typically at least 10 – 20 years old and fall in the middle range in terms of quality of location and amenities. These buildings may not boast a prime location or top-of-the-line amenities but are well-maintained and functional (Tross, 2024).

   Class C – Class C office buildings are often at least 20 years or older and may need repair. The tenants of Class C buildings are more likely to be small and family-run businesses in smaller markets. While Class C buildings may be less desirable aesthetically, the rent is usually lower.

   Here are a few Black Diamond Realty’s office offerings and their features and amenities:

   315 High Street – 315 High Street is a two-story office building located in the heart of downtown Morgantown. The 9,240 (+/-) square foot building boasts a prime Morgantown location with high foot traffic, off-street parking, storage space, and proximity to many popular Morgantown amenities including WVU’s main campus. Learn more about 315 High Street.

   2004 White Willow Way – This 4,000 (+/-) square foot office space is in a great location with excellent visibility and frontage along Point Marion Road in Morgantown. The suite features a reception/waiting room, four private offices, two open office areas, one conference room, a large file/storage room, and off-street parking. Learn more about 2004 White Willow Way.

   1000 Technology Drive – Located within the I-79 High Technology Park in Fairmont, 1000 Technology Drive offers multiple office suites ranging in sizes form 1,090 (+/-) to 4,888 (+/-) square feet. The office suites feature top-of-the-line amenities including high security, free parking, a fitness center with group fitness classes, a large outdoor courtyard, and more. Learn more about 1000 Technology Drive.

   45 Professional Place – Located in White Oaks Business Park in Bridgeport, 45 Professional Place’s available suite offers a reception area, large open office/work room, conference room, storage closet, and ample parking. White Oaks Business Park is a modern, campus style business park conveniently located adjacent to West Virginia’s growing I-79 corridor. Learn more about 45 Professional Place.

   Cambridge Place – Also in Bridgeport, Cambridge Place Office Park offers premier office suites in a pristine setting. The office park, located off Thompson Drive, features high end finishes, manicured landscaping, convenient parking, and on-site management. Learn more about Cambridge Place.

    

   References

   Hamann, J. (2024, March 12). Class A, B, and C office buildings in commercial real estate. Commercial Real Estate Loans. https://www.commercialrealestate.loans/commercial-real-estate-glossary/building-classes/
   Tross, K. (2024, July 12). Class A vs Class B Office Buildings: Understanding the Key Differences. VTS. https://www.vts.com/blog/the-3-office-buildings-classes-what-do-they-really-mean

    

    

    

    

    

    

    

    

    

    

    

7. Did you know…Conducting thorough due diligence before investing in commercial real estate can reduce risk

   August 28, 2024 6:06 pm Comments Off on Did you know…Conducting thorough due diligence before investing in commercial real estate can reduce risk

   Did you know…Conducting thorough due diligence before deciding to invest in a commercial real estate property can reduce risk and help the investor avoid mistakes and evaluate their bottom line.

   Generally, due diligence in commercial real estate refers to the research, investigation, and assessment stage that occurs before purchasing or investing in a commercial property. Due diligence helps the potential investor identify risks involved with the investment and allows the investor to make the most informed decision possible. The most common factors to consider in the process are the property’s physical condition, environmental risks, zoning laws, financials, tenant leases, and the seller’s background (Junaid, 2024).

   There are many websites where investors can find due diligence checklists. The checklists all vary slightly, but, in general, a commercial real estate due diligence checklist may include:

   General

   • Physical inspections of the property
   • Obtain site plan / survey
   • Obtain property history of capital improvements
   • Reiew environmental reports

   Financial

   • Obtain most recent property tax returns
   • Review leases
   • Review rent roll and tenant history
   • Review utility bills and other property expenses

    Legal

   • Title report
   • Obtain Certificates of Occupancy, any appraisals, and all relevant contracts
   • Insurance quote
   • Zoning information, approvals, and permits
   • Licenses and warranties
   • Property management matters

   
   We are the experts in commercial real estate, to speak to a specialized Associate, call 304.413.4350. Click HERE to visit us online.

   Resources for Due Diligence Checklists:
   https://propertymetrics.com/real-estate-due-diligence-checklist/
   https://safetyculture.com/checklists/real-estate-due-diligence/
   https://www.tylercauble.com/blog/commercia-real-estate-due-diligence#checklist

   References:
   Junaid, J. (2024, February 16). How to conduct a due diligence for commercial real estate. Property Management Blog | SnapInspect. https://blog.snapinspect.com/how-to-conduct-a-due-diligence-for-commercial-real-estate/

    

    

    

    

    

    

    

    

    

8. Did you know…Triple Net (NNN) leases can provide steady, hassle-free income for property owners

   August 23, 2024 1:45 pm Comments Off on Did you know…Triple Net (NNN) leases can provide steady, hassle-free income for property owners

   Did you know Triple Net (NNN) leases can provide steady, hassle-free income for property owners?

   A triple net lease, or NNN, is a common type of lease agreement in commercial real estate. With a triple net lease, the tenant pays all expenses, like building insurance, real estate taxes, and maintenance, in addition to rent and utilities (Chen, 2024).

   With tenants responsible for expenses, investors benefit by limiting expenses and realizing nearly all the revenue (minus income taxes and debt payments).  Triple net lease investment properties can provide reliable income for an investor without the burden of property management.

   Below is a list of Black Diamond Realty NNN Properties:

   Office/Retail/Restaurant
   5000 NASA Blvd: Office | 1,622 – 15,000+ SQ FT Available | 9 Suites  View Marketing flyer
   50 Middletown Loop, Suite 200: Office/Retail | 6,200 SQ FT | 1 Suite  View Marketing Flyer
   1000 Technology Drive: Office | 1,090 – 4,888 SQ FT Available | 9 Suites  View Marketing Flyer
   430 Drummond Street: Office | 2,100 – 6,000 SQ FT Available | 2 Suites  View Marketing Flyer
   1111 Van Voorhis Road: Office Building | 7,000 SQ FT | 1 Suite  View Marketing Flyer
   699 Burroughs Street: Office Building | 5,800 SQ FT | Two-story office building  View Marketing Flyer
   1451 Earl L. Core Road, Suite 2: Office/Retail | 5,320 SQ FT | 1 Suite  View Marketing Flyer
   45 Professional Place: Office | 3,114 SQ FT | 1 Suite  View Marketing Flyer
   311 Medical Court: Office | 1,010 – 1,300 SQ FT | 2 Units  View Marketing Flyer
   1189 Pineview Drive: Office: 3,050 SQ FT | 1 Suite (spread across 3 floors)  View Marketing Flyer
   635 Pittsburgh Street: Office/Retail | 6,880 SQ FT  View Marketing Flyer
   2 Highland Park Drive: Office | 3,400 SQ FT | 1 Suite  View Marketing Flyer
   223 Everhart Drive: Office Building | 7,200 SQ FT | Three floor office building  View Marketing Flyer
   1370 University Avenue: Office/Retail/Restaurant: 1,536 SQ FT (restaurant space), 9,011 SQ FT (retail/office space) View Marketing Flyer
   215 Don Knotts Blvd: Restaurant Space | 4,625 SQ FT  View Marketing Flyer
   4922 Williamsport Pike: Retail/Restaurant: 7,000 SQ FT | building sectioned into three parts  View Marketing Flyer

   Industrial/Flex/Warehouse
   209 Venture Drive: Retail/Flex/Warehouse | 2,400 SQ FT  View Marketing Flyer
   56 Distributor Drive: Industrial Warehouse/Office Building | (total) 28,450 SQ FT  View Marketing Flyer
   255 South Plant Street: Flex Industrial Building | 21,800 SQ FT  View Marketing Flyer
   1700 Grafton Road: Industrial Building | (individual bay size) 2,400 SQ FT | 5 bays  View Marketing Flyer
   13, 15, 17 Excavation Lane: Industrial | (total) 7,500 SQ FT | can be divided into three spaces  View Marketing Flyer
   624 Armory Road: Industrial | 72,000 SQ FT  View Marketing Flyer
   5671 Benedum Drive: Flex/Industrial/Land | 26,240 SQ FT  View Marketing Flyer
   123 Turkey Run: Industrial | 2,200 – 5,600 SQ FT | Two buildings. View Marketing Flyer
   452 Industrial Park Road: Industrial | 7,626 SQ FT  View Marketing Flyer
   300 Technology Way: Industrial/Mixed-Use | 11,000 SQ FT | two floors with ability to be subdivided View 300 Technology Way

   We are the experts in commercial real estate, to speak to a specialized Associate, call 304.413.4350. Click HERE to visit us online.

    

   References

   Chen, J. (2024, July 30). Triple Net Lease (NNN): What It Means and How It’s Used. Investopedia. https://www.investopedia.com/terms/t/triple-net-lease-nnn.asp

    

    

    

    

9. Did you know…The Commercial Real Estate Market has Four Cycles

   August 14, 2024 6:39 pm Comments Off on Did you know…The Commercial Real Estate Market has Four Cycles

   Did you know understanding market cycles is crucial to commercial real estate?

   The commercial real estate market cycle has four phases: recovery, expansion, hyper supply and recession. Understanding these market cycle phases can help guide decision making when it comes to commercial real estate investing.

   Professor Glenn Mueller of the University of Denver’s Burns School of Real Estate is considered the authority on market cycle phases. He describes the phases as:

   Recovery – This is the first phase (normally following a recession), it is characterized by low demand for commercial real estate and minimal new construction products.

   Expansion – This phase is characterized by balanced supply and demand levels and a stabilized GDP.

   Hyper Supply – During the hyper supply phase, supply begins to outpace demands and construction slows.

   Recession – The recession phase is an extreme continuation of hyper supply with supply outpacing demand. This phase is characterized by falling prices and a declining market; this is when commercial real estate prices hit their lowest.

   (The Commercial Real Estate Cycle & CRE Investment Strategies, 2023)

   What CRE sector is popular right now? According to a recent Moody’s report, because of the popularity of ecommerce, industrial properties like warehouses and distribution centers are in demand (LaSalvia, 2024). Industrial properties with efficient, flexible designs that can be used as warehouses and distribution centers will be the go-to choices to fill ecommerce needs.

   Check out some of Black Diamond Realty’s versatile industrial properties:

   13, 15, 17 Excavation Lane – This industrial warehouse in Morgantown has versatile features to meet your business needs. The 7,500 (+/-) square foot property boasts four overhead doors, is available for sale or lease and can be divided into three separate spaces if desired. Learn more about 13, 15, 17, Excavation Lane. 

   1700 Grafton Road – 1700 Grafton Road is a newly built industrial building available for lease in Morgantown. The 12,000 (+/-) square foot building sits on 2.5 (+/-) acres. Features like five overhead doors, a storage yard and 20’ ceilings add to the efficiency of this property. Learn more about 1700 Grafton Road. 

   56 Distributor Drive – This industrial warehouse/office building is comprised of 28,480 (+/-) square feet and located in Morgantown. The building is equipped with five overhead doors, full drive-through capability, two loading docks, a security system and ample signage opportunity. 56 Distributor Drive can provide the efficiency and functionality your business needs! Learn more about 56 Distributor Drive.

   452 Industrial Park Road – This for lease warehouse building in Jane Lew offers versatility in a convenient location. The property is 7,626 (+/-) square feet on 3.36 (+/-) acres with easy access to I-79, Exit 105. 452 Industrial Park Road features two overhead doors, office space and a large industrial area that would make it a great option for stocking and inventory uses. Learn more about 452 Industrial Park Raod

   123 Turkey Run – 123 Turkey Run Road is a 5.5 (+/-) acre industrial property located in Salem, WV. It consists of two buildings totaling 7,800 (+/-) square feet, two flat, fenced areas for outdoor storage, two covered storage buildings and around 2.5 acres of additional land that could be developed. Learn more about 123 Turkey Run. 

   164 Eyster Road – This offering is a Jefferson County mill that has been in continuous operation since 1869! 164 Eyster Road in Halltown is comprised of 201,380 (+/-) gross square foot industrial manufacturing facility. Learn more about 164 Eyster Road. 

   We are the experts in commercial real estate, to speak to a specialized Associate, call 304.413.4350. Click HERE to visit us online.

   Did You Know: Market Cycles from Black Diamond Realty on Vimeo.

    

   Resources
   For detailed market cycle analysis – Mueller Real Estate Market Cycle Monitor

   References
   LaSalvia, T. (2024, July 2). Q2 2024 Preliminary trend announcement. Moody’s CRE. https://cre.moodysanalytics.com/insights/cre-trends/q2-2024-preliminary-trend-announcement/

   The Commercial Real Estate Cycle & CRE Investment Strategies. (2023, February 3). Avistone. https://avistone.com/learn/understanding-the-four-phases-of-the-commercial-real-estate-cycle/

    

    

    

10. Tax Incentives on Opportunity Zones Sunset in 2026, But There Is Still Time to Invest

    August 1, 2024 7:23 pm Comments Off on Tax Incentives on Opportunity Zones Sunset in 2026, But There Is Still Time to Invest

    Qualified Opportunity Zones (QOZs) were created by Congress in the 2017 Tax Cuts and Jobs Act to spur investment into distressed communities around the country. Investors are allowed to place capital gains from the sale of stocks, real estate or businesses into OZ funds without having to pay taxes on those capital gains. This is an investment strategy similar to 1031 exchanges except OZs allow the elimination of tax obligation whereas 1031s only defer tax obligations.

    If the investment is held for five years, a 10% exclusion of the deferred gain is realized; after 7 years that exclusion increases to 15%. After holding the investment in the fund for 10 or more years, the investor can realize a benefit of paying no taxes on the investment.

    Seven years into the 2017 Act, what do investors, future investors and potential land holders in QOZ areas need to know now, and is it still a wise investment?

    While one of the bigger benefits of investing in OZ funds expired at the end of 2021 (the ability to qualify for a 10 percent step-up in investment), the opportunity provided in the 2017 Tax Cuts and Jobs Act is still beneficial. The tax cut incentive has gained traction slowly, but 2022 marked the strongest year for OZ investment since its inception. Through 2026, investors can still access OZ incentives with no capital gains taxation if they hold the investment for at least a decade. The 2017 Tax Cuts and Jobs Act was designed with a 10-year lifespan and will sunset on December 31, 2026. Investing in Opportunity Zones is a generational opportunity to improve your community and reap tax incentives, and, with the Act sunsetting in 2026, investors have a limited time to take advantage. How to get started:

    To invest in an OZ, the investor must either:

    Create a Qualified Opportunity Zone Fund or

    Invest directly into a QOZ fund where at least 90% of the holdings are invested into businesses located within a QOZ.

    OZ funds can invest in either real estate development or start-up/spin-off businesses whose primary office/place of business is located inside the boundaries of the OZ.

    In West Virginia, 55 areas have been designated as Opportunity Zones over 30 counties. Regionally, parts of Morgantown, Fairmont, Clarksburg, and Grafton have been designated as OZs. Click here for a map of OZs.

    In commercial real estate, there are a couple ways to invest into a QOZ. The goal of the program is to spur development into distressed communities; therefore, one cannot purchase land under the QOZ program and just sit and hold the property. A developer can purchase raw land and make improvements to the land by developing a site where a working business entity is to be located. A developer can also purchase property with existing structures but must make investment into the property to ‘significantly’ increase the value of the property; significant is defined as at least doubling the value of the property.

    A popular new trend in Opportunity Zone investing is the chance to take advantage of the Act’s class of land identified as “the energy sector”. The energy sector includes fossil fuels and many designated QOZs are in areas renowned for energy production, like the Marcellus Formation in Pennsylvania.

    The details of the OZ fund program are fairly extensive. Please contact us at Black Diamond Realty or call your accountant or financial planner/advisor to further discuss the benefits of the OZ program.

    The properties below are Black Diamond Realty offerings that are available and located with an Opportunity Zone. Click on the addresses below to learn more about each offering.

    MORGANTOWN

    • 1399 Stewartstown Road
    • 511 Grant Avenue
    • Grant Avenue Development Opportunity
    • 315 High Street
    • 948 Chestnut Ridge Road (Chestnut Ridge Road Investment Portfolio)
    • 1110, 1116 University Avenue
    • 1189 Pineview Drive
    • 1372 Van Voorhis Road
    • 1000 Hampton Center
    • 5000 Hampton Center
    • 7000 Hampton Center

    FAIRMONT

    • 414 Corbin Place
    • 945 King Street
    • Speedway Business Park
    • Multifamily Parcel (4.13 AC) – Speedway BP

    CLARKSBURG

    • 347 West Main Street
    • 22 Milford Street

    GRAFTON

    • 213 Lincoln Street

    MARTINSBURG

    • 311 Medical Court Full Flyer Coming Soon

    Important Dates
    June 28, 2025 – Eligible capital gains recognized in 2024 must be invested by this date.
    June 28, 2026 – Eligible capital gains recognized in 2025 must be invested by this date.
    December 31, 2026 – Capital gains deferral benefit on Opportunity Zones expires.
    December 31, 2047 – The program is scheduled to fully sunset; after this date QOZ zones designations become inactive.

    Helpful Links
    IRS Website – Opportunity Zones
    Map of Opportunity Zones

11. Did you Know…Location is key in CRE

    July 30, 2024 8:17 pm Comments Off on Did you Know…Location is key in CRE

    A property in a good location can attract high-quality tenants and lead to high occupancy rates. One factor to be considered, by property owners and tenants alike, are locations with growth indicators like positive demographic trends or burgeoning cottage industries. Many of Black Diamond Realty’s offerings are located in parts of West Virginia and Pennsylvania that enjoy robust local economies and feature high daily traffic counts. Whether it’s easy interstate access, high visibility or close proximity to major amenities, here are just a few BRD offerings where location is a standout feature:

    440, 442 Williamsport Pike is a turn-key car wash located in a high-traffic area of rapidly growing Martinsburg, WV. Excellent visibility at the intersection of Routes 9 and 11 and prominent signage make this 7,667 (+/-) square foot offering a perfect generational investment or prime redevelopment opportunity for the right buyer. View the detailed marketing flyer at for 440, 442 Williamsport Pike. 

    192 Pool Drive is a versatile 10.5 acres of land in Mount Clare, WV available for sale as-is or as a build-to-suit opportunity. Located immediately along I-79 just off Exit 115 in Mount Clare, the property offers interstate visibility and easy access to major thoroughfares. 192 Pool Drive is a perfect option for an industrial retailer looking for a high-traffic, highly visible, accessible location. View the detailed marketing flyer for 192 Pool Drive. 

    Parcel 12, White Oaks is comprised of 1.57 acres of flat land, ready to be developed, within White Oaks Business Park in Bridgeport, WV. White Oaks Business Park is a modern, campus-style business park on 470 acres and home to an array of professional business services, health services, hospitality, restaurant and retail establishments. The property also boasts high interstate visibility, averaging 57,200 vehicles per day along I-79. View the detailed marketing flyer for Parcel 12 at White Oaks.

    370, 382 Kerns Street is a 9.65 (+/-) acre land offering in Inwood, WV with exceptional visibility along I-81. The undeveloped, flat land is easily accessible and close to major traffic routes and its eastern panhandle location puts it within a short drive of major cities like Philadelphia and Washington D. C. 370, 382 Kerns Street’s central and convenient location makes it an ideal commercial development opportunity. View the detailed marketing flyer for 370, 382 Kerns Street. 

    1.18 – 3.03 Acres is a commercial land offering on the south side of I-70 in Triadelphia, WV. The flat land is ready for development and offers easy interstate access and excellent visibility. The property benefits from its location in a bustling commercial area of Ohio County that includes a nearby Sheetz, a sports complex, an open-air shopping complex and many big box retailers. Featuring approximately 500 feet of road frontage and available for sale, lease or as a build-to-suit opportunity, 1.18 – 3.03 Acres is a perfect home for a retail, restaurant or office building. View the detailed marketing flyer for 1.18-3.03 Acres in Triadelphia.

    We are the experts in commercial real estate, to speak to a specialized Associate, call 304.413.4350. Click HERE to visit us online.

    <iframe src=”https://player.vimeo.com/video/989071628?h=25c31d3b88&autoplay=1″ width=”800″ height=”800″ frameborder=”0″ allow=”autoplay; fullscreen; picture-in-picture” allowfullscreen></iframe>
    <p><a href=”https://vimeo.com/989071628″>Did You Know – Location is Key</a> from <a href=”https://vimeo.com/blackdiamondrealtyllc”>Black Diamond Realty</a> on <a href=”https://vimeo.com”>Vimeo</a>.</p>

12. Gov. Justice, Sen. Capito Celebrate Aurora Flight Sciences Expansion in Bridgeport, West Virginia

    April 25, 2024 1:44 pm Comments Off on Gov. Justice, Sen. Capito Celebrate Aurora Flight Sciences Expansion in Bridgeport, West Virginia

    Aurora Flight Sciences now has plenty of additional space to spread its wings on the campus of North Central West Virginia Airport. While still attached to the main facility, this new expansion is almost an “entirely new building” and adds nearly 50,000 square feet to the existing footprint.

    West Virginia Senator Shelley Moore Capito and West Virginia Governor Jim Justice were both in attendance at the event celebrating the the completion of the project. This is big news for Bridgeport and the state’s Aerospace industry, as well as providing more jobs for West Virginia.

    To learn more, read the full article on WBOY’s website.

    Full Article Here

13. WVU Medicine to Relocate and Expand WVU Eye Institute

    April 19, 2024 8:30 pm Comments Off on WVU Medicine to Relocate and Expand WVU Eye Institute

    The WVU Eye Institute, the most comprehensive ophthalmology group in the state, will expand its clinical, educational, and research efforts when it moves into its new location at the intersection of Van Voorhis Road and Elmer Prince Drive in Morgantown.

    The WVU Health System Board of Directors approved $233.5 million in funding to construct the new multi-center outpatient facility on Wednesday (April 17). It will also include a multi-level parking garage with more than 1,100 spaces. The project is subject to regulatory approval.

    “We are excited to partner with the Eye Institute to build a world-class facility that can accelerate and expand its mission of providing the most advanced and specialized eye care to the people of West Virginia,” Michael Grace, Ed.D., M.B.A., F.A.C.H.E., president of WVU Hospitals and chief administrative officer of the WVU Health System, said.

    “A new structure for the Eye Institute also gives us additional room as we start to plan for the construction of a new cancer hospital that would be part of the J.W. Ruby Memorial Hospital medical complex.”

    The construction of the more than 150,000-square-foot facility will allow the WVU Eye Institute to better meet the needs of its patients, as it will result in a substantial increase in exam and testing rooms. The current WVU Eye Institute has 60 exam rooms and 13 testing rooms; plans for the new Institute include space for 102 exam rooms and 44 testing rooms. The new facility will also include surgical suites.

    “This is an exciting moment for the Eye Institute as it looks to a future of growth and expansion to serve our patients better, especially for those patients who need our highly specialized eye care,” Thomas Mauger, M.D., executive chair of the WVU Eye Institute and chair of the WVU Department of Ophthalmology and Visual Sciences, said. “We are the only provider in the state and in the neighboring regions in Maryland, Ohio, and Pennsylvania for most of the conditions we treat.”

    According to Dr. Mauger, the size and scale of the new facility will enable his team to be able to respond better to the brisk demand for the specialized services of the Eye Institute. A larger facility will also enable the Eye Institute to recruit more providers and expand its service offerings. It will increase the number of trainees the Institute can accommodate to continue to grow the next generation of ophthalmologists and will allow for the expansion of clinical research into new treatments for the diseases and conditions that most affect the people of the state and region.

    “Located in a state with the second highest rate of visual disability in the nation, we are discovering new ways to prevent, treat, and slow the progression of incurable eye diseases,” Mauger said. “With this new facility, we will be able to add faculty, space, and funding to continue expanding these efforts — and breaking new ground along the way.”

    For more information on the WVU Eye Institute, visit WVUMedicine.org/Eye.

     

    Original Article on WVUMedicine.org

    Original Article Here

14. Eastern Panhandle counties represent the most growth in West Virginia

    March 19, 2024 8:13 pm Comments Off on Eastern Panhandle counties represent the most growth in West Virginia

    MARTINSBURG – West Virginia’s Eastern Panhandle gave a strong showing in newly released data from the U.S. Census Bureau, with Berkeley, Jefferson and Morgan counties claiming the top three spots for growth in the state, out of only eight counties that grew in population.

    The data shows the percent change in population between every county in the United States between July 1, 2022 and July 1, 2023.

    According to the Census Bureau’s data, Berkeley County’s population grew 2.37%, while Jefferson’s grew 1.33% and Morgan’s grew 1.23%. Hampshire and Hardy counties, also a part of the Eastern Panhandle, grew 0.82% and 0.59% respectively, while the only other counties in West Virginia to see growth were Marion, Monongalia and Monroe.

     

    In total, Berkeley County’s population gained 3,061 people, while Jefferson gained 786 and Morgan gained 214.

    The population growth in Berkeley County is no surprise, considering its proximity to metropolitan areas like Washington D.C. Between 2010 and 2020, the county’s population grew by more than 21,000 people, an increase of 21%.

    Jefferson and Morgan counties growth rates have increased significantly from the previous years, almost doubling from 0.7% and 0.8 % from 2021 to 2022, to 1.33% and 1.23%.

    Between 2010 and 2020, Jefferson County’s population added 5,600 people, or about 4.6%, ranking it fourth in the state. At the same time, Morgan County’s population actually declined losing just over 300 people, about 2% of its population.

    Counties surrounding the Eastern Panhandle in states like Maryland and Pennsylvania saw similar rates of growth between 2022 and 2023.

    Nationwide, about 60% of counties experienced growth, an increase from the 52% that the Census Bureau released last year. Much of that growth took place in in the South, with 67% (950) of the counties growing between 2022 and 2023.

    Other areas, like the Northeast and Midwest, lost more in population than they gained.

    “Domestic migration patterns are changing, and the impact on counties is especially evident,” said Lauren Bowers, chief of the Census Bureau’s Population Estimates Branch. “Areas which experienced high levels of domestic out-migration during the pandemic, such as in the Midwest and Northeast, are now seeing more counties with population growth. Meanwhile, county population growth is slowing down out west, such as in Arizona and Idaho.”

     

    Original Article by Tom Markland, The Journal

    Original Article Here

15. Harmony Grove construction to begin in 2025-’26 fiscal year

    November 17, 2023 2:09 pm Comments Off on Harmony Grove construction to begin in 2025-’26 fiscal year

    MORGANTOWN — Gov. Jim Justice and the West Virginia Division of Highways have already said construction of a $70 million bridge across the Monongahela River will begin in spring 2024.

    It now looks as if construction of the new $30 million Harmony Grove interchange could begin as early as July 2025.

    During Thursday’s meeting of the Morgantown Monongalia Metropolitan Planning Organization Policy Board, three Transportation Improvement Program amendments were approved.

    All three pertained to the Harmony Grove project, including: $3.7 million in engineering work to be done in the current fiscal year; $550,000 in right-of-way acquisition in FY 2024-’25; and $25 million in construction in FY 2025-’26.

    Both the new bridge and Harmony Grove projects, totaling $100 million based on current estimates, are intended to provide better interstate access to Mountaintop Beverage and the wider Morgantown Industrial Park area.

    MPO Executive Director Bill Austin said the TIP amendments were being made at the DOH’s request.

    Inclusion in the TIP is mandatory for use of federal transportation dollars. The TIP process serves as a mechanism to ensure local support for federally funded projects.

    “For the DOH to use federal funds, they need to be approved by our policy board in the transportation improvement program. If the policy board doesn’t approve it, they cannot use federal funds,” Austin explained.

    However, unlike most transportation projects, a majority of the funding for the Harmony Grove interchange will ultimately be generated locally.

    The process was spelled out in a September 2020 memorandum of understanding between the Monongalia County Commission, Enrout Properties, and the West Virginia Department of Transportation.

    The MOU explains that in addition to extending infrastructure into the expanded industrial park, increment from the creation of the MIP Harmony Grove TIF district will be used to reimburse the state for the interchange.

    This is the same process the county and developer WestRidge used to construct I-79’s Exit 153. That project was completed for $22 million in 2016 and paid off by mid-2020, according to The Dominion Post archive.

    County Commissioner and policy board member Sean Sikora said the county and the developer will have to iron out the details of the Harmony Grove repayment with the state.

    Joe Statler, representing Blacksville on the policy board, requested the parties do so sooner rather than later.

    “I would hope that question and conversation won’t slow this project up,” he said. “Don’t stop this project for anything.”

    Original Article by Ben Conley, The Dominion Post

16. Why Choose Black Diamond Realty? Our Customized Process

    October 23, 2023 8:30 pm Comments Off on Why Choose Black Diamond Realty? Our Customized Process

    It’s highly unlikely to win a game of pool just by hitting the break.  Likewise, closing a commercial real estate transaction takes planning and careful execution. At Black Diamond Realty, we understand the uniqueness in every property we market, in every deal we secure, and in each client we serve.  That attention to detail is not unlike that in the game of pool, where each shot must be meticulously designed according to the terrain of the felt, the balls in play, and the pockets.

    The Black Diamond marketing team works diligently from the start to create custom flyers, engaging posts on various social media platforms and other marketing efforts to advertise our clients’ assets. We provide our agents with an arsenal of materials so they can be proactive in seeking the right tenants or buyer for their location.  With each marketing presentation, we craft a story that appropriately aligns with our clients’ goals and promotes the attractive elements of their assets.  These exclusive, personalized marking presentations are critical as we reach those in our local market in addition to tenants and investors outside of the north central West Virginia and eastern panhandle communities, through nationally recognized CRE marketplaces like LoopNet and CREXi.

    The talented individuals on our marketing team have a combined 13 years of experience in the real estate industry and 23 years of experience in advertising and design. When it comes to marketing our clients’ assets, we sink the eight ball every time.

17. State taking comments on bridge project slated to begin in spring 2024

    October 5, 2023 11:54 am Comments Off on State taking comments on bridge project slated to begin in spring 2024

    A barge has been deployed and a contractor working with the West Virginia Division of Highways will start boring riverbed core samples this week as a preliminary step in the DOH’s plan to build a new bridge across the Monongahela River.

    While dates are approximate and subject to change, the DOH has said it would like to begin construction of the project — formally identified as the Morgantown Industrial Park Access Project — in the spring.

    DOH Assistant Director of Engineering Dirar Ahmad said the drilling is part of the NEPA, or National Environmental Policy Act process as well the state’s due diligence for any such project.

    “The core boring is part of the exploratory information that we need so we can make an engineering decision before we move forward,” he said. “Sometimes geology is tricky. You may have rock 60-foot deep on one side of the river, but you get to the other side and it’s deeper or it’s more shallow. We don’t take chances when it comes to the safety of the public.”

    Ahmad was one of the DOH representatives in the Westwood Middle School Gymnasium Tuesday evening for a public meeting on the project. The DOH is taking public feedback through Nov. 3.

    The state has said it intends to build the bridge by the end of 2025 to expedite interstate access for trucks headed to and from the industrial park, and specifically, Mountaintop Beverage.

    In August, the Morgantown Monongalia Metropolitan Planning Organization weighed in, selecting the state’s Alternative 3 as the bridge location.

    Alternative 3 improves the industrial park’s existing Rail Street, crosses the river on a multi-span bridge, and joins U.S. 119 (Don Knotts Boulevard) near Scott Avenue. A connection to Smithtown Road will also be provided and a portion of Master Graphics Road, connecting to River Road, will also be improved and paved.

    The state has maintained the bridge will be built in addition to a new I-79 Harmony Grove interchange, which has been in the works for years and is caught up in the federal regulatory process.

    As a resident of Master Graphics Road, Sharlene Fortney has been following that project closely from the beginning.

    She was one of multiple people at Tuesday’s meeting who said she simply cannot understand, or foresee, the state building both projects.

    “They keep saying that interchange is coming. The trucks roll by every day. I just want to know the deal. I think this bridge will help, but what’s the point of the bridge if you say you’re putting the interchange in and they’re going the same directions,” Fortney said. “They keep saying they’re doing both. That seems like an incredible amount of money to me, and it doesn’t really seem to make sense.”

    Those wishing to file written comments may do so before Nov. 3. Send comments to Travis Long, director of the Technical Support Division of the West Virginia Division of Highways, at 1334 Smith St., Charleston, WV 25301.

    Original Article by Author: Ben Conley, The Dominion Post

    Original Article Here

18. Eco-friendly food packaging company opening facility in Martinsburg

    September 20, 2023 4:07 pm Comments Off on Eco-friendly food packaging company opening facility in Martinsburg

    A new eco-friendly food packing company will open a facility in Berkeley County, bringing 600 jobs to the area.

    Gov. Jim Justice announced the new economic project Thursday during the West Virginia Chamber Annual Business Summit at his luxury resort, The Greenbrier.

    Treplar will invest $50 million into the state and is opening a facility in Martinsburg. Justice said the facility will be up in running in the next couple of months.

    “Treplar is currently testing a new generation of food packing material that is 100% home compostable,” the Republican governor said.

    The company mission is to “help food businesses seamlessly transition away from banned single-use plastic to a more sustainable product that benefits our industry — and the planet,” according to its website.

    Treplar makes food retailer trays, plates and more using a technology known as “XPET,” a sustainable solution to hard-to-recycle polystyrene trays.

    “Our new project is a catalyst for change,” said Murat Ogulcan, president of Treplar, who thanked the governor for his support. “We found a new home in West Virginia.”

    The governor’s office said the company did not receive any incentives to launch in West Virginia.

    The summit has so far been packed with economic announcements for the state, including a $800 million restart for the Pleasants Power Plant in St. Marys and a program that looks to keep Marshall and West Virginia University graduates in the state.

    The event, which has been attended by state leaders and business owners, wraps up Friday.

    Many of the announcements have centered on reversing the state’s population decline — the fastest in the country — by providing jobs and incentives to remain in state.

    “What’s going on in this state, it’s absolutely a movement toward jobs and opportunity for our kids,” said Justice, who is running for a U.S. Senate seat in the 2024 election.

    Following the announcement, Justice said he was leaving the resort to survey flood damage in the state. The governor declared a state of emergency in five West Virginia counties — Kanawha, Braxton, Calhoun, Clay and Roane counties — because of heavy rain and flooding.

    Original Article by Amelia Ferrell Knisely

    Original Article Here

19. Why Choose Black Diamond Realty? We are Proactive

    September 1, 2023 2:20 pm Comments Off on Why Choose Black Diamond Realty? We are Proactive

    Black Diamond Realty Will Quarterback your Deal Across the Goal Line

    Every successful football team is led by a quarterback. Quarterbacks think on their feet, capitalize on the strengths of their team, call audibles when necessary and read and anticipate the defensive strategies of the opposing side, all with one goal in mind: getting into the end zone. Commercial Real Estate (CRE) transactions, both simple and complicated, need a strong quarterback to get deals across the goal line.

    Much like a defense on a football team, some ‘defenders’ are both working directly against you while others are working to protect their own interests.

    Defensive Team in CRE

    Safeties – Time and Regulations

    Line Backers – Zoning, Inspections and Utilities

    Cornerbacks – Financing and Legal Issues

    Defensive Ends – NIMBYs (Not In My Back Yard) and Surveys

    Defensive Line – Sellers and Buyers

    A good quarterback will assist you with the challenges that arise during a touchdown drive. Reading the safeties before the play, calling an audible when the line backers are lined up staring you down, checking down to your 2nd and 3rd wide out when the corners are in position to shut you down, nimble enough to escape the defensive ends when they blow past your lineman, and most important keeping the defensive line from blowing up your play or drive with a sack or tackle for loss.

    With over eight years of experience and wisdom, I have quarterbacked dozens and dozens of deals across the goal line. I have seen that you not only need a winning quarterback to consistently lead a championship team, but the team he plays for needs to have a winning culture like Black Diamond Realty. Very few deals have lined up like ‘the perfect play’ where everyone maintains their assignment, the perfect pass is thrown and caught for a 65 yard TD. Reading the challenges that lay ahead, thinking on my feet, directing receivers where to go is what separates a championship quarterback from one who is just good enough to be there.

    Black Diamond Realty has the experience and expertise to help navigate your commercial real estate deal, play-by-play, first down after first down, to get across the goal line. We offer a championship caliber lineup of top-notch quarterbacks that design winning game plans and ensure successful transactions while leading with a winning attitude. As another exciting season of college football is upon us, Team BDR is suited up and ready to lead you and your team to a win on the field of commercial real estate.

20. What’s the Difference Between Commercial Real Estate and Residential Real Estate?

    August 22, 2023 4:31 pm Comments Off on What’s the Difference Between Commercial Real Estate and Residential Real Estate?

    What’s the Difference Between Commercial Real Estate and Residential Real Estate?

    Contrary to popular belief, there are quite a few differences that ultimately affect the outcome of your real estate journey. David Lorenze, Principal at Black Diamond Realty, and Melissa Hornbeck, Broker of White Diamond Realty, sit down to answer some important questions that help differentiate the two.

    While anyone in the state of West Virginia who takes the real estate exam can practice both commercial and residential real estate, we believe there are a number of large differences between the two and that it takes specialized expertise to navigate the two fields

    Having Black Diamond Realty to specialize in commercial real estate, and White Diamond Realty to specialize in residential real estate, means that each of our teams can focus on honing their skills to give our clients the best possible service no matter what side of the table they’re on.

    Watch the Video Here

21. Morgantown made the list for “20 Best Small Towns to Retire”

    August 21, 2023 6:42 pm Comments Off on Morgantown made the list for “20 Best Small Towns to Retire”

    When you’re ready to retire, we’ve got a destination. Whether you prefer beaches, mountains, cities or college towns, there’s a match for you. We looked at small towns with populations up to 100,000 residents that have been touted for their low cost of living, affordable housing, public safety, good-quality healthcare and low tax rates.

    We also looked at towns with lots to do for active retirees, including outdoor recreation, historic sites, live music, cultural performances, sporting events and bike trails. Many of these picks are in close proximity to universities and strollable historic districts with shopping, coffee shops and restaurants.

    Here are 20 of our favorite small towns all across the country that are worthy of being selected as your retirement destination of choice.

    Greenville, South Carolina

    Set in the foothills of the Blue Ridge Mountains, Greenville offers a captivating mix of natural beauty and Southern charm. The climate is mild, the cost of living is low and there is a lot to do thanks to a thriving food scene and easy access to hiking and biking trails, including those at Paris Mountain State Park. The centerpiece of Greenville is Falls Park on the Reedy, a 26-acre urban oasis that boasts a waterfall, dog-friendly paths and a 345-foot-long pedestrian footbridge. Stop in Spill the Beans for a morning cuppa or afternoon scoop of ice cream.

    Iowa City, Iowa

    College towns, like Iowa City, make great places to retire thanks to an abundance of sporting events, lectures and artistic performances. There are also on-campus art galleries and museums, like the University of Iowa Museum of Natural History. In Iowa City, you’ll find a low crime rate and plenty of good doctors, thanks to the nationally ranked University of Iowa Health System. Cheer at a football game at Kinnick Stadium, home of the Hawkeyes, or stroll the Literary Walk, which celebrates the works of nearly 50 accomplished writers with ties to Iowa City.

    Lawrence, Kansas

    Home to the University of Kansas, Lawrence is a quintessential college town with arts, culture, sports and plenty of open, green spaces. It’s also a great place to retire thanks to affordable home prices and zero estate tax. It’s among the most bike-friendly cities, too. There are miles of bike lanes and bike paths across Lawrence. Stroll across the beautiful historic district, which has plenty of coffee shops, boutiques, pubs and cafés. The Lawrence Farmers’ Market is the place to be on Saturday mornings for locally roasted coffee and organic produce.

    Roanoke, Virginia

    In the heart of Virginia’s Blue Ridge Mountains, Roanoke distinguishes itself as a destination of choice for outdoor-loving retirees. Enjoy a scenic drive along the Blue Ridge Parkway or hike to the Roanoke Star, the world’s largest man-made star that wows with views across the Roanoke Valley. Downtown, Center in the Square is home to several attractions, including the Harrison Museum of African American Culture and Roanoke Pinball Museum. A move to Roanoke rewards with low median home prices, easy access to top-quality healthcare and, of course, fresh mountain air.

    Carmel, Indiana

    Carmel has a lot to offer those seeking the perfect retirement destination, including arts, culture, shopping and public parks. It’s also a short drive from the state’s capital, Indianapolis. Biking is popular, thanks to the Monon Trail, a paved rails-to-trails path that stretches 20 miles from Carmel to Indianapolis. Eight bike rental stations along the path make biking the trail accessible to anyone. To be sure, Carmel is more than just a suburb of Indianapolis. Carmel has its own symphony orchestra, world-class performing arts center and Carmel Christkindlmarket, a German-style holiday market.

    Franklin, Tennessee

    Franklin may be just 30 minutes south of Nashville, but it’s got plenty to offer on its own, including golf courses, historic sites, art galleries and beautiful parks. It’s also a popular home for celebrities like Justin Timberlake and Keith Urban and Nicole Kidman which affords them easy access to all of the big city amenities of Nashville. Franklin is home to the double-arched Natchez Trace Bridge, which is photo-worthy year-round, but offers sensational views of the surrounding landscape from on top of the bridge in the fall. Stroll the 16-block historic district for quaint boutiques and delicious brunch spots, like Ruby Sunshine. It’s easy to love Franklin’s abundance of sunny days, little snow accumulation, low state taxes and a plethora of outdoor recreation opportunities.

    Eagle, Idaho

    The small town of Eagle has a lot that makes this Boise suburb appealing to active retirees, including access to hiking and skiing, a top-ranked golf course, loads of city events, and a walkable downtown district with boutiques, galleries, restaurants and coffee shops. It’s easy to love the laid-back atmosphere and gorgeous mountain scenery. Enjoy a sandy swimming beach in summer at Eagle Island State Park or get in a few hours of skiing in winter at Bogus Basin. Creative types can sign up for a class at Fusions Glass Studio.

    Cedar Park, Texas

    Set in Texas Hill Country, Cedar Park wows with beautiful green spaces, scenic wine trails, public golf courses, and fashionable boutiques like Honey & Hay, which sells stylish home decor and seasonal gifts. Ample sunshine, plentiful outdoor recreation, professional sports and no state income tax make Cedar Park a dream for retirees. Stroll the Cedar Park Sculpture Garden on Main Street, then take in an ice hockey game at HEB Center and root for the Texas Stars. When you want to go into the city, Austin is an easy 30-minute drive.

    Liberty, Missouri

    The Kansas City suburb of Liberty has so much for active retirees, including low home prices, sporting events, city parks and historic homes. Take in a football or soccer game at William Jewell College. On campus, the Folly Theatre and Kauffman Center for the Performing Arts host live performances for the community. Walk the nature trails at Martha Lafite Thompson Nature Sanctuary, then head into town for a delicious BBQ lunch at Jousting Pigs. To brush up on local history, hit up the Jesse James Birthplace Museum.

    Catalina Foothills, Arizona

    For warm winters, the fashionable Tucson suburb of Catalina Foothills is a favorite place to retire. It’s also one of the best places to live in the entire Tucson area thanks to multiple golf courses, a flourishing food scene, and numerous hiking trails across Sabino Canyon and Mount Lemmon. Catalina Foothills is also a stone’s throw from Saguaro National Park, which is home to the largest cacti in the United States. There are plenty of amazing restaurants too, including open-air Contigo Latin Kitchen and Fini’s Landing.

    Charlottesville, Virginia

    There’s a lot to love about Charlottesville, including historic landmarks, world-class wineries, public art, and, of course, the University of Virginia, which means plenty of great music and interesting speakers come through town. Explore Monticello, home to our third president, Thomas Jefferson. Then make stops for reds, whites and rosés along the Monticello Wine Trail. The IX Art Park is a small outdoor park with murals, sculptures and a concert stage. Outdoor-loving retirees will enjoy being in close proximity to Shenandoah National Park, which has more than 500 miles of hiking trails.

    Bozeman, Montana

    Bozeman ranks among the top places to retire thanks to quality healthcare, beautiful mountain scenery, and lots of cultural activities, including the opera, symphony, live concerts and ballet. Of course, outdoor recreation is tops, too. There are two nearby ski resorts – Big Sky and Bridger Bowl – as well as lots of hiking and biking trails. Bozeman is also less than 90 minutes from Yellowstone National Park. Dining options are endless, too. You’ll find everything from fresh sushi to smoked barbecue to elevated ramen, as well as five breweries.

    Burlington, Vermont

    Set on the eastern shore of sprawling Lake Champlain in Vermont, Burlington is a dream for water-loving retirees who are all about the lake life, whether sailing, kayaking or motor boating. On the Adirondacks’ largest lake, you can launch boats of all kinds. Off the water, the pedestrian-friendly Church Street Marketplace draws in visitors and residents alike with eclectic art galleries, food carts, bookstores and outdoor gear shops, even a Ben & Jerry’s scoop shop. For lifelong learners, Vermont residents aged 65 and up receive free tuition at the University of Vermont.

    Easton, Maryland

    Set on Maryland’s Eastern Shore, Easton is a stone’s throw from the Chesapeake Bay, a popular destination for sailing and boating. Stroll the charming tree-lined streets of Easton for antique shops, stylish boutiques, award-winning restaurants and ice cream parlors. A favorite is Storm and Daughters Ice Cream. Take in a performance at the Avalon Theatre, then revel in green spaces like Idlewild Park and Thompson Park. Access to health care is very good thanks to a regional health system affiliated with the University of Maryland.

    Cheyenne, Wyoming

    There’s a lot to do in Cheyenne, especially for those who are all about cowboy and railroad history. Western heritage is huge in Cheyenne, so it’s no surprise that Cheyenne is home to the world’s largest outdoor rodeo. At the Cheyenne Depot Museum, you can learn all about the history of the Union Pacific Railroad, which opened the West up to the masses. There’s also country line dancing, horseback riding, fishing and hiking at Vedauwoo Recreation Area. A real bonus for retirees, Wyoming is among the most tax-friendly states in the US.

    Morgantown, West Virginia

    Home to West Virginia University, Morgantown is a popular place to retire thanks to a low cost of living, plenty of public parks, and lots of on-campus diversions, like football games, extension classes, a symphony orchestra and an art museum. The university also adds to the abundance of medical services available in this small town. There are plenty of ways to savor the town’s natural beauty too, including hiking Dorsey’s Knob for views across the Appalachian Mountains. Hungry? Grab a bite at Table 9, a modern gastropub, or Iron Horse Tavern, a go-to for great pub grub.

    Richland, Washington

    In Washington, look to Richland for sunny days, delicious wine, public parks and easy access to healthcare thanks to its proximity to several large hospital systems. Washington has no state income tax, so retirees can hold onto more of their money. Water activities are popular thanks to a location at the confluence of the Columbia and Yakima Rivers. Located in Washington Wine Country, wine tasting is popular, and there are plenty of choices. More than 200 wineries are within one hour of the Tri-Cities region, which includes Richland, Kennewick and Pasco.

    Portland, Maine

    Portland is among the best places to retire for a variety of reasons, including a lower cost of living and relatively affordable housing. Portland also wins over retirees with its small-town feel paired with amenities more commonly found in big cities, like good-quality healthcare and a thriving culinary scene. Retirees love that Portland has its own Arts District, which hosts First Friday Art Walk events at galleries, studios and arts venues across town. In 2018 Portland was named Restaurant City of the Year by Bon Appetit. That means you’ll find serious eats here, like Fore Street Restaurant and Duckfat.

    Pittsfield, Massachusetts

    Located in the Berkshires region of western Massachusetts, Pittsfield is a great place to retire thanks to its natural beauty, historic sites and relative affordability, at least for New England. The Upstreet Cultural District wows with live music, theatre performances and community festivals, while in-town dining features eclectic cafes, a vegan diner, burger joints and coffee lounges. Hike the trails at Pittsfield State Forest, then watch a live performance at Colonial Theatre. Hancock Shaker Village lets you step back in time to the 18th century with artifacts, crafts and gardens. In winter, look to Bosquet Mountain for skiing and snowboarding.

    Fayetteville, Arkansas

    Fayetteville is among the best places to retire thanks to plentiful outdoor recreation opportunities given its location in the Fayetteville. Home to the University of Arkansas, Fayetteville is one more college town that has a lot to offer retirees, including sporting events, cultural museums and theatre performances. As a bonus, residents aged 60 and up can take college classes tuition-free. Downtown, look for tempting restaurants, like Mockingbird Kitchen for contemporary fare and Vetro 1925 for upscale Italian. In winter, the Lights of the Ozarks lights up the historic downtown square.

    Original Article by Erin Gifford, HGTV

22. Latest White Oaks Project, with Near $3 Million Price Tag, Ready to Wrap up for $10 Million-Plus Business

    August 9, 2023 8:54 pm Comments Off on Latest White Oaks Project, with Near $3 Million Price Tag, Ready to Wrap up for $10 Million-Plus Business

    A multi-million-dollar project at the White Oaks development that began in January is still going strong eight months later. Not only going strong, but nearly finished.

    Since the start of the project in an area described as White Oaks Phase II-A, roughly 350,000 cubic yards of dirt has been moved at the site. Most of the work is being done to facilitate the future home of Jenkins Subaru and Jenkins Hyundai.

    “The contractor is just about ready to wrap things up and should be putting the finishing touches on the earth work,” said Austin Thrasher, the project manager representing High Tech Corridor Development who is responsible for development at White Oaks. “As we get into (this)week, I look for them to be spreading the topsoil.”

    Once finished there will be plenty of new, flat acreage available. The Jenkins family will assume 17.7 acres at White Oaks, 13.7 of which will be usable. The additional four acres will be hillside. All of the land is visible from the interstate.

    The Jenkins family of dealerships in Bridgeport will eventually move from their current location on Lodgeville Road and it is anticipated to begin construction in 2025. The current Jenkins property, which can be seen from the northbound side of I-79, is roughly eight acres. The current building is roughly 4,600 square feet. The new site will house buildings for both Subaru and Hyundai. The size of those buildings will be determined at the time of construction with input from the manufacturer. The project, according to the Jenkins family, will top $10 million.

    The entire work area will cover 40 acres, City Engineer Beth Fox said earlier this year. For those not familiar with the site work, it is in an area stretching from Route 131 to an area near The Thrasher Group building that is visible from the interstate.

    As part of the earth moving, another flat parcel was created, Thrasher said. He said it covers roughly seven acres and is separate from what the Jenkins family will obtain.

    Access will be able to be reached to the Jenkins acreage through White Oaks Boulevard. It can also be reached, said Thrasher, from a lower area before the main White Oaks entrance off of Saltwell Road known as Wildlife Lane. Those won’t be the only entrances to the new acreage.

    “We’ll be working on a turn lane to access the additional seven-acre parcel in the future; a left turn lad directly into that pad,” said Thrasher. “It is down from the assisted living facility you can see and during the construction there will always be one lane open so it should not disrupt traffic. If it does, it will be insignificant.”

    That leads to the question of whether the new pad was built to meet the needs of a client that was coming aboard. The answer, said Thrasher, is no.

    “That’s up for sale. We’ve had a few looks at it, but nothing significant or solid as far as something serious,” said Thrasher.

    Doss Enterprises handled the $2,851,282.70 earth-moving project, along with the placing of some infrastructure, as a lot of infrastructure was already in place. The Thrasher Group has handled the engineering.

    Original Article by Jeff Toquinto on connect-bridgeport.com

    Original Article Here

23. Why Choose Black Diamond Realty? Our Negotiation Skills

    August 2, 2023 7:51 pm Comments Off on Why Choose Black Diamond Realty? Our Negotiation Skills

    Love all, serve all. 

    I started playing tennis with my parents at a very young age.  It was a way my family and I spent time together as well as with other friends and neighbors in our community. In the game of tennis, both players begin with a score of ‘love.’ To start a game, one player serves the ball to the other player, then the volley back and forth begins.  Negotiating a commercial real estate transaction has similarities to a tennis match. One party must ‘serve’ an offer to the other, then the volley back and forth begins.  Also like in the game of tennis, a good commercial real estate professional seeks information to learn about their opponent and their strengths and weaknesses.  This informs the delivery of the initial serve (or offer) and the anticipated reaction.  This helps when ‘serving’ an offer on a property.

    I recently played the negotiation game for a new business in Morgantown. This retailer has over 29 locations nationwide where they provide the ultimate shopping experience and a unique selection of clothing and merchandise for the entire family. They have now grown to become the hometown college store for some of the greatest fan bases in the country. I knew they would be perfect for one of our most popular shopping centers here in Morgantown. My client and I worked together to come up with the perfect initial ‘serve’ to start the negotiation game. We went back and forth with the landlord several times before we landed on terms that worked for all parties involved. My client is set to open their doors the first weekend in September so they can ‘serve’ WVU football fans for the first home game.

    ‘Love all, serve all’ is actually the Hard Rock Café slogan, but it has always reminded me of tennis and how all players begin their match on equal ground. To the Hard Rock Café, the slogan represents their commitment to embracing diverse communities and to promote health, wellness, and environmental sustainability throughout their regions of operation. Similarly, Black Diamond Realty works to embrace and understand our community to serve all of our clients with love.

24. State Adds $70 Million Bridge to its Morgantown Industrial Park Connectivity Plans

    July 28, 2023 2:00 pm Comments Off on State Adds $70 Million Bridge to its Morgantown Industrial Park Connectivity Plans

    Due to the complexities of the federal regulatory process, the state of West Virginia is worried it can’t make good on its promise to deliver improved interstate access to Mountaintop Beverage via a new I-79 Harmony Grove interchange in a timely fashion.

    To remedy that, the West Virginia Division of Highways now says it’s going to build a $70 million bridge over the Monongahela River by the end of 2025 in addition to building the nearby Harmony Grove exit, currently estimated at $41 million.

    The key phrase there is “in addition to.”

    “It’s not a give and take. It’s a give and give situation,” Morgantown Monongalia Metropolitan Planning Organization Executive Director Bill Austin said. “They are committed, from everything they’ve told us, to Harmony Grove and to this bridge idea.”

    Local officials have been digesting this information for about a week. It was made public on Wednesday.

    But it’s been brewing in Charleston at least since May.

    That, according to Austin, is when he heard secondhand that the DOH had hired a consultant under the auspices of the Harmony Grove project to conduct a feasibility study.

    On July 18, an advertisement ran in the Charleston Gazette-Mail seeking a firm to produce right-of-way plans and construction contract plans for a bridge connecting U.S. 119 to the industrial park.

    On July 19, the DOH showed up with the preliminary design study in hand to inform local officials of its intentions and task the MPO Policy Board with selecting a location for the new bridge.

    When it meets in August, the MPO Policy Board will select from:

    • A bridge crossing the river south of the Morgantown Lock and north of the BFS gas station on Don Knotts Boulevard. This option would include a more basic bridge but require a complete reconstruction of River Road. A portion of the existing River Road would remain to provide access to homes and businesses.

    • A crossing that would meet U.S. 119 north of Scott Avenue and include an intersection with Smithtown Road. This option would require a more expensive bridge but connect directly to the southern end of the industrial park’s street network.

    Due to topographical challenges, a third option crossing the river at Green Bag Road was eliminated.

    According to data provided Wednesday, all options were estimated to fall between $64 million and $71 million.

    Ultimately, Wednesday’s announcement begs a question – will the state actually build two projects currently estimated north of $110 million to better connect the industrial park?

    Both Austin and Morgantown Area Partnership President and CEO Russ Rogerson say they believe it will.

    One, Rogerson said, the state has committed to doing so. Two, he continued, the Harmony Grove project will be primarily financed locally through the new Morgantown Industrial Park TIF district.

    “At some point you have to say ‘We trust you’ or ‘we don’t trust you.’ If the option is not allowing the state to meet the commitment they made to Mountaintop – if we say no – then we’re automatically saying Mountaintop is not going to expand and we’re not going to have anything for the industrial park. At that point we might as well fold up shop,” Austin said. “Everybody is taking it at face value. I understand the skepticism. I was skeptical.”

    In May, Mountaintop Beverage CEO Jeffrey Sokal told The Dominion Post the 330,000 square-foot bottling facility wouldn’t be in West Virginia without infrastructure commitments from the state — specifically the new Harmony Grove interchange.

    On Wednesday, he said he believes the state will honor that commitment, allowing both Mountaintop Beverage and the surrounding park to grow.

    “On a long-term basis, [Morgantown Industrial Park] access to both 68 via the bridge and 79 via Harmony Grove makes this industrial site and the 100 or so acres of undeveloped property extremely attractive to companies like Mountaintop,” Sokal said.  “The governor, the DOH and local representatives like Senator Mike Oliverio and Delegate Joe Statler should be commended for making this happen.”

    Monongalia County Commission President Tom Bloom said he too is hopeful everything the DOH has promised will come to fruition.

    “They have continued to state that this administration is in support of moving ahead on both projects,” he said. “We have requested to get that in writing, and we have gotten as much assurance as we can get without getting it in writing.”

     

    Original Article by Ben Conley on dominionpost.com

    Original Article Here

25. Mountain Valley Pipeline Receives FERC Approval to Resume Construction

    June 29, 2023 4:26 pm Comments Off on Mountain Valley Pipeline Receives FERC Approval to Resume Construction

    Federal regulators have given the Mountain Valley Pipeline the green light to restart construction.

    The Federal Energy Regulatory Commission issued an order Wednesday allowing developers to “proceed with all construction activities.”

    Work on the project is expected to resume “shortly,” said Natalie Cox, director of communications and corporate affairs for project developers Equitrans Midstream Corp., in an email to WV News.

    “We expect the first of several forward-construction crews to begin work on the right of way shortly, and Mountain Valley continues to target project completion by year-end 2023,” she said.

    US Sen. Shelley Moore Capito, R-W.Va., celebrated the news on Twitter.

    “I just received confirmation that the Mountain Valley Pipeline has received approval from the Federal Energy Regulatory Commission to resume all construction activities,” she said in a tweet posted Wednesday afternoon. “This was the final step needed for the MVP to be completed. Great news for WV and American energy!”

    On Friday, Capito announced that the U.S. Army Corps of Engineers had issued the final federal permit needed to restart construction.

    “The Mountain Valley Pipeline is set to receive its final Sec. 404 permit from the U.S. Army Corps of Engineers!” she said in a tweet. “This critical step forward is because of a provision I helped include in the Fiscal Responsibility Act that will expedite the MVP’s completion.”

    On June 16, Gov. Jim Justice said the West Virginia Department of Environmental Protection had issued the MVP’s final state-level permit.

    “To the best of my ability, I’m not aware of anything else that is another step that people are waiting on,” he said. “If there be another step, we’ll be on it. I believe that construction has the possibility of starting real, real, real soon.”

    The Fiscal Responsibility Act, the package passed by Congress earlier this month following an impasse over raising the nation’s borrowing limit, mandated all federal permits required for the stalled pipeline to resume construction be issued by last Saturday.

    The MVP project was initially started in 2014. Equitrans Midstream said at the time, the pipeline was expected to be completed by the end of 2018 at an overall cost of around $3.5 billion.

    The company recently said the current estimated total cost is approximately $6.6 billion.

    In West Virginia, the MVP’s route runs through Braxton, Doddridge, Fayette, Greenbrier, Harrison, Lewis, Monroe, Nicholas, Summers, Webster and Wetzel counties.

     

    Original article by Charles Young on WVNews.com

    Original Article Here

26. Why Choose Black Diamond Realty? We are Committed

    June 27, 2023 2:07 pm Comments Off on Why Choose Black Diamond Realty? We are Committed

    Life is a marathon, not a sprint.

    In the daily race of my life, I often think about the famous idiom; Life is a marathon, not a sprint.  As an active runner, I appreciate the connection to the various cadences it describes.  As a commercial real estate professional, I appreciate the reassuring motivation it brings to ‘staying the course.’  Regardless of whether you associate the adage with mental or physical navigation and speed, being reminded of the importance and payoff of patience and persistence is always reassuring.

    Navigating a successful commercial real estate closing or sale often brings twists and turns, complicated scenarios, and unexpected lane changes.  These hurdles and the obstacle course of the deal are an exciting challenge for me, as I maintain patience in pursuit of the goal on the horizon.  As with any race that I begin training for, I study the course, understand the terrain, and build a roadmap of my training schedule, all with the end in mind. I do the same with my work in commercial real estate closings.  As a committed commercial real estate professional, part of my job is to assess the course, to learn, understand, and anticipate the hurdles, and to persevere under pressure.  This commitment to time, talent, and patience is what sets me and our BDR team apart from others running the race.

    Recently, we successfully negotiated the sale of a property that was near and dear to my heart. This client was my first client upon joining Black Diamond Realty over three years ago. The client and I became very close, so much that my week didn’t feel complete if I hadn’t spoken to her. The property she wanted to sell was a very specialized asset and was going to take a buyer that was ‘just right.’  We actively marketed this property for nearly three years. We utilized letter campaigns, targeted marketing, postcard campaigns, cold calling, carrier pigeons (just kidding)— you name it, we did it! When we finally found the perfect buyer, the fun really began.  Getting the purchase agreement signed was the first hurdle of the deal and getting to the finish line was a true test of patience and endurance.

    After ten months of perseverance, the property changed hands. Time has shown me that when things pop up on appraisals or inspections, it is important to be patient, to stay the course, and to continue to push forward to find a successful resolution. When the dust finally settled and we closed on this sale, we achieved our clients’ goals AND the buyers’ goals as well. This is what we strive for with all of our transactions.

    Every property is different.  Every transaction is different. Every race is different.  However, there is always a path that ends at the finish line and Black Diamond is the commercial real estate team that knows the way.  Have our team join you on your next commercial real estate journey, your next race.  No matter the distance, we know how to stay the course and get you to the finish line.

27. Why Choose Black Diamond Realty? Honesty Integrity Teamwork

    May 31, 2023 4:23 pm Comments Off on Why Choose Black Diamond Realty? Honesty Integrity Teamwork

    Building a Winning Strategy: Black Diamond Realty’s “HIT” Approach to Commercial Real Estate Success

    As one of the newest Black Diamond Realty (BDR) members, I am proud to step up to the plate and be part of a team that embodies the core values of Honesty, Integrity, and Teamwork. In the game of commercial real estate, these values are the foundation of our success.  And in the game of baseball, where every “HIT” counts, Black Diamond Realty delivers exceptional results for our clients. Our commitment to “HIT” positions us as the finest choice for commercial real estate services in West Virginia and Southwestern Pennsylvania. Allow me to share a few personal experiences that illustrate how the power of “HIT” has boosted us to consistently achieve success for our clients.

    Stepping Up to the Plate with Honesty

    In my journey as an agent at Black Diamond Realty, I quickly learned that honesty, with my team, our clients, and myself, is the first base of trust. It is stepping up to the plate and facing the pitcher with unwavering confidence. Early in my career with BDR, I recall a situation where I was representing a buyer who had recently sold his businesses and wanted to 1031 exchange into a relatively passive multitenant retail investment property occupied by a strong national tenant that seemed promising on the surface. However, after conducting thorough research and analysis, I discovered potential pitfalls that the client was unaware of, including a broad restrictive covenant in the national tenant’s lease that could have severely impacted the ability to lease other vacancies in the future. Just like a batter recognizing a curveball, I quickly adjusted my approach. I was upfront with the client and explained my findings, even though it meant advising against the investment and the potential for a substantial commission. This transparent approach solidified the trust between us and set the groundwork for our next ‘at bat’ together.

    Covering the Bases with Integrity

    I represented a client in the sale of his mobile home park recently.  He relied on me to deliver on multiple tasks that were outside of my position as an agent but vital for the deal to progress.  Just like a pitcher covers first base on an outside ground ball, I committed to upholding the integrity of my role and our team with my reach of strategic planning, transparent communication, and dedication.  I maintained professional integrity and the integrity of the deal by building trust, fostering positive outcomes, and nurturing long-lasting relationships. At Black Diamond Realty, we embrace integrity as our winning strategy, ensuring that we pitch a perfect game by upholding our commitments and going the extra mile for our clients.

    Hitting a Grand Slam with Teamwork

    By collaborating with a diverse group of professionals, we unite unique talents and perspectives to establish a culture of success, a culture of hitting grand slams for our clients. In a recent project, our team resembled a well-coordinated infield, smoothly offloading a complex investment portfolio.  We covered every angle and anticipated every opportunity. By knowing each team member’s strengths, we were able to quickly divide roles and strategically adjust our playbook for this opportunity. Through consistent communication and scheduled scoreboard reviews, our team was able to track the progression of the deal, troubleshoot challenges, and hold each other accountable. Everyone proactively took charge of their role and played their position flawlessly, from prospecting to due diligence and closing. Together, we hit a grand slam for our client, surpassing their expectations and showing the power of teamwork in achieving real estate victories.

    In baseball, every hit has the potential to change the game; and although HIT carries a different meaning with Black Diamond Realty, it also reflects our team’s winning strategy.   As an associate at Black Diamond Realty, I have witnessed the power of “HIT” in action. It is evident that through our commitment to these core values, we consistently deliver exceptional results for our clients.  Step up to the plate with Black Diamond Realty and together as a team, we will swing for the fence.

28. New WVU Medicine Rehab Center Being Built at University Town Center

    May 24, 2023 4:30 pm Comments Off on New WVU Medicine Rehab Center Being Built at University Town Center

    WVU Medicine announced on Wednesday that construction has begun on a new Outpatient Rehabilitation Center in Granville.

    It will be located near the WVU Medicine University Town Centre clinic and will offer aquatic therapy, manual and exercise-based therapies, soft tissue and joint mobilization, post-surgical care, stroke care, functional capacity evaluations and lymphedema care, according to a press release.

    “We’re excited to be able to offer comprehensive rehabilitation consisting of three disciplines that all work together for the betterment of our clients,” said Jordan Feathers, who has been named the director of the new center.

    “Adding this state-of-the-art rehabilitation facility in Morgantown will fill a void in our continuum of care and further enhance the world-class care we provide,” said Darin Rogers, chief ambulatory officer for WVU Medicine.

    Plans for the new center were first announced last August, and the estimated completion date is in the second quarter of 2024.

    For more information on the WVU Medicine outpatient facility at University Town Centre, visit WVUMedicine.org/UTC.

     

    Original Article by Sam Kirk on wboy.com

    Original Article Here

29. Mountaintop Beverage Begins Production in Morgantown Industrial Park

    4:24 pm Comments Off on Mountaintop Beverage Begins Production in Morgantown Industrial Park

    Got milk? Mountaintop Beverage does.

    Got a 330,000 square-foot state-of-the-art automated aseptic bottling facility capable of processing staggering amounts of raw dairy into an array of products with up to a one-year shelf life?

    Mountaintop has that too.

    And it’s just getting started.

    On Friday, the first trucks carrying shelf-stable milk from the Mountaintop Beverage facility rolled away from the Morgantown Industrial Park to locations across the country.

    Not bad when you consider the site where the massive factory stands was literally a mountaintop in August of 2021.

    Since then, 1.7 million cubic yards of dirt was relocated, 50,000 tons of concrete was set in place and a dizzying tangle of stainless-steel piping — eight miles worth — was pieced together to form the plant’s circulatory system.

    “This is quite a place,” Mountaintop Beverage CEO Jeffrey Sokal said.

    And it’s got quite a mission.

    “The goal we have is to help rebuild the farming infrastructure and to rebuild dairy. Dairy production in the state of West Virginia is down roughly by half over the last 10 years,” Sokal said. “The state has very strong FFA and 4-H programs. So, for folks who want to farm, this factory is going to be here for decades.”

    That’s why recruiting Sokal and his team from western New York to West Virginia became a priority for Commissioner of Agriculture Kent Leonhardt and West Virginia Dairy Association Deputy Commissioner Joe Hatton.

    Sokal credits both men primarily for bringing Mountaintop Beverage to the Mountain State and notes hundreds of individuals, from the governor’s office to the county commission, have gone the extra mile to help make it happen.

    “We’ve felt welcome right from the start and made to feel like this project is important to the state and the community. So many people have gone out of their way to push this project,” he said.

    “And we want to be here. There are industrial parks with shovel-ready sites all over Ohio, Pennsylvania and New York, but we wanted to be here because of what this facility can do for this state, the community, the ag community and the dairy industry. We went to a lot of trouble to clear this site. So, anybody who questions why we came here, we came here to make a difference.”

    Today, about one-third of the 330,000 square-foot factory built as Phase I of the overall project is in production. It currently has a workforce of 150 people. Sokal anticipates the entire facility will be operational by year’s end, with more than 200 employees producing shelf-stable milk, coffee products, protein shakes and plant-based beverages.

    A big emphasis for the company will be school milk.

    The last year saw the closure of several large production facilities, creating shortages of school milk all over the country, and particularly in the southeast.

    Sokal explained the school milk production capacity coming online at Mountaintop Beverage is the largest in the United States by a factor of three.

    And that will represent just one of the facility’s three production lines.

    Currently, the plant is receiving its milk from Somerset County, Pa.

    Even in its limited startup capacity, the plant already has a demand nearly twice what West Virginia farms can provide.

    Further, there’s already a dairy processor in the state, United Dairy.

    “If I’m taking all the milk from local farms, then I’m taking milk away from their business. If I’m bidding the schools, which are typically supplied by United, then I’m taking business and jobs away from Wheeling, Charleston and Uniontown, where they operate. That doesn’t do the area any good. We’re just shuffling deck chairs,” he said.

    “What we want to do is rebuild. Initially, we’re getting our milk from Somerset Valley and over time as we rebuild the dairy infrastructure and help build up dairy farming in and around the state, then we can do that cooperatively with them.”

    And while Sokal and his team are figuratively building the state’s dairy industry, they’ll be physically building more production capacity.

    Sokal anticipates construction on an additional 170,000 square feet of production space, or Phase II, could begin as early as this summer and come online in 2025. After that, Phase III.

    “We designed a 750,000 square-foot factory. We just haven’t built it all yet,” he said.

    Playing a critical role in those expansion plans is the question of interstate access, meaning the construction of the new Harmony Grove interchange connecting I-79 to the industrial park.

    Glenn Adrian, co-owner of the Morgantown Industrial Park as part of Enrout Properties, said he’s hopeful the new interchange will be under construction in 2024 and open in 2025.

    Sokal admitted the pace at which this process is moving has been a frustration.

    “Bottom line is we wouldn’t have come if we didn’t get that commitment from the state. We’re here. We feel like we’ve held up our end. So it’s certainly taken a little longer than we would have hoped, but I think they’re making material progress now,” he said. “For us, you can’t really overstate how important that is.”

     

    Original Article by Ben Conley on The Dominion Post.com

    Original Article Here

30. Martinsburg, WV – BLACK DIAMOND REALTY OPENS EASTERN PANHANDLE OFFICE

    May 17, 2023 2:46 pm Comments Off on Martinsburg, WV – BLACK DIAMOND REALTY OPENS EASTERN PANHANDLE OFFICE

    When:  11:00 AM – 2:00 PM, Tuesday, June 6, 2023

    Where:  1209 N. Queen Street, Martinsburg, WV

    About:  Black Diamond Realty is pleased to announce the opening and ribbon cutting for its Eastern Panhandle office at 1209 N Queen Street, Martinsburg, WV.    Our team’s expertise serves all real estate sectors across West Virginia and Southwestern PA.  The Eastern Panhandle office is spearheaded by David Lorenze (Principal), Kim Licciardi (Sr. Associate), Mark J. Nesselroad (Broker), and Andrea Icenhower (Graphic Designer/Office Manager).  The firm is actively recruiting new commercial associates to join the Eastern Panhandle expansion.

    Since purchasing the property in September 2022, this office has been transformed for Black Diamond’s use, while the adjacent building was successfully leased by our brokerage and is under renovation for a martial arts studio. You are invited to join the ribbon cutting, visit our office, enjoy light refreshments, and talk with some of our real estate experts.

    Andrea Icenhower states, “We are excited to open our doors, welcome guests, and contribute to the community and economic growth of the Eastern Panhandle.”

    For more information, call 304-901-7788 or visit www.blackdiamondrealty.net.

31. Why Choose Black Diamond Realty? Our Experience

    May 10, 2023 12:04 am Comments Off on Why Choose Black Diamond Realty? Our Experience

    Black Diamond Realty is like a seasoned golfer who consistently hits the fairway and sinks putts.  And, like in the game of golf, our team’s unique approach and execution ensures successful commercial real estate transactions.  This experience ‘swinging’ has delivered nearly 600 ‘holes in one’ as we approach a decade of service to the industry. 

    Do you think a course record could be secured using only a nine-iron and an old ball while wearing a tuxedo?  Of course it couldn’t!  Even if the tuxedo got a few good laughs, the golf pro probably would not invite you back to play anytime soon.  Seasoned golfers typically use 14 different clubs, shoes with spikes, tees, a golf glove, high quality balls and proper attire that facilitates effective movement in given weather conditions.  This level of detail and preparedness is like BDR’s approach to real estate deals.  Our equipment includes seven dedicated associates, three fulltime graphic designers and a partnership with Glenmark Holding that combines decades of experience, leadership and service. 

     A first-time a golfer meets unexpected challenges navigating unknown courses, like a pesky oak tree with a low hanging branch on hole 11 or a water hazard at the edge of a sloping green on hole 17.  An experienced golfer calls on previous games having navigated these hazards and can predict and adjust their game accordingly.  The BDR professionals draw on their past experiences just as an experienced golfer does, while recognizing that every course, every project and every client is unique.  Tiger Woods is one of golf’s most elite players because he practiced golf consistently from a very young age.  He didn’t dedicate his mornings to tennis and afternoons to golf.  He was committed and all in to his one sport.  The same holds true for Black Diamond Realty.  We are 100% focused on commercial real estate transactions.   

    The best golfers in the world are reflective and always finding ways to improve their game, saying things like, “I’m working on my grip, my posture, my tempo.”  Similarly, you will find the best commercial real estate associates saying, “I’m networking and building relationships, writing my notes, making calls and setting goals”.  In both cases, working on the fundamentals is a key to successful outcomes.  BDR is your dedicated team for commercial real estate that brings the proper tools, experience, and drive to achieve your next ‘hole in one.’   

    Over a decade ago I started working in the commercial real estate profession.  Starting something new was exciting and intimidating all at the same time.  The same sentiment held true when I adopted golf as a new hobby two years ago.  While I wanted to be an expert on my first day playing a round, it became painfully evident that success on the course would take practice to perfect my skills.  

    Knowledge and experience are very important for both business and golf. In business, it’s important to have a deep understanding of your industry and customers, as well as experience in managing expectations and making strategic decisions. In golf, knowledge of the game and experience with training and practice can help develop skills and improve performance.  Another area of focus is relationships. 

    Several years ago I worked with a church that was new to town and looking to establish a presence.  We identified a relatively small office space for their administrative needs and they proceeded to lease temporary space on Sunday mornings for their services.  Fast forward three years later and we collaborated again to secure a 15,325-sf facility with an associated 10-year lease.  Fostering positive relationships support success for everyone involved. 

    During my 12 years of experience as a commercial real estate professional, I have developed a deep understanding of the industry, market trends, and customer needs. This has allowed me to build strong relationships with clients and provide them with personalized and effective solutions for their commercial real estate needs. Additionally, my experience has helped me develop exceptional negotiation and communication skills, which are vital in closing deals and ensuring client satisfaction.  And while my golf game is still developing, I am confident that my developed skills and strategies in commercial real estate can help you score a ‘hole in one.’ 

32. Gov. Justice Announces UNDBIO Secures Lease in Monongalia County

    April 12, 2023 9:20 pm Comments Off on Gov. Justice Announces UNDBIO Secures Lease in Monongalia County

    A lower-cost insulin manufacturer has taken the next step toward establishing a location in West Virginia.

    UNDBIO, a South Korean company, has secured a lease with West Virginia University to build an insulin manufacturing facility in Morgantown.

    The company anticipates creating 200 jobs within the first three years while investing $100,000,000 in phase one of the project.

    Gov. Jim Justice celebrated the lease agreement and praised the development during a briefing at the state Capitol.

    “The Morgantown area has a strong manufacturing history and I am proud that UNDBIO will join our growing list of successful, world-leading manufacturing companies who’ve chosen the Mountain State,” Justice said.

    The company has plans to build the manufacturing facility in the West Virginia University Research Park. Company leaders have said the project is valued at about $100 million and is expected to employ as many as 1,200 when up and running.

    The company plans to partner with West Virginia University on other research projects as well.

    “It’s really a firming up of the commitment. West Virginia’s made some financial commitments, and UNDBIO has made substantial commitments to the Morgantown area,” state Development Secretary Mitch Carmichael said on MetroNews’ “Talkline.”

    He added, “It’s really a revitalization of the pharmaceutical industry in the Morgantown area, and it’s great for West Virginia — and it’s great for Morgantown in particular.”

    UNDBIO has been developing a proprietary manufacturing method aimed at lowering the cost of insulin.

    In phase one, the facility will work to secure Food and Drug Administration approval for the product. After securing FDA approval, UNDBIO plans to expand, resulting in additional jobs.

    Carmichael acknowledged the FDA approval could still take time, but he drew confidence from the insulin’s acceptance and production in other countries.

    “Ground will be broken on the building this fall, and FDA approval will not be forthcoming for probably a year and a half or two — and you can’t control the speed at which the FDA approves.

    But, Carmichael added, “the nice thing that gives everyone confidence about it is that it’s already being utilized and manufactured in other countries throughout the world. So the fact that it needs American FDA approval is significant and we’ll undergo that process, but the project is moving forward.”

    The Centers for Disease Control & Prevention reports more than 34 million people in the country have diabetes and one in 10 West Virginians are affected by the disease. The data also shows nearly 20-percent of people with diabetes skipped, delayed or rationed insulin due to cost.

    “The mission of UNDBIO is to develop and produce state-of-the-art insulin in West Virginia,” UNDBIO Chairman Caleb Jun said.

    “Our products will save human lives and improve the quality of life for those afflicted with diabetes. We are excited to see West Virginia become a mecca for manufacturing highly advanced insulin to treat diabetic patients around the world.”

     

    Original Article by Brad McElhinny on WVMetroNews.com Original Article Here

33. Why Choose Black Diamond Realty? We are The Experts

    April 4, 2023 12:52 pm Comments Off on Why Choose Black Diamond Realty? We are The Experts

    Could you imagine going to the top of a 10,000-foot mountain in shorts and a t-shirt to attempt your very first ski run?  That experience would be chilling and potentially dangerous to your health without the proper equipment and experience.  Navigating a challenging commercial real estate deal can have similar consequences to your long-term financial health.  Just like a mogul on the slopes, real estate deal challenges require swift problem solving and action to successfully navigate the course. 

    Full-time commercial real estate agents have market knowledge, deal mechanic experience and essential specialty contacts to avoid and navigate the moguls of the commercial real estate world.  Attempting to “save a few bucks” on real estate fees may be tempting for some, but often results in a more costly and frustrating end.  Traversing the path without experience and proper equipment is risky, so make sure one of your success strategies is teaming up with the right commercial real estate firm to help you navigate a successful deal.

    Two recent examples of deals, filled with moguls and challenges, are highlighted below.  Spoiler alert: the deal that secured a west coast, 1031 buyer for a second-generation industrial building navigated their moguls with a commercial real estate team of experts.

    Example I

    Black Diamond Realty received a call from an owner who bought a multifamily property roughly 18 months prior to the conversation.  Black Diamond had no involvement in that decision/deal.  The investor leveraged most of their personal home’s equity to purchase the multifamily property.  The assets were located in a strong submarket but the history and ongoing operations were challenging.  Since purchasing, the property owner explained they had battled rent delinquency, criminal activity and property damage.  Performance was weak.  Deferred maintenance was abundant.  The tenant situation was challenging.   

    BDR was asked if they could sell the asset for around the same value that the current owner paid.  As part of its due diligence practices, BDR prefers to review three years of profit and loss statements and a current rent roll.  Utilizing the income approach to valuing assets, the BDR team can relatively quickly determine a value range they feel is achievable based on current market and property-specific dynamics.  After receiving financials, BDR respectfully explained they overpaid and that the current market could not bear their valuation.  Black Diamond Realty declined marketing this property.

    Example II

    A long-time client charged Black Diamond Realty with finding a tenant for their recently vacated industrial building.  BDR designed a comprehensive professional marketing flyer then maximized exposure via all commercial real estate digital platforms, including its company newsletter (current audience ~6,200).  The BDR team proactively reached out to companies who previously expressed interest in similar-size assets and brainstormed end users then pursued them.  After entertaining about a dozen tours, the team found the right fit – a company with over 100 locations willing to sign a 5-year lease.   

    BDR team members led conversations and negotiations on tenant build-out, including amortizing cost over the initial term of the lease.  The seller had a long-standing CRE attorney relationship in this case, but BDR typically supports that step as well.  BDR reviewed the draft lease and corresponding tenant comments with their client and after several months, secured a 5-year lease with a well-respected company.   

    Due to other projects and the desire to redeploy capital, the client mobilized BDR immediately to sell the 5-year lease to an investor.  Following the same marketing process, the asset was presented as an investment opportunity.  BDR secured a 1031, west coast buyer and worked with their broker to navigate questions and concerns throughout the due diligence process.  In the end, all parties achieved their goals.

    Don’t navigate the slopes alone.  Trust the experts.  Reach out to Black Diamond today to equip yourself with professional experience, tools, and service for your next deal.  The BDR team will provide the advice, contacts, and market knowledge to successfully navigate your next black diamond (ad)venture.  Cheers to continued economic growth in a changing investment landscape!

34. Exceptional Development Opportunity within the Eastern Panhandle of WV

    12:52 pm Comments Off on Exceptional Development Opportunity within the Eastern Panhandle of WV

    Black Diamond Realty is pleased to present this exceptional development opportunity within the Eastern Panhandle of West Virginia. This property offers 54 (+/-) acres of undeveloped flat land and is conveniently located to both I-81 and U.S. Highway 11. The subject property is highly visible from I-81 and is situated less than 0.3 mile away from Exit 5. The undeveloped land is in a great location. It is ideal for commercial users looking for a development opportunity while being surrounded by a plethora of residential communities. Within this article you will learn more information about the Eastern Panhandle, specifically Berkeley County, the top employers in the area and demographics for the subject property.  Please also invest a few minutes to review Black Diamond Realty’s detailed marketing flyer and video.

    Since moving into the Eastern Panhandle, our graphic designer / office manager for the Martinsburg office, Andrea Icenhower, has attended several events for both the Berkeley Co. and Jefferson Co. She has had the opportunity to tour spaces like the Macy’s fulfillment center, Quad Graphics Facility, the Clorox Campus, the Rockwool Facility and so much more. Andrea was also able to attend the Annual Eastern Panhandle Economic Outlook Luncheon led by John Deskins and his team to learn more about the economic growth in the Eastern Panhandle. The research in this article is supported by those educational meetings and tours.

    West Virginia’s Eastern Panhandle (EPH) has been the state’s strongest economic region for well over a decade, experiencing sustained growth in population, employment, income and a host of other major economic indicators. The three-county area, Berkeley, Jefferson and Morgan County, has surpassed pre-pandemic levels for total employment and has seen its adult workforce increase to more than 100,000 employees. The Eastern Panhandle’s manufacturing sector is expected to record additional job growth over the next five years, expanding at a rate of nearly 0.7 percent per year. Eastern Panhandle’s proximity to and economic ties with the DC Beltway economy is expected to drive opportunities for a range of high-tech and front-office jobs in defense and non-defense federal contracting as well as the private sector. (Source: ©2022 by WVU Research Corporation / business.wvu.edu/bber)

    Located at the gateway to the Shenandoah Valley in the heart of the Eastern Panhandle, Berkeley County is known for its unique history, beautiful scenery, robust industry, and more. Major population centers and business markets within a five-hundred-mile radius of Berkeley County include Washington, D.C., Baltimore, Maryland, Philadelphia, Pennsylvania, Richmond, Virginia, and New York City, New York. All these major markets are readily accessible from this County via Interstate 81. Berkeley County’s geographic location makes it unique for business and leisure while enriching quality of life with its “small town” character and sense of community. Berkeley County has a total population of 126,534 and a median household income of $65,826. Total number of businesses is 2,635.

    Berkeley County is regarded as the Eastern Panhandle’s economic center. In addition, Berkeley County has established itself as the leading county in the state in terms of absolute job growth. Over the past decade, employment has increased by 8,300. Most of the county’s job growth can be linked to major new openings such as the Macy’s fulfillment center and Procter & Gamble. In the last year, the employment rate in West Virginia has increased by 3.8%, giving businesses 26,000 new employees. With an unemployment rate of 2.7%, Berkeley County’s workforce continues to stay well above the national and state averages, providing businesses an excellent opportunity to acquire and retain qualified talent. Even more skilled workers will be able to serve businesses across the county as more people locate to Berkeley County.

    The top 10 Employers in Berkeley County

    The top 10 Employers in Berkeley County include; Berkeley County Board of Education, Macy’s, United States Department of Veterans Affairs, Quad Graphics, Procter & Gamble, Walmart, Or-gill, Berkeley County Commission, FedEx, Aker Solutions. Procter & Gamble’s manufacturing plant added nearly 1,400 jobs and fostered the co-location of several hundred new jobs in packaging, logistics and other supporting businesses at the Tabler Station campus. More recently, the region received an additional boost in payrolls following the mid-2021 and fall-2022 openings of Rockwool and Clorox manufacturing facilities in Jefferson and Berkeley counties, respectively. Procter & Gamble’s production facility has represented a major transformative shift in the Eastern Panhandle’s industrial base. The $500 million facility along the 1-81 corridor in Berkeley County produces a range of consumer cleaning and personal products, including Swiffer, Tide, and various soaps and deodorants. Overall, the facility now employs more than 1,600 workers and has spawned the addition of several hundred jobs at packaging and logistics operations in the area.

    The infographics below contain data provided by Esri, Esri and Bureau of Labor Statistics Esri and Data Axle. The vintage of the data is 2022, 2027. Spending facts are average annual dollar per household. The statistics provided, which includes a 3-5-10 mile radius, are based upon our 54 (+/-) acres at the Inwood exit.

    

    The Eastern Panhandle has consistently ranked as West Virginia’s fastest-growing region for the past two decades. Between 2001 and 2021, Berkeley, Jefferson and Morgan counties combined to add nearly 64,000 residents. It is expected for employment to grow at an average annual rate of between 0.7 to 0.8 percent per year in the EPH through 2027.

    The Eastern Panhandle has been and projects to remain an economic bright spot for West Virginia.  West Virginia’s Eastern Panhandle is a premier location for a new business or a development project. Our Inwood offering has public infrastructure (new roundabouts), all public utilities, no zoning restrictions, easy accessibility, and is close to many amenities.

    Don’t miss this prime piece of commercial real estate!
    Call our Eastern Panhandle office today at 304.901.7788.

    View our Marketing flyer for the Property 

    View our Marketing Video for the Property

35. Three New Tenants to Join WVU Innovation Corporation

    March 24, 2023 6:47 pm Comments Off on Three New Tenants to Join WVU Innovation Corporation

    The West Virginia University Innovation Corporation (WVUIC) announced Monday that three new science and technology tenants — California-based GATC Health Corp and Yunigen, LLC, and Morgantown-based ExesaLibero Pharma — will be leasing space in the Chestnut Ridge Road facility.

    WVU and the West Virginia University Health System, commonly branded as WVU Medicine, officially took ownership of the 1.1 million square foot property in March 2022 and have been handling daily operations of the facility since. It previously served as the Mylan pharmaceutical manufacturing facility. The Innovation Corporation announced Hope Gas as its first tenant in August.

    “We are very excited to have three innovative companies joining us at the Innovation Corporation as we continue to build a leading-edge science and technology hub that benefits the broader community,” Stacey K. Armstrong, president of the WVU Innovation Corporation, said. “These new partners share our vision of establishing collaborative technology innovative and will be excellent research and development partners with the Health System, University, and State of West Virginia.”

    ExesaLibero Pharma, which was formed to complete preclinical toxicology and efficacy studies on a small molecule drug designed to control excess bone erosion associated with rheumatoid arthritis, will lease 1,034 square feet of laboratory space for drug development.

    “The laboratory facilities at the WVUIC are ideal for the continuation of the work we started on the WVU Health Sciences campus,” John Barnett, Ph.D., president and chief scientific officer of ExesaLibero and professor and chair of the WVU School of Medicine Department of Microbiology, Immunology, and Cell Biology, said. “We look forward to moving into these facilities.”

    GATC Health, a technology company “revolutionizing drug discovery and disease prediction using artificial intelligence (AI),” will lease more than 7,000 square feet of lab and office space to establish an AI hub to develop safer and more effective medicines with greater efficiency.

    Tyrone Lam, GATC chief operating officer, said Appalachia is the best place to continue development of two of the drugs GATC is working on — one for treating PTSD and the other to treat fentanyl addiction — as they have the potential to have the greatest impact in the region. The space within the WVUIC, he said, “is almost turnkey and will help us bring these important treatments to people sooner.”

    But, the one thing that stood out to the GATC team, was the “can-do spirit” of the WVUIC, WVU Medicine, and WVU leadership.

    “There is no ‘no’ or ‘not now,’ it’s ‘how do we get this done?” he said. “There’s a genuine curiosity and desire to establish a true center of innovation to develop better medicines. We’ve been welcomed with open arms.”

    Yunigen, a pharma company with a vision of making a difference in drug discovery, development, and commercialization, will lease 25,000 square feet of space with plans for expansion to manufacture rapid dissolvable Hydroxyurea tablets in 100 mg and 500 mg for pediatric sickle cell anemia patients in Africa. Its next phase is to manufacture high quality and affordable branded generic drugs in the U.S.

    Charles E. Otieno, M.D., managing partner and chief medical officer of Yunigen, said the company’s two-year search for a manufacturing location took them to several states, including Connecticut, New York, Minnesota, Ohio, Missouri, Pennsylvania, and North and South Carolina. The WVUIC property, unlike the others they toured, had “all the bells and whistles.”

    “This is what we were looking for because WVU preserved the intended use of the facility,” he said. “This has the potential for Morgantown to make its mark on emerging markets and will change the course of this disease. It will be a symbol of pride.”

    For more information about the WVU Innovation Corporation, visit Innovation.WVU.edu.

    Original Article By Matt Harvey on wvnews.com

    View Original Article Here

36. November Newsletter: Positive Economic Growth for the Future of the Mountain State

    November 8, 2022 2:40 pm Comments Off on November Newsletter: Positive Economic Growth for the Future of the Mountain State

    View our November Newsletter: Positive Economic Growth for the Future of the Mountain State

    Click Here!

37. Positive Economic Growth for the Future of the Mountain State

    November 7, 2022 8:03 pm Comments Off on Positive Economic Growth for the Future of the Mountain State

    In the past 18-24 months, several positive news stories touting new and expanding business facilities and job creation have been announced within Black Diamond Realty’s West Virginia footprint.  This article recaps some of these notable announcements that will build positive economic growth for the future of the Mountain State.

    Most recently, Clorox revealed the opening of cat litter manufacturing plant in the Eastern Panhandle of WV. The 97,000 square foot plant is open in Martinsburg WV and will produce the company’s Fresh Step and Scoop Away products. This plant will begin with more than 100 workers, including over 80 from West Virginia. Clorox plans to be in full production by early 2023. The company has also built a 450,000-square-foot warehouse down the road from the plant.

    Read more here: https://www.blackdiamondrealty.net/local-news/clorox-opens-cat-litter-plant-in-martinsburg/

    In August, it was announced that the West Virginia AeroTech Park will house North Central West Virginia Airport’s new terminal building, an expanded taxiway, an enlarged parking lot and will provide ample build-ready land for the continued growth and development of the region’s aerospace industry. The total economic impact of construction expenditures for the airport’s terminal expansion project is estimated to be $88 million, of which more than $55 million will be spent directly, and another $33 will be generated in secondary industries, according to analysis from the WVU Bureau of Business and Economic Research. The terminal expansion project is estimated to employ about 356 construction workers directly, and another 199 in supplier industries, for a total employment impact of 555 jobs.

    Read more here: https://www.blackdiamondrealty.net/local-news/officials-celebrate-completion-of-site-development-for-west-virginia-aerotech-park/

    With July came the announcement that West Virginia would be launching the state’s second small satellite, the WVU Small Satellite Center, in North Central WV. The SmallSat Center will work with businesses and other organizations to develop West Virginia’s second small satellite and to help those partners offer services and products to clients who want to fly experiments out to low orbit. Candy Cordwell (assistant director) said the SmallSat Center will create 15 new jobs immediately: five at WVU and 10 through the consultant company that will initially be contracted to offer small satellite simulation, design, manufacturing, deployment and management services to the team. Within three to five years, as the center becomes financially self-sustaining, she predicted that the high-wage staff positions will increase to more than 30 jobs in administration, business development, education and advanced aerospace manufacturing. This center not only boosts the aerospace industry statewide but also provides the hope to increase students K-12 interest and education in engineering/growth within the STEM field.

    Read more here: https://www.blackdiamondrealty.net/local-news/west-virginia-aerospace-industry-set-to-take-off-with-launch-of-wvu-small-satellite-center/

    Groundbreaking occurred in June for a state-of-the-art hub for managing and coordinating complex medical supply logistics.  Owens & Minor, a Fortune 500 company that provides medical supplies, is going to expand on a deal they previously had with WVU Medicine and create over 125 jobs at a healthcare products preparedness and supply center in Morgantown.
    Read More here: https://www.businesswire.com/news/home/20220627005704/en/Owens-Minor-Breaks-Ground-on-Center-of-Excellence-for-Medical-Supply-Logistics-in-West-Virginia

    In June 2022, South Korean drug manufacturer UNDBIO signed a Memorandum of Understanding pledging to manufacture insulin in West Virginia. The letter indicates there are plans to locate the facility at the West Virginia University Research Park in Morgantown.

    The news of this agreement between UNDBIO and the State of West Virginia is a positive step forward in UNDBIO’s quest to manufacture insulin right here in West Virginia. “While there is still more work to do to finalize this new facility, I stand ready to help to make sure this becomes a reality. I congratulate UNDBIO on this advancement and look forward to supporting them in their investment that could lead to creating more than 1,000 jobs in West Virginia.” – U.S. Senators Joe Manchin

    Read more here: https://www.blackdiamondrealty.net/local-news/korean-drug-maker-pledges-to-build-plant/

    In March, American Medicines Company announced that they are going to build a pharmaceutical manufacturing facility in West Virginia. This will bring 500 to 600 high-tech jobs to West Virginia. After listening to an interview with Crystal Mersh she mentioned that they do plan for this company is to not only develop medications, but to also manufacture and distribute.

    Read more here: https://wchstv.com/news/local/company-to-bring-500-to-600-high-tech-jobs-to-wva-official-says?fbclid=IwAR3gcrafpMiiFe0B5IzAz7GTEpk4IAjBibl87A6p4NZXxc8K1CC-c9C3WB8

    Video interview with Crystal Mersh: https://twitter.com/WVMetroNews/status/1509557921050501122?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509557921050501122%7Ctwgr%5E9d51eb96789f23d2ba243749c744cacb2ce5c3c1%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwvmetronews.com%2F2022%2F03%2F31%2Fpharmaceutical-company-envisioned-to-develop-manufacture-distribute-from-west-virginia%2F

    Also in March, it was revealed that Omnis Building Technologies will build a $40 million, 150,000-square-foot facility in Bluefield to manufacture housing materials that will revolutionize the future of residential construction, creating 150-300 jobs in the process.  Additionally, PepsiCo Beverages and Frito-Lay are investing a combined $32.5 million to build a pair of new, state-of-the-art warehouse and distribution facilities in West Virginia by the end of 2022, bringing dozens of additional new jobs to the state. (Jordan Damron wrote: https://governor.wv.gov/News/press-releases/2022/Pages/Governor-Justice-West-Virginia-reaches-2nd-highest-export-growth-rate-in-nation-in-2021.aspx)

    Read more here: https://www.blackdiamondrealty.net/local-news/pepsico-opening-new-facilities-in-west-virginia/

    In January , GreenPower Motor Company announced an agreement with the state to manufacture zero-emission, all-electric school buses in South Charleston, bringing hundreds of new jobs and millions of dollars in economic impact to West Virginia. The operation is expected to bring 200 new jobs to the state within the next year and the potential to create as many as 900 jobs once full production is reached in 24 months, the news release said. https://www.blackdiamondrealty.net/local-news/automobile-manufacturing-company-to-open-facility-in-south-charleston/

    To kickoff 2022, Governor Jim Justice revealed that Nucor Corporation selected Mason County as the location for a state-of-the-art sheet steel mill. This record investment will exceed $2.7 billion, making it the largest in West Virginia history, as well as the largest single investment Nucor has ever made.

    Read more here: https://governor.wv.gov/News/press-releases/2022/Pages/Gov.-Justice-announces-Nucor-to-make-largest-investment-in-West-Virginia-history.aspx

    Toyota Motor Manufacturing West Virginia (TMMWV) will invest $210 million to upgrade existing engine production and add 100 new jobs to increase assembly capacity of its four-cylinder engine line. Once complete, TMMWV’s total investment will be more than $1.8 billion and total employment will exceed 2,000.
    “This is such exciting news for West Virginia’s business community as well as our families that businesses are choosing to grow their organizations here. Toyota is a wonderful example of how a global company can be successful right here in West Virginia.” – U.S. Sen. Joe Manchin, D-West Virginia, praised Toyota for their long-term commitment to the Mountain State.

    Read more here: https://www.blackdiamondrealty.net/local-news/toyota-west-virginia-announces-210-million-new-investment-and-100-new-jobs/

    Virgin Hyperloop announced Thursday, Oct. 8, 2020 that it will locate a certification facility on nearly 800 acres of land spanning Tucker and Grant counties where it will leverage intellectual capital and resources from West Virginia University, Marshall University and from across the state. Virgin Hyperloop plans to directly hire 150-200 engineers and technicians for the facility with plans to source talent locally. In addition, the construction and manufacturing of the project will create 7,300 jobs throughout the region over the next five years and the longer-term operation phase will create 6,000.

    Read more here: https://www.blackdiamondrealty.net/local-news/virgin-hyperloop-to-build-hyperloop-certification-center-in-west-virginia/

    As of November 2020, Bridgeport, WV received news that it would be the benefactor of a portion of 300 new aircraft technician jobs between MHIRJ Aviation Inc.’s (MHIRJ) West Virginia and Arizona facilities.  https://www.blackdiamondrealty.net/local-news/mhirj-aviation-inc-announces-hiring-plan-for-300-available-positions-at-bridgeport-location/

    For continuous updates on community news, follow us on social media: Facebook  and sign up for our newsletter list!

     

38. Officials Celebrate Completion of Site Development for West Virginia AeroTech Park

    September 1, 2022 7:11 pm Comments Off on Officials Celebrate Completion of Site Development for West Virginia AeroTech Park

    Stakeholders of North Central West Virginia Airport recently celebrated the culmination of nearly 20 years of hoping and planning.

    Gov. Jim Justice — along with a host of local leaders and officials — participated in a ribbon-cutting ceremony marking the completion of site development for the West Virginia AeroTech Park.

    “Without any question, always, the airports are the heart; they’re the lifeblood of the engine that makes everything go,” Justice said. “You think of what you’ve got going on here. It is off the chart; it is un-flat-believable what’s going on.”

    The AeroTech Park will house the airport’s new terminal building, an expanded taxiway, an enlarged parking lot and will provide ample build-ready land for the continued growth and development of the region’s aerospace industry.

    The park’s future site is now flat and level, but just a year ago, the stretch of land adjacent to W.Va. 279 was buried under approximately 3 million square feet of earth that officials called “the mountain.”

    Ron Watson, former Harrison County commissioner and former president of the Benedum Airport Authority, which governs the airport, said officials had long hoped to “move the mountain” to clear space for a new terminal building.

    “The mountain has always been something that we wanted to get rid of, but we never had the means, and we really didn’t have a good plan,” he said.

    “Before we could do the terminal, we had to get rid of the mountain. That was a long time in the making, and I am delighted to see the progress.”

    Airport Director Rick Rock, looking out over the crowd assembled for the ribbon cutting ceremony, thanked the public for always supporting the airport.

    “One of the finest lessons I learned when I started this job was to get the community to take ownership of it,” he said. “Right here is an example of a community taking ownership of it. I appreciate it — without you none of this is possible.”

    The site development project, handled by Wolfe’s Excavating, was seeded by a state-backed investment announced by Justice in August 2019 — a $10 million grant from the West Virginia Infrastructure and Jobs Development Council and a $10 million loan from the state Economic Development Authority.

    On July 8, the Federal Aviation Administration announced the airport would receive a $15 million grant, the final element needed to greenlight the terminal’s construction.

    Bridgeport Mayor Andy Lang, who sits on the Airport’s Special Projects Committee, said numerous individuals and agencies deserve credit for helping make the project a reality.

    “It was a matter of just getting everybody to the table one-by-one — whether that was the (Federal Aviation Administration), the (West Virginia Department of Environmental Protection), the state, the governor’s office, the Development office, just on and on — to realize what this project could do for North Central West Virginia,” he said.

    Construction of the terminal building is expected to begin next year, Lang said.

    “We should be started on the terminal, digging footers, in the spring,” he said.

    The expansion project is estimated to lead to direct contributions of more than $587 million to the state’s economy each year, according to economists at West Virginia University.

    The total economic impact of construction expenditures for the airport’s terminal expansion project is estimated to be $88 million, of which more than $55 million will be spent directly, and another $33 will be generated in secondary industries, according to analysis from the WVU Bureau of Business and Economic Research.

    The terminal expansion project is estimated to employ about 356 construction workers directly, and another 199 in supplier industries, for a total employment impact of 555 jobs.

    Growth at the airport is estimated to add an additional $16.7 million in expenditures in the local economy over 10 years. Counting secondary impacts, it’s estimated this spending will result in more than $28.5 million in total economic impact over the same 10-year period.

    Expansion on the airport’s campus is expected to allow for the addition of seven to 11 small-to-medium-sized businesses that will either expand or locate in the area, for a total of more than 1,300 new jobs.

    The airport is one of the main reasons North Central West Virginia is one of the state’s two primary centers for economic activity, according to WVU’s John Deskins.

    “This airport and this aerospace sector in Harrison County is one of the key, foundational pieces that is enabling North Central to be a standout region,” he said. “I think that’s pretty important.”

     

    Original Article by Charles Young on August 22, 2022 on wvnews.com

    View Original Article Here

39. US Natural Gas Prices Spike To 14-Year High. Here’s Why:

    August 22, 2022 6:50 pm Comments Off on US Natural Gas Prices Spike To 14-Year High. Here’s Why:

    New York(CNN Business)US natural gas prices have skyrocketed to levels unseen since 2008, a spike that threatens to offset the benefits of falling prices at the gas pump.

    Natural gas futures surged 7% on Tuesday to close at $9.33 per million British thermal unit (BTU), the highest closing price since August 1, 2008.

    Although natural gas futures cooled off a touch on Wednesday, they remain up about 70% just since the end of June. And natural gas is up a staggering 525% since closing at $1.48 in June 2020 when Covid-19 had shut much of the US economy down.

    The summer spike is being driven in part by high demand as scorching temperatures through much of the country force Americans to crank up the air conditioning. That in turn has chipped away at relatively low inventory levels.

    “We’ve had this perma-heat wave cooking the United States,” said Robert Yawger, vice president of energy futures at Mizuho Securities.

    As temperatures drop this fall and winter, the natural gas spike signals sticker shock for families. Not only is natural gas a leading fuel source for the electric grid, it’s the most popular way to heat homes in America.

    “Depending on the weather, it could be a challenging winter,” said Rob Thummel, senior portfolio manager at Tortoise Capital Advisors. “But not as challenging as in Europe. They are at risk of running out of natural gas. We aren’t.”

     

    Europe’s natural gas prices are seven times higher

    Europe’s natural gas crisis is being driven by its reliance on energy from Russia, which has slashed natural gas flows to Europe in response to Western sanctions.

    The European Union has been forced to lay plans to ration natural gas, a drastic step that will hurt families and businesses. Natural gas prices have skyrocketed so high in Europe that it threatens to send the continent’s economy into recession.

    For context, Europe’s natural gas prices are trading at levels equivalent to about $70 per million BTUs, according to Andy Lipow, president of Lipow Oil Associates. That is roughly seven times higher than prices in the United States.

    But that is little consolation to Americans grappling with high prices at the grocery store, clothing stores and at restaurants.

    Even as natural gas prices surge, oil prices have tumbled, helping to drive gasoline prices sharply lower. The national average for regular gasoline has dropped 64 days in a row, according to AAA.

     

    Exports pick-up to Europe

    Analysts say Europe’s natural gas crisis is contributing to the higher natural gas prices in America, although it’s not the main driver.

    “Higher global prices are trickling down to the US. Natural gas has become a global commodity with the emergency of LNG,” said Thummel.

    The United States has stepped up its exports of liquefied natural gas (LNG) to Europe in an effort to mitigate the impact of the loss of Russian gas.

    “Every spare molecule we can find, we are shipping to the eurozone,” said Yawger.

    US natural gas production is lagging behind

    But the bigger issue for US natural gas is the fact that inventory levels are below historical averages, leaving the market with less of a buffer and driving up prices.

    “We entered this year at beaten-down levels and we never caught up,” Yawger said.

    Supply has failed to keep up with strong demand for gas. Thummel pointed to how US oil and gas producers are under pressure from Wall Street to spend less on expensive drilling projects and more on dividends and buybacks to shareholders.

    “We need more US natural gas production. The production levels are too low,” Thummel said.

    The good news is that higher prices should, eventually, incentivize more production. And investors are not betting today’s high prices will continue. The futures market indicates natural gas prices should be almost 50% lower at this point next year.

    Then again, very few people thought a year ago natural gas prices would be at 2008 levels. And yet here we are.

    Original Article by Matt Egan, CNN Business on August 17, 2022. 

    Read Original Article Here

40. August Newsletter: Fear. Uncertainty. Challenging Economic Times.

    August 3, 2022 12:25 pm Comments Off on August Newsletter: Fear. Uncertainty. Challenging Economic Times.

    View our August Newsletter: Inflation Fears…Nobody is Immune

    Click Here!

41. West Virginia Aerospace Industry Set to Take Off With Launch of WVU Small Satellite Center

    July 21, 2022 8:10 pm Comments Off on West Virginia Aerospace Industry Set to Take Off With Launch of WVU Small Satellite Center

    West Virginia is now on its way toward launching the state’s second small satellite. A team from West Virginia University and the NASA West Virginia Space Grant Consortium is poised to turn that achievement into a massive boost for the aerospace industry statewide by taking the first steps toward opening the West Virginia Small Satellite Center of Excellence.

    The SmallSat Center will work with businesses and other organizations to develop West Virginia’s second small satellite and to help those partners offer services and products to clients who want to fly experiments out to low orbit. As Melanie Page, director of the Space Grant Consortium, put it, “It’s like a ‘Field of Dreams’ for small satellites.”

    With the announcement of $911,708 in U.S. Economic Development Administration funding, that mission is a go.

    West Virginia’s first small satellite, STF-1, launched from New Zealand in 2018 and vastly exceeded the usual three-month lifespan for a SmallSat – it’s still up there, transmitting from outer space, more than 1,300 days later. When it came time to capitalize on STF-1’s success, Candy Cordwell, assistant director of the Space Grant Consortium, and Majid Jaridi, former director, envisioned the next SmallSat kickstarting and sustaining an entire industry for aerospace research, products and services in West Virginia.

    The EDA’s Assistance to Coal Communities grant goes to projects that advance economic diversification, aerospace manufacturing and STEM training opportunities in areas severely affected by the declining use of coal. In the case of WVU’s initiative, Page said the money will not only support the Innovative Orbital Test Array mission, or IOTA, in which a second SmallSat will be produced and launched as STF-1’s proof of concept, but it will also enable the opening of the SmallSat Center of Excellence.

    The Center will be a hub for small satellite research, development, testing, production and commercialization, and “truly an innovation incubator that meets the needs of an industry that meets the needs of customers,” according to David Martinelli, professor of civil and environmental engineering at the Benjamin M. Statler College of Engineering and Mineral Resources, who has joined forces with Cordwell and Page to launch the SmallSat Center.

    “We’re going to be building satellites in West Virginia,” he said. “As soon as STF-1 was up there for 300 days, people started saying seriously that this is something we should be very proud of and try to capitalize on, and Candy Cordwell and Majid Jaridi came up with the concept of positioning space as an industry for West Virginia. STF-1 was built with West Virginia talent and West Virginia capability. I think that speaks to the likelihood of our success for step two.”

    Cordwell said she was thrilled about the project’s potential to kickstart an industry that will have Mountain State residents designing and building satellites destined for the stars.

    “This could enable West Virginia to participate in the rapidly growing commercial sector associated with the launch and operation of small satellites,” she said. “The very unique and exciting aspect of this project is that it brings academic, industrial and government partners together to initiate and foster a research center that will bring jobs and economic activities to North Central West Virginia.”

    Demand for small satellites is very much on the rise, Page added, with the global market expected to hit more than $3 billion a year and with a robust client base that include governments, companies and research institutions. The SmallSat Center will support West Virginia businesses in serving customers that could range from a telecommunications company to a national cybersecurity program or a research institute monitoring climate change. It will be those clients’ needs that help drive the design of the second-generation IOTA satellite.

    Like STF-1, the second SmallSat will be fitted with a flight computer, radio, solar panels and cells, a camera and other instruments for data detection and collection, as well as slots for the satellite’s payload — computer cards that carry the clients’ instructions to the satellite, whether they’re looking to use it to monitor space weather or enable in-car navigation systems.

    The IOTA SmallSat may be a three-unit cube satellite, like STF-1, with a form based around three 10-centimeter cubes, or it could be scaled up to a six-unit CubeSat. Or it might take a different form altogether, according to the feedback the SmallSat Center will hear from potential clients and partners.

    “Let’s say that a client came to the Center and said, ‘We’re really interested in a satellite that serves a certain need,’” Martinelli said. “What we may do first and foremost is put them in touch with one of our private partners in the state and say, ‘OK, here’s the company that’s ultimately going to build this satellite for you.’ Then we would work with that company to find out what needs to be done, to help them deliver whatever that commercial need is. Our role is to use our talents and facilities and opportunities to fill the innovation gaps to help a West Virginia company serve a client for a small satellite.”

    Martinelli relishes the fact that this project is equal parts science and industry, theory and practice.

    “What makes this special is that, although West Virginia currently has significant space-related activities, I believe this is the first one that’s truly commercial. West Virginia has research contracts with NASA and related agencies, but the idea of space commercialization and industry in West Virginia is new,” he said.

    “We’ve demonstrated we can produce space products in West Virginia. We now have to demonstrate that we can produce space products that have market value, so I want to make sure that from day one the innovation is very intentional in terms of bringing value to as many different industries as possible.”

    Cordwell said the SmallSat Center will create 15 new jobs immediately: five at WVU and 10 through the consultant company that will initially be contracted to offer small satellite simulation, design, manufacturing, deployment and management services to the team. Within three to five years, as the center becomes financially self-sustaining, she predicted that the high-wage staff positions will increase to more than 30 jobs in administration, business development, education and advanced aerospace manufacturing.

    Martinelli said he believes it won’t be long before West Virginia has a significant need for “computer scientists and engineers of all types – electrical and computer engineers, chemical and aerospace engineers, even structural engineers – as well as analysts, people who know how to work with data. That’s going to be a big part of it because ultimately the value of the satellite is usually data driven. Data is the ultimate product and many emergent companies here will need somebody who knows how to work with data, statisticians and analysts and modelers and mathematicians.”

    Page pointed out that, considering West Virginia lost 1,800 technology and science jobs between February and May 2020, making sure those aerospace positions are filled by skilled, trained West Virginians is part of the vision, too.

    “If you talk to anyone that’s in engineering or a STEM field, they say two things matter in terms of someone’s decision to follow that career path,” Martinelli said. “No. 1 is that you get to them early. No. 2 is that there’s somebody, maybe a family member or maybe someone else in their life, who works in STEM.”

    Martinelli acknowledged that too many youth in West Virginia lack one or both of those opportunities but said he’s passionate about engineering education and growth in STEM.

    “We’re going to use the SmallSat Center as an opportunity to hit that aggressively. I certainly will look at all possibilities to showcase what we’re doing to K-12 students,” he said.

    “This is the advantage of working with the University, the fact that it gives us not just our research capabilities, but the educational mission as well. We have our clean room and labs where the satellite will be assembled and components tested and so forth. I want to see a parade of students in there on elementary school field trips. I want to see young students going through the facility where they talk to engineers and foster interest in STEM careers.”

     

    Original Article by WVU Today on wvutoday.wvu.edu, July 20, 2022.

    Original Article Here

42. Inflation hits another 40-year high. What does that mean for shoppers and the next Fed rate hike?

    July 13, 2022 8:21 pm Comments Off on Inflation hits another 40-year high. What does that mean for shoppers and the next Fed rate hike?

    Inflation jumped again in June on a persistent climb in gas, food and rent costs, notching another 40-year high and likely solidifying the Federal Reserve’s plans for another big rate hike this month.

    Prices increased 9.1% from a year earlier, up from an annual rate of 8.6% the prior month and the largest gain since November 1981, the Labor Department’s Consumer Price Index showed Wednesday. Economists surveyed by Bloomberg had estimated inflation would rise to 8.8%.

    On a monthly basis, consumer prices increased 1.3%, the largest such leap since 2005, compared with a 1% rise in May.

    “Ouch,” Ian Shepherdson, chief economist of Pantheon Macroeconomics, wrote in a research note of the latest surge in prices.

    Amid signs that inflation is poised to gradually ease, he, along with other economists, noted June likely marked its peak, though a similar pronouncement in the spring proved premature.

    Stock market reaction

    The report bolsters the Federal Reserve’s plans to raise its key interest rate by a hefty three-quarters of a percentage point for a second straight month as part of an aggressive campaign to curtail inflation.

    The development disappointed already dour investors. After the latest figures were released, the Dow Jones Industrial Average sank by more than 300 points. The S&P 500 fell by 37 points, roughly 1%.  And yields on 10-year notes popped. In midmorning trading, they hovered at 3.03%.

     

    What is causing inflation?

    June’s surge again was led by gasoline prices, which increased 11.2% from the prior month and 59.9% annually. The good news is unleaded regular averaged $4.65 Tuesday, down from $5 a month ago.

    Grocery prices rose by 1% from May and 12.2% over the past 12 months. Both gas and food costs have been elevated largely because Russia’s war in Ukraine has disrupted global supplies of oil, wheat, corn and other commodities.

    In June, cereal prices rose 2.5% from the prior month and 14.2% from a year ago. Bread was up 1.6% monthly and 10.8% annually. Chicken costs increased by 1.5% from May and 17.3% yearly.

    There were some encouraging signs. Bacon prices fell 1.9%, its second straight large monthly decline. And beef and veal prices decreased 2.3%.

     

    Will food prices go down?

    Commodity prices have tumbled recently amid recession fears and ebbing consumer demand. That already has pushed down gas prices and set the stage for more moderate food price increases within months, says Wells Fargo economist Sam Bullard.

    Barclays economist Pooja Sriram, however, believes higher fertilizer costs for farmers could keep grocery prices fairly high throughout the year. Russia is the leading exporter of fertilizer and the Ukraine war has driven up the cost of that commodity as well as its chief ingredient, natural gas.

    Core prices, which exclude volatile food and energy items, increased 0.7% in June following a 0.6% rise the prior month, That nudged down the annual rise to 5.9% from 6% in May, teh third straight monthly decline.

     

    What is rent inflation?

    Rent climbed 0.8% monthly and 5.8% over the past year as people who hunkered down with family members during the pandemic moved into their own apartments.

    There were some positive developments for summer travelers. Despite surging demand, airline fares fell 1.8% while hotel rates declined 2.8% but they’re still up 34.1% and 10% from a year earlier, respectively.

    There are hints that inflation will likely soften in the months ahead. Besides falling commodity prices, supply chain troubles are abating, wage increases may be moderating and retailers’ bloated inventories are triggering big discounts for shoppers.

    Also, consumer purchases have started shifting from goods to services, such as dining out and traveling, now that the pandemic is broadly easing.

    “This will be the last big increase,” Shepherdson of Pantheon Macroeconomics says.

     

    Does the report raise recession risks?

    Yes, at least to some extent. Higher inflation leads consumers to rein in spending, which makes up about 70% of economic activity, and could mean bigger Fed rate hikes, which would hurt borrowing. Bank of America says the report is consistent with its call for a recession in the second half of the year.

     

    Is this close to the worst inflation since World War II?

    Not really. In March 1947, inflation hit a dizzying 19.7%. The spike was rooted in effects from the end of the war — the elimination of price controls, supply shortages and pent-up demand, according to a White House blog.

     

    Original Article by Paul Davidson on usatoday.com, June 13, 2022

    Original Article Here

43. July Newsletter: BDR Kicks Off Summer With A Splash!

    July 6, 2022 2:05 pm Comments Off on July Newsletter: BDR Kicks Off Summer With A Splash!

    View our July Newsletter: BDR Kicks Off Summer With A Splash!

    Click Here!

44. Korean Drug Maker Pledges to Build Plant in Morgantown

    June 9, 2022 1:10 pm Comments Off on Korean Drug Maker Pledges to Build Plant in Morgantown

    MORGANTOWN W.V. – South Korean drug manufacturer UNDBIO has signed a Memorandum of Understanding pledging to manufacture insulin in West Virginia. The letter indicates there are plans to locate the facility at the West Virginia University Research Park in Morgantown.

    Mitch Carmichael, the Secretary of State for Economic Development of West Virginia and Yong Soo Jun, Chairman of UNDBIO, Inc. signed an MOU on May 17, 2022, with the state agreeing to provide fiscal, tax, and other incentives to promote the company’s production of insulin.

    “I am happy to establish our relationship with the State of West Virginia to manufacture affordable insulin and insulin analogues for the diabetic population around the globe,” said UNDBIO’s Chairman Jun. in a press release. “We would welcome other partners and investors into our global insulin project,” he said.

    The announcement comes with the hope that UNDBIO’s plans will come to fruition, resulting in 1,200 new manufacturing jobs in Monongalia County. UNDBIO plans to begin construction on the manufacturing plant during the second half of 2022, complete the plant in 2023 and manufacture clinical drugs for human clinical trials in 2024.

    Company officials met with U.S. Senators Joe Manchin and Shelly Moore Capito who both have expressed support for the project.

    “UNDBIO has showcased their commitment to bringing long-term, good-paying jobs to West Virginia and as UNDBIO, WVU and state officials continue discussions, my staff and I are prepared to support these efforts to bring manufacturing opportunities to the Mountain State,” said Manchin.

    “The news of this agreement between UNDBIO and the State of West Virginia is a positive step forward in UNDBIO’s quest to manufacture insulin right here in West Virginia. While there is still more work to do to finalize this new facility, I stand ready to help to make sure this becomes a reality. I congratulate UNDBIO on this advancement and look forward to supporting them in their investment that could lead to creating more than 1,000 jobs in West Virginia.”

     

    Original Article by Dave Wilson on wvmetronews.com, June 8, 2022

    Original Article Here

45. June Newsletter: Starting A New Business? Don’t Do It Alone!

    June 7, 2022 12:00 pm Comments Off on June Newsletter: Starting A New Business? Don’t Do It Alone!

    View our June Newsletter: Starting A New Business? Don’t Do It Alone!

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46. State’s Four Legislative Leaders Join Coalition to Bring Hydrogen Hub to West Virginia

    May 2, 2022 6:20 pm Comments Off on State’s Four Legislative Leaders Join Coalition to Bring Hydrogen Hub to West Virginia

    MORGANTOWN — West Virginia’s four legislative leaders joined the West Virginia Hydrogen Hub Coalition on Thursday, adding their voices to those working to bring a hub to West Virginia.

    The U.S. Department of Energy aims to establish four regional hydrogen hubs using Infrastructure Investment and Jobs Act money, and one of them will be in Appalachia, the nation’s largest natural gas-producing region. The West Virginia Hydrogen Hub Coalition submitted its official response to DOE’s first step in the process to select winning hydrogen hubs on March 21.

    

    On Thursday, Sens. Joe Manchin and Shelley Moore Capito and Rep. David McKinley jointly announced that Senate President Craig Blair, Minority Leader Stephen Baldwin, House Speaker Roger Hanshaw and Minority Leader Doug Skaff joined the coalition.

    Manchin, who chairs the Senate Energy and Natural Resources Committee, said, “We are thrilled to have the West Virginia legislative leadership join us in our efforts. With our abundant energy sources and strong partnerships, our state is uniquely situated to compete to develop a hydrogen hub. Our proposal showcases how West Virginia can continue to lead the country — and the world — in advancing energy technologies and bring good-paying jobs to the state.”

    Capito said, “West Virginia’s leaders — Democrat and Republican — are united around the potential we know is ready to be unleashed right here in our state when it comes to investing in and developing a hydrogen hub.”

    She told The Dominion Post on Thursday that DOE will likely have news on the selection process this summer. A presentation from Manchin’s office says hub selection is due in May 2023.

    Capito told The Dominion Post, “The best way to handle what we see in terms of the climate and the climate changing is to innovate and research. … A hydrogen hub would be one of those innovative avenues to a cleaner, greener and more powerful future.”

    

    McKinley said in the announcement, “The Infrastructure Bill has given us a once-in-a-lifetime opportunity to modernize infrastructure that will support a regional hydrogen hub. Which means West Virginia, one of the country’s largest coal, gas and oil producers, can lead an all-of-the-above energy strategy that leverages the state’s existing resources while developing next generation technologies that support good jobs and energy security for the U.S. into the future.”

    The other two members of West Virginia’s Congressional delegation, Republicans Alex Mooney and Carol Miller, voted against the infrastructure bill and did not participate in the announcement.

    The four legislative leaders also issued comments.

    Hanshaw said, “We are creating a new economy here in West Virginia, and we stand ready to do what we can to be sure the state is attractive to this project, as well as many others.”

    

    Skaff said, “West Virginia has a long history of powering this country and bringing a hydrogen hub to the Mountain State will allow our hard-working families to be a part of powering our great nation far into the future.”

    Blair commented, “As we look to expand our strategy and portfolio into the next generation, I look forward to us being leaders in energy technology.”

    And Baldwin said, “For the sake of our future, we need to be a more diverse and cleaner energy state. Expanding the hydrogen market here would allow us to create jobs, produce energy for our own citizens to use, and build a more-sustainable economy.”

    Blue hydrogen is produced by steam methane reforming, which requires burning natural gas to reform methane into hydrogen and carbon dioxide, from which they capture and sequester the CO2. A possible alternate, cleaner way to produce blue hydrogen is microwaves; it can produce hydrogen faster with less energy.

    Grey and brown hydrogen also use steam to produce the gas, but don’t sequester it. Green hydrogen produces the gas from water.

    A hub, according to the presentation by Manchin’s office, is a network of clean hydrogen producers, potential consumer and connective infrastructure. At least one hub will produce hydrogen from fossil fuels, one from renewables and one from nuclear energy (pink hydrogen).

    At least one hub will demonstrate clean hydrogen use for electric generation, one for industrial applications, one for residential and commercial heating and one for transportation.

    The infrastructure act included $9.5 billion for hydrogen, including $8 billion for Regional Clean Hydrogen Hubs that will jump-start the production, transport, and use of clean hydrogen across the U.S. economy; $1 billion for a Clean Hydrogen Electrolysis Program to reduce costs of hydrogen produced from clean electricity; and $500 million for Clean Hydrogen Manufacturing and Recycling initiatives to support equipment manufacturing and strong domestic supply chains.

    On Feb. 15, Manchin, Capito, McKinley and Gov. Jim Justice announced the launch of the West Virginia Hydrogen Hub Coalition. On Feb. 25, they convened the initial organizing meeting. GO-WV, the Gas and Oil Association of West Virginia, is also a member.

     

    Original Article by David Beard on dominionpost.com, April 28, 2022

    Original Article Here

47. Capito, Manchin, McKinley Offer support of Harmony Grove Interchange Project

    6:14 pm Comments Off on Capito, Manchin, McKinley Offer support of Harmony Grove Interchange Project

    MORGANTOWN — The push for approval of the new Harmony Grove interchange has gone federal.

    In an April 27 letter to U.S. Transportation Secretary Pete Buttigieg, Senators Joe Manchin and Shelley Moore Capito and Congressman David McKinley requested the review and approval of the Interchange Justification Report that will allow the project to move forward.

    The letter explains the interchange would allow direct interstate access to the Morgantown Industrial Park and references, without naming it, the Mountaintop Beverage facility currently under construction.

    That facility, which is expected to be operational in November, brings with it more than $200 million in clean manufacturing investments and several hundred jobs, according to the letter. It’s also expected to bring up to 100 trucks to the park on a daily basis.

    But that, Monongalia County Commission President Tom Bloom explained, is just the beginning.

    “What the public needs to understand is, we have two companies that want to expand and other companies that want to move in, and all they need to hear is this major project is moving forward,” Bloom said. “We’re thrilled that not only our federal representatives, but also the governor and the state, are working with us to request this interchange.”

    Capito followed up on the letter Thursday when she asked Buttigieg about the interchange specifically during a subcommittee hearing to review the U.S. Department of Transportation’s 2023 budget request.

    “If safety’s your priority, this is a safety issue because of the business park that is associated, which is growing, and you know, that’s been difficult for us to be able to grow in our state,” Capito told Buttigieg. “We’re excited about the possibilities here, but it would take a lot of truck traffic out of those local areas. So, I just want to put that on your radar screen again and hope you can take a look at that.”

    The current working price estimate for the interchange is $41.6 million, though that number is believed to be on the high side. The actual cost in state and/or federal dollars would be $10 million, with the new Morgantown Industrial Park TIF district paying down the rest.

    Bloom said the local investment in the project coupled with the amount of economic development it promises to deliver make it a “win, win” in terms of federal infrastructure dollars.

    “We’re just very, very excited about this project,” he said.

     

    Original Article by Ben Conley on dominionpost.com, April 28, 2022

    Original Article Here

48. Company to Bring 500 to 600 High-Tech Jobs to W.V., Official Says

    April 10, 2022 1:11 pm Comments Off on Company to Bring 500 to 600 High-Tech Jobs to W.V., Official Says

    WHITE SULPHUR SPRINGS, W. Va. (WCHS) — A company official announced Thursday that a new company will bring 500 to 600 high-tech jobs to West Virginia.

    The jobs will be created by American Medicines Co., where Crystal Mersh is the chairwoman of the board. She is also the chief executive officer for QxP.

    Mersh, a Calhoun County native, made the announcement at the West Virginia Chamber of Commerce’s 2022 Women’s Leadership Summit at The Greenbrier resort in White Sulphur Springs.

    “My team looked at me and said, ‘We want to go to West Virginia and the reason we want to go to West Virginia is two things: workforce and our opportunity to work with the state economic development authority here, the governor’s office and just the general state of West Virginia,'” Mersh said.

    The company that will make everyday medications to help with things like heart disease, blood pressure and diabetes is still looking for an exact city to locate.

    “There are options for existing facilities,” she said. “There are options for greenfield options.”

    In terms of what kinds of jobs they will be hiring for, Mersh says people can expect a way range of skillsets from manufacturing to lab work.

    “We’ve got a broad variety of skill sets that we will need there. We’ll also need laboratory analysts, chemists, microbiologists leaders, managers, executives, the entire gamut,” Mersh said.

    If Mersh looks familiar, the CEO of QxP, a pharmaceutical consulting company, is also the same woman who helped purchase the old Calhoun County High School with plans to turn it into a community center.

    Although American Medicines Company looked at several large cities to locate, she said it was surreal moment that everyone was all on board for her home state.

    “The sense of community is still here and there’s a big business value in that that you don’t get in an area like Research Triangle Park or Boston where everyone is a transplant,” she said.

    Mersh says they will continue looking at potential properties all next week.

     

    Original Article by Lauren Talotta, Jeff Morris, Anna Saunders March 31, 2022 on Eyewitness News

    Original Article Here

49. West Virginia University Takes Ownership of Former Mylan Facility

    April 1, 2022 1:25 am Comments Off on West Virginia University Takes Ownership of Former Mylan Facility

    West Virginia University now officially owns the former Mylan pharmaceutical manufacturing facility, according to information released by the university Thursday afternoon.

    WVU paid $1 for the facility from health care company Viatris and plans to use the facility to create “short-, medium- and long-term academic, employment and community opportunities for Morgantown and surrounding areas, as well as tuition scholarships for impacted Mylan employees.”

    WVU and WVU Medicine will work together to oversee future development through a reconfigured WVU Innovation Corporation which will handle the daily operations at the facility.

    “We are pleased that Viatris placed its faith and trust in West Virginia University by engaging with us in this opportunity which combines WVU’s educational, entrepreneurial and research endeavors in new ways to make a real difference in our community,” WVU Vice President forStrategic Initiatives Rob Alsop said.

    Discussions are already underway with potential tenants to lease space within the 1.1 million square foot facility, according to WVU Health System President and CEO Albert Wright.

    “This property holds a lot of potential for Morgantown, the region and the state,” he said.”There is already a tremendous level of pioneering research being done through the University and the WVU Health System.”

    The sprawling facility has room for multiple tenants, Wright said during a press call following Thursday’s announcement.

    “There is significant interest from many parties in that building. We’re going to be working up a lot of different possibilities as to how we use that building over time,” he said. “I think it’s going to look more like a shopping mall over time, with a few anchor tenants and a few smaller, other entities in there versus one bog occupant.”

    There are currently no plans to remodel the facility, but that could change as tenants come on board and outline their specific needs, Wright said. 

    Gov. Jim Justice released a statement Thursday applauding WVU’s announcement. 

    “When you have a pillar of our state as well known and as successful as WVU taking over such an important facility right in their backyard, you know the results are going to be tremendous.” 

    U.S. Sens. Joe Manchin, D-W.Va, and Shelley Moore Capito, R-W.Va. and Rep. David McKinley, R-W.Va., also released a joint statement Thursday afternoon. 

    “Today’s announcement is great news for the Morgantown community and our entire state. I know my dear friend Mike Puskar is looking down smiling that his beloved Mylan will now be part of the WVU family. I’m pleased WVU is taking this next step at the Viatris facility while also taking action to support former workers impacted by its closure,” Manchin said. “Investments in critical facilities like the Viatris property are essential to addressing our national security and public health, through improving our medical supply chain and increasing domestic manufacturing of medicines. As we move forward, I will continue working with WVU, Viatris and state and local officials to get the facility up and running and employing hardworking West Virginians.” 

    “The announcement that WVU and WVU Health are taking over the Viatris is welcome news for the Morgantown community and the entire state of West Virginia. I am glad to see WVU and WVU Health take this promising next step, and I wish them well in this new endeavor as they seek out new tenants. I know it has been a challenging time following the announcement regarding the facility, and I am glad we have the opportunity to move forward in a way to strengthen our economy and develop jobs in the area,” Capito said. 

    “Thank you to WVU for taking this necessary step to attract private investment and jobs,” McKinley said. “Losing Mylan was a blow to Morgantown and the surrounding area, but I am confident this facility can be put to good use again. We will continue to work with WVU, the state of West Virginia and all other stakeholders to provide more opportunity for West Virginia families.” 

    In December 2020 Viatris announced plans to close the Morgantown Mylan Chestnut Ridge oral solid dose manufacturing facility on July 31, 2021, eliminating the 1,500 jobs. The announcement came about two months after Viatris merged with Mylan Pharmaceuticals. 

     

    Original article written by Charles Young March 31, 2022, on wvnews.com

    Original Article Here

     

50. Natural Gas Is the Future of Energy

    March 11, 2022 5:03 pm Comments Off on Natural Gas Is the Future of Energy

    Without stepping foot in the Mountain State, getting to know our people or way of life, politicians in Washington, D.C., and from other states are advancing energy and environmental policies that would be punishing to West Virginia’s businesses, communities, way of life and citizens. 

    While we’ve long been a leading producer of the world’s energy, West Virginia’s natural gas and oil sector of today is modern and efficient, with digital innovation and technological breakthroughs transforming a sector vital to our state’s livelihood.

    The energy we produce here powers lives across the world — and, with natural gas demand set to rise globally almost 25% by 2050, we’re doing it more cleanly, efficiently and responsibly than anywhere else on the planet.

    From Williamson to Charleston, Parkersburg and Weirton, natural gas and oil are the life blood of West Virginia’s economy, contributing $11.2 billion to our state’s annual economic output, according to a recent report.

    The 82,000 union and nonunion jobs we support across our economy means diners filled inWest Union, new development in Bridgeport and opportunities for high school, technical school and college graduates to find a good-paying career here at home.

    Today’s natural gas and oil sector is ahead of the curve, advancing technologies that move the entire industry forward. From pad drilling and underground horizontal laterals, which greatly reduce the amount of surface development, to recycling and water-reuse practices that limit fresh-water withdraws, and recognizing value in older wells through care and attention and responsible plugging, we’re seeing the future of natural gas and oil development right here inWest Virginia.

    Sens. Joe Manchin, D-W.Va., and Shelley Moore Capito, R-W.Va., and our entire congressional delegation understand the critical importance of natural gas to meeting the dual challenge of a cleaner and economically prosperous world. Yet, far too many in Washington don’t realize the devastating consequences of unrealistic energy and environmental policies.

    In Pleasants County, thanks to readily available natural gas, we are seeing manufacturing on the rise, as the $350 million West Virginia Methanol facility will take natural gas and convert it into a critical input for all sorts of everyday goods, such as carpeting, clothing, and medical masks and gloves, to name a few.

    And the proposed Longview Power natural gas plant in Monongalia County is a great example of using the natural gas right beneath our feet to power nearby homes and businesses. In addition to contributing reliable energy to the electrical grid, the construction of the plant will create 5,000 jobs during construction, generating more than $360 million in total compensation.

    We are proud to produce energy that powers our state, nation and the world. Rather than talking past each other on cable news, politicians might consider spending more time in thec ommunities affected by their decisions.

    Come to West Virginia and see the future of American energy at work.

     

    Original Article by Charlie Burd Executive Director, GO-WV, March 7th 2022, on wvnews.com

    Original Article Here

51. West Virginia Is Blessed With Abundant Energy

    5:02 pm Comments Off on West Virginia Is Blessed With Abundant Energy

    As 2021 finishes out, West Virginians have experienced many blessings — from a rebounding economy with more job opportunities to a stronger, more fiscally sound state.We’re moving forward, together. 

    We’ve even seen the benefits — and drawbacks — of being in the national political spotlight thanks to the steadfast leadership from Sens. Manchin and Capito, and our congressional delegation. Amid the hustle and bustle of Washington, D.C., our leaders haven’t forgotten their roots, the people who helped get them into office, and the energy sector that’s bedrock to our state and nation’s well-being. 

    Whether it’s heating homes, schools, and small businesses, spurring manufacturing growth, advancing environmental goals, or creating opportunities for local high school, trade, and college grads, our world is brighter because of West Virginia natural gas. 

    Make no mistake, the fundamentals of our industry remain strong. We’ve seen year-over-year increases in natural gas production that have made West Virginia the country’s fifth largest energy producer. And additional pipeline expansion in 2022 will open new markets for our resource. 

    The highest paying sector in West Virginia, natural gas development, supports the careers of more than 82,000 West Virginians, from Weirton to Bluefield and everywhere in between. 

    The natural gas we produce in the Mountain State is our economic engine and climate plan — and expanding domestic and international natural gas use will further drive production growth, investment, job creation across West Virginia, and reduce our overall global carbon footprint. It’s not rocket science — it’s Economics 101. 

    More U.S. natural gas production is an all-around win-win. As we headed into the winter season, Americans cranked up the heat, and it’s natural gas that kept us warm. Approximately 40% of West Virginia’s homes rely on natural gas for heating, as do about half of all American households. 

    While energy prices have risen lately due to numerous factors, including poor political and regulatory decisions, thanks to greater U.S. production, Americans continue to enjoy significant energy savings at home and at the gas pump. Since 2008, households, businesses and manufacturers have saved $1.1 trillion due to increased production across the country, including in Appalachia. 

    All West Virginians enjoy the energy savings this industry creates — and when our industry does better, so does our state’s overall fiscal health. 

    Revenues generated by taxes on natural gas and oil have contributed more than $3 billion to the state budget since 2008 — including hundreds of millions of dollars annually in severance and local property tax revenues, both of which directly support individual counties. 

    Municipalities rely on this vital revenue stream to carry out the basic functions of local government — like maintaining roads, improving bridges and parks. 

    These blessings are just a few of the positive impacts the oil and natural gas industry have had on our state, much of which we have a duty to share with our nation and allies across the globe. 

    As the world’s largest producer of oil and natural gas, our supply far outpaces domestic demand, giving us the opportunity to share these clean energy resources with the rest of the world. In 2022, the U.S. is projected to be the world’s largest liquefied natural gas exporter — snagging the top spot from Russia and the Middle East. Our position as the world’s trusted, reliable energy supplier enhances our national security, and is good for our climate and our economy here at home. 

    While many obstacles remain heading into the new year, the past two years have forced our industry to adapt and be resilient, priming us for immense growth as we continue to expand and deliver more for American and global consumers. 

    We have much to be excited about as 2022 approaches and we’re grateful each and every day for the talent, grit and determination of our industry in delivering the energy that’s fueling our future. 

     

    Original Article by Charlie Burd, March 7, 2022 on wvnews.com

    Original Article Here

52. How W.V. Oil and Gas Aids U.S. Foreign Policy

    5:02 pm Comments Off on How W.V. Oil and Gas Aids U.S. Foreign Policy

    The energy sector is fundamental to our nation’s economy, creating good jobs for hardworking Americans and providing innovative solutions to modern-day challenges. As a top-five energy producer, what we do right here in West Virginia — whether it’s producing, transporting, or using our natural resources — makes a big difference in everyday life. 

    Especially now, as Europe faces an energy crisis and a conflict in Ukraine, we’re seeing firsthand the importance of our energy abundance to America’s national security and foreign policy interests. Just last week, the White House and European Commission made a pact to increase the supply of liquefied natural gas, including from the U.S., to Europe.

    “The United States and the EU are working jointly towards continued, sufficient, and timely supply of natural gas to the EU from diverse sources across the globe to avoid supply shocks, including those that could result from a further Russian invasion of Ukraine,” a joint WhiteHouse-European Commission release said.

    We mustn’t forget that the shale revolution that occurred right here in Appalachia over the past decade is what enabled our country to become the world’s top oil and natural gas producer, and recently, the largest exporter. Hydraulic fracturing unleashed resources once considered unattainable in the Marcellus and Utica shales (found across much of West Virginia,Pennsylvania, and Ohio), and this region now provides a third of the total U.S. natural gas supply.

    It’s also important to recognize it’s West Virginia’s natural gas producers helping to meet the growing demand for U.S. LNG.

    Antero Resources, for example, is the top natural gas producer in the state and provided enough natural gas for the equivalent of 90 LNG cargoes sent to our allies in 2020 alone. They are directly supplying LNG to nations around the world, improving their energy security, health, safety and livelihood.

    Another major West Virginia producer, Southwestern Energy, transports roughly 50% of the natural gas they produce in Appalachia and Haynesville to the Gulf of Mexico to be sold on the global LNG market to our allies.

    Simply put, “the U.S. LNG industry, powered by American shale, is a solution that could prevent this type of crisis we are seeing over there in Europe from happening,” EQT CEO Toby Rice recently told CNN.

    Not only does America benefit from LNG export growth as it supports our domestic economy, but we are also providing the world with a cleaner energy source, helping reduce global emissions.

    Consider: Our country has reduced energy-related emissions faster than any other country because we started producing and using more natural gas, and American LNG export provides other nations with that same ability.

    West Virginia-produced energy is key to providing this critical fuel to our country, but we are also being more efficient and environmentally responsible than any other shale-producing basin in the country. As a recent Rystad Energy report found, “the Appalachian Basin was US’ best-in-class in 2020 when it comes to CO2 emissions intensity … Such a level of CO2 intensity performance brings Appalachia to the top quartile among all oil and gas fields globally.”

    This progress is because West Virginia’s oil and natural gas producers are driving innovation, creating environmental solutions, and they are committed to making West Virginia a better place to live and work.

    Across the region, companies are implementing best practices, reducing emissions and setting goals to improve environmental performance. These initiatives include responsibly sourced natural gas certification, carbon capture and storage, and setting aggressive greenhouse gas emission reduction targets.

    Whether large or small, the companies that make up West Virginia’s oil and natural gas energy industry take environmental protection, conservation and public safety incredibly seriously.These are our mountains, valleys, rivers and communities after all, and we are incredibly proud to contribute to American energy and national security.

     

    Original Article by Charlie Burd, March 7th, 2022 on wvnews.com

    Original Article Here

53. Pipeline Infrastructure Unlocks W.Va.’s Energy Potential

    5:02 pm Comments Off on Pipeline Infrastructure Unlocks W.Va.’s Energy Potential

    West Virginia is an energy powerhouse, and it’s no secret the work we do here keeps the lights on across our country and throughout the world. In fact, natural gas production has grown 770% over the past decade — thanks to the advances in hydraulic fracturing and horizontal drilling technologies — edging the Mountain State up to be the nation’s fifth-largest energy producer. 

    But without modern pipeline infrastructure, there’s no way to move energy from where it’s produced to where it’s needed.

    Natural gas and oil development is an economic and environmental winner for the entire region. Families and communities rely on the good-paying jobs, investments in manufacturing, and small business support that energy production generates.

    In 2019, West Virginia’s natural gas and oil industry supported more than 82,000 well-paying jobs, contributing over $11.2 billion to our economy.

    And thanks to the homegrown energy produced in our backyards, West Virginians save billions in household energy costs – $4.3 billion in 10 years (2006-2016), to be exact, according to theConsumer Energy Alliance. For commercial and industrial natural gas users, those savings amount to $2.7 billion.

    In order to build on that success, we must commit to expanding and building new pipelines, transmission systems, and processing facilities to deliver more affordable, reliable energy.

    Pipelines are the safest and most efficient way to transport natural gas, and they’re overwhelmingly safely built by skilled building trades men and women. But politics, government red tape and “Keep it in the Ground” extreme activism aimed at ceasing the development of all fossil fuels have stopped, blocked, or delayed critical pipeline projects that would improve access to affordable, abundant energy.

    Locally, the Mountain Valley Pipeline is facing some of the same hurdles that led to the cancellation of other pipelines, like the PennEast Pipeline a few weeks ago and the AtlanticCoast Pipeline last summer.

    Mountain Valley, expected to go into service next year, spans more than 300 miles from northwestern West Virginia to southern Virginia, with a proposed extension to increase service to fast-growing North Carolina communities.

    Pipelines to move gas to the Southeast, New England and Midwest markets are critical to fueling economic growth while helping states reach their climate goals. Just in North Carolina, natural gas use for electricity generation grew 13-fold from 2005-2018, and one in every four homes depends on natural gas for heating.

    But regulatory delays and pipeline blockades threaten the success of MVP and risk burdening consumers as they have in New England, where anti-domestic energy policies force consumers to rely upon imports to meet demand — despite being within a stone’s throw of the Marcellus and Utica shales.

    To continue driving economic growth, keep the lights on and achieve clean air progress in WestVirginia, we need a business-friendly environment that attracts pipeline infrastructure development and related downstream investments such as manufacturing.

    We must prioritize making improvements in our country’s pipeline infrastructure network for the sake of all West Virginians, our nation’s energy security, and our world’s environmental well-being.

     

    Original Article by Charlie Burd Executive Director, GO-WW March 7th, 2022 on wvnews.com

    Original Article Here

54. PepsiCo opening new facilities in West Virginia

    March 10, 2022 5:03 pm Comments Off on PepsiCo opening new facilities in West Virginia

    CHARLESTON, W.Va. — PepsiCo Inc. plans to open two new facilities in West Virginia by the end of this year, bringing an investment of $32.5 million into the state.

    Gov. Jim Justice announced the projects on Thursday, which include a 100,000 square foot warehouse and distribution center for PepsiCo Beverages North America in Ona and a 70,000 square foot distribution center for Frito-Lay North America in Scott Depot.

    The Scott Depot facility will replace the current facility in Poca. The new space will have four times the square footage with expanded operations.

    PepsiCo’s products include Pepsi, Mountain Dew, Lay’s chips and Doritos.

    The company will employ 185 people between the facilities, including 25 new full-time positions.

    “These new facilities are going to be absolute game changers for West Virginia and I am beyond excited to celebrate PepsiCo’s exciting expansion in our state,” Justice said.

    Construction on the Ona facility is already underway.

     

    Original Article by MetroNews Staff, March 10th 2022, on wvmetronews.com

    Original Article Here

55. West Virginia economy to benefit from energy prices in spring, hiring and supply chain improvements to continue

    March 7, 2022 7:58 pm Comments Off on West Virginia economy to benefit from energy prices in spring, hiring and supply chain improvements to continue

     CLARKSBURG — As spring approaches, business officials have called for a promising outlook for West Virginia’s economy in the next few months.

    Growth is expected across the board, but Steve Roberts, president of the West Virginia Chamber of Commerce, notes energy sector growth in particular.

    “We are expecting broad-based growth in West Virginia. Energy prices are up and probably going to continue going up, and West Virginia is our nation’s fifth largest energy producing state, so when the price of energy goes up, that has an impact on our economy in WestVirginia,” Roberts said.

    “So we sell more energy and sell it at higher prices. We’re expecting to see improvements in the energy markets, of course,” he said.

    Data from the United States Bureau of Labor Statistics shows that energy costs relating to electric have gone up 8% in January compared to a year ago and were at the highest rates in the last decade.

    Prices for utility gas, or piped gas, have gone up by nearly 30% from last year, also the high estrate in at least 10 years.

    More growth is expected as the weather improves, leading to more jobs being added to the workforce.

    Some of these jobs will be in construction as infrastructure improvements begin.

    “As we enter the fairer weather, construction will be brisk. We have all of the infrastructure issues that will be underway,” Roberts said. “We have nearly a half a billion dollars worth of infrastructure projects to get underway in West Virginia. This is going to create a huge number of jobs.” 

    The West Virginia Division of Transportation (WVDOT) has major projects planned for this spring including work on Interstate 70 bridges predicted to be finished this summer, according to the WVDOT’s website. 

    Other industries are looking to hire as well, such as service, retail and hospitality, officials said. 

    “We’re going to have a lot of additional hospitality industry jobs,” Roberts said. “Everything from restaurants to hotel and motel workers to gas station workers — those are all hospitality workers, and they’re going to be picking up. My guess is that we will see jobs numbers the likes of which we haven’t seen in 13-14 years.” 

     

    “I think there’s going to be a renewed push by retailers to try to staff up much earlier than they did,” said Joe Bell, director of corporate communications for the Cafaro Co., which operates Meadowbrook Mall. “Quite honestly, it may be a situation where they’re starting to offer full-time positions, not just seasonal ones, just so they can make sure they’re able to keep their doors open at reasonable times.” 

    Increased hiring is likely as experts expect much more retail spending this spring. 

     

    “The manufacturers are excited, and the customers are excited, so I think you’re going to see a different twist to retail this year. We’ll keep our fingers crossed,” said Cathy Goings, owner of Wicked Sisters Boutique in downtown Clarksburg. 

    

    “With the extra money people will have, the retail industry is going to pick up. So we’re going to have the potential for a very strong period of economic gains in West Virginia,” Roberts said.

    While gathering materials for the spring/summer line at her boutique, Goings has noticed marked improvements in shipping speeds, which suggests that the supply chain has improved since the holiday season.

    “I just returned from an apparel show in Las Vegas, and I’m already receiving some of my merchandise. So I think the manufacturers are eager to get things back on course again,”Goings said.

    “So to me, they’re speeding up and expediting the shipping process. We’ve already started receiving a lot of our spring merchandise, and I’m currently in the process of revamping thestore to accommodate all the new merchandise,” Goings said.

    Others also note improvement in the supply chain and are hopeful the situation will continue to get better.

    “It’s been gradually improving for the past couple months, and I think that will continue to improve,” Bell said.

    “We are hearing that there are marked improvements,” Roberts said. “The challenges to the supply chain are less difficult than they were in the November and December period, so we’re hopeful. But we’re not prepared to say the supply chain problems have been solved and are over. We’re hopeful; we’re optimistic.”

    There is a strain of caution embedded within the optimism due to the possibility of unforeseen circumstances affecting matters, including recent and future global events.

    “It’s anyone’s guess how unrest that’s related to this Russian invasion and any actions that maybe China takes in response (could unfold) — it’s all speculative right now. But should that happen, it might throw a monkey wrench into the works in terms of supply chains,” Bell said.

    “I wouldn’t want to say that’s definitely going to happen, but it’s something that people might want to consider,” he said.

    Regardless, officials are confident that economic gains will be made this spring as the pandemic wanes.

    “With COVID coming to a much lower degree of infection, we’re going to have the tourism picking up,” Roberts said. “The sum total of the construction jobs, the additional activity in the energy sectors and retail spending — all of those things — add to that what should be a very good year for hospitality.”

     

    Original Article by Josiah Cork, March 7, 2022 on WV News.com

    View the Original Article here

56. West Virginia High Tech Foundation looks to further expand I- 79 Tech Park, commercial climate and weather industry

    7:57 pm Comments Off on West Virginia High Tech Foundation looks to further expand I- 79 Tech Park, commercial climate and weather industry

     

    FAIRMONT — With the dawn of a new year, the High Technology Foundation in Fairmont has set its sights on expanding the region’s commercial climate and weather industry, in addition to further building out Phase III of the I-79 High Technology Park. High Technology Foundation President and CEO Jim Estep said that as 2022 progresses, he hopes to be laser-focused on the commercial climate and weather industry, with which the foundation has been deeply involved for about a year. Estep said he’s interested in the industry and potential opportunities for companies to store or use data collected by NOAA — data that’s stored right in the middle of the High Technology Park.

    

    “We’ve been working with different schools around the state since (last year) to make them aware of how they can, number one, provide more data science-oriented education, but also encourage data science entrepreneurism in general and target toward the specific opportunity of commercial climate and weather,” Estep said. “I’ve been putting together a program with the West Virginia Development Office and West Virginia University to where we can hopefully accelerate the number of people engaging in innovation entrepreneurship in the area of data sciences.”

    Estep explained that while getting ahold of the weather data can be challenging for companies, giving them direct access to NOAA’s storage can circumvent this issue, and it’s an initiative that NOAA, too, finds attractive. He said the foundation is working with NOAA to incorporate as much as possible from their educational division in the park’s recruitment efforts.

    “If we have an interaction between those scientists and the entrepreneurs and innovators we’re trying to cultivate, that’s where I think some cool things could potentially happen,” Estep said. “This has continued to be a big focus. … “We spent a lot of time working with NOAA’s big data program to brainstorm some of the strategies we could follow in partnership with them to facilitate what we’re trying to achieve. … Bringing as much of the market share in commercial climate weather expansion to our communities is a big objective, and it’s something that we’ve been focusing on building.” In addition to NOAA, Estep said the foundation also has been working with Boston-based DataRobot, which has a satellite office in Morgantown.

    

    DataRobot’s mission is to “democratize” artificial intelligence, which would remove the barriers of entry that companies have previously needed to successfully use AI through DataRobot’s software. Estep said the company’s goals can align with the foundation’s push in the commercial climate and weather industry.

    “Their technology is extremely well-suited to provide an analytics tool that can create any number of solutions in the climate weather space that not only can maybe fill some voids in that market area, but also potentially provide an even better service or product,” Estep said. “In industry, there is disruption, and they can help create a strong momentum.” Estep’s work with the commercial climate and weather industry also intersects with the Phase III expansion of the I-79 High Technology Park.

    Over the past few years, crews have constructed a new road in the park that reaches a cul-desac, on which Estep hopes to recruit more technology companies, some of which he hopes will house additional NOAA data or use its existing resources. “Because of the visible proximity of those data centers with the research center where all of the NOAA operations are, it creates an opportunity where there could be companies that could work with NOAA data without super expensive telecommunications costs because they can have dedicated, direct lines,” Estep said. “That’s important, because we want to be able to recruit those data centers, and we also want to get it set up for those who want to get access to NOAA data.”

    Concerning Phase III, Estep also is hoping to prepare the plots of land for incoming companies, which would include running conduit and perhaps fiber to each lot. He also spoke about recent state legislation that was passed to allow Mon Power and American Electric Power to expand the solar power sector, and how the High Technology Park can make use of this.

    “That’s really important to what we’re doing, because all of the companies and federal agencies require significant renewable energy, so we’re partnering with Mon Power and WVU to plan and design a solar test bed that we hope to build in late 2022 in the park,” Estep said. “I’m optimistic that we’re going to launch a bunch of new initiatives related to solar energy, not just solar panels, but also some battery work.”

    While he said he wasn’t able to discuss all of his plans for the year, Estep said that he has a positive outlook for 2022, and he believes it will be a big year for the High Technology Foundation.

    “I’m very optimistic that we’re going to build up a program to nurture and support entrepreneurism in both the data science and cybersecurity,” Estep said. “Those are two career fields where we have a lot of jobs and will be having a lot of jobs that we’ve got to fill. I’m very optimistic that we’re going to get a program together in that regard.”

     

    Original article by John Mark Shaver, January 26, 2022 on WV News.com

    Original Article Here

57. West Virginia Is Thriving in the Roaring (20)20s

    February 21, 2022 6:35 pm Comments Off on West Virginia Is Thriving in the Roaring (20)20s

    We started the decade with a goal: fix the problems that confront West Virginia and her people. In pursuit of that goal, we have empowered a strong, aggressive championship team to help take the lead in powering a dynamic, vibrant economy in the Mountain State.

    Now, two years into the 2020s, we can proudly share that West Virginia boasted a historic revenue surplus of $413 million in FY 2021. Tourism across the state is breaking all records for visits and revenue and West Virginia has seen a balanced budget — without tax increases — for five consecutive years. We have also seen major reductions in business taxes over the past seven years, including eliminating the Business Franchise Tax.

    These successes are underscored by the caliber of companies who have recently elected to call West Virginia home. Since 2017, West Virginia has seen more than $7.3 billion in business investments.

    Manufacturing Expands!

    Nucor, North America’s largest steel and steel products company, recently announced the construction of a new state-of-the-art sheet mill on a greenfield site in Mason County. This investment of $2.7 billion is the largest in West Virginia history. This will bring 800 full-time jobs and approximately 1,000 construction jobs to the state.

    GreenPower Motor Company Inc. announced they will be leasing/purchasing a 9.5-acre manufacturing facility in South Charleston. This facility will include an 80,000-square-foot building. The company will manufacture zero-emission, all-electric school buses, bringing 200 new jobs this year and 900 jobs within the next two years and millions of dollars in economic impact to West Virginia.

    West Virginia University Medicine and Owens & Minor Inc are creating over 125 jobs, with an estimated $50 million investment in the Mountain State.

    West Virginia continues to thrive and has been recognized as 10th in best business climate, according to the Business Facilities 2021 State Rankings Report. According to the Bureau of Labor and Statistics Industry Report in 2020, West Virginia ranks first with the lowest turnover rate in manufacturing.

    Building Infrastructure for Tomorrow!

    West Virginia is conveniently located within 500 miles of 50 percent of the US population and 30 percent of Canada’s population. This proximity, coupled with access to an extensive interstate highway system, river transportation, and rail network, makes West Virginia the ideal location to build and expand business opportunities. We are also committed to providing West Virginians with improved Broadband access. Through the Broadband Investment Plan, we’ve pledged a $1 billion commitment to expand Broadband in West Virginia.

    In addition to bringing thousands of new jobs to the state, West Virginia is leading the change with employee recruitment with a first-of-its-kind partnership with JobCase, a free jobs portal that empowers West Virginians to find employment opportunities.

    As we advance through the 2020s, West Virginia will continue to invest in our people and highlight the beauty and opportunities found within our borders.

    About the Author

    On February 1, 2021, Governor Jim Justice selected Senator Mitch Carmichael to be the  first Secretary of Economic Development in West Virginia.

    Senator Carmichael previously served our state as President of the West Virginia Senate & Lieutenant Governor. Mitch is an accomplished businessman in the field of  information technology and broadband deployment. He was raised in Jackson County  and attended public schools in Ripley, WV. Mitch is an Honors graduate from Marshall  University with degrees in Finance and Economics. He is active in many community and  charitable organizations including Epworth United Methodist Church.

    Mitch Carmichael was first elected to the Senate in the year 2012 and served until 2021.  His talent and leadership skills were quickly realized by his colleagues and he was  selected to be Senate Majority Leader. Subsequently, the Senate unanimously elected  Mitch Carmichael to the position of Senate President-Lieutenant Governor and re elected him in 2019. Mitch is the first Republican to serve consecutive terms as Senate  President & Lieutenant Governor in the past 90 years of West Virginia history.

    Mitch previously served our state in the West Virginia House of Delegates, where he was  elected to five consecutive terms. His voting record has garnered awards from various organizations including the West Virginia Chamber of Commerce, West Virginia  Manufacturers, Hospitals, State Medical Association, and many others. Mr. Carmichael is  recognized statewide for his pro-growth economic policies and broadband expertise.  Secretary Carmichael is ideally suited to convey the many benefits of West Virginia to  current and potential employers throughout America and the world.

    Original Article Here

58. Governor: Housing material manufacturer to locate in W.Va., create 150-300 jobs

    February 16, 2022 2:49 pm Comments Off on Governor: Housing material manufacturer to locate in W.Va., create 150-300 jobs

    BLUEFIELD, W.Va. (WCHS) — West Virginia Gov. Jim Justice announced Friday that a housing material manufacturer is expected to locate in Bluefield, creating hundreds of jobs in the area.

    Omnis Building Technologies will build a $40 million, 150,000-square foot facility that is expected to create 150-300 jobs, according to a news release from the governor’s office.

    “I would like to be the first to thank Omnis and welcome them to our great state with open arms. I am beyond proud as governor to make yet another major economic development announcement that is going to change countless West Virginians’ lives for the better,” Justice said in the news release. “We continue to prove, without a shadow of a doubt, that the rocket ship ride I promised is real. This is the fourth major economic development project that I’ve been able to announce in less than a month, and these are huge, successful companies that are investing truckloads of money in our state, while creating careers for entire communities of hardworking West Virginians from north to south.

    Omnis is a manufacturer of energy-efficient, pre-engineered, home building systems made up of concrete insulated building units that are shipped then assembled on-site to make pre-designed homes, the news release said. Once delivered, these patented turn-key homes are easily constructed and move-in ready in just a few days.

    “The Bluefield West Virginia Economic Development Authority began working to attract Omnis approximately 14 months ago and we are honored that they chose Bluefield as their location,” the group’s executive director Jim Spencer said in the news release. “The jobs created by Omnis will be a tremendous boost to our area and it is a privilege to be part of the project.”

    When looking across the country for a location to build their facility, Omnis Building Technologies President Jonathan Hodson said Bluefield, West Virginia, is an ideal location because it enables the company to ship its homes to most of the population in the United States by rail or truck.

    The company is expected to break ground in the near future and plans to be in operation by the end of 2022. The site is located off Exit 1 of Interstate 77 on John Nash Boulevard in Bluefield.

     

    Original Article: by SHANNON STOWERS

59. Nucor deal is example of how development incentives should work

    February 10, 2022 9:57 pm Comments Off on Nucor deal is example of how development incentives should work

    While there is always reason to scrutinize economic development deals that involve government money, the pending deal to bring Nucor’s steel mill plant to Mason County looks to be a great example of sound policy.

    Because government money is ultimately taxpayer money, there remains the age-old argument of whether government should be involved with private-sector development, hence the proverbial “choosing winners and losers” debate.

    But in reality, government is ultimately involved in most major development efforts because private investors want some assurances of that level of support.

    While the public aspect of the Nucor deal has only recently come to the surface, the work behind the scenes has been ongoing for at least six months, and we applaud the efforts of Gov. Jim Justice, Economic Development Secretary Mitch Carmichael, Commerce Secretary Ed Launch and their staffs for putting together a package that should reap benefits for all West Virginians.

    What we like best about the deal, besides the obvious tremendous potential, is the structuring that requires Nucor to spend money before any incentives kick in.

    As Senior Staff Writer Charles Young reports, the Memorandum of Understanding between the state and Nucor calls for the company to invest an initial $500 million in the Mason County site before West Virginia will contribute $125 million for site preparation activities, Carmichael said.

    When the company invests another $250 million, West Virginia will kick in an additional $150 million.

    “They must adhere to their employment thresholds and their capital expenditure thresholds,” Carmichael said, “so West Virginia is protected very well with a world-class company in this regard.”

    The MOU also says that if Nucor fails to live up to its end of the deal, the state can recoup “some” funds, said Deputy Economic Development Secretary Mike Graney.

    “If they don’t perform, there are clawbacks,” Graney said. “We’ll take some of that initial funding back. We don’t expect that to ever happen. These guys are serious, and they are going to do what they said they are going to do. But we still wanted to protect the taxpayer dollars.”

    Carmichael and his team, as well as the West Virginia Legislature, which ultimately had to pass legislation to allow for some of the financial structuring, have done a great job of protecting the state’s investment.

    And it is truly an investment that needed to be made because of the potential economic impact the plant will bring.

    The mill is estimated to be a $2.7 billion project. It is projected to create about 800 manufacturing jobs, and those jobs will pay 200% of the prevailing wage, with most in the $70,000-$80,000 and upwards range.

    Construction of the steel mill, which is expected to begin in 2022, is estimated to create an additional 1,000 jobs.

    Nucor Corp. is a Fortune 150 company and the largest steel producer in the United States. It is based in North Carolina and produces steel by recycling scrap metal. This steelmaking process makes Nucor one of the cleanest steel producers in the world and a lead in sustainable steel production, according to press reports.

    “We are incredibly excited to be building this new steel mill in West Virginia. This will be the world’s most advanced sheet steel mill, producing the most sustainable steel that will build our nation’s modern 21st-century economy,” said Leon Topalian, president and CEO of Nucor Corp. “This is a transformational project that will have a significant economic impact in Mason County and surrounding areas. We look forward to being part of the community for decade to come.”

    West Virginia is fortunate that the work of Carmichael, Justice and others helped to place the Mountain State at the top of Nucor’s list after a very competitive process.

    “What’s really inspiring about it is those other states felt like West Virginia really could not complete for this type of an enormous investment,” Carmichael said. “We had so many advantages once we started articulating those to the company, and they just felt very, very comfortable.”

    As Gov. Justice likes to say, West Virginia has been a diamond in the rough for far too long.

    Ans the long-held secret is getting out: The Mountain State can be “Wild and Wonderful,” “Almost Heaven” and “Open for Business,” to play on some of the state’s economic engine and prime it for an even brighter future.

    “Nucor’s brand new facility is going to be a key part of West Virginia’s DNA long into the future. It’s going to change lives by bringing hundreds of great-paying jobs to Mason County, and the economic ripple effects will bring even more goodness to our state,” the governor said.

    The Nucor deal is a great step toward that future. And the deal that’s been made is a great example of government leaders working for the greater good.

     

    Original article: Here

60. Steel manufacturer announces $2.7 billion mill in Mason County

    January 13, 2022 4:53 pm Comments Off on Steel manufacturer announces $2.7 billion mill in Mason County

    Nucor Corp. has selected Mason County as the location for a state-of-the-art sheet steel mill, West Virginia officials announced today.

    The announcement has been strongly rumored for a week, and lawmakers passed a bundle of incentives aimed at the company in a special session over the past few days.

    State officials say the record investment will exceed $2.7 billion, making it the largest in West Virginia history, as well as the largest single investment Nucor has ever made.

    

    Gov. Jim Justice was unable to make the announcement in person today because of a Tuesday diagnosis of covid-19. The governor is being treated at home. But Justice did praise the announcement in a prepared statement.

    “This is a landmark announcement in the history of our state,” Justice stated. “Nucor’s brand new facility is going to be a key part of West Virginia’s DNA long into the future. It’s going to change lives by bringing hundreds of great-paying jobs to Mason County, and the economic ripple effects will bring even more goodness to our state.

    “I sincerely thank Nucor for their commitment to West Virginia and for allowing us to showcase our ability to compete with other states for major manufacturing facilities like this. It took a team of people to pull this off, and I am immensely proud of all those involved.”

    ALSO: Zero-emission, all-electric school buses to be manufactured in West Virginia

    Nucor Corporation, the largest steel producer in the United States, is a Fortune 150 company based in Charlotte, North Carolina. Nucor produces steel by recycling scrap metal in electric arc furnaces, making the company North America’s largest recycler of any material.

    This steelmaking process makes Nucor one of the cleanest steel producers in the world and a leader in sustainable steel production.

    “We are incredibly excited to be building this new steel mill in West Virginia. This will be the world’s most advanced sheet steel mill producing the most sustainable steel that will build our nation’s modern 21st century economy,” said Leon Topalian, president and chief executive officer of Nucor Corporation.

    “This is a transformational project that will have a significant economic impact in Mason County and surrounding areas. We look forward to being part of the community for decades to come.”

    Upon completion, the mill is expected to create about 800 manufacturing jobs. Construction of the state-of-the art facility, which will begin in 2022, is expected to create an additional 1,000 jobs. Nucor employs 28,000 people at about 300 facilities located primarily in North America.

    The mill will have the capacity to produce up to 3 million tons of sheet steel per year for the automotive, appliance, HVAC, heavy equipment, agricultural, transportation and construction markets.

    It will also include advanced downstream processing capabilities, including a tandem cold mill, annealing capabilities, and initially two galvanizing lines. Galvanizing capabilities will include an advanced high-end automotive line with full inspection capabilities as well as a construction-grade line.

    Nucor expects the Mason County facility to be operational by 2024. The company said it looks forward to breaking ground in Mason County and becoming an active member of the  community by partnering with colleges and universities on workforce development programs, supporting veterans’ organizations and local food pantries, and working with opioid recovery programs that will provide meaningful pathways to jobs.

    

    “This is a large move. This is a large step,” state Delegate Jonathan Pinson, R-Mason, said in voting for the incentives package Tuesday.

    

    State Senator Amy Nichole Grady, R-Mason, told WMOV Radio she is excited about how the announcement will affect the county.

    “It means a lot. It means good jobs. It means a lot of investment, more investment after this company comes in,” Grady said. “This doesn’t only affect Mason County, but it affects surrounding counties. This is a big thing, not only for Mason County but West Virginia in general.”

    The company also announced it is considering building a transloading and processing center in the northern part of the state to create a broader logistics network and better serve its customers in the upper midwest and northeast regions. This facility would create additional jobs in the state.

    “This historic investment validates the hard work of West Virginia’s elected leaders to advance pro-business policies that generate investment and jobs,” stated Suzanne Clark, president and chief executive officer for the U.S. Chamber of Commerce.

    West Virginia competed against our neighboring states, especially Ohio and Pennsylvania, to attract the company. The process began in August 2021 and included site location assistance, data analysis, and relationship developments throughout the state.

    Officials said the coordinated effort of state, local, and regional organizations made West Virginia a leader during the competitive site search.

    

    “This is an enormous accomplishment for the great state of West Virginia,” said state Economic Development Secretary Mitch Carmichael. “There was a lot of hard work and dedication that went into making this a reality and there’s no doubt that West Virginia is the best place for this steel mill.”

    Bills that lawmakers adopted in special session included a bundled set of incentives for the company, including tax breaks and funding for site preparation.

    The incentives bill builds on tax breaks already in code but is fairly narrowly defined: the beneficiary has to be a manufacturer, has to be qualified as a labor-intensive industrial manufacturer, has to invest at least $2 billion for manufacturing equipment and has to hire at least 500 full-time employees.

    The qualifying company could receive tax credits valued at 50 percent of its manufacturing investment. The credit is available year after year until it is exhausted. West Virginia also would provide up to $315 million in matching funds for the company’s infrastructure investments over three phases.

     

    Originally written By Brad McElhinny for WV Metro News

61. COMMENTARY: Fewer people left WV because there were few opportunities

    January 10, 2022 5:36 pm Comments Off on COMMENTARY: Fewer people left WV because there were few opportunities

    COMMENTARY – Figures from the U.S. Census Bureau indicating that more people actually moved into West Virginia than moved out of the state were somewhat surprising, given the state’s years long overall population decline. 

    Between July 1, 2020 and July 1, 2021 West Virginia had a net migration of 2,343. More people moved into the state that out of it. The positive numbers may indicate that efforts by state officials to attract people to West Virginia are starting to pay off. However, it may more likely be an unanticipated result of the pandemic. 

    “We just see the end result, which is a net gain in in-migration. I believe this is more a result of a decline of out-migration rather than an increase of people moving in,” stated Dr. Christiadi, a Research Associate with West Virginia University’s Bureau of Business and Economic Research.

    Dr. Christiadi has extensively studied the state’s population and demographics and believes more people chose to remain in West Virginia simply because the opportunties to leave the state were limited by the economic shutdown resulting from COVID pandemic. 

    “Interstate migration is typically driven by job opportunities,” Dr. Christiadi explained during a recent appearance on Talk of the Town. 

    A report by the Congressional Research Service found that nonfarm payrolls shed 22.1 million jobs between January 2020 and April 2020. Job numbers declined to 86 percent of their pre-recession levels in February 2020. Even by July 2021, aggregate employment remained 5.4 million jobs short of the prepandemic level. 

    More West Virginians stayed put because the jobs they would have left for didn’t exist. 

    West Virginia saw a similar net gain in in-migration during the “Great Recession” from 2007 to 2009, according to Dr. Christadi. During that period of economic decline, both the number of people moving in and out of West Virginia declined but the number of people leaving the state fell much sharper than the number of people moving in, resulting in a net gain in migration. 

    Dr. Christiadi believes as the world continues to return to normal in the coming months and years, West Virginia is likely to again see net losses in its migration numbers, just as did when the economy started to rebound in the 2010s. 

    However, Christiadi was quick to point out a major variable that could have an impact on the flow of people out of West Virginia that did not exist in 2009 – remote working. 

    Many employees and employers have learned through the pandemic that it is not necessary to be at an office in the heart of a major city. Employees can just as easily and sometimes even more efficiently work from a home office, eliminating the need to move out of West Virginia to chase career opportunties. 

    State officials are promoting that very idea, and even offering financial incentives through the Ascend WV program, aimed at drawing in remote workers disenfranchised with the idea of living in major metro areas. 

    Yes, it is possible that the exodus of some of West Virginia’s best and brightest has slowed due to some of the factors that make West Virginia special, including a lower cost of living, slower pace and extensive recreational offerings. 

    However, history shows that once economy bounces back and new opportunties present themselves beyond the state’s borders, the exit will resume. 

    Original Article Published by Dave Wilson with The Voice of Morgantown – WAJR.com 

     

62. Morgantown Area Partnership Business Briefing (August 2021)

    August 25, 2021 12:00 pm Comments Off on Morgantown Area Partnership Business Briefing (August 2021)

    Morgantown Area Partnership Business Briefing (August 2021) from InnerAction Media on Vimeo.

63. Business Facilities Magazine names West Virginia among top 10 business climates in U.S.

    August 10, 2021 3:29 pm Comments Off on Business Facilities Magazine names West Virginia among top 10 business climates in U.S.

    When thinking about U.S. states most well-suited for business, particularly in the fields of new and emerging technologies, most likely turn to states like California and Texas — and the Mountain State is probably not high on that list.

    But for Business Facilities Magazine, West Virginia ranked No. 10 on its Best Business Climate list, released as part of its 17th annual rankings (Texas was No. 3, while California did not make the top 10).

    “For years, I’ve been saying that West Virginia is the best kept secret on the East Coast, but the word keeps getting out and the world is taking notice of how our state is one of the best places to live and work,” Gov. Jim Justice said of the ranking. “Not only have we improved our state’s economy and business climate, we’ve jumped to the head of the pack. I want to thank all the folks at our Commerce, Economic Development and Tourism departments for all the hard work they’ve done to make our state shine.”

    The state was one of two — the other being Arizona, ranked No. 9 — identified by the magazine as “rising stars” that saw “breakthrough results” for the 2021 ranking.

    “We are excited to receive this recognition, and it just goes to show that all of our hard work in making West Virginia the best place to do business is paying off,” said West Virginia Department of Commerce Secretary Ed Gaunch.

    Echoing the governor, West Virginia Department of Economic Development Secretary Mitch Carmichael said the recognition not only showcases the progress already made but will also help drive additional growth.

    “By diversifying our economy, we’ve laid a foundation that can support economic growth for years to come,” Carmichael said. “Site consultants are a key component of driving economic activity, and this recognition is going to expose even more companies to the great opportunities here in West Virginia.”

    The magazine also ranked Charleston at No. 3 for best business climate among metro areas with a population of less than 200,000.

    Virgin Hyperloop

    The primary driver for West Virginia’s ranking discussed at length in the magazine was Virgin Hyperloop. In October, The Virgin Group announced it had selected West Virginia to be the home of its new certification center for Hyperloop.

    The facility will be built on an 800-acre stretch of land located in Grant and Tucker counties.

    Hyperloop is a method of transportation that would move people and goods in pods through a vacuum tube at speeds exceeding 600 mph, which would enable travel from Pittsburgh to Chicago in 41 minutes or New York City to Washington, D.C. in just 30 minutes.

    Virgin Hyperloop CEO Jay Walder noted in October that the Hyperloop Certification Center’s role will be a critical step in taking the already proven technology and demonstrating to regulators and certifiers that it works and is safe for passengers.

    “West Virginia is well-positioned to provide a fully-integrated solution that advances the nationwide opportunity for hyperloop,” Walder said at the time. “The engineering and scientific talent, combined with the skilled workforce and collaborative spirit we know is critical to this project, is all right here.”

    That collaborative spirit was showcased in the myriad of people who were part of the announcement in October, representing various organizations who had a hand in helping to secure the facility.

    In addition to local and state government officials and agencies, as well as the state’s federal representatives, West Virginia and Marshall universities were involved in the process.

    WVU President Dr. E. Gordon Gee made collaboration the focal point of his part of the pitch to Hyperloop officials.

    “With only 1.8 million people, we have to collaborate — with public education, state government, business and industry,” Gee said in a news release in November. “None of us can go it alone, but together we can make a mighty force, a mighty wind, if you will.”

    And with a collaborative effort will come shared benefits, with an October projection from the WVU Bureau of Business and Economic Research predicting the new certification facility would have an economic impact of about $48 million annually.

    Biometrics

    Also mentioned by Business Facilities Magazine was the work in biometrics being done in North Central West Virginia.

    The epicenter of these efforts is the FBI Criminal Justice Information Services Division in Clarksburg. Staffed 24/7 and having more than 3,000 total employees, the work done at CJIS supports a variety of functions, from getting information to local police to combatting terrorism around the world.

    CJIS processes an average of more than 10 million transactions for the National Crime Information Center every day, and has subdivisions dedicated to background checks for firearms, sharing of data and information between law enforcement agencies and processing tips on potential threats.

    While the discussion of biometrics is generally thought of as involving fingerprints — CJIS does have more than 77 million criminal fingerprints on file used in its operations — the Biometric Technology Center also works with the Department of Defense on the storage and access of eye iris scans and palm prints.

    

    Article by:

    WV News

    From Staff Reports

    https://www.wvnews.com/news/wvnews/business-facilities-magazine-names-west-virginia-among-top-10-business-climates-in-u-s/article_8a0d0950-f6cb-11eb-bc1b-9309dbb1c595.html?utm_source=wvnews.com&utm_campaign=%2Fnewsletter%2Foptimize%2Fdaily-headlines%2F%3F-dc%3D1628420425&utm_medium=email&utm_content=headline

64. BDR News in Regards to Medical Marijuana in the State Of WV

    July 20, 2021 7:38 pm Comments Off on BDR News in Regards to Medical Marijuana in the State Of WV

    The State of West Virginia recently accepted applications for medical marijuana grow and processing facilities and 100 retail dispensaries.  As a result, Black Diamond Realty had the opportunity to tenant represent and find locations for approved medical marijuana companies throughout the state of WV. The locations ranged from Princeton to Wheeling, from Martinsburg to Huntington, and all places in between!

    BDR helped to broker 3 out of 10 growing/processing facilities and 22 of the 100 total dispensary locations.  West Virginia now has Medical Marijuana dispensaries throughout 16 cities.  We were able to broker approximately one quarter of the real estate deals for Medical Marijuana facilities in WV!

    Call us today at 304.413.4350 to talk to our team of experienced associates dedicated to help find your new location to start/relocate your business anywhere in the state and beyond!

65. Thousands have applied to be paid to move to West Virginia: Intuit executive

    April 22, 2021 12:09 pm Comments Off on Thousands have applied to be paid to move to West Virginia: Intuit executive

    Thousands have applied to be paid to move to West Virginia: Intuit executive

    Intuit Executive Chairman and Wing 2 Wing Foundation co-founder Brad D. Smith discusses paying people $12,000 to move to West Virginia and work remotely.

    Source Fox Business.

66. Named Best Retirement State In The Nation, West Virginia Is An Affordable Haven For Retirees

    April 12, 2021 1:49 pm Comments Off on Named Best Retirement State In The Nation, West Virginia Is An Affordable Haven For Retirees

    In an uncertain economy, retirees face new challenges. MoneyRates, a rate-comparison site, has been helping those looking ahead to their later years by ranking all 50 states in terms of retirement since 2011. But rather than analyzing beach vs. mountain views, which is what many people may think of when they dream of retirement, the MoneyRates analysts consider several more practical factors: things like cost of living, taxes, safety, lifestyle, and healthcare.

    MoneyRates recently released their state rankings for 2021, and topping the list (tied with Iowa) as the best state for retirement in the nation is West Virginia.

    We’re aware that these uncertain times are limiting many aspects of life. While we continue to feature destinations that make our state wonderful, please take proper precautions or add them to your bucket list to see at a later date. If you know of a local business that could use some extra support during these times, please nominate them here: onlyinyourstate.com/nominate

    

    Doug Kerr/Flickr

    

    airpix/Flickr

    Here are a few other considerations that add to West Virginia’s appeal as a good retirement option:

    

    BonneChance/iStock Collection via Getty Images Plus

    

    Mike/Flickr

    

    John Elk III/The Image Bank Collection via Getty Images

    

    Tim Pennington/iStock Collection via Getty Images Plus

    Not that you need more convincing, but just in case, here are a few photos that prove that West Virginia’s nickname of “Almost Heaven” is well-deserved. What a great place to retire!

    Posted in West Virginia March 05, 2021 by Cristy

    Original Article: https://www.onlyinyourstate.com/west-virginia/best-retirement-state-wv/

67. MHIRJ Aviation Inc. announces hiring plan for 300 available positions at Bridgeport location

    March 31, 2021 2:31 pm Comments Off on MHIRJ Aviation Inc. announces hiring plan for 300 available positions at Bridgeport location

    BRIDGEPORT, W.Va. – MHIRJ Aviation Inc. (MHIRJ) announced that it will be launching a recruitment campaign at both its Bridgeport, West Virginia, and Tucson, Arizona Service Centers hiring up to 300 Aircraft Technicians in Structures, Maintenance, and Avionics.

    

    “To cater to the growing demand in aftermarket services, we are currently expanding our service centers manpower to continue to offer world-class services to the national and international markets,” said Stephen McCoy, Head of Commercial Aircraft Service Centers. “We want to benefit from the expertise that is available to continue driving growth and investing in the future. We value our diversified workforce, who are talented, dedicated, and motivated, and are a key asset in keeping the fleets flying. Therefore, we provide them with an environment that fosters and celebrates their growth.”

    This announcement coincides with Gov. Jim Justice’s recent visit to Bridgeport to announce that additional jobs coming to Mitsubishi Heavy Industries at the North Central West Virginia Airport. Both of which are expected to boost the job market in the area.

    The release explained that MHIRJ offers the stability of a large corporation with flexible and transparent leadership, continual learning opportunities, and a healthy work-life balance with the intent to provide each employee with a sustainable career.

    Learn more about MHIRJ positions available in Bridgeport, here.

    Original Article Written by: https://www.wboy.com/news/harrison/mhirj-aviation-inc-announces-hiring-plan-for-300-available-positions-at-bridgeport-location/?es_p=13034432

     

68. West Virginia Gov. Justice makes income tax elimination plan top priority

    March 1, 2021 2:55 pm Comments Off on West Virginia Gov. Justice makes income tax elimination plan top priority

    CHARLESTON — Gov. Jim Justice hopes to make West Virginia the eighth state in the nation without a personal income tax.

    Justice outlined a strategy to phase out and eventually eliminate the state’s income tax during his 2021 State of the State Address, marking the effort as one of his major priorities for the current session of the West Virginia Legislature.

    As of 2021, seven states — Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming — do not have a state income tax. Two other states, New Hampshire and Tennessee, don’t tax earned wages.

    Justice’s plan would initially see personal income taxes cut in half for most West Virginians, while imposing a series of new taxes and tax hikes.

    Personal income taxes eventually would be eliminated for all residents, with the hope that the predicted economic development activity and influx of new residents that will occur as a result will make up for the lost revenues.

    In order to replace the $2.1 billion received annually from the personal income tax, Justice said the state should raise its consumer sales tax by 1.5%, impose taxes on the purchase of tobacco products and soda, create a “tiered” system for severance tax collections, impose taxes on some professional services, impose a wealth tax and make $25 million in budget cuts.

    Richard Auxier, senior policy associate for the Urban-Brookings Tax Policy Center, said politicians like to bring up eliminating income taxes because, on the surface, it seems like an idea that can be easily sold to the public.

    “If you ask someone, ‘Would you rather pay higher or lower taxes?’ they are going to say lower taxes,” he said.

    However, this overlooks the importance of the essential services — such as infrastructure, education and health care — typically funded by income tax revenues and ignores the actual needs of businesses and families, Auxier said.

    “That’s the other side of the ledger. That’s why we have taxes,” he said. “It’s critical to make sure that anytime you discuss this, you can’t make the question, ‘Do you want to pay higher or lower tax?’ I’m pretty sure I know the answer to that. The question for West Virginia is what do businesses in West Virginia need to thrive and what do families, to stay or draw them to West Virginia, need to thrive?”

    Those who earn less will be most impacted by raising the consumer sales tax, Auxier said.

    “Lower income people tend to buy more goods which are taxable than higher income earners, but it’s just math,” he said. “If you only have $25,000 in income, you’re spending pretty much every dollar that comes in and it’s being taxed at the same time. If you’re higher income, well you’re pocketing money, you’re saving money and you’re investing money. Your purchases simply aren’t as large a share of your income, so the tax bill for you overall goes down as a percentage of your income.”

    Kansas tried a similar strategy in 2012 that had disastrous results, Auxier said.

    “The governor at the time, Gov. [Sam] Brownback, put forth a very similar proposal. He literally said at the time, ‘I want Kansas to be an experiment.’ And his experiment failed spectacularly,” Auxier said. “The income tax cuts did not generate any economic growth. Not only that, Kansas fell behind its neighboring states when it cut its taxes. It didn’t just fail to reach its very high goals of booming economic growth, it fell back on its butt.”

    The experiment resulted in deep deficits in Kansas’s budget, Auxier said.

    “Therefore that exacerbated its ability to fund its schools, fund its roads and it fell into this terrible problem,” he said.

    States that have managed to successfully eliminate income tax — states like Texas and Florida — have a substantially higher population then West Virginia and have very different economies, Auxier said.

    “You have to think about what is right for West Virginia — given its economic mix, given its major businesses, given the challenges that families face, given the size of its cities, the size of its local governments,” he said. “Simply pointing at a state that you think is a success and saying that it must be the income tax, that’s myopic at the least.”

    West Virginia lawmakers are waiting for more details of the governor’s tax plan to be released, but many members of the GOP caucus have already signaled their support for the proposal.

    Senate President Craig Blair, R-Berkeley, said West Virginia must “take bold steps to secure our future.”

    “We have been committed over the last four years to improving our state’s business climate, reforming our education system and promoting all of the benefits our state has to offer,” he said. “We now must take the next step, and that step is removing our state’s personal income tax.”

    House Speaker Roger Hanshaw, R-Clay, said he looks forward to working with lawmakers to come up with a more concrete plan to accomplish Justice’s goal.

    “The task will be putting the right plan together,” he said. “There is significant support in the House to eliminate the income tax, but it will of course depend on what the plan looks like. We’re not there yet on a plan, but we’re working toward it every day.”

    Del. Clay Riley, R-Harrison, said he would support a plan that results in net tax relief for state residents.

    “I am always in favor of putting money back in West Virginians’ pockets. It’s not the government’s money; it’s the people who are out there earning it,” he said. “I think it’s time that we have a good, honest debate about how we can do that successfully.”

    Justice’s plan is a “good starting point” for lawmakers, Riley said.

    “You always have someplace to start to have the discussion,” he said. “So I expect you’re going to see some good healthy discussion over the next 60 days. I think there’s a lot of great of ideas. And I think that as we work through the committee process, we’ll see something come out that’s good for the state of West Virginia.”

    Del. Ben Queen, R-Harrison, said it’s typical for the governor to drop “bomb”-like ideas during his State of the State address.

    “But not normally a billion dollar bomb. That’s hard to get used to here in the Legislature, especially when our general budget is only $4.5 billion,” he said. “But I think we’re all in favor of removing the personal income tax; it’s just how do we get there? Can we afford it? And in what manner do we do so?”

    He also expects the tax package to change and evolve as it works itself through the committee process, Queen said.

    “What I think we’re trying to weigh the options of is, how do we offset it?” he said. “We were cutting the budget $450 million just four years ago. Now, we do have surpluses, don’t get me wrong, but can we afford a $1 billion plan in a time where we’re kind of uncertain about what the future looks like?”

    There have been numerous previous attempts to remove the state’s personal income tax, Queen said.

    “We’ve all seen many different forms and plans to remove the personal income tax, and I think that’s the best one we’ve seen so far,” he said. “At the end of the day, I think you’re going to see a lot of discussion about the personal income tax. … If we can afford it, I think we’re all in. But making sure we can afford it is the uphill battle right now.”

    Del. Joey Garcia, D-Marion, said he fears the tax plan will overshadow other important issues during this year’s session.

    “A number of things that are being put on the table to try and pay for even a half repeal of the income tax, a lot of things have been discussed before and a lot of them have failed before with Republicans and Democrats,” he said. “So for me, there’s a lot of concern about that proposal and that it leaves a lot of the priorities that we should be looking at without the adequate funding that they need.”

    Although Republicans are in the majority in both chambers and, in theory, have the numbers to pass just about any legislation, some GOP members have expressed doubts about the tax plan, Garcia said.

    “I’m not so certain that they have the numbers to pass that, when it comes to their caucus and how they are split,” he said. “I don’t know that for sure and I haven’t talked to all the Republicans, but I’ve talked to a number of them that have reservations.”

    Written By: Senior Staff Writer Charles Young From the State Journal

69. West Virginia Commerce Dept., Development Office continues economic development hot streak

    February 16, 2021 3:21 pm Comments Off on West Virginia Commerce Dept., Development Office continues economic development hot streak

    CHARLESTON — Over the past year, officials with the West Virginia Commerce Department and the West Virginia Development Office have continued to land one big fish after the next.

    From a wind farm planned for a former coal mine site to a test center for an emerging mode of transportation, those responsible for the state’s economic development have brought in projects with the promise of thousands of new jobs and million of dollars in future taxes.

    “The announcements kind of speak for themselves,” said Commerce Secretary Ed Gaunch. “I would say that we’re really on a record pace. From my standpoint, I think you’ll see more of this going forward.”

    

    

    Mike Graney, deputy commerce secretary and former executive director of the West Virginia Development Office, also believes the best is yet to come.

    “We’re just getting started,” he said. “This diversification effort, this intentional effort are really moving the needle forward.”

    Other notable recent victories include the expansion of the workforce at the Mitsubishi Heavy Industries location in Bridgeport; supply company Klöckner Pentaplast has chosen its production facility in Beaver for its production expansion; and Gruppo Fanti, an Italian metal packaging manufacturing company, has announced plans to open a plant in Weirton.

    The staff of the Commerce Department and the Development Office are due much of the credit for the recent successes, Gaunch said.

    “We’ve been very intentional, we’ve been strategic, and we’ve been very results-oriented in what we’ve asked our people to do,” he said.

    The two agencies have forged meaningful working partnerships with other state agencies, Gaunch said.

    “K though 12 education, the West Virginia Higher Education Policy Commission, the Department of Transportation, the Department of Environmental Protection and even to some degree the Department of Heath and Human Resources,” he said. “We’ve learned to work together.”

    The Commerce Department and the Development Office also adopted a “regionalized” approach to economic development, one that highlights the existing strengths and resources available in the different parts of the state, Gaunch said.

    “When people learn that they can do much more together as a region than they can as an individual city or town or county, then much better things happen,” he said.

    The COVID-19 pandemic has obviously changed the way the business of economic development is conducted, but it has also presented unique opportunities, Graney said.

    “Traditionally we had attended trade shows and been on missions and visited companies at their headquarters, but we haven’t been able to do that in 10 months and probably won’t be able to do so for the foreseeable future,” he said.

    Focus has shifted online, and efforts have been thrown behind an aggressive digital marketing strategy, Graney said.

    “It’s curious that we were able to stand up this effort in the face of … totally changing our direction and, frankly, in many ways making us that much more attractive,” he said.

    There are several initiatives the two agencies would like to see lawmakers and the governor support in order to further promote economic development efforts in the state, Graney said.

    “Because every one of our existing businesses and every one of our prospective acquisition candidates is concerned about workforce, we would like to restore the funding to the Governor’s Guaranteed Workforce effort that was taken away several administrations ago during some lean years,” Graney said.

    The program provided new or expanding companies training funds and technical assistance to support effective employee training strategies.

    “When we’re making an offer to a new business, they are definitely very interested in that, in particular, if they are represented by a site consultant,” Graney said. “Frankly, every state that we compete against, every state in the union has something very similar to this.”

    Another item on the two agencies’ economic development wish list is the creation of a “closing fund,” which would give the state funds to provide final incentives to close a deal, Graney said.

    “Many of the states we compete against have a closing fund that allows for that last-minute offer that potentially lures you into locating in West Virginia,” he said. “It may be that another state has a bigger checkbook than we do, and our current methodology for doing that is complicated and very legal fee intensive. We’d like to see a little bit more flexibility there.”

    The state also needs to pursue strategies focused on developing build-ready sites, Graney said.

    “We still have some challenges with having shovel-ready, buildable sites in the state of West Virginia,” he said. “Often, unfortunately we’re just passed over because we don’t have a site that’s ready to build on.”

    Although he agreed that most states tend to have deeper pockets than West Virginia, no one can match its citizens’ work ethic, Gaunch said.

    “Nobody out-hustles us, and nobody out-works us,” he said. “We think that we have the advantage there.”

    Written by: Charles Young SENIOR STAFF WRITER at The State Journal 

70. West Virginia Has Everyone’s Attention. What Does It Really Need?

    February 10, 2021 2:27 pm Comments Off on West Virginia Has Everyone’s Attention. What Does It Really Need?

    With the right federal response, it could become a model of renewal for other places around the country that prosperity has left behind.

    The wisecrack about West Virginia is that it can now have whatever it wants: fancy new highways, a federal installation or two, maybe a few extra grand per capita in stimulus checks.

    Joe Manchin, the state’s senior senator and a centrist Democrat, has swiftly become one of the most powerful politicians in Washington, a critical swing vote in an evenly divided Senate. By himself, he can shoot down filibuster reform, shape the economic recovery or moderate liberal hopes for the minimum wage. So just give the man what he wants, Democrats laugh uneasily.

    But there is a deeper possibility in this unusual alignment of one senator, one struggling state and one suddenly attentive capital.

    “The joke is that we’re going to have a futuristic West Virginia,” said Kelly Allen, the executive director of the West Virginia Center on Budget and Policy. “The honest answer of it, from our perspective, is that West Virginia and Appalachia deserve an outsized piece of any federal recovery policy.”

    That’s because the region’s decades-long role in powering the nation through coal, she said, came at enormous cost to the health of local residents, their environment and their economy. A serious federal response to that history could both bolster the state and be a model for other parts of the country that have been left behind.

    West Virginia ranks among the most distressed states in child poverty rates and median incomes, in population loss and in working-age adults out of the labor force. Economists and local community leaders agree that the federal government has done a poor job helping to lift up such places. Maybe West Virginia, with all its newfound leverage, can force Washington to do better.

    The state’s residents have ideas. They dream of broadband, vast brownfield cleanup efforts, greater aid to community lenders who operate where traditional banks won’t, more resources for high-quality housing and health clinics — investment on a scale that would return to the region all the wealth that was taken out of it by resource extraction.

    

    “What we see is a part of the country that has been neglected by the change of an industry, and nothing came behind it,” said Jim King, the president and chief executive of Fahe, a network of more than 50 organizations working to make Appalachia more prosperous. “And it seemed that no one noticed or cared outside of our region.”

    Within West Virginia, a number of organizations short of money are already operating with what Brandon Dennison, an eighth-generation resident, described as a “righteous anger” about rebuilding the state.

    “On a spiritual level, in my bones, I know this place, it’s good, I know it has a lot to offer,” said Mr. Dennison, who founded Coalfield Development, an organization that provides work force training and jobs in construction, tourism and solar power, across the southern part of the state hurt most by coal’s decline. “And I know it’s not been able to offer all that it can because of various barriers.”

    Many of those barriers went up generations ago, said William Hal Gorby, a historian at West Virginia University. In the 1870s, the state established a system for legally separating land ownership from mineral rights. This meant that families who owned land seldom profited from the coal underneath, which was mined by companies based out of state and used to power industrialization elsewhere. The coal industry also amassed political power early in the 20th century faster than anyone could mount a campaign to tax it. So to this day, West Virginia doesn’t have the kind of longstanding permanent fund that enables some other states to return resource wealth to their residents.

    “The big theme of West Virginia historically is our wealth and our income is not here, it’s taken somewhere else,” said Sean O’Leary, a senior policy analyst with the West Virginia Center on Budget and Policy. “That leaves us with very little to grow and invest and work on ourselves.”

    And, indeed, much of the country prospered as West Virginia remained poor. Changing that picture now may require rethinking what it means for this part of the country to get its fair share from Washington.

    

    Resources ‘tend to flow to places of density’

    Many of the dynamics today in West Virginia would be familiar in old industrial towns in the Northeast, or in rural communities across the Midwest. The population is declining as young residents move away. So the tax base and ability to fund services are also shrinking. That makes it hard to support businesses, to prop up the housing market, to reinvent the economy.

    This is a relatively new pattern: that broad parts of the country are falling further behind, as other places grow more prosperous. For much of the 20th century, poorer parts of the country were catching up in wages. That trend ended around 1980, according to economists, when globalization and knowledge work began to reorder the economy, with tremendously unequal consequences depending on where you live.

    Today, however, no one in Washington is responsible for confronting that pattern, said John Lettieri, the president of the Economic Innovation Group, a Washington think tank that has proposed a new cabinet-level office to do that. Economists have only recently paid more attention to what they call spatial inequality, or the widening economic gaps between places. And policymakers are even further behind.

    “We’re never going to have equal growth in the country geographically,” Mr. Lettieri said. “But we can’t tolerate a situation where a significant share of the country is actually losing ground as the national economy grows.”

    In Washington, the problem isn’t simply that the federal government lacks a comprehensive strategy for the state and others like it; many existing federal programs weren’t designed for these places. To qualify for federal housing aid, families must earn below a given share of the local median income. But entire counties in Appalachia have median incomes below the poverty line, leaving many poor families ineligible.

    Federal grant programs often require local matching dollars — money the poorest communities don’t have. Some health programs devote extra resources to rural communities, but misclassify which ones are “rural.” The federal government incentivizes banks to invest in struggling neighborhoods. But those incentives don’t work well in rural communities with no local bank branches. The government also has an array of tax credit programs to support development. But they work best with large-scale urban projects, not small rural ones.

    “Scale is really the enemy of rural development,” said Dave Clark, the executive director of Woodlands Development Group and its partnering community lender, which have helped restore historical properties in small West Virginia downtowns. “Nobody’s getting rich off of these projects. We can structure them in such a way that people won’t lose money. But they’re not going to be making a lot of money off these projects with the current tools we have in place.”

    The economics of redevelopment in the state are particularly tricky given that the state government has limited resources, local governments have meager tax revenue, and philanthropic dollars are scarce (those out-of-state coal companies didn’t leave behind a lot of local family foundations).

    “Resources — all resources — tend to flow to places of density,” said Jen Giovannitti, president of the Claude Worthington Benedum Foundation, the largest donor in West Virginia of any private foundation. “I’m talking about philanthropic density, population density, the institutional density. All of that money tends to cluster there.”

    That leaves the federal government as an essential actor, with Senator Manchin in a rare position, he has acknowledged, where “one vote truly changes everything.”

    His predecessor, Robert C. Byrd, joked during his 51-year Senate career that he would be a billion-dollar industry for the state unto himself (and, indeed, he was).

    What is potentially different for Senator Manchin today is that his influence is rising as recognition of spatial inequality is, too — and that this comes as the economy is in the midst of another jolt.

    If more workers can live anywhere, why not West Virginia?

    The pandemic, for all its pain, has hastened a number of trends that could aid West Virginia. It has driven a shift toward telehealth, a vital tool in rural communities. It has pushed more consumers into outdoor recreation, a market West Virginia’s scenic gorges and mountain trails are primed to capture. It has boosted political will in the state to prioritize broadband. And the pandemic has sped up a move toward remote work to parts of the country with a more affordable cost of living.

    

    This last trend, which is tied to the other three, could have broad consequences for how states think about economic development. If more workers can live anywhere, states don’t have to throw tax breaks at companies to attract them. They can try to attract workers directly.

    “Making a place a good place to live becomes much more important now,” said Adam Ozimek, the chief economist at the freelance platform Upwork. “That’s also a much healthier type of competition than who’s going to give the Bass Pro outlet the biggest tax cut.”

    That idea reframes the major infrastructure investments Senator Manchin and President Biden have proposed. Broadband, above all, is an essential precondition to remote work. Well-maintained roads, new parks and other public amenities also enhance quality of life. And major investments in environmental cleanup — because the environment is central to West Virginia’s allure — become an economic development strategy, too.

    Until now, many organizations in West Virginia lament that the state has focused too heavily on luring outside employers, rather than building up the state’s own assets.

    “If we’re going to think big about this, do we want any job at any price?” said Karen Jacobson, who leads the housing authority in Randolph County. “From any employer who’s going to take the deal now and leave 10 years from now?”

    An effort to leverage remote work could also help the state keep more of its college graduates. William Franko, a political scientist at West Virginia University, said many of his students who leave wish they didn’t have to.

    “My sense is they would love to stay in the state after they graduate,” he said. “Most West Virginians love the state. But I think they look at the economic landscape, and they say, ‘I don’t see how I can make it work.’”

    Mr. Lettieri and Mr. Ozimek have also proposed that the federal government do more to stem population loss and its harms, offering “heartland visas” to skilled immigrants who commit to settling in communities that have been shrinking. That idea is the kind of place-based program that recognizes what’s different about Southern West Virginia than, say, North Carolina’s Research Triangle three hours away.

    All of this, locals said, would have to work alongside investments in residents who are unlikely to have remote jobs, but who could build the infrastructure, or run the tourism businesses, or remediate the land. After coal, many are leery of relying on any one fix-it-all idea, whether that’s tourism or remote work. What they’re asking for is something more comprehensive, something that will take years to grow.

    “We have generational problems,” said Mr. Dennison, the head of Coalfield Development. “And they’re not going to be solved in one appropriations cycle, or even two or three.”

     

    Article by: Emily Badger, The New York Times

71. Agreement between UK company DST and Blue Rock Manufacturing to bring new manufacturing facility, up to 1,000 new jobs to West Virginia

    January 11, 2021 6:56 pm Comments Off on Agreement between UK company DST and Blue Rock Manufacturing to bring new manufacturing facility, up to 1,000 new jobs to West Virginia

    Jim Justice announced today that DST Innovations, a UK technology company headquartered in Wales, has chosen West Virginia as the home of its new American manufacturing base; agreeing on a contract with West Virginia-based company Blue Rock Manufacturing to establish a new facility for the development of its new energy cells.

    The new facility will be the forefront of green technology, using existing organic material such as coal to create new clean energy storage solutions. The development is expected to create up to 1,000 new jobs in the manufacturing and technology sectors. The manufacturing base will be located in Morgantown, with a Phase 2 expansion planned for the Southern Coalfields region of the state.

    “This is a gigantic announcement for West Virginia and I could not be happier,” Gov. Justice said. “It’s wonderful to be able to announce a new international partnership for business in West Virginia. The development is a great example of the special relationship we have with the UK and, now, specifically, with Wales.

    “West Virginia and Wales are both proud mining communities,” Gov. Justice continued. “They share their heritage and appreciation for the natural resources, and this special partnership will see us both at the forefront of new energy.”

    When successfully completed, the production facility will use the latest material science techniques, combining them with cutting-edge manufacturing knowledge to turn West Virginia coal and other organic materials into clean, sustainable energy storage products. The facility aims to produce large scale, printed energy storage systems and clean, high-grade electronic inks and coatings for use in battery and capacitor products worldwide.

    “We want, in West Virginia, to chase every opportunity we have to bring goodness and jobs to West Virginia,” Gov. Justice said. “This is another great example of how all the work that we’re doing within the state of West Virginia makes these things become a reality, but these things only become a reality with the goodness of the people on the other side of the equation. These people from Wales probably looked at many places within the United States, but they have chosen West Virginia, and I could never be more thankful.”

    The pioneering facility in West Virginia will be integral to a new, internationally-funded $1.4 billion natural energy project: Dragon Energy Island, located in Swansea, South Wales. Products created in West Virginia will enable the efficient storage of energy generated at the groundbreaking project, harnessing the power of nature.A DST spokesperson said “We want to thank Governor Justice and his team for the warm welcome we have received. We are excited to create our American home in West Virginia, and truly believe, together, we can turn West Virginia coal into the clean resource of the future. The technology that will be used in Swansea for the Dragon Energy Island project can be utilized throughout the world, and we welcome the opportunity to aid governments achieve their sustainability and green ambitions.”

    

    Rob Stewart, Leader of Swansea Council said “Swansea Bay offers an unprecedented opportunity to deliver the world’s first truly integrated tidal energy project. This project has the potential to spur a new industry not just for Swansea but for Wales and the UK. The impacts on employment and our local economy are set to be significant and perfectly timed as we address the post-COVID economy.”

    

    “We remain 100 percent committed to seeing the project delivered in Swansea and are grateful for all of the efforts made by DST to bring together such a strong consortium of organizations with a proven track record of success,” Stewart added.

    “We’re delighted to be making this announcement today with the Governor, who has been a great support and aide in making this project become a reality,” said Mary Anne Ketelsen of Blue Rock Manufacturing. “We will be so pleased to add so many jobs. We need them, and I can’t think of a better place to bring jobs than West Virginia.”

    

    Article by Office of the Governor, Jim Justice. Click HERE to see from source. 

72. Coming Soon: The Bridge, a 156,000 SF recreational facility in Bridgeport, WV

    December 28, 2020 12:57 pm Comments Off on Coming Soon: The Bridge, a 156,000 SF recreational facility in Bridgeport, WV

    The Bridge is the newest destination for all things sports, recreation, and wellness.

    With 156,000 square feet of courts, turf, aquatics, fitness, and more, The Bridge is the most comprehensive venue in West Virginia and beyond. When you’re competing at The Bridge, you’re playing at the region’s top destination for tournaments, championships, and competitions. The Bridge Sports Complex has something for everyone. From exceptional sports programming to exciting family entertainment, this state-of-the-art facility is the premier sports and recreation destination for North Central West Virginia.

     

    What’s Inside

    • 1 Indoor Turf Field
    • 6 Hardwood Basketball Courts
    • 6 Volleyball Courts
    • 1 Competition Pool and 1 Warmup Pool
    • Fitness Center & Group Training Rooms
    • Elevated Running Track
    • Indoor Climbing Area
    • Flexible Meeting and Event Spaces
    • Cafe and Concessions

     

    For questions, Click Here. 

73. Massive Project Moving Forward in Bridgeport Could See Annual Economic Impact of More than $1 Billion

    November 16, 2020 12:47 pm Comments Off on Massive Project Moving Forward in Bridgeport Could See Annual Economic Impact of More than $1 Billion

    Three years ago, Harrison County Commissioners and Benedum Airport Authority members Ron Watson and David Hinkle got with fellow Authority member and Bridgeport Mayor Andy Lang to form a special projects committee at the North Central West Virginia Airport.

    The committee expanded to include NCWV Airport Director Rick Rock, Deputy Director Shawn Long, Mid-Atlantic Aerospace Complex Director Tracy Miller, and Amy Wilson of the Harrison County Economic Development Corporation. The group, Lang said recently, meets about every week.

    “This coming October it will be three years,” Lang told members of the Bridgeport Development Authority last week.

    Unlike many committees, this committee is not only making noise, but it is making serious financial noise with the first leg of a project that has just got started. Lang said that entire buildout of the much-discussed airport terminal project, which involves much more than just a new airport terminal building, is being looked at as having a potential 10-figure impact.

    “We’re at $1.2 billion right now of economic impact,” said Lang on the status of the airport’s aerospace impact now. “The whole goal … it doubles what’s already on the airport. That’s based on square footage.”

    The estimate of having an additional $1 billion-plus impact does not include other property that could be acquired and developed, which will be discussed below. It does include land many that follow the airport know has been targeted for development and that this committee has zeroed in on.

    “We wanted to figure out a way to utilize the property lays between (State Route) 131 and (State Route) 279 and Route 50 back to Bridgeport,” said Lang on the property that is mainly owned by the airport and within the city limits.

    The driving factor is that formerly Bombardiere, now Mitsubishi, is looking to expand their massive operations at the airport. To provide them space for future growth, the existing terminal building would need to be moved, which would also allow for other issues with the current terminal to be eliminated. That led to the committee looking at how the land referenced above could be utilized.

    “(Moving the terminal) has nothing to do with the building, it has more to do with tarmac space, security and so many things we’ve learned over the last few years,” said Lang, who said parking is also a problem. “… There are a whole lot of issues that make it best to get that terminal out of there.”

    That led them back to something that had been started on and never finished. The moving of a “mountain,” said Lang, on property that abuts Route 279. The idea has long been to remove the mountain, use fill to bring up lower elevations, and create flat land for development.

    “(The flat land made accessible to the runway) is what brings value to our area,” said Lang.

    The first part of that efforts, with a near $15 million price tag, is expected to get started before the end of the year. The earthmoving is funded through a $10 million grant awarded to the airport by Gov. Jim Justice and the remainder is being covered by the airport and the county commissions of Harrison and Marion Counties, the owners of the airport.

    Once finished, Lang said there should be nearly 100 flat and contiguous acres. The land will be connected to the runway.

    “The terminal building will take up about 18 of those acres and we’ll be left with about 80 acres that can be developed, hopefully for aerospace,” said Lang.

    The $15 million only covers the first phase. Two additional phases will take place will include the concrete work needed for the airport aprons, the lighting and other airport essentials that the Airport Authority is hopeful will receive FAA funding.

    The final phase is the construction of the terminal. The parking area, which along with the terminal will be designed for expansion, will also be part of the final phase.

    Throughout the process, all infrastructure such as water and sewage will be done to allow the airport to go easily into surrounding properties. If everything goes as planned, private property surrounding the airport could be purchased as those owners have indicated they are willing to sell their property. And other large pieces of property are owned by the Harrison County Commission, including the former Thrasher farm.

    There is no set timetable for the completion of the terminal, but the process is well under way. The Development Authority was impressed with Lang’s presentation.

    “They’ve done a great job up there to aggressively keep moving forward,” said John Stogran, the president of the Development Authority.

    Read article from source HERE

    Posted on August 31, 2020

74. Valley HealthCare breaks ground on $7 million expansion

    October 2, 2020 7:27 pm Comments Off on Valley HealthCare breaks ground on $7 million expansion

    Valley HealthCare System announced plans for a $7 million, three-building expansion that will provide additional beds for its addiction treatment programs it has been running out of Fairmont for the last 35 years.

    Gerry Schmidt, Valley’s chief operations officer, said there has been a steady increase in demand for detoxification services.

    “Our programs are full right now,” he said. “We got an expansion grant from the state of West Virginia and we’re funding the rest of the project ourselves.” Additional funding from a USDA loan, Schmidt said.

    The expansion – designed by The Thrasher Group of Bridgeport – will give Valley HealthCare 80 additional beds, split evenly between men and women. An additional, shared facility will provide 16 family beds, as well as designated treatment rooms, central dining, offices, multi-purpose activity areas and exercise space.

    Valley has plans in the future for an extended child-care program that will be designed to house women and their children, Schmidt said.

    “We look forward this expansion of vital addiction treatment services in a time when we are seeing a steady increase in the demand for detox, residential and extended-care treatment,” Schmidt said.

    “We serve the entire state of West Virginia,” he added.

    Construction of the expansion project on Crosswinds Drive is slated for completion in August 2021.

    “We have partnered with Valley for more than 25 years, working together to improve the community around us,” said Craig Baker, Thrasher’s Building’s and Facilities Marketing Director in a statement. “We appreciate the work they do for our state and for the opportunity to play a small role in it.”

     

    Article By: Suzanne Elliott, The Dominion Post

75. County Hopes to Fund I-79 Project

    September 3, 2020 11:41 am Comments Off on County Hopes to Fund I-79 Project

    Glenn Adrian proposed interchange idea to commission. If you build it, they will come.

    Sure, the line originated with disembodied voices and ghosts playing baseball in a cornfield, but the principle is a bit broader. For example, you could say if you build the proper infrastructure, investment, development, jobs and tax dollars will come. That’s precisely what Glenn Adrian is saying. Adrian, with Enrout Properties, is the owner of the Morgantown Industrial Park.

    Adrian recently told the Monongalia County Commission and Delegate Mike Caputo, D-Marion, that after two years of back and forth with the West Virginia Department of Transportation and the governor’s office, he believes a deal is imminent that will allow various feasibility studies regarding a new I-79 interchange at the Harmony Grove/River Road overpass to begin.

    He said building the interchange would not only make the park the only industrial site in West Virginia with barge, rail and interstate access, it would also remove the heavy flow of truck traffic that is funneled through Westover to access the 500-acre park via Dupont Road. It would also make the park far more attractive to potential investors.

    Commission President Ed Hawkins called the proposal put forward by one of those potential investors “mind boggling.”

    “We’re working very diligently with a significant clean manufacturer that wants to be here in the county … We’re talking about a 300,000 to 600,000 square-foot facility, up to 250 jobs and a lot synergies with WVU and the ag sciences and engineering departments,” Adrian said, adding, “This company, at its peak, will probably have 60 to 70 trucks a day. They’re a 24/7 operator. They cannot go here  unless this becomes a reality.”

    In order to help make it a reality, park ownership is working with the state on the creation of a second industrial park TIF district, the increment from which would expand water, sewer and road infrastructure to undeveloped portions of the park and reimburse the state for the estimated $20-$30 million interchange construction.

    Both Adrian and the commission point to the $22 million construction of I-79 Exit 153 as proof that such an arrangement can work.

    “The question is what’s the cost to the taxpayers, and in Mon County we don’t like running to Charleston and saying ‘We have this problem, what are you going to do for us?’ We try to bring solutions,” Commissioner Sean Sikora said. “That’s what happened with the first interchange. We found a solution to pay for it, and within a couple years it was paid off. It didn’t cost the taxpayers. It was all paid for from the increments out of the district. Same thing with this.”

    The original industrial park TIF district was created in 2008. Adrian said the tax value of the park has gone from $26 million when Enrout purchased it, to between $45-$50 million. Add in the hundreds of miles of pipeline staged on the site for the now abandoned Atlantic Coast Pipeline project, that value jumps to approximately $90 million.

    Sikora referenced a WVU economic study from 2019 that indicated the park as it’s currently configured has had a $1.1 billion impact on the state’s economy. Adrian said the interchange and park expansion would double that number over the next 10 years, according to projections.

    Before any of that becomes reality, however, it must be determined if the interchange project makes sense.

    “Interchanges like this are very arduous, A lot of studies have to go into it, which we’re going to pay for, but we’re very close to signing that collaboration agreement, Adrian said, adding, “We can draw all the pretty pictures we want, but the studies will determine the feasibility of this interchange.”

    Article by Ben Conley, The Dominion Post   |  August 30, 2020

76. April Newsletter: BDR is OPEN and Ready to Help

    April 7, 2020 1:34 pm Comments Off on April Newsletter: BDR is OPEN and Ready to Help

    View our April Newsletter: BDR is OPEN and Ready to Help

    Click Here!

77. Bridgeport, WV’s, White Oaks Continues Serving as Place of Business and Continued Growth

    April 1, 2020 1:00 pm Comments Off on Bridgeport, WV’s, White Oaks Continues Serving as Place of Business and Continued Growth

    Bridgeport’s White Oaks development has seen much growth since its beginnings in 2008, with even more progress planned for the future this year. Austin Thrasher, White Oaks project manager, said the three-phase development project began right at the beginning of a recession. “It was almost a terrible time to start the development. We had a few years of slow (progression) but things started to grow and increase. I’d say the past five years has been the best growth we’ve had,” he said.

    Thrasher said the thought behind the development was to create a place to have support services for the then-new United Hospital Center, the expanding FBI and oil and gas services. From that it has grown into much more, he said. The White Oaks planned business community comprises 470 acres that are home to offices, FBI support services, medical support services, oil and gas businesses, national retailers, restaurants and vital amenities.

    Located at the intersection of Interstate 79 and W.Va. Route 279, the busy corridor sees an estimated average of 48,500 vehicles per day. It is adjacent to the $350 million United Hospital Center, at the doorstep of the FBI’s CJIS Division and the Biometric Center of Excellence. White Oaks is also located in the heart of Marcellus Shale play.

    Thrasher said White Oaks is divided into three separate phases, with work continuing to progress in all three. Within the last year, some of the development’s newest additions include the Clear Mountain Bank, Minard’s Spaghetti Inn Express and Dyer Group. This time last year, Thrasher said construction was still ongoing for the Clear Mountain Bank as well as the Dyer Group facility. Minard’s now occupies the area in Retail Village Building 1 that formally housed Hermosilla’s Deli.

    Nick Dyer, insurance producer and director of bonding, said the move from their Clarksburg location to the White Oaks Development was seamless. “It’s been a fantastic transition for us. Everything has gone very smoothly and all of our neighbors here at the White Oaks development have been very gracious as well as welcoming us as new members of the community here,” he said.

    The Dyer Group, previously located in Clarksburg, is one of Harrison County’s oldest businesses was originally founded as P.M. Long and Son Inc. The company has been in business since 1896 and is a sixth-generation, family-owned operation. Being at the new location, Dyer said, can aid in fostering future growth. “I think the location and accessibility to the interstate makes this a great location for our clientele and our staff as we transition into growing our agency,” he said. Dyer expressed the development was an asset to the entire region of North Central West Virginia and is happy “we can be a small part of it.”

    Minard’s Spaghetti Inn, a popular Harrison County staple for 83 years, held its grand opening in November, and owner Joe Minard expressed how convenient it was for customers in Bridgeport because they would no longer have to wade through lengthy traffic to visit the Clarksburg location. General Manager Heather Gillespie said the restaurant has a primary convenience factor, providing meals in a to-go container whether customers eat in or take out, making it more convenient for those on a lunch break or in a hurry.

    After a soft opening two weeks ago, the new restaurant is starting to see some of its Bridgeport patrons more often than previously, Gillespie said. Some of its menu items include a hot Italian sub sandwich that is normally only available at the Clarksburg restaurant on special as well as soups like minestrone, Italian wedding soup, cheddar broccoli, potato, lobster bisque, pasta fagioli, and, starting next week, it also will sell vegetable beef soup and chili.

    Thrasher said there is work continuing throughout the year. There is one bay that remains vacant in the retail section of the development and a national fast food chain, which Thrasher did not name at this time, will find a new home in the lot in front of the Huntington Bank, with construction most likely beginning this year. Though nothing is solidified, Thrasher said there is potential for residential development behind the Harmony Assisted Living Facility, which also opened its doors this year.

    In addition, The Thrasher Group built a 4.5-acre pad behind the Freedom Kia dealership located right off of the Saltwell Exit and he said plans are in the works to utilize it for future developments. “If things work out, hopefully we will see some stuff come up before too long,” he said. Thrasher said the impact the development has in the region remains large with other surrounding factors in the area that help facilitate its growth.

    “You kind of look for a nice place when you invest in a big building like this. If you’re (The Thrasher Group) and you are going to pay for a building of this size, you’re going to put it in a nice place that’s going to hold its value so we allow bigger companies like that to have place right here where people can come to work. I think it’s got a lot of value there,” Thrasher said.

    The hotels, restaurants and other aspects of the development are also essential, he said. “It’s also a really nice benefit having the airport over there with their runway and having the ability to have things land there, seeing them expand and opening up options. I think it really is going to open us up to a bigger area and close things down in terms of travel for us,” he said.

    Bridgeport Community Development Director Andrea Kerr said White Oaks from the very beginning has been aggressive and successful in developing their properties, having “done a tremendous job.” “We are excited to hear about the possibility of future development and hope to continue our working relationship to grow not only Bridgeport but North Central West Virginia,” he said.

     

    Article By Steven Baublitz, The State Journal 

78. Monongalia County Starts to see Fruits of its Labor, Continues to Grow

    March 28, 2020 1:06 pm Comments Off on Monongalia County Starts to see Fruits of its Labor, Continues to Grow

    Monongalia County is, according to area officials, in a state of economic development that residents are finally going to be able to see with their own eyes. Many of the projects that have been in the works for years are finally coming to reality and will make an impact on even further growth, according to Monongalia County Commissioner Tom Bloom.

    “I think the biggest issue the public is going to see will be the development of buildings on the WestRidge area,” adding that this month visual progress will be made on Bass Pro Shops and Menards home improvement store in the business and retail park. “In the past, it’s always been land moving … now they’re going to see that next step and how they’re going to be able to benefit.”

    WestRidge is a mixed-use development in Morgantown that will also be home to MVB Bank and the Steptoe & Johnson law firm, as well as 160,000 square feet of space for soft good retailers of nationally recognized brands and 60,000 square feet of retail space specifically for local businesses, according to previous reports.

    “We have several announcements coming about businesses coming there,” Bloom said. Money coming to and staying in Monongalia County is a major concern and focus for the commission, according to Bloom. “We will fight everyday to make sure our funds stay here and not get lost in Charleston,” Bloom said, adding that he hopes residents see more expansive ways to shop locally and experience expanded services in their home county as tangible results of all the focus on growth and development.

    One thing many residents might not immediately consider when it comes to economic growth is the 2020 Census. “People do not understand that’s how we get our federal funds,” Bloom said. “As important as Bass Pro and Menards is — the census and filling out the form is just as important, and we need to get many more people than in the past.”

    Official Census Bureau forms began being distributed in mid-March, and households will have the option to respond by mail, by phone or online, according the Monongalia County government website.

    “The 2020 Census will help determine how hundreds of billions of dollars in federal funding flow into communities every year for the next decade. In West Virginia, that amounts to more than $5 billion in federal funding for things like Medicaid, SNAP, highway planning and construction, the National School Lunch Program and much more! That funding shapes many different aspects of every community, no matter the size, no matter the location,” according to the website.

    Bloom advises residents to take their participation seriously as it makes a substantial impact on our community and our ability to grow and change based on what people need. As far as building new structures, it’s not all localized to just one point in the county. Advancements in the area of Mylan Park and even more potential growth in the Morgantown Municipal Airport area are also coming up the pike.

    “The growth in Mylan Park with the 4-H building, with the swimming and track center and future growth out in that area is going to be very big,” Bloom said. “There are some major housing developments that are going to go in.” A runway extension project and a proposed Tax Increment Financing district for the Morgantown Municipal Airport and Commerce Park is in the early stages of being determined, and if it moves forward, it could add even more to the already growing footprint of Monongalia County.

    The project “will improve capabilities and attractability for the airport, but also we are utilizing a lot of the soils that would need to be moved in order to do the runway extension to then create a 90+ acre business industrial park adjacent to the airport,” Russ Rogerson, president and CEO of the Morgantown Area Partnership said in a previous interview. “It’s an opportunity for two benefits out of the same action.”

    The project would be an improvement for the airport but also a job center for the area, according to Rogerson. There have been some differing views on the TIF up to this point, as some of the land included Commission President Ed Hawkins’ 17-acre property and several questions remained, from the county’s perspective, about planning and application. And while area officials on both sides are still in early stages, such a potentially large economic driver will remain a major part of economic and government conversations in the recent future.

    “In all things economy based, it’s important that as a community we continue to attract new businesses and to help existing businesses expand,” Rogerson said previously, adding that this park would be the most significant business park land in Morgantown. The runway extension project of 1,001 feet, which would make the final runway length 6,200 feet, would have a total estimate cost of $50 million and take between five and 10 years, according to overview documentation from the Morgantown Municipal Airport. Major construction would be expected to begin in the fall of this year. And while the continuous construction that goes along with exponential expansion can be bothersome to residents or seek like it will never end, Bloom said it really does have the potential to positively influence quality of life in Morgantown and in the entirety of Monongalia County.

    “Because of this growth, we are able to keep our property taxes low and provide more services,” Bloom said. “We are very fortunate that our community, Mon County, is looked at as a growing area and I believe it’s really important to continue that.” Being such an area does come with its own concerns and problems, like with infrastructure and road conditions, and that is not lost on the county. “We need a better working relationship with the state on fixing our infrastructure and our roads,” Bloom said. “We have our own concerns and problems with more cars and traffic.”

    Monongalia County’s concerns in that area being so much different than other, more rural parts of the state, can sometimes make such communications difficult, according to Bloom. But it’s something that will continue to be addressed, he said. Other areas the county has its sights on includes the working relationship between surrounding counties and continuing to strengthen those bonds will be a focus as 2020 ticks onward, Bloom said.

     

    Feature Image Caption: The WestRidge leasing office is a 15,000 square foot, three-tenant, mixed-use building in Morgantown. 

    Article by Clarissa Cottrill, The State Journal

79. Mon Health Seeks Equal Treatment When State Reviews Fairmont Hospital Projects

    March 25, 2020 12:21 pm Comments Off on Mon Health Seeks Equal Treatment When State Reviews Fairmont Hospital Projects

    Mon Health System hopes that it will be treated on par with WVU Hosptials when the state Health Care Authority evaluates their somewhat parallel plans to open new hospitals in Fairmont. Both systems want to fill the gap left by the recent closure of Fairmont Regional Medical Center. In a statement released Tuesday, Mon Health President and CEO David Goldberg referenced a March 13 visit by Gov. Jim Justice to Fairmont to tout WVUH’s two projects.

    “Politicization of healthcare is not safe and not smart, especially at a time with national, regional and local impacts from COVID-19,” Goldberg said. “What is happening across West Virginia is a perceived focused toward a single source of healthcare by one non-profit dominant healthcare system. National evidence shows that this leads to increased costs, diminished efficiency of convenient access, and ultimately a market monopoly. Most of all, the choice patients have and the right of citizens to choose where they want to get healthcare is taken away from them.” He continued, “Mon Health System has filed a worthy and appropriate Certificate of Need application to build a new hospital to serve Fairmont and the surrounding region and deserves fair and balanced review and consideration so that Mon Health System is not excluded from the Fairmont market.”

    On March 10, Mon Health notified the HCA that it will seek a certificate of need (CON) for a Mon Health Marion Neighborhood Hospital with an emergency room, 10 inpatient beds and the services of an acute care hospital. The estimated cost is $25 million and would take 18 months to complete.

    On March 20, WVU Hospitals notified the HCA of two projects it will seek CONs for: a 10-bed hospital in the FRMC building to serve as an interim facility and Ruby Memorial campus, at a cost of $8.79 million and taking one month to complete upon approval; and a subsequent 25-bed hospital at a separate site, to cost $35.3 million and be completed within 32 months. Justice characterized the WVU effort as a 100-bed hospital, but he conflated WVUH’s plans indicated in its letter to the HCA. WVUH said that after the initial project it anticipates two or three additional construction phases that “could approach approximately 100 beds.”

    Goldberg said in his statement, “The governor has suggested that West Virginia’s Certificate of Need laws might be set aside so that WVU Medicine can move more quickly to replace hospital services. … There has been no indication from the governor that the possible set-aside of the Certificate of Need law will be applied in a fair and equal manner for any other independent entity, including Mon Health, to more quickly proceed with its project.”

    The Dominion Post reported that on March 13, while the governor said he was thrilled and “tickled to death” about Mon Health’s plans for Fairmont, it wasn’t enough to amply serve the area. The Dominion Post asked Justice about this issue during his Tuesday COVID-19 press update, but his answer was unclear, as he focused instead on his idea of using FRMC as a backup hospital should virus cases overwhelm existing hospitals, and waiving any CON process to make that happen.

    Justice on Tuesday again talked about using if for overflow. “If you don’t dream big enough you’ll never get it done.” Without addressing Mon Health’s plan, he said he’s looked at way to speed up WVUH’s process, but the state rules and regulations regarding CONs are clear. Some rules have been relaxed for the COVID-19 pandemic, but others haven’t. “It doesn’t mean I’m not to going to go back and try to change the answer.”

    Mon Health and WU Medicine both offered comments on Tuesday via email exchange. WVUM spokeswoman Heather Bonecutter said, “As I’m sure you understand, we’re focused entirely now on making sure WVU Medicine is fully prepared to respond to a surge in COVID-19 cases. We were surprised to hear the statements made yesterday. We are supportive of Mon Health’s project in Fairmont.” Goldberg said, “We have had multiple conversations with many parties to ensure healthcare choice and access is maintained in the Fairmont community for hospital-based services, outpatient care and durable medical equipment.”

    “Mon Health System and WVUH have a strong working relationship. I have personal and professional respect for Albert Wright and the stellar providers at WVU Medicine, who are our partners in many services like tele-neurology/stroke, neonatology, nephrology and others. But, I also want to ensure the record is clear that Mon Health wants to be included in solutions for Fairmont and that our Certificate of Need application to build a hospital there is fairly reviewed in Charleston and that equal access, choice and balance in the market is preserved.”

     

    Article by David Beard, The Dominion Post

80. March Newsletter: White Diamond Realty – BDR’s Residential Partner Is Active!

    March 18, 2020 1:28 pm Comments Off on March Newsletter: White Diamond Realty – BDR’s Residential Partner Is Active!

    View our March Newsletter: White Diamond Realty – BDR’s Residential Partner Is Active!

    Click Here!

81. Dominion Post: Black Diamond Realty LLC opens new residential arm, White Diamond Realty

    February 6, 2020 5:00 pm Comments Off on Dominion Post: Black Diamond Realty LLC opens new residential arm, White Diamond Realty

    Melissa Berube, formerly of Howard Hanna, tapped to head company.

    For David Lorenze and Mark Nesselroad, principals of commercial real estate company Black Diamond Realty LLC, starting a residential brokerage was a no-brainer for the pair. “We grew to be the commercial bridge with national [commercial real estate] firms and had formed a great team,” Nesselroad said. “We saw an opportunity to serve the residential market.” “Our outreach makes us different.” Lorenze agreed. “We are excited to utilize Black Diamond Realty’s presentation, process and people to develop a new organization focused on residential brokerage services,” Lorenze said. “Securing a well-respected, strong leader was a critical first step.”

    The result of that opportunity is the recent formation of White Diamond Realty LLC, Black Diamond’s new real estate arm. And to lead their new residential venture as its broker, the principals tapped Melissa Berube, a veteran Morgantown area realtor who was the 2019 president of the Morgantown Board of Realtors.

    “Melissa brings to the table a strong reputation, a charming demeanor and an unwavering work ethic, which we are confident will lead to tremendous results. … We are excited to see what the future holds and appreciate the community’s support,” Lorenze said.

    At White Diamond, Berube, who has been selling homes for nearly two decades, is being tasked with recruiting and building a team of seasoned agents who know the local real estate market and are tech savvy. The White Diamond agents will be based at Black Diamond’s Stewartstown Road headquarters.

    “I am excited to be building something new,” said Berube, who was previously with Howard Hanna Real Estate Services Cheat Lake office. “I am working on the foundations now,” she said. “Our goal is to become a boutique agency that emphasizes quality over quantity.”

    Berube said she is looking at recruiting more than a dozen agents at White Diamond, a goal she hopes to accomplish by spring. She sees White Diamond’s niche mostly as second-time home buyers, or transition buyers who are new to the area. “Experience is always good, but I would consider a newbie,” said Berube, when asked about the kind of residential agent she hopes to recruit. The agents who join White Diamond will be incentivized and encouraged to work together as a team — a concept important to Black Diamond, she added.

    “For us, it’s all about team building,” said Nesselroad, who also serves as the chief operating and legal officer of developer Glenmark Holding LLC. “Starting a residential company has been in the backs of our minds for a while.” It also helps to have Berube as its residential broker, he said. “We have full faith and confidence in Melissa Berube to lead our team.”

     

    Article By: Suzanne Elliott, The Dominion Post 

82. Longview Plans to Expand – Officials Seek to Build $1.1B Facility

    October 29, 2019 7:40 pm Comments Off on Longview Plans to Expand – Officials Seek to Build $1.1B Facility

    Right now there are just wild flowers on the empty land next to the Longview Power Plant in Maidsville, just north of Morgantown. But that will change in just a few years. Longview officials are in the process of obtaining permits to construct a $1.1 billion Longview Power Clean Energy Center that will be one of the largest fully integrated power generation facilities in the region. The company said the plant is sorely needed in the state.

    Coal-fired electric power plants accounted for 92% of the state’s electric generation in 2018, according to the U.S. Energy Information Administration. Renewable energy — like wind or hydroelectric-generated 5.3%, while natural gas provided 2.1%. “The average age of a coal plant in West Virginia is 45 years,” said Jeff Keffler, chief executive officer of Longview Power LLC, which opened eight years ago. “The writing is on the wall.” Indeed. Seven of the eight coal-fired plants are expected to be obsolete and could be retired in the next few years, hence Longview’s push to be up and running by 2023.

    The facility will be a combination gas and solar facility and be located next to Longview’s coal-fired plant, which the company said is one of the cleanest coal plants in the country. Adding gas and solar components is part of its overall business strategy, Longview officials said. “The choice was to invest in West Virginia,” Keffler said. “This will be a state-of-the-art facility.” “This is a win-win. We are a West Virginia company, and we’re able to grow.” Longview officials recently took local Monongalia County representatives, union officials and news media on a tour of the current coal facility and updated the status of the project, announced last year.

    The plan

    Company officials said the expansion will be constructed with union labor. The gas portion of the project will be built first. When complete, it will be a 1,200-megawatt, natural gas-fired, combined-cycle gas turbine that will be adjacent to the coal plant. Marcellus shale gas will be used. Construction of the natural gas phase of the project is slated to begin sometime next year, with completion targeted for 2022. This phase of the project is expected to cost $925 million and could mean lower fuel costs for consumers in the coming years. The plant will employ up to 35 full and part-time workers at an annual payroll of nearly $2 million, according to Longview.

    The plan makes sense, energy experts said. “The fuel is plentiful,” James Wood, interim director of the Energy Institute at West Virginia University, said in an email. “The permitting process is less complicated and the capital and operating costs of the power plant are lower kW than coal, plus natural gas prices will be favorable for several years.”

    The third phase of the project is the solar and carries a price tag of $76 million. Plans here call for the construction of 70-megawatt solar facility, 20 megawatts will be in West Virginia, while 50 megawatts will be  just over the Pennsylvania border in Greene County. It will be the first large-grade solar facility in West Virginia, the company said. Also, companies like Amazon, Google and Facebook are looking to buy its electricity from renewable energy sources, Keffler said.

    The power produced by the gas and solar facilities when they come online — possibly by 2023 — will be sold the PJM Interconnection LLC, which coordinates the movement of wholesale electricity through 13 states and the District of Columbia. Longview provides power to 500,000 homes in the PJM. “The reconfigured plant should dispatch ahead of the plant as it exists today,” Wood said.

    The impact

    Over the life of the plant, Longview agreed to pay Monongalia County $105 million in payments in lieu of taxes — PILOT. The expansion will add $58 million to the total. During the construction phase of the gas portion, nearly 5,000 jobs will be created, while the solar portion will generate 75 construction-related jobs. Longview said employee compensation should exceed $360 million. The economic impacts on the West Virginia economy associated with the first full year of operation of the gas plant are estimated at 618 full and part-time jobs, with $43 million in employee compensation.

    The solar plant, meanwhile, in its first year of operation is estimated to create 10 full and part-time jobs and $640,000 in employee compensation.  The plant will be constructed on reclaimed mine land. Kessler said Longview — owned by New York-based equity firm KKR & Co. Inc. — should have its permitting process finished in the next 12 months. Construction should begin right after that. Barbara Evans Fleischauer, a Democratic state delegate, from Monongalia County, toured the Longview plant and was updated on the plant expansion. “It’s important to me that union workers will be used,” she said. “I think this is exciting.”

     

    Article by: Suzanne Elliott, The Dominion Post

83. It’s a wash: Don Stenger selling longtime car wash businesses

    September 17, 2019 5:40 pm Comments Off on It’s a wash: Don Stenger selling longtime car wash businesses

    Two longtime Morgantown car washes are for sale after their owner decided it was time to retire and enjoy the next chapter of his life. “I don’t fish, hunt or play golf,” said Don Stenger, owner of the shuttered Stenger’s on Chestnut Ridge Road and South High Turbo-Matic on High Street. “It’s going to be a hard transition.”

    Stenger, 69, said he decided to close Stenger’s in April after it became too hard for him to find help to staff the business he has owned since 1982. “That was the deciding factor,” he said. “The help I did have was always short-handed.” Stenger has owned South High Turbo-Matic since 1952. It was the site of his family’s store — Stenger’s Inc. — and was converted to an automated car wash after Stenger said his father showed him one in Huntington, where the line was three blocks long.

    “He said to me ‘Donnie if I open one, will you give me a hand?’ ” said Stenger, who was 16 at the time. “I said sure.” The South High Street location will remain open until bad weather hits the area later this year, he said. “For the past seven years, business has dwindled,” Stenger said. “Students today don’t wash their cars. A clean car is a happy car, but I don’t think that is the case today.”

    Both the Chestnut Ridge and South High properties have been listed for sale with Black Diamond Realty LLC. The asking price for the 767 Chestnut Ridge property is $1.95 million. According to the marketing brochure, the total available space is 7,805 square feet and 32,493 vehicles pass the site daily. The ground level of the main building is 6,623 square feet that was used mostly as cashier space and a waiting area. The second floor is 1,049 square feet of storage space. The building also includes five 14-foot-by-nine-foot overhead doors and a large tunnel with an automatic car wash bay. A detached, 133-square-foot building is also on the property. It was previously used as a pet grooming station.

    The asking price for the automatic car wash located at 132 S. High St. is $1.225 million, Black Diamond said. Even though the business dates back to 1952, the current 5,883-square-foot building was constructed in 1980. The car wash, which sits on .67-acre parcel, has nine car wash stalls and 10 vacuum stalls. The additional parking space is available for interior cleaning and detailing. The interior of the building has office and laundry space.

    “I don’t think I could have held on without my wife, Jackie,” Stenger said. “I also want to thank Morgantown for its business over the years.”

     

    Article by Suzanne Elliott, The Dominion Post

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    Interested in purchasing either one of these locations? See the detailed marketing flyer links below and call Black Diamond Realty at 304.413.4350 to schedule a tour.

    View 132 South High Street Marketing Flyer: CLICK HERE

    View 767 Chestnut Ridge Road Marketing Flyer: CLICK HERE

     

    

     

     

84. Job Creation, Clean Power Generator, Natural Gas Consumer

    September 13, 2019 1:33 pm Comments Off on Job Creation, Clean Power Generator, Natural Gas Consumer

    Longview Power has taken the next step to make it planned combined cycle gas-fired power plant a reality. The company announced late Thursday it has filed its application for a siting certificate to build the plant with the West Virginia Public Service Commission. Longview has dubbed the plant the Longview Power Clean Energy Center. It will be sited adjacent to the current coal-fired plant near Maidsville and will produce more energy: 1,200 megawatts compared to 710 MW for the coal plant. It will also include a 70 MW utility grade solar installation.

    Combined cycle means the gas powers a turbine, and waste heat is routed to a steam turbine to generate additional power. Longview Power President and CEO Jeff Keffer told gas industry representatives in July that coal-fired plant in Morgantown is the cleanest in the world and the most efficient in North America. But it’s probably the last of its kind. That’s why Longview is developing the gas-fired combined cycle plant. He said in Thursday’s announcement, “The Longview Power Clean Energy Center will be a global model for clean fossil and renewable energy development. This first-of-its-kind project will use regionally produced Marcellus gas and the solar facility will be one of the largest in Appalachia.”

    Keffer said the project will cost $1.1 billion to construct and create 5,000 direct and indirect jobs during construction. Employee compensation will exceed $360 million. The facility will pay an additional $2 million annually in PILOT (payment in lieu of county property taxes) and tax payments, over and above the $3 million currently generated by the coal plant, the announcement said. Longview expects to add more than 30 additional skilled, high-paying power generation jobs to operate the expansion facilities.

    The coal plant generates enough electricity to power almost 700,000 homes, Longview said. Once the Clean Energy Center is fully operational, the combined facilities are expected to produce over 2,000 MW of electricity, serving nearly 2 million homes in northern West Virginia and southwestern Pennsylvania. The solar facility will use over 185,000 solar panels on 300 acres and be one of the largest solar generation facilities in Appalachia, Longview said. It will be constructed in Pennsylvania and West Virginia.

    Keffer told the gas industry eps in May, “We’re really not in the coal business.” Longview’s business is energy conversion: using fuel to produce power; the fuel could be coal or gas or the sun. While the coal plant is the least expensive fossil fuel plant in the PJM regional network, the opportunity to build more coal-fired plants like it has passed, he said. The Trump administration undid the Obama-era Clean Power Plan, but took too long to rewrite the rules.

    So gas is the next wave, he said. It’s now the predominant fuel in the PJM network, making up about 38 percent of its total. And as expensive coal and nuclear plants close, a new generation of gas plants will be needed to supply the baseload. Several government officials included comments in Thursday’s announcement. Sen. Shelley Moore Capito said, “In addition to all of the jobs and economic growth this project creates, it also positions West Virginia as a world leader when it comes to producing electricity in an environmentally friendly and cost-effective manner while proving that coal and gas will continue to power America for decades to come. It’s the perfect example of how our state continues to contribute to our national all-of-the-above energy strategy.”

    Sen. Joe Manchin, Ranking Member of the Senate Energy and Natural Resources Committee, said, “In 2017, I brought U.S. Secretary of Energy Rick Perry to tour Longview Power because I wanted to show him the innovative work being done in West Virginia. I have always supported an all-of-the-above energy policy and am confident West Virginia workers will achieve this at Longview.” And Gov. Jim Justice said, “I’ve said many times that we need to be an ‘all-in’ energy state here in West Virginia. The more ways we are able to use our abundant resources, the more we will be able to build on the momentum we’re already seeing in our economy and this kind of complete commitment is exactly what we need to truly put West Virginia on the map.”

    The announcement arrived after hours and The Dominion Post was unable to reach the appropriate Longview officials or the PSC to learn about the site certificate process.

     

    Article by David Beard, The Dominion Post

85. September Newsletter: This Unique Development Site is a MUST SEE!

    September 12, 2019 2:58 pm Comments Off on September Newsletter: This Unique Development Site is a MUST SEE!

    View our September Newsletter: This Unique Development Site is a MUST SEE! Click Here!

86. City Agency Looking to Acquire 430 Spruce Street

    August 7, 2019 2:39 pm Comments Off on City Agency Looking to Acquire 430 Spruce Street

    Working through its newly formed Land Reuse and Preservation Agency, the city of Morgantown plans to acquire the 8,000 square-foot building at 430 Spruce St. for $1.25 million.

    City Manager Paul Brake said the property, which is next to the Morgantown Market Place pavilion, will serve dual purposes. The first floor will be used as additional office space for city personnel, while the second floor will be leased to private commercial tenants, providing a revenue source of about $60,000 annually for the LRPA.

    Additionally, the LRPA and the Morgantown Parking Authority will split an estimated $24,000 annually in long-term parking rentals for the spaces around the building.

    The cost of the building is $1.25 million, about $85,000 below its appraised value, according to Brake. The LRPA will seek a total of $1.5 million in financing from private lenders. The additional funds will be used for renovations ($176,000) and a pocket park public space in front of the building ($115,000).

    The Morgantown Police Department actually moved into the building in April due to construction at the Morgantown Public Safety Building. Brake said the existing lease of $13,500 for the MPD’s use of the space will be rolled into the financing.

    The city will lease the first floor off the LRPA for $150,000 annually. That money will be used by the agency to repay the loan on the property, which has been on the market for about a year.

    As the placement agency on the project, Cruise and Associates will line up potential lenders. Brake said the initial timeline would have the LRPA closing on the property in early September.

    He said it’s too early to say what city offices would make the move across the street, but noted the city may eventually occupy the entire building.

    “This will allow us to provide adequate space. We’re in growth mode. We’re adding positions to the work force and we need an area to house these folks,” Brake said, explaining the city facilities are already tight on space. “We did look at alternative arrangements — leasing out other spaces or building new. This is the most practical from a financial perspective.”

    The creation of the LRPA was finalized in January, making it the first of its kind in West Virginia.

    The agency has autonomy to make purchases or acquire property through gifts or other means. Council appoints members to three-year terms and has the final say over acquisitions.

    Council moved the acquisition forward for consideration, with the only challenge coming from Councilor Ron Dulaney, who said he would like to see all the details as well as the city’s rationale for the move spelled out and made available publicly.

    Council also moved the following forward for future consideration:

    • A change that would make Second Street one-way, from University Avenue to Grant Avenue. Additionally, a number of metered parking spaces will be placed along the one-way street.

    The changes are to accommodate Appalachian Cannabis Co., which lost its on-site parking spaces as they are located in front of the building and non-conforming under the “retail sales establishment” use.

    • A change that will alter the traffic signal at the intersection of Earl L. Core Road (W.Va. 7) and Hartman Run Road to accommodate vehicles entering and exiting to former Freedom Ford site, which will be the home of a new Aldi grocery store. Council asked that the DOH also consider pedestrian crossings when finalizing its plans. Tweet @DominionPostWV

     

    Article by Ben Conley, The Dominion Post 

87. Demolition of Towne House Motel Ahead of Schedule as Long-Standing Building Soon to be Part of Past

    August 2, 2019 8:25 pm Comments Off on Demolition of Towne House Motel Ahead of Schedule as Long-Standing Building Soon to be Part of Past

    It stood in Bridgeport for decades. As of Thursday, there wasn’t much left standing of the once thriving Towne House East Motel off of Main Street. Workers with Lyons Excavating have been leveling the structure for some time now. The company is doing $196,000 worth of demolition work that includes items done before the building started coming down and items to be addressed once it’s completely down.

    “We are actually ahead of schedule, which is great news,” said Bridgeport Community Development Director Andrea Kerr. “All the asbestos has been abated and properly disposed of and as of (Wednesday) the building is just about down.” That doesn’t mean the work is finished. The contract signed with Lyons has a completion date of Oct. 31, said Kerr. While that doesn’t mean they have to be on site until that date, it does mean there are other items that will be addressed.

    “Once everything is done, the area will need to be seeded and mulched,” said Kerr. “There’s other things that will also be taken care of, but it’s important the property looks nice until a decision is made for what will be put in place there.” The building on Main Street (U.S. Route 50) is near Twin Oaks. The lot provides two things that are a commodity hard to find along the corridor – road frontage and deep property in the rear.

    The entire parcel covers 2.734 acres and was purchased for $975,000. There has been discussion of putting a new city fire station, a police station or a combined version – or perhaps one and not the other – on the parcel. Nothing, however, is close to definitive. “I’m kind of excited to see the decision Council makes for the property,” Kerr said. “It’s a great piece to have ownership of and provides the city with a lot of options and opportunities.”

    Now, the area still has debris as a result of the construction. Remnants of the motel were visible as a scoop of material being pulled away had an old mattress cover hanging from it – a visible sign of the long-standing business that had faded into the past.

    By Jeff Toquinto, Connect Bridgeport

    

88. WVU Board of Governors OKs Three Major Construction Projects and Financing

    August 1, 2019 1:34 pm Comments Off on WVU Board of Governors OKs Three Major Construction Projects and Financing

    Citing the need to “improve the quality of student life, enrich academic experience, enhance student services, and respond to students’ needs,” the West Virginia University Board of Governors unanimously approved construction plans Wednesday for three major projects totaling $176 million.

    The projects will be funded by a combination of private donations, auxiliary revenue, private financing (bonds) and reserves.

    The projects are:

    · $100 million for construction of Reynolds Hall, the new home of the John Chambers College of Business and Economics on the site of the former Stansbury Hall on the banks of the Monongahela River.

    · $35 million for renovation of Hodges Hall classroom building, which has seen no major renovation since its opening in 1954.

    · $41 million for the next two phases of upgrades to Milan Puskar Center.

    At nearly 180,000-square-feet, Reynolds Hall, named for alumni and financier Robert Reynolds, “will not only be transformational in what it provides West Virginia University from an academic perspective, but it will also recast a portion of Morgantown’s waterfront into a hub of business activity. The true differentiator for the John Chambers College will be that of experiential learning and the overall role it plays in the student experience,” the University said in documents outlining the plan. “Reynolds Hall will encourage and stimulate a model of education that reflects a blend of classroom learning with experiences outside the classroom, ranging from learning labs to events, and from group participation-based projects to training designed to ready students for their careers.”

    The demolition of Stansbury Hall has already begun. Reynolds Hall is expected to be ready for occupancy by June of 2022. The proposed Hodges Hall renovation is proposed to include contemporary classrooms; computer classrooms; seminar and meeting rooms; updated office spaces; improved technology for teaching; and a 210-seat testing center. The Board was told the testing center is critical as there is currently no centralized center on campus. This center will help improve the testing process and continue progress toward making academic integrity a hallmark of our academic delivery. Eberly College of Arts and Sciences’ Women and Gender Studies, Native American Studies and World Languages, Literature, and Linguistics will occupy the upper floors. Occupancy is planned for June of 2021.

    The work at Milan Puskar Center includes expansion and renovation of spaces that are more than 10 years old, including the home team locker room, player lounge, equipment room, recovery suite, infrastructure, Hall of Traditions, offices, team meeting rooms and other support spaces. The locker room layout is inefficient for team meetings and is not large enough to support the full team roster. Included in the renovations are upgrades to the building infrastructure, mechanical, electrical, and plumbing systems, along with AV and technology upgrades to support current and future phases of the renovation. The project should be complete by July of 2021.

    The Board also unanimously approved the issuing of up to $110 million in revenue bonds to finance a portion of the projects. A second financing may occur toward the end of 2020. The Board also authorized the reissuing of up to $55 million in previously issued debt that is callable in October of this year. Board members Charles Capito and Taunja Willis Miller both recused themselves from consideration of the financing because their employers are involved in the bond process. The next regularly scheduled meeting of the board is set for Sept. 13 in Morgantown.

    Article by WVU. Click HERE to read original article.

    

89. Harrison County Chamber of Commerce – 100th Anniversary Dinner

    May 23, 2019 3:24 pm Comments Off on Harrison County Chamber of Commerce – 100th Anniversary Dinner

    On May 21st, a couple of the Black Diamond team members attended Harrison County Chamber of Commerce’s 100th anniversary dinner which was held at the Village Square in Clarksburg. Harrison County Chamber of Commerce presented its annual awards and recognized the Leadership Harrison 2019 graduates. Native to Harrison County, Clarksburg’s own Jimbo Fisher was the keynote speaker. David Lorenze and Jeff Stenger were delighted to attend the event and, as an added bonus, got to meet Jimbo Fisher personally.

    As evidenced in the autograph they secured, Jimbo Fisher’s key to success is “grit”.  Jimbo Fisher and all of the accomplished men and women throughout this region embody the hard working, never quit spirit of West Virginia’s Appalachian culture.

90. Congratulations, Mark J. Nesselroad – Generation Next 40 Under 40

    May 21, 2019 8:04 pm Comments Off on Congratulations, Mark J. Nesselroad – Generation Next 40 Under 40

    The State Journal has been recognizing and honoring young professionals throughout West Virginia as part of Generation Next: 40 under 40 for the past 14 years. Each year, the award reminds us that success and happiness can be found and made within the Mountain State’s borders. Whether native to sons and daughters or those who choose to live here, all our recipients are Mountaineer Proud!

    Generation Next: 40 Under 40 was created to celebrate the state’s outstanding professional people who are making a difference at work and in their communities. We’re proud of this year’s very special class of 40 under 40. They come from all corners of the Mountain State; from the southern fields to the Northern Panhandle and across the high-tech roads of North Central to the Eastern Panhandle and down along the Mid-Ohio Valley to Huntington and through the Metro Valley.

    They come from an array of careers, while finding high levels of success in their chosen endeavor, they haven’t allowed their jobs to define who they are or what they’ll accomplish. Some hold prominent positions, but find the time to operate one or even two additional business on the side. Others have achieved great career success but have made even greater impact through their community service. Some left for a while but were beckoned home by the call of the mountains. Others have long made West Virginia home.

    Generation Next: 40 Under 40 is a shining light each year that clears out the darkness that shrouds the state with negative rankings and stereotypes. It is a reminder that there is a greatness among the hills and valleys of the Mountain State. As West Virginia emerges from past hard times, it will be the energy and leadership from Generation Next that carries the state to a heightened level of prosperity and paves a pathway to greatness to come. We Salute this year’s class of Generation Next!

    Congratulations, Mark J. on this outstanding accomplishment!

    

    Article by The State Journal. Click HERE to see the full Generation Next 40 Under 40 list. 

91. Economic Experts Tout Potential of Natural Gas Development

    April 26, 2019 1:08 pm Comments Off on Economic Experts Tout Potential of Natural Gas Development

    Growth in the state’s energy industries, along with the construction projects that come with it, offers many economic opportunities, but there is a balance to be had, as was demonstrated by speakers at the eighth annual Marcellus to Manufacturing Development Conference in Monongalia County.

    John Deskins, chief economist for West Virginia University and director of the Bureau of Business & Economic Research, said the state’s economy is heading in the right direction overall, but added there are issues worthy of attention. “The 9,000 jobs we’ve added over the last two years are really concentrated,” he said. “This is part of the problem. The jobs we’ve added have been concentrated almost entirely in eight counties of West Virginia. Those eight counties are doing well. And we have 40 counties that are stable … some small growth, some small decline, but mostly stable.”

    Despite improvements, Deskins said long-term problems remain. One is the state’s workforce participation rate, which is the lowest in the nation at only 54 percent of the state’s adults either working or actively looking for work, compared to a national average of 63 percent. He also pointed out that of the 9,000 new jobs, as much as 85 percent of them are in coal, natural gas or temporary construction work that is mostly related to natural gas. He said economic diversification is still a long way off. “We want energy to be strong,” Deskins said. “We want coal, gas and construction to be strong — obviously — but we have to have growth in other sectors like manufacturing, like tourism. This is the environment we find ourselves.”

    Deskins said economic diversification is not only necessary for different types of businesses to flourish, but also to prevent a brain drain. For instance, he said when economic shocks occur, such as the decline of coal a few years ago, residents leave to find work elsewhere, and most of those who leave tend to be young people. This also leads to the vicious cycle of unemployment, despair and drug abuse. Deskins said the abundance of natural gas in Appalachia does present an opportunity to achieve economic diversification in view of the number of chemical and manufacturing industries that are drawn to cheap, plentiful and accessible feedstocks. “We have the opportunity to create tens of thousands of jobs over the next decade or couple decades,” he said.

    Joe Bozada, chief operating officer of the Appalachia Development Group, said work on an Appalachian Storage Hub for natural gas to feed that economic diversification is underway. While the past year of development has been highlighted by the selection of Parsons Corporation as an engineering partner and securing loans from the U.S. Department of Energy, Bozada said the work on selecting underground sites to build the hub has also proceeded. He said that after negotiations with landowners, the list of sites has been narrowed down to five. Now the task, he said, is to further narrow that down to two sites — a primary site and a backup site.

    He said the biggest risk to large-scale investment in West Virginia is a lack of suitable infrastructure. The Appalachian Storage Hub, when completed, will serve as a critical piece of that infrastructure, along with various pipeline construction projects, he said. “Our biggest risk is, essentially, why we exist,” he said, adding that the ultimate prize at the finish line is the 100,000 family-sustaining jobs the storage hub is projected to create via downstream development. Despite the promises of the storage hub, Bozada said other energy interests around the world aren’t just sitting back. They too are looking to expand.

    He said U.K.-based INEOS has invested 3 billion euros into the construction of plastics manufacturing facilities in the Belgian port city of Antwerp — plants designed to use ethane derived from North American shale gas brought in by ships. Bozada said that while this is happening, American Ethane Co., which has Russian financing, is preparing to embark on a venture to supply Chinese markets with as much as $75 billion of ethane that would travel forth by sea through Beaumont, Texas, on the Gulf Coast, another hub of America’s petrochemical industries. He said volumes of that quantity represent an equivalent to the 100,000 jobs the creation of the Appalachian Storage Hub could provide.

    Looking back to Appalachia, Long Ridge Energy President Robert Wholey said there are opportunities for business development in the remains of older industries that have since shutdown. He said one only needs to look across the Ohio River in Wetzel County to see an example. Located in Hannibal, Ohio, sits the leftovers of Ormet Primary Aluminum Corporation which is being redeveloped into a gas-fired power plant. The smelter, once the third largest aluminum smelter in the U.S., shut down in 2014, but development into a power plant started almost immediately after Long Ridge’s parent company, Fortress, purchased the property in 2017.

    “It used as much power as the city of Pittsburgh,” Wholey said. “It went bankrupt because the power prices were too high. The terrible irony of it was that power was right beneath their feet.” Wholey said a particular advantage of developing such a site is the fact that much of the infrastructure is already in place, which can speed up the process and reduce some costs.

     

    Article by Conor Griffith, WVNews

92. Reasons to Invest in Appalachia

    April 22, 2019 1:45 pm Comments Off on Reasons to Invest in Appalachia

    Between potential for growth in the energy and manufacturing sectors, coupled with technology and federal government operations, there are plenty of sound investment opportunities in the Appalachian region despite its challenges.

    Such was the subject of industry and business development conferences held recently in Monongalia County. At the eighth annual Marcellus to Manufacturing Development Conference, Solvay Senior Vice President Wally Kandel said West Virginia has advantages in downstream industrial potential for its natural gas unique to other high-production areas around the globe.

    He said that while the U.S. Gulf Coast remains a production and shipping powerhouse for natural gas, that region remains vulnerable to hurricanes and is far from the majority of its customers. Kandel said the decision to invest more heavily in the Gulf Coast was a sound one based on the technology and knowledge available in 2010. However, much has changed with the advent of horizontal drilling, and the advantages of the shale deposits in Appalachia are becoming more and more obvious. “In our case, we don’t have to decide where the customers are and where the feedstock is,” he said, noting that a majority of the U.S. population is within a day’s drive of West Virginia. “We need a shining bright new image that shows that.”

    Many of the conference attendees also spoke in support of the Appalachian Storage and Trading Hub and the supporting pipelines needed to move the product to markets. Mike Graney, head of the West Virginia Development Office, pointed to the new polyethylene cracker plant under construction in Butler County, Pennsylvania, which is the biggest project in Pennsylvania since World War II and has one of the world’s longest supply trains on site supporting the construction effort. He said there’s enough gas in the region to support five of these facilities, which convert natural gas into pellets that can be used for manufacturing a wide variety of products. Another cracker plant worth $10 billion is in the works in Ohio as well. “We’ve got attractive states for industrial development,” he said.

    Citing sources such as The Cato Institute think tank, financial services company Moody’s Corporation, the state development office’s own findings and others, Graney said West Virginia has seen $5 billion in investments since 2017, has a better business tax climate than any of its surrounding states, has the nation’s lowest turnover rate in manufacturing, has the 11th lowest cost of doing business, has no business franchise tax and has a strong rainy-day fund. Some of that investment is already taking place. Frank Bakker, CEO of US Methanol, said his company is in the process of dismantling two of its facilities in Brazil and Slovenia and relocating them to West Virginia. “What is methanol? It’s alcohol in its purest form,” Bakker explained. “You can drink it … you’ll go blind and die … but there are lots of uses for it.” The largest use of methanol is in manufacture of other chemicals, which is why US Methanol is establishing itself in Kanawha County to be close to both the local petrochemical industry and accessible, abundant natural gas that can be converted to methanol.

    Other applications include laboratory solvents, antifreeze and vehicle fuel. A small amount of methanol can be added to wastewater to provide a food source of carbon for the denitrifying bacteria, which convert nitrates to nitrogen to reduce the denitrification of sensitive aquifers in some wastewater treatment plants. Challenges to further developing the storage hub and the economic goodies that come with it include a lack of flat land for construction, as well as a lack of cohesive strategic planning. However, Graney said these are issues that can be overcome. “I say we can overcome all of that if we have the right attitude,” he said. “West Virginia is not only wild and wonderful and beautiful. It is a powerhouse.” Kandel said it’s also a matter of properly informing those at the top of large companies around the world what the Appalachian region is capable of.

    During the second annual Take Me Home Country Roads Conference, organized by the Morgantown Area Chamber of Commerce in conjunction with the Pittsburgh Chapter of the Society of Professional Services, West Virginia High Technology Foundation President James Estep said the state’s knowledge economy is being enhanced by the transition of federal government operations out of the crowded Washington, D.C., metro area. “The cost of operations there has become astronomical. It just doesn’t make business sense to stay there,” Estep said, referring to Northern Virginia and Western Maryland. “It can be transformative not only economically but cement in place a knowledge sector that could be an example for the whole country.”

    An example of this in action is tech company Leidos’ work with NASA and the National Energy Technology Laboratory. In fact, this prompted the firm to start building a whole new campus at Monongalia County’s West Ridge development off Interstate 79. Estep said that as federal functions move to a new area, companies to support those functions also move into the area to go where the work is. He said this often leads to a ripple effect where companies branch out and expand their operations to keep up with demand, creating more jobs in the process.

     

    Article By: Connor Griffith, WVNews

93. WVU Medicine set to add 5th hospital in 2 years

    April 16, 2019 1:57 pm Comments Off on WVU Medicine set to add 5th hospital in 2 years

    Twenty-three years later, the major mission to increase West Virginians’ access to healthcare remains largely unchanged. While the mission continues, some of what WVU Health System is doing to fulfill it has evolved.

    WVU Health System (WVU Medicine), on the verge of partnering with Jackson General Hospital in Ripley, West Virginia, is in the process of adding its fifth hospital to the extended family in just two years — a significant increase over the system’s first two decades in existence. Last week, the West Virginia Healthcare Authority granted a Certificate of Need, clearing one of the final significant hurdles to the 55-year-old hospital joining the state’s largest private employer. Joining Summersville Regional Medical Center and Braxton County Memorial Hospital, Jackson General is the third hospital in 2019 to join, at least in part, with WVU Medicine.

    Summersville Regional Medical Center along with Garrett (Maryland) Medical Center and Wetzel County Hospital are currently in a management agreement partnership with WVU Medicine. Braxton County Hospital, Berkeley Medical Center, Camden Clark Medical Center, Jefferson Medical Center, Potomac Valley Hospital, Reynolds Memorial Hospital, St. Joseph’s Hospital, and United Hospital Center are all fully integrated members of WVU Health System. Converted to a critical access hospital in 2012, Jackson General is a 25-bed non-profit facility that employs 300 people. Jackson General Hospital has received a certificate of need, removing another obstacle in their quest to partner with WVU Medicine. The hospital is trying to get ahead of the curve, according to Jackson General President Dr. Stephanie McCoy.

    “You’re just always trying to think ahead,” McCoy told MetroNews affiliate WAJR in Morgantown. McCoy said healthcare — due to a sometimes arduous relationship with government — is often a “moving target.” “You have to plan and you have to strategize, but then you always have to have your back-up plan in the back of the mind for “what if this happens,” she said. Dr. Albert Wright Jr., President and CEO of WVU Health System, said Jackson General is following that “forward thinking” model — a hospital doing reasonably well financially, but recognizing that the nature of the healthcare industry is ever-changing no matter who is in the Oval Office or in Congress.

    “Every scenario, any regulation, any proposed regulation is always going to pay us less than we get today,” he said. “So if we prepare that way, I don’t really have to worry about any regulations or legislative changes that change healthcare, because we’ll be ready to adapt to it, and we’ll be the low-cost provider.” Typically, WVU Health System added sparingly following the initial 1997 agreement with United Hospital Center in Bridgeport. It was a eight years before any other hospitals joined — eventually bringing Berkeley Medical Center and Jefferson Medical Center into the fold in 2005. It was then another six years until Camden Clark Medical Center in Parkersburg joined. And, in terms of healthcare, a lot can change in a decade. Since the Camden Clark acquisition, the Affordable Care Act — also known as Obamcare — was passed, survived a major Supreme Court decision, and went into effect. That, in and of itself, significantly changed the healthcare landscape. “Sometimes it does seem like we’re just a stroke of the pen from either making huge advancements or improvements or, alternatively, from devastation,” McCoy said. “It can be really hard to budget when the government can reduce payments or eliminate support with minimal notice and sometimes even retroactively.”

    Following the ACA, more changes — or at least the threat of more changes — came in a very short period. Three more hospitals became full members of the WVU Health System family and, then, in the wake of a failed repeal of the ACA in 2017, five more hospitals (including Jackson General) have become partial or full members of WVU Medicine, bringing us up to date on the aggressive expansion. This is a hub-and-spoke model, Wright said. WVU Medicine is centralizing its major Morgantown hub while simultaneously branching out its spokes across the state in order to bring the resources — talented specialists, equipment, and support — to rural clinics and hospitals.

    Ruby Memorial Hospital is the central “hub” in WVU Medicine’s hub and spoke model for treatment. “We’re building up our academic medical center significantly in Morgantown,” Wright said. “We’ve added lots of beds, lots of clinic space, lots of new physicians and programs around the Rockefeller Neuroscience Institute, the WVU Cancer Institute, the Heart & Vascular Institute, and then building the new children’s hospital.” “The spoke part of that is going out and acquiring clinics and physician practices and hospitals around the state in what we consider to be key, crucial areas in order to maintain good healthcare in those parts of the state,” Wright added. Though Wright wouldn’t specify, he did mention that there are usually “more phone calls that don’t work out” than ones that do when it comes to partnering with hospitals around the state. Wright said expansion, in this case, is about finding places to cut costs without sacrificing healthcare quality or access — which means finding ways to avoid duplication of efforts. “If you get most of your care — greater than 90 percent of your care — inside of one integrated health system where you don’t have duplication of efforts or re-ordering of tests or things like that and information available to all of your providers, you can actually cut your costs of care in half for a sick or complex patient over a three year period,” he said.

    Naturally, that brings both Wright and McCoy to what many consider to be the sort of crown jewel of the WVU Health System network. Yes — the partnership agreement means resources that rural hospitals might not have had access to or new patients that WVU Medicine may never have treated. Where the centralization becomes key is the digitized internal system that allows a patient to go to any hospital in the WVU Medicine family and have their full treatment records brought up instantly.

    St. Joseph’s Hospital in Buckhannon, WV joined the WVU Medicine family in 2015. For patients, Wright said it incentivizes them to choose hospitals in the network that have their history and can better treat them — often without having to stray too far from home. For the hospitals themselves, it limits duplication of treatment while also simultaneously convincing those patients that they don’t have to leave their home county for healthcare. “Wherever you go in any WVU Medicine clinic, physician office, urgent care, and any one of our hospitals should you get transferred, all of your information — all of your prescriptions, your labs, your X-rays, your imaging follows you everywhere you go,” Wright said.

    The next step, Wright said, is crucial: broadband access across the entire state. That’s because, when appropriate, Wright said telemedicine — the use of Skype or Face time, for example, to communicate with patients — will save significant dollars. “That is the best, quickest, cheapest access we can give,” he said. “Telemedicine, virtual visits of our specialists, that’s how we are going to reach parts of a rural state that we would never be able to do otherwise.” Broadband expansion — 100 percent connectivity — has been an ongoing discussion for years now among some of the state’s leaders. Hopefully, Wright said, 100 percent connectivity in West Virginia can happen sooner than later — considering the “creative” plans he hinted at that will be part of WVU Medicine’s future. “I think you’ll see us announce at least one and maybe a couple of very creative relationships with healthcare insurers with the goal of exactly what I talked about before — the highest quality, lowest cost provider with the best access to patients,” Wright said.

     

    Article by: Alex Wiederspiel, WVMetroNews.com

94. WVU Medicine holds grand opening for Center for Hope and Healing

    March 6, 2019 5:33 pm Comments Off on WVU Medicine holds grand opening for Center for Hope and Healing

    Douglas M. Leech establishes fund to support addiction recovery

    MORGANTOWN, W.Va. – WVU Medicine and the WVU Department of Behavioral Medicine and Psychiatry held a grand opening today (March 1) for the new WVU Medicine Center for Hope and Healing, a 29,305-square-foot addiction treatment facility that offers 12 beds for subacute medically managed withdrawal residential care and 30 beds for residential care up to 28 days.

    “Addiction in West Virginia continues to plague the state as one of its most serious problems. West Virginia has the highest rate of overdose deaths in the nation, and in many ways is the epicenter of the addiction/opioid epidemic,” Albert L. Wright, Jr., president and CEO of the West Virginia University Health System, said. “The WVU Medicine Center for Hope and Healing meets a major community need that has, to date, only been addressed on a small scale compared to the large scale of affected population.”

    The Center works to support adults struggling with substance use disorders through medically managed withdrawal stabilization and residential treatment. WVU Medicine and the WVU Department of Behavioral Medicine and Psychiatry already offer a comprehensive menu of outpatient services for people with substance use disorders, and the addition of withdrawal management and 28-day rehabilitation completes the in-house continuum of care for these disorders.

    The comprehensive person-centered treatment program offered at the Center includes:

    • Detoxification
    • Residential treatment
    • Medication-assisted treatment
    • Family support services
    • Individualized treatment plans
    • Trauma-informed care
    • Mindfulness-based practices
    • Specialized programming for recent overdose survivors and pregnant women

    “These services allow us to treat the entire patient not just his or her substance use disorder,” James Berry, D.O., director of addiction services, WVU Medicine Chestnut Ridge Center, and interim chair, WVU Department of Behavioral Medicine and Psychiatry, said. “We work with our patients to understand their immediate and long-term needs. By integrating treatment and recovery, our patients are able to incorporate change into their lives outside of the treatment setting.”

    The facility will serve as a single regional referral point for assessment of patients following discharge from local emergency rooms, inpatient detox units, and other referral sources. It will also accept self-referrals and referrals from community providers.

    In addition to celebrating the opening of the Center, officials also celebrated the receipt of a generous gift that has been made to support patient care at the Center for Hope and Healing.

    Douglas M. Leech, founder and CEO of Ascension Recovery Services, has established the Center for Hope and Healing Patient Care Fund with a gift of $60,000.

    The fund, which will offset the cost of treatment, will benefit patients seeking care at the Center for Hope and Healing.

    “The WVU Center for Hope and Healing will provide the highest quality clinical care for those in our state struggling with addiction, regardless of the payer type. An option like this has only been offered in the past out of state to those who have commercial insurance and the ability to cash pay a hefty fee,” Leech said.

    “WVU Medicine’s Chestnut Ridge Center helped me find residential treatment when I desperately needed it. When I returned to Morgantown, I received outpatient services at the Chestnut Ridge Center, where they strengthened and supported my early recovery. As I started West Virginia Sober Living and Ascension Recovery Services in Morgantown, WVU Medicine was there to support me, provide guidance and mentorship, as well as partnership on a variety of initiatives. WVU Medicine has always been there for me, and I’m grateful to be able to give back to an organization that helped me and so many others in our state.”

    Ascension Recovery Services, located in Morgantown, specializes in addiction recovery and treatment.

    To make a gift to the Center for Hope and Healing Patient Care Fund, please visit give.wvu.edu/wvumedicine-rni and refer to fund 2W1371 in the comments box.

    For more information about the center or making a gift, please contact Laura McCall, senior director of development for the Rockefeller Neuroscience Institute, at 304-293-5757 or laura.mccall@hsc.wvu.edu.

    This gift was made through the WVU Foundation, the non-profit organization that receives and administers private donations on behalf of the University.

    Read article on WVUmedicine.org HERE 

    

95. Black Diamond Attends The 16th Annual WVU Medicine Children’s Gala

    February 13, 2019 3:39 pm Comments Off on Black Diamond Attends The 16th Annual WVU Medicine Children’s Gala

    This past weekend, The Black Diamond Realty team dressed in their finest attire and followed the yellow brick road to the Land of Oz at the 16th Annual WVU Medicine Children’s Gala. Black Diamond Realty was proud to celebrate the incredible healthcare that is provided by the WVU Medicine staff throughout the year and to support fundraising for the new women and children’s tower.

    

96. Natural Gas Power Plant to Provide Economic Catalyst to Harrison County & WV

    February 11, 2019 8:51 pm Comments Off on Natural Gas Power Plant to Provide Economic Catalyst to Harrison County & WV

    A new natural-gas-fired power plant in Harrison County is expected to be operational by fall of 2021, according to a company official.

    Groundbreaking on the approximately 550-megawatt Harrison County Power Plant, a joint project of Energy Solutions Consortium and Caithness Energy, is expected to occur late this spring on county-owned property in Clarksburg’s Montpelier Addition, according to John Black, vice president of development for Energy Solutions Consortium. Black was in town Thursday to address members of the Harrison County Development Authority at their regular meeting. The meeting had to be canceled for lack of a quorum, but Black did provide an update on the project to those who were there.

    Engineering work already has started at the Glen Falls substation, he said. “There will be an expansion of the Glen Falls substation, and that’s where we’ll sell our power. That’s our point of interconnect” via a 1.8-mile transmission line, Black said. According to Black, the plant will support 400 jobs during construction, which will be filled using union laborers. The plant will have between 15 and 25 permanent employees, but will support other maintenance and supply businesses in the area. There may be additional opportunity for the construction laborers who come on board in Harrison County.

    Energy Solutions Consortium is also moving forward on a larger, 830-megawatt natural gas power plant in Brooke County. That project is approximately two months behind the Harrison County project, according to Black. “Our hope is to stagger them just enough that some of the labor can be switching from one to the other,” he said. The company estimates the annual overall economic impact of the Harrison County project will be about $880 million. “The financial commitment not only to our area, but the state of West Virginia, is substantial,” said Harrison County Administrator Willie Parker.

    Once construction is complete, the energy generated at the plant will flow into the PJM power grid, Black said. The PJM grid covers all or part of 13 states, including West Virginia and Washington, D.C., according to the transmission organization’s website. Some owners of property adjoining the power plant site have addressed the company with concerns regarding the facility’s aesthetics, noise levels and impact on traffic, but Black said the company has been able to allay those fears.

    The facility will be “very compact” at 12 acres, with a 180-foot stack that “won’t even go above the ridge line.” There will not be a visible plume, and emissions will be “well below permit limits,” Black said. The plant will run at about 55-65 decibels. According to information from Purdue University, 60 decibels is about the noise level of restaurant conversation, background music or an air-conditioning unit at a distance of 100 feet. Traffic will enter the property via a new access road rather than on Pinnickinnick Street, he said.

    According to Black, Harrison County was the ideal location for the plant because of its interconnection, fuel supply, labor development opportunities and water and sewer availability. “The real key is fuel. We’re in the heart of the fuel. To be able to get this kind of supply with only a six-mile pipeline to a major interstate is just huge for us,” Black said. Both the fuel and the transportation of that fuel to the plant will be handled by West Virginia companies, he said. EQT will construct a 6-mile pipeline to transport the gas into the plant, Black said. “Our gas bill every year is $110 million, and that’s West Virginia gas,” Black said. That will benefit the natural gas industry in West Virginia as a whole, said Harrison County Development Authority President Michael Jenkins.

    “That’s long-term severance tax revenue back to the taxpayers,” Jenkins said. “The biggest holdup to more drilling in the state and producing more wells and more royalty is having somewhere to utilize natural gas. These plants become instantly one of the largest consumers of natural gas in the region and start to build more demand for the natural gas.”

    Developers will turn over their access road to the state, and water and sewer utilities will be oversized to help accommodate additional development, Black said. “Once we are finished with it, we’re going to have 16 acres of property right next door perfect for people to come in and be a supplier to us. We’re going to have a brand new road, water and sewer access … and we’re updating the internet into the property,” he said. Harrison County Commission President Ron Watson said he hopes the infrastructure infusion in the area can spur additional growth surrounding the site.

    “It’s a beautiful day to be in Harrison County. The sun is shining brightly when you talk about half a billion dollars to build this that’s going to be back into our economy. We’ve been waiting, going through the hoops, and it will be a reality when the shovel digs,” he said.Watson said he expects the commission to reinvest funds from the eventual sale of the county property to plant developers into development in the plant area.

     

    Article by JoAnn Snoderly, WVNews

97. Bridgeport, WV Economic Development 2019 – VIDEO

    February 4, 2019 4:10 pm Comments Off on Bridgeport, WV Economic Development 2019 – VIDEO

    Bridgeport has become a leader in economic development in West Virginia. Bridgeport is featured in this video by the West Virginia Municipal League as they tell the story of economic development around the state. Click on the image below to watch the full video.

    

     

     

98. Morgantown, WV – 2018 Top 100 Best Places to Live

    January 31, 2019 2:02 pm Comments Off on Morgantown, WV – 2018 Top 100 Best Places to Live

    #43

    On the Best Places to Live list for 2018, Morgantown appears on Livability.com’s Top 10 Cities for Affordable Health Care. Known primarily as home to West Virginia University and its 30,000 students, Morgantown has a wide variety of housing options and neighborhoods as well as downtown shops, restaurants and entertainment nightspots for students and residents. The median age here is 22.6 years old, which contributes to a youthful and fun local culture.

    Morgantown Personal Rapid Transit (PRT) provides university students with free travel between the spread-out WVU campuses. With amenities like Hazel Ruby McQuain Riverfront Park and the Monongalia Arts Center at their fingertips, Morgantown residents never run out of things to do.

    Article by LIVABILITY

99. DOE Report shows potential for petrochemical Hub in Appalachia

    1:57 pm Comments Off on DOE Report shows potential for petrochemical Hub in Appalachia

    A recent study conducted by the U.S. Department of Energy further validated the benefits of and need for the Appalachian Storage and Trade Hub.

    The subsequent DOE report from this study sent to members of Congress, titled “Ethane Storage and Distribution Hub in the United States,” shed light on the advancing natural gas industries in the Marcellus and Utica Shale regions covering West Virginia, Ohio and Pennsylvania during the past decade due to innovations like hydraulic fracturing. The report stated that the region, in view of it also being home to the undeveloped Rogersville, effectively make it an energy super power.

    “Continued technological advancements and improvements in industry practices are expected to lower costs and to increase the volume of oil and natural gas recovery per well,” the report read. “The Appalachian Basin’s shale resource endowment is so bountiful that, were it an independent country, the region would be the world’s third largest producer of natural gas today.”

    While the U.S. Gulf Coast has been the nation’s historic hub of natural gas storage and activity, data from the report projects that Appalachian and East Coast states will produce more than 30 trillion cubic feet of natural gas by the year 2050, which is more than the combined total tons of the Gulf Coast and the rest of the country.

    “I’m not surprised at all, to be honest,” Appalachian Development Group President and CEO Steve Hedrick said regarding the DOE’s study. “I think it certainly validates the strategic importance of the Appalachian trading hub and what we have talked about as to the positive impacts it can have to our nation and certainly our allies around the world.”

    In addition to providing as many as 100,000 jobs and tax revenue in downstream development projects, Hedrick added that such a storage hub would better enable the United States to supply the world with reliable energy, natural gas liquids and other products.

    The hub itself took a crucial step toward reality in September when the Appalachian Development Group selected California-based Parsons Corp. as its engineering, procurement and construction partner. Since then, Hedrick said, potential sites have been narrowed down and negotiations with landowners are underway. The task now is to secure capital funding and conduct geological testing to ensure the sites in question are the right fit.

    James Wood, interim director of the West Virginia University Energy Institute, said the visit to Appalachia by U.S. Secretary of Energy Rick Perry in 2017 was what helped kickstart efforts to make the storage hub a reality

    “What was new to him, I think, was that this hub is likely to be built in rock and not in salt domes,” Wood explained. “He’s also pretty knowledgeable of the vulnerability of the (Mont Belvieu) hub down in Texas to periodic storm events and he knows that a hub up here is closer to markets.”

    Wood also noted that a storage hub in Appalachia would also reduce greenhouse gas emissions because fewer pipelines and compression stations would be needed to move product to market. Under the status quo, gas collected in West Virginia must be transported to the Gulf Coast before it’s refined and shipped north again where most of the market is.

    He said that while the Appalachian Development Group and Parsons Corporation are moving forward with developing the hub itself, WVU hosts several initiatives aimed at improving the natural gas industry. Research by the Center for Innovation in Gas Research and Utilization to produce baking soda out of carbon dioxide, a byproduct of coal power plants and natural gas well operations, is one such example. Various technologies and software systems are also being tested at the Marcellus Shale Energy and Environmental Lab at the Morgantown Industrial Park by university researchers in partnership with private companies.

    “This report affirms what we have been talking about for years,” Congressman David McKinley, R-W.Va., said. “Natural gas production in the region has grown by leaps and bounds over the past decade. West Virginia and surrounding states are poised to become a leader in petrochemicals and manufacturing, but we need to build the necessary infrastructure to make it work.”

    The DOE study also concluded that building an Appalachian shale storage hub is not necessarily in conflict with Gulf Coast expansion. This is because Appalachian capacity may serve regional demand for natural gas liquid derivatives, freeing up Gulf Coast production for other markets including exports overseas.

    The report also favored the Appalachian region itself since nearly one-third of U.S. activity in the petrochemical ecosystem occurs within 300 miles of Pittsburgh, with over $300 billion of net revenue, 900,000 workers, and 7,500 establishments.

    “As we watch hurricanes threaten Gulf Coast production, the Shale Crescent region offers a more insulated, affordable alternative to supplement production,” said Shale Crescent USA Co-founder Jerry James. “We continue to work closely with industry leaders to capitalize on the advantages the Shale Crescent region has to offer, and we are thrilled that the DOE is dedicating efforts to underscore these advantages and support our endeavor to bring more petrochemical investment to the region.”

    by Conor Griffith, WV News

     

100. 8,000 Jobs Added Within Past Decade in North Central WV

     January 22, 2019 3:38 pm Comments Off on 8,000 Jobs Added Within Past Decade in North Central WV

     North Central West Virginia continues to lead the state in economic progress, according to local experts.

     Although many other areas of the Mountain State lag behind national averages in most major economic indicators, the North Central region has continued to thrive and grow, according to John Deskins, director of the West Virginia University Bureau of Business and Economic Research.

     “North Central West Virginia is more stable than the nation, it seems. Or, at least, the patterns of the last couple of decades have indicated we have greater stability,” Deskins said. “The region’s economy is very resilient. Part of that depends on the fact that we have some really important federal employment in the region; we have the university in the region; and we have a lot of health care in the region. Those sectors of the economy tend to be really stable,” he said.

     The Bureau of Business and Economic Research recently released a study analyzing the NCWV region’s economy over the past few years and looking ahead to expected economic performance through 2023, Deskins said. Businesses in Monongalia, Marion, Harrison and Preston counties added more than 8,000 jobs between early-2010 and mid-2018, resulting in cumulative growth of more than 7 percent, according to the study.

     In Harrison County, many of the new jobs can be attributed to rebounding natural gas production and natural gas pipeline infrastructure under construction, Deskins said. “That’s actually something that’s creating benefits in other counties in the state as well, not just the North Central region,” he said. “But definitely the construction projects that have been going on have definitely helped employment and a whole host of economic measures here in North Central.,” he said. “There is lots of stuff going on with the pipeline construction. That’s in Harrison County, and it’s affecting other parts of our region, as well.”

     Sherry Rogers, executive director of the Lewis County Chamber of Commerce, said Lewis County has also experienced positive economic gains over the last year, mainly due to increased natural gas pipeline construction in the area. “There are some businesses that have seen an increase in their revenues due to the pipeline and the influx of pipeliners coming to the area and staying in the area,” she said. “Our retail and our restaurants have seen an increase due to that.” Several new businesses have recently opened their doors in and around Weston, Rogers said. “Here in Lewis County we have thriving entrepreneurship,” she said. “We’re comprised mostly of small businesses and we have some exciting new businesses that have opened that have opened this year or are opening.”

     These include a retail shop in downtown Weston, a newly opened restaurant and a distillery, MannCave Distillery, Rodgers said. Patricia Henderson, director of the Taylor County Development Authority, said her county’s economy remains stable, partially do to continued coal mining activity. “Right now we are similar with the other areas in the state,” she said. “We do have a coal mine here, and that’s certainly helping us. Leer Mine still producing and moving a lot of coal through the railroad.” The county hopes to attract more oil and gas related companies to settle in the Taylor County area, Henderson said.

     “We are trying to attract new businesses, and like all the other counties throughout the state, we are trying to recruit some of the oil and gas into our county,” she said. “In 2018, we had some property that the development authority marketed, and we did have an oil and gas company purchase that property to build some of their field offices. So we’re excited about that. That is a three-year plan.”

     Taylor County recently became the recipient of a grant that will be used to perform a broadband internet study, Henderson said. “One of the problems that we hear a lot is the fact that we don’t have high speed internet in a lot of the areas of our county,” she said. “So we’ve got a grant to do a study that will help us to asses our needs and see where our underserved and unserved areas are so we can identify them. Then we can potentially go after some federal funds to help with that.”

      

     Article By: Charles Young, WV News

101. White Oaks Development Continues Expansion

     January 17, 2019 6:47 pm Comments Off on White Oaks Development Continues Expansion

     The White Oaks development in Bridgeport, located just off the Jerry Drove Exit on Interstate 79, continues to grow and expand as more offices, retail locations and other businesses open their doors. The 472-acre business park has seen a flurry of construction activity over the past year, and developers plan to soon announce details of new projects planned there, said Austin Thrasher, White Oaks project manager. “Here pretty soon I think we’re going to have an announcement for some more earthworks construction going on for White Oaks that will develop some more pad space,” he said. “I would expect that we’ll probably be pulling the trigger within the next month and making that announcement.”

     The most recent additions to White Oaks include a 3,300-square-foot Clear Mountain Bank location and an 8,749-square-foot commercial building that houses a Starbucks and several other businesses, Thrasher said. “We’ve got the bank, and then the retail (building), with Starbucks, Elegant Nails and Bridgeport Physical Therapy that have all moved into there,” he said. “Then down the hill below TGI Friday’s we have Regional Eye Associates that just opened up there. We’ve also got Tenmile Land, a land company that opened up right across from Steptoe and Johnson.”

     David Thomas, Clear Mountain Bank’s CEO and president, said White Oaks was chosen to house the branch due to is central location. “The White Oaks community is just so vibrant right now,” Thomas said. “There is a lot of activity going on and a lot of businesses around. From that perspective, it was a big draw to provide easy access to our customers.” A multi million-dollar facility that will provide living space for senior citizens, which will be called The Crossings at Bridgeport, is also under construction and is expected to be completed next year, Thrasher said. Aubury Holmes, development manager for Smith/Packett, a senior housing and care development company based in Virginia that will operate the facility, said it will provide a variety of accommodations and services. “This will be a 94,629-square-foot senior living community with assisted living and memory care,” she said. “There will be several amenities, including physical therapy, exercise room, theater, bistro, activity space, outdoor courtyards and walking paths, van transportation to transport residents to activities within the community and a central kitchen with three meals day.” The project has a total budget of approximately $23.15 million, Holmes said.

     White Oaks, which was founded in 2008, has kept pace with its developers’ expectations for growth, Thrasher said. “It’s been very exciting for us. It’s definitely picked up pace since the development started,” he said. “It has done what I think everybody hoped it would do from the beginning. Over the last year and half or two years it seems like it has really picked up some speed.” The addition of direct flights to Washington, D.C., and Chicago out of the nearby North Central West Virginia Airport has contributed to White Oaks’ continued growth, Thrasher said. “I certainly don’t think it has hurt,” he said. “I know a lot of people with some existing businesses there have been using that a lot. I think it has serviced our area really well.” “That whole area out there has really been great for the city of Bridgeport and for the county and for North Central West Virginia,” Bridgeport Mayor Andy Lang said. “I think that it’s great they are going to continue to expand.”

     The development is divided into three sections, or “phases,” Thrasher said. “In Phase 1, which is where you see most of the buildings, we are closing in toward kind of the end remaining parcels,” he said. “Phase 2 starts with the Thrasher building and goes down to where the assisted living facility will be. They are really kicking off Phase 2 as the first people jumping in there.” In Phase 3, which is still largely vacant, developers estimate White Oaks will continue along its current growth trajectory for the next couple of decades, Thrasher said. “There is probably 20 more years worth of development to happen,” he said. “That’s the plan going forward: To build it out and hope they keep coming.”

     Article By: Charles Young, The Exponent Telegram 

     Interested in White Oaks Business Park? Click here to view the detailed marketing flyer.

102. Marcellus & Utica Shale – Activity On The Rise

     November 7, 2018 3:46 pm Leave a Comment

     Do you know Marcellus & Utica?  Let us introduce you to Mid-Atlantic’s most popular household names.

     Throughout the latter part of the past decade, most people in north central WV and southwestern PA had never heard of Marcellus or Utica. Fast forward ten years, Marcellus and Utica have become household names.  How did it all happen? What changes in the energy field have we experienced in the past decade?  Where are things heading in the future?  What challenges must we overcome in order to maximize natural gas’s potential?  This article drills down (pun intended) into Mid-Atlantic’s next energy powerhouse.

     During the first wave of oil and gas energy expansion, which started in 2008 and began declining in 2013-2014, drillers were using key geological metrics to “explore” Marcellus and Utica shale plays.  In the early years, positive results led to increased drilling activity.  Other companies took notice.  Before we knew it, north central WV and southwestern PA had a natural gas and oil boom occurring in its backyard.  Heavy drilling activity led to many service providers flocking to the area to secure profitable service contracts.  Service contract work includes all aspects of servicing a well, from start to finish, such as engineering, excavation, fracking, pressure control, water hauling, valve repair/monitoring, amongst many others.  Thousands moved to the area. Many of the workers were brought in from out-of-state because, our local workforce did not have the experience and expertise these companies needed.  Many of these workers stayed in local hotels/houses, ate at our restaurants/taverns and shopped in our malls and retail outlets.  Some businesses experienced exponential growth during this period.  As drilling activity continued to increase, OPEC nations flooded the global energy market.  Saturation led to quickly declining commodity pricing.  Once the commodity pricing dipped to a level close to or at “break even”, it no longer made economic sense for drillers to drill.  Over a period of a couple years, drillers slowed or completely halted drilling plans.  Why?  Supply outpaced the market.  Additionally, infrastructure, via pipelines, was not in place to efficiently transfer the gas to larger markets.

     For 24-36 months thereafter, Marcellus and Utica activity slowed dramatically.  Market saturation, which lead to depressed commodity pricing, were the primary culprits for the lull in drilling activity.  Most O&G drillers capped their wells and halted production.  The industry retracted and many companies went out of business or were absorbed. Major producers developed strategies to control growth and mitigate risk.  Many out of state service providers, who had moved to the region to capitalize on lucrative contracts, struggled to justify having a location within the Marcellus and Utica.  Many witnessed numerous businesses vacate in the middle of the night or file for bankruptcy protection against creditors.  In turn, this tailspin left some landlords in precarious positions with a tough decision of whether to “throw good money at bad money” in the way of hiring a real estate attorney to file suit or simply move on by looking for another tenant.  At Black Diamond Realty, we saw industrial real estate demand and office demand, albeit to a lesser extent, decrease dramatically.

     What has changed?  Has there been a resurgence?  Many have considered natural gas the cleaner wave of the future.  For decades, numerous challenges, which included regulatory, economic and intellectual constraints, existed making extraction and transmission difficult.  The story is changing. North central WV and southwestern PA are in the midst of a second wave of oil and gas expansion.  Unemployment rates are near record lows and wages are rising.  Hotel occupancy and ADR are sharply on the rise.  Restaurants are enjoying a resurgence in top line revenue.  All of this is the trickle-down effect sparked by a growing energy industry.

     There are three major economic drivers which are in various stages of planning, construction and implementation.  The first demand driver is natural gas pipelines.  Pipelines provide the infrastructure needed to deliver the natural gas to primary and secondary markets.  Simply put, northern West Virginia and southwestern PA are collectively sitting on more natural gas than the 250-mile region could ever feasibly consume.  Several, large-scale projects are in process which will forever change the landscape and natural gas economics.

     The Atlantic Coast Pipeline (ACP) project, stretching 600 miles from Bridgeport, WV through Chesapeake, VA and ending in Robeson County, NC, is currently under construction.  According to Atlantic Coast Pipeline, “The infrastructure project will generate $377 million a year in energy cost savings, $28 million a year in new local tax revenue, 17,240 new jobs in the construction industry and 2,200 new jobs in manufacturing and other new industries.”   Another major pipeline is called the Mountain Valley Pipeline (MVP).  The Mountain Valley Pipeline, stretching 303 miles from northwestern West Virginia to southern Virginia, will be up to 42” in diameter and will have a 50 foot easement (post-construction).  There will be three compressor stations along the route which include locations in Wetzel, Braxton and Fayette Counties in WV.  Both pipeline projects have faced several regulatory hurdles, including federal injunctions to halt construction, but many are optimistic the challenges will be overcome.  Many other pipeline projects are in the planning, construction and implementation phases.  ACP and MVP are just the tip of the iceberg.  According to MarcellusDrilling.com, “There is more than $23 billion in planned pipeline investment to build more than 3,200 miles of pipelines – for the Marcellus/Utica region.  If you add these 15 projects together (see chart), they will move another 17 billion cubic feet of Marcellus and Utica natural gas and 345,000 barrels of natural gas liquids (NGL) per day.”  Marcellus Drilling has provided a chart showing pipeline projects in various phases of the planning and implementation process. See below.
     The second demand driver is natural gas fired power plants.  Coal provides about one third of the United States’ electricity. Tides are turning with an abundance of gas available within the Marcellus and Utica Shale plays.  On November 1, 2018, Sara Welch of Shale Gas Reporter, wrote an outstanding article (View Article Here) which forecasts natural gas powered plant production.  A few key takeaways can be found in the following statements, “Over the next several years, 26 combined-cycle gas-tubing power plant projects are planned for Pennsylvania, West Virginia and Ohio.  Pennsylvania will house the most with 15 to be built, contributing 14,730 MW of capacity.  Ohio will be home to eight projects that would add 7,695 MW of capacity.  Lastly, West Virginia is slated for three gas-fired power projects that would add more than 2,000 MW of capacity.”  Ms. Welch went on to translate how the electric power generation will translate into natural gas consumption:  “The proposed power generation in the Appalachian Basin is expected to come on line by 2020, adding about 1.16 Bcf/d of gas demand.”

     The third demand driver, which also poses the greatest downstream opportunity, is cracker plants.  Why?  Think chemistry.  Cracker plants have sophisticated equipment in which the “cracker” takes ethane, a component of natural gas and breaks it down into ethylene.  Extreme heat is used during the process to break apart the molecular bonds holding it together.  Ethylene is the root chemical for plastics, resins, adhesives and synthetic products used in every aspect of modern life.  Our society depends on this natural gas extraction process in order to enjoy many of the end products and daily conveniences, such as plastic containers, shirts, and plastic bags.  Cracker plants and large industrial facilities are necessary to make this happen.  One is already in the construction phase.   According to MarcellusDrilling.com, “Shell Chemical Appalachia LLC broke ground in 2017 on the $6 billion complex in Monaca, PA, about 30 miles northwest of Pittsburgh.  It is Shell’s first petrochemical plant built outside the Gulf Coast in decades.”  Two additional cracker plants are in various planning stages. The two other potential cracker plant locations are Belmont County, OH and Wood County, WV.

     

     To fully capitalize on the O&G boom and recognize significant downstream economic opportunities, this region needs to overcome three primary challenges. The challenges listed below can be overcome via collaboration and cooperation amongst various public and private sectors.
     
     Black Diamond Realty continues to work to resolve some of the commercial real estate challenges.  John Denver wrote a popular song, Country Roads, in which “mountain mama” is an internationally recognizable phrase.  Our landscaping is picturesque.  Our mountains are breathtaking.  Both also create challenging topography.  Moving dirt and expanding utilities requires significant capital which ultimately drives up land costs.  Many Marcellus & Utica end-users (drillers, service providers) need large tracts of land for laydown yards, industrial buildings and eventually, as a downstream opportunity, manufacturing operations such as the plastics industry.  Industrial land is typically on the lower end of the commercial real estate value spectrum.  Industrial acreage in north central WV, on average, ranges in value from $75,000/acre to $225,000/acre.  Our mountain-filled region provides us with natural beauty and scenic enjoyment, but it also creates a reality in which there are few opportunities to secure large tracts of land at reasonable pricing.

     We would like to explore two cases that include many stakeholders, mixed with private investment, that resulted in positive outcomes for the community and business.  Both assets are currently being marketed by Black Diamond Realty.  Please spend a few minutes reviewing our detailed marketing flyer.
     __

     Speedway Business Park in Fairmont, WV

     In 1910, Michael J. Owens opened Owens Bottle Works on a 40 acre site in Fairmont, WV.  During its peak, Owens Illinois employed over 1,000 people and produced 180,000 bottles a day.  The site was operational from 1919-1982.  After closing its doors in the early 1980s, the site sat vacant for roughly 35 years.  A local entrepreneur and developer, Tom Laurita, purchased the asset with the intent of revitalizing Fairmont’s east side.  Mr. Laurita and his team, including Russell Bolyard, worked tirelessly and diligently with numerous federal, state, county and local agencies including WVDEP, City of Fairmont, amongst others.  Over a two year period, a plan was formulated then implemented to remediate and convert the brownfield site into a thriving business park.  Soil remediation, FEMA considerations and stream preservation were key factors in revitalizing this site.  For their efforts, Merit Development received 2016 Brownfield West Virginia Environmental Impact Award.  Today, infrastructure improvements are well underway and steel is rising from the once motionless dirt.  Boasting 40 acres less than one mile from I-79, Exit 137, Speedway Business Park has three new tenants with a fourth building under roof.  Explore this project via our detailed marketing flyer. Click HERE to view.
     Source:  Merit Development’s Development Conference Powerpoint slides.
     __

     Morgantown Industrial Park in Morgantown, WV

     Formerly 825 acres of farmland near the Monongahela River, today’s Morgantown Industrial Park started to take shape in December 1940.  In November 1941, the property was dubbed “Morgantown Ordinance Works” with a purpose of supporting the United States war efforts in World War II.  A plant was built to produce ammonia for army ammunition.  At its peak, the plant had more than 1,400 employees and produced about 18,700 tons of ammonia monthly.  Alcohol, hexamine and formaldehyde were also produced in the plant.  Near the end of World War II, operations ceased.  Morgantown Ordinance Works, owned by J.W. Ruby, took over the property and turned it into an industrial park.

     Fast forward several decades, and local entrepreneurs, Kevin and Glenn Adrian, purchased the park under Enrout Properties LLC.  They were attracted to the investment opportunity partially because of its tremendous access (truck, rail, river and barge) plus abundance of developable land.  The Adrians worked with state, county and local officials to create a tax increment financing (TIF) district.  According to Wikipedia, “TIF is a public financing method that is used as a subsidy for redevelopment, infrastructure and other community-improvement projects.”  Establishing a TIF in the industrial park allowed the Adrians to invest significant capital into excavation, site stabilization and infrastructure with the purpose of creating large industrial pads which are rare in north central WV.  In addition to TIF, the Adrians have worked with federal and state agencies to mitigate brownfield areas within the park.

     Today, Morgantown Industrial Park boasts 20+ diverse businesses that offer a range of industrial services and products.  On November 1, 2018, Dominion Post quantified the park’s success with the following TIF update:  “Established in 2008 with a base amount of approximately $39 million, the district was last assessed at about $79 million.”  The Adrians set out to further the legacy of 825 riverfront acres in Monongalia County.  Statistics show they have been very successful in overcoming challenges and capitalizing on industrial demand growth.  They are far from done. Dirt is currently being moved to create two 6+ acre sites and by mid-2019. The park will add over 30 acres of additional industrial sites including one site which will provide 20+ flat acres. It doesn’t stop there. Currently, the Adrian’s are working with the appropriate county and state organization looking to improve interstate access to the park which would provide over 100 acres of additional industrial sites. The Morgantown Industrial Park understands the potential downstream impact that the oil and gas boom could have on North Central WV. They plan to be ready with sites and infrastructure to support that growth. Explore this project via our detailed marketing flyer. Click HERE to view.
     Source:  http://www.uppermon.org/news/dominion%20post/DP-MIP-22Aug11.html, http://wajr.com/monongalia-county-commission-receives-good-news-on-tif-districts/

     Coal will, most likely, always be a source of energy in the United States.  It is virtually impossible to completely eliminate it as an energy source.  However, coal’s days of being the “black diamond” of West Virginia, are fading. Marcellus and Utica have taken center stage.

     

     Above Chart Source: www.eia.gov/outlooks/aeo/  

     
     Article By: David Lorenze

103. Bridgeport, WV – One of “America’s 50 Best Cities to Live”

     October 25, 2018 12:54 pm Leave a Comment

     Bridgeport Listed by USA Today as One of “America’s 50 Best Cities to Live” in Online Money Section

     In an edition of USA Today’s on-line edition, the City of Bridgeport received a little bit of love from the Money section of the newspaper. The publication released its “America’s 50 Best Cities to Live” and Bridgeport made the cut. In fact, it was the only municipality in the Mountain State to make the list.

     Bridgeport came in at No. 46. The Web site states that “24/7 Wall Street created a weighted index of over two-dozen measures to identify the best American cities to live in. The communities on this list span the country from coast to coast but are disproportionately concentrated in the Midwest.”

     According to the article, in the city “45.3 percent” of adults have graduated from college, nearly the highest share of cities in the state. The high college attainment rate has likely contributed to the town’s relatively high median household income of $80,462 a year.”

     Click HERE to see the entire list.

     Editor’s Note: Photo from www.benqueenphotography.com.

     Connect Bridgeport, By Jeff Toquinto on October 24, 2018

104. October Newsletter: Few Opportunities Remaining at I-79’s Hottest Exit…

     October 8, 2018 7:35 am Leave a Comment

     View our October Newsletter: Few Opportunities Remaining at I-79’s Hottest Exit…

     Click Here!

105. Mon Health EMS gets new Gateway facility

     September 24, 2018 12:52 pm Leave a Comment

     Mon Health EMS officials were at The Gateway on Sept. 20 to show off their new digs — a two-story, 15,780 square-foot facility that serves dual roles as doctor’s office and EMS substation.

     While the  majority of the building houses Wedgewood Family Practice, roughly 1,000 square feet of the building contains a drive-through vehicle bay large enough for two ambulances and the needed accommodations — a day room with a kitchenette, seating and television, office space with multiple work stations, storage and restroom facilities.

     Mon Health EMS Director Dave Custer saidEMS operations began rolling out of the new facility earlier this month. “This is replacing and upgrading our station we had in Osage,” he said. “It’s a better location for us to respond, not only to the interstate quickly, but to Star City, Westover and the Blacksville area.” Custer said one ambulance is operating out of the new building, but a second could be added permanently or temporarily in the event of anticipated traffic disruptions or other circumstances. He went on to say that Mon Health EMS is looking at the Grafton Road area and the Pierpont/Cheat Lake area for additional ambulance staging locations.

     The agency already has an agreement with the Blacksville Volunteer Fire Department that allows an ambulance to be staged at the fire station. “By having stations out in all four quadrants of the county, we really can cover this county pretty well,” Custer said. Mon Health invested $5 million to build and equip the entire facility.

     Ben Conley, The Dominion Post
     __

     Are you interested in The Gateway as a new or additional location for your business? Click HERE to view our detailed marketing flyer for The Gateway and see what’s available within the park.
     

106. Gee announces program for heart transplants

     September 20, 2018 3:05 pm Leave a Comment

     In many ways, WVU President Gordon Gee said, the land-grant university he leads is the heart of West Virginia. The university, in turn, put its recent focus on the hearts of West Virginia.

     WVU reinforced that commitment Wednesday with the announcement of the state’s first heart transplant program, to be part of the WVU Heart and Vascular Institute. Gee was joined by West Virginia Gov. Jim Justice and WVU Medicine President and CEO Albert Wright, among others during a press conference held in the institute’s first-floor conference room.

     According to a WVU Medicine press release, a letter of intent was filed with the West Virginia Health Care Authority on Aug. 10. A certificate of need was filed Aug. 20. Wright said he anticipates the program will be up and running in 2019. He explained that WVU invested hundreds of millions in heart and vascular care over the last three years, including the construction of a 10-story, $200 million tower attached to J.W. Ruby Memorial Hospital and the recruitment of Dr. Vinay Badhwar to lead the institute.

     “What we’ve found is when we put people, programs and the physical plant together, we can really do magical things here,” Wright said. “The results we’ve seen in these last 24 to 36 months are nothing short of amazing.” Badhwar said those results include the creation of the state’s first advanced heart failure program and the implementation of emerging artificial heart technology. There are currently 22 West Virginians awaiting a new heart. Being on a heart transplant list requires the patient live within four hours of a transplant center.
     

     “What we’re trying to do is make sure people have the best possible health care in West Virginia. We should not have people going away to other places,” Gee said. “There’s no reason people should not come to this beautiful state and get the best possible health care, and that’s what we’re celebrating today. I want all of you to know you’ve made possible something very special.” Justice said the strides both West Virginia and WVU have made would be unbelievable as recently as 20 years ago. “Think about John Doe in West Virginia, how much he needs you. How much he needs the ability to not have to travel all over the place for decent health care, how much he needs you to be a star,” Justice said, later adding, “I mean it. There’s no way to be more proud of our state university than I am.”

     Gee noted that heart disease is the state’s leading cause of death. He said WVU and WVU Medicine has the talent and determination to tackle it head-on. “If we have the will and courage to be great, we will be,” he said.

     Ben Conley, The Dominion Post 

107. Possible new interstate exit

     September 19, 2018 5:31 pm Leave a Comment

     Westover mayor seeks support for possible new interstate exit

     Westover Mayor David Johnson encouraged citizens of Westover and council members to attend an upcoming Morgantown Monongalia Metropolitan Planning Organization meeting to show support for a possible new exit coming out of the Industrial Park.

     Johnson informed Westover council members about the meeting at the Westover city council meeting Monday. The MPO meeting will be from 4-7 p.m. Thursday, September 20th. “This Thursday, we have an MPO meeting at the council chambers,” he said. “What they are going to discuss is the possibility of another way in and out of this Industrial Park out here. The first initial idea was to go on past, out to where the overpass goes over the interstate and make that a full-fledged exit.”

     Second ward council member Leonard Smith said, “I thought that’s what they were going to do.” Johnson said with studies on various possibilities, alternative routes and ways of doing things are necessary in case of problems arising, but the exit would be a good thing for Westover and its residents.

     “The first option that we discussed was coming out where the Master Graphics Road is,” he said. “Just before you get to the overpass, there’s a road that turns down to your left. They want to come out of the Industrial Park and come out about where that road comes out because that Industrial Park comes clear out almost to the interstate, with the exception of a few properties between the two. They would have the off and on ramp there.” “The significance of this is that we would be able to get about 90 percent of this big truck traffic out of Westover because about 90 percent of it will be able to get off and on at that exit, and we’d never see them on Dupont Road or on our streets, making the turns down there by the bank. You’d still have some local traffic, but you wouldn’t have the traffic like the big garbage trucks, especially the sand trucks from the oil and gas industry. They could all use that exit, and they’d be right on the interstate.”

     Johnson said another benefit would be for the residents that live near the Industrial Park. “That coupled with the fact that everyone who lives out that way will not have to come all the way down by the school, all the way out Dupont Road, all the way down to the interstate,” he said. “They can get on the interstate right there and switch on and off. It will be very successful.” Johnson said funding would be the main issue to work through. “The exit at Star City is going to be completely redone in the next year and a half or so, and that money, that’s going to be funded by TIFF money. They already have the money for that” he said. “The problem with this new exit, or whatever alternative route we decide on, there’s no funding for it yet.” “I do know this much, the MPO is going to put in whatever we decide on, they are going to put in for a—they have to change their long-term control plan and get that approved by the federal government. It’s going to be a process.”

     After the meeting, Johnson issued a statement requesting residents to attend. “The meeting on Thursday is very important,” he said, “and I’d like to reach out to a lot of people that live on River Road and in that area, and everybody in Westover because we are being impacted by the trucks here in Westover. Not only do the people of River Road have to come through Westover and deal with that truck traffic as well, so they can just jump on the interstate.” “I think the important thing is to have a good showing and have people here to voice their opinions to the MPO, and the people at the MPO will listen. They’re open-minded. Several of us think this interchange is the best option we have to look at.”

     Rachel Ellis, For The Dominion Post

108. September Newsletter: Award Winning Investment Opportunity Revealed

     September 6, 2018 7:00 am Leave a Comment

     View our September Newsletter: Award Winning Investment Opportunity Revealed

     Click Here!

109. August Newsletter: Big Things Happening for Black Diamond Realty

     August 7, 2018 9:19 pm Leave a Comment

     View our August Newsletter: Big Things Happening for Black Diamond Realty

     Click Here!

110. Area Hotel Occupancy on the Rise

     August 6, 2018 1:09 pm Leave a Comment

     Monongalia, Preston enjoy hotel occupancy spike that beats even state’s solid year
     

     As West Virginia tourism officials celebrate increases in hotel occupancy, the numbers in Monongalia and Preston counties outpace even the state’s rise. Gov. Jim Justice recently touted a 16.1 percent increase in statewide hotel occupancy comparing June 2018 to June 2017. The local area has enjoyed a 17.9 percent hike in that same comparison, said Susan Riddle, executive director of the Greater Morgantown Convention and Visitors Bureau.

     “We put a pedal to the metal since the beginning of last year, and we haven’t looked back,” Riddle said, adding that she can look at any month and see an upward trend in bookings. Justice also said there was a 20 percent revenue increase in a year-over-year comparison to June 2017. In Mon and Preston, revenue was up 20.2 percent June over June. Every region of the state has seen increases, Justice said, with the first two quarters of 2018 showing hotel occupancy up 11.7 percent, with revenue growth of 14.9 percent.

     “One of my first decisions in office was to launch a new tourism campaign that would spread that message like never before,” Justice said July 25. “West Virginians should be proud of what we’ve done here, because it takes all of us, telling our story and rolling out the welcome mat, to make this happen.”

     “From day one, the governor had a vision for what could happen with West Virginia tourism,” said state Tourism Commissioner Chelsea Ruby. “The success we’ve seen this year is a direct result of that vision and the governor’s commitment to growing our tourism industry. Tourism means jobs, and the numbers that the governor released today translate into more West Virginians working in a sector that still has enormous room to expand.”

     STR, a global hotel research company, reported the statewide hotel occupancy rates. In Mon and Preston counties, there has been a significant increase since January 2017. Riddle said that means jumps in all categories from occupancy to revenue to demand. Mon and Preston have 28 lodging properties combined, resulting in 2,600 rooms available daily. Filling up those rooms with travelers generates sales tax dollars.

     “We target everything we do. Our mission is one more night, one more dollar. It’s as simple as that. We don’t need to make it any more complicated,” Riddle said. “For every $100, CVB receives $3. It’s not just about people spending the night to go ahead and generate lodging tax, it’s what are they doing while they’re here.”

     That entails looking at the four types of tourists Riddle claims frequent this area:

     Adventurers and explorers (the largest group),
     attendees,
     planners
     and relaxers.

     “For us, our big draw, we have a synergy that is the combination of a lot of different benefits,” Riddle said. “We sell our region. We connect our local area with our audience.”

     BY AMANDA SAVAGE DEPROSPERO,  The Dominion Post

111. Summer Fun with Black Diamond Realty

     August 2, 2018 6:00 pm 1 Comment

     The warmer months are filled with heavy commercial real estate activity. Prospects are looking for market opportunities and deals are getting done at a rapid clip.

     On the personal front, summer is also filled with travel, family time and fun adventures. Click on the button below to see a sneak peak of what our team has been up to this summer.

     Mark Nesselroad: Mark J. Nesselroad:  “Mark and his family are holding onto summer as long as they can.  Some of their favorite parts include spending time outdoors, enjoying extra garden vegetables from Mark’s father’s garden, family birthdays, and splashing at the pool.  Mark and his son enjoyed WVU baseball’s unique father/son camp at which they camped overnight in a tent at Monongalia County Ballpark.  His family also adopted a new family member – a 1.5 year old black and tan coonhound named Lucy!

     David Lorenze:  Armed with a small computer in his pocket, David was able to enjoy several trips while staying on top of deal activity.  David enjoyed a relaxing trip to Sandbridge, VA with his in-laws, explored the growing area of North Myrtle Beach with his parents, sister and three small kids, plus adored some quality time with his wife while attending a wedding in Las Vegas.  David’s favorite memory from the summer was seeing his two young daughters work together to capture sand crabs.  Their expressions were priceless!
     

     Murphy Holloway:  Murphy has made great progress towards earning his CCIM designation.  In June he attend the User Decision Analysis for Commercial Investment Real Estate course in Denver, Colorado and just got back from Dallas, Texas for the Investment Analysis for Commercial Investment Real Estate course.  He has completed all of the required courses and is excited to take the final cumulative test to earn his designation.  Murphy is deeply rooted in Wheeling, WV and has enjoyed multiple trips “back home” to visit with family and friends.
     
     Jeff Stenger:  While Jeff’s primary focus this summer was establishing and maintaining client relations at Black Diamond Realty, he was able to get away for a long weekend at a cabin with friends at Deep Creek Lake.  Jeff is looking forward to seeing his sister and her family in Charlotte, NC next month when WVU plays Tennessee at the Belk College Kickoff Classic.

     Janelle Zeoli:  As a native of eastern Pennsylvania, Janelle made the decision, along with her husband, to move back to their hometown in Morgantown, PA.  It was a tough decision but they have deep roots in this area.  They hope to soon find their permanent location and purchase their first home.  In her free time, Janelle enjoys creative crafts and spending time with her husband and their German Shepherd dog, family and friends. She looks forward to making the trip out to West Virginia each month to reconnect with the Black Diamond team.
     At Black Diamond, we work hard to maintain a positive and healthy work-life balance. Our substantial growth over the past two years can be credited to our team approach and family atmosphere. In an effort to continue providing top-shelf, quality performance/results to our clients, Black Diamond recently expanded its human capital with the additions of Chris Waters and Jeff Wise. They both bring diverse, extensive and credible experience to our team.

     
     Chris Waters, Associate – Read Full Bio
     

     Jeff Wise, Associate  – Read Full Bio

     In addition to North Central WV (Bridgeport/Clarksburg to Morgantown), our expanded, strong team of 7 allows Black Diamond to broaden its focus to other areas of our great state and throughout southwestern PA. We look forward to becoming more heavily involved in the Uniontown, Waynesburg, Washington, and Wheeling market areas. Black Diamond is a chamber of commerce member of the three counties that collectively constitute its “back yard,” and we look forward to being more heavily involved in additional communities.

     From our family to yours, we wish you a summer filled with many more great memories. Cheers to exciting times that lie ahead!

112. Development at Fairmont’s old Owens-Illinois site underway

     July 26, 2018 1:48 pm Leave a Comment

     After 30 years of inactivity, the site of the old Owens-Illinois glass factory is finally seeing new development, as a Morgantown developer has committed to reinvigorating what’s now being called the Speedway Business Park.

     In 2015, Merit Development, LLC purchased the land in east Fairmont with hopes to capitalize on the growing economic status of North Central West Virginia, according to Merit Development President Tom Laurita.

     “With the growth of Morgantown and the Bridgeport/Clarksburg area, we felt that Fairmont has become sort of a sweet spot and is in a position to experience growth in the near future,” Laurita said.

     In the years since the purchase of the property, Laurita and Merit Development Asset Manager Russell Bolyard said that plenty of behind-the-scenes work has been underway, despite development itself not starting until June 1 of this year.

     “We’re really still in the early preliminary stages of development,” Bolyard said. “We’re moving the earth. There was a lot of prep work since 2015 that went into the permitting and the cleanup of the site to prepare it for constriction … All of that work had to be done in order to start the earth work…

     “It was a good bit of work. There was testing and the studying of the area, and then the development of the cleanup plan and the cleanup. It took about two years. We got our final completion report in late January of this year,” he said.

     In addition, Fairmont City Planner Sandra Scaffidi said Merit has been doing some heavy work to make sure that, once completed, the park won’t be affected by heavy rainfall or flooding.

     “They’ve been working with FEMA to change the flood-way there to create more developable land,” Scaffidi said. “There’s a channel that runs right through the property, Originally, it was wide and shallow, so now they’re making it narrower and deeper. It’ll retain the same amount of water, but create more developable land.”

     Bolyard said that Merit is about 25 or 30 percent finished with the earth-moving, with hopes to be fully completed with this phase of development by the end of autumn.

     The development, Bolyard said, would be a huge boom to the area, bringing in businesses, jobs and hope to Fairmont.

     “The area is zoned industrial right now, and so it a commercial aspect to that and light industrial work could be done there,” Bolyard said. “We hope to attract business that will improve that area. We’re hoping to provide more jobs and be an asset to Fairmont.”

     Scaffidi agreed, and said that the park, once completed, could change the face of the east side for the better.

     “Aside from bringing quality jobs into our area and increasing our tax base, they are reusing a piece of land that was considered a Brownfields site,” Scaffidi said. “We can’t make new land in Fairmont, so we have to reuse what we have. I think they are creating a whole new energy on east side, putting new businesses there and encouraging new development.”

     Earlier in July, Bolyard and Laurita attended a Fairmont City Council meeting, hoping the city would go along with their plan to name the park’s future roads Glass Avenue, Bottle Works Avenue and Progress Street, each named in dedication to the work done at the site before Merit’s involvement. The council unanimously passed the ordinance to name the streets.

     “The actual naming is a play on the historical significance of the site with the Owens-Illinois glass factory,” Laurita said. “It was a major employer at one time, and there’s a lot of history in glass-making on that site, so we saw the history and decided to continue that and make sure people remember what was there and how great it once was. Hopefully, we can bring it back.”

     Bolyard shared his sentiment, and said that with the new park, they hope to bring the site back to its former glory.

     “It was a productive area at one time,” Bolyard said. “Over 1,000 people were employed there. We actually named one of the streets that will go in there ‘Progress Avenue.’We’re working with the city to bring that area back into a progressive state. It was dormant for over 30 years. We hope people tolerate us while we’re here doing the work so we can bring it back into a progressive state.”

     While the park is still a long way from completion, work is being done every day, and Laurita said that soon Fairmont will be treated to a high quality, well-maintained business park.

     “I hope it becomes a fully developed, vibrant community business park — a place where Fairmont residents can have a place to work and hopefully shop and whatever they need to do in the area. We can create a vibrant community once again on the east side.”

      

     Staff writer John Mark Shaver can be reached at 304-844-8485 or jshaver@theet.com.

113. July Newsletter: Closed Transactions Reach Record High

     July 9, 2018 7:00 am Leave a Comment

     View our July Newsletter: Closed Transactions Reach Record High

     Click Here!

114. April Newsletter: Deals Closed Record, New Offerings and Grand Openings

     April 3, 2018 7:00 am Comments Off on April Newsletter: Deals Closed Record, New Offerings and Grand Openings

     View our April Newsletter: Deals Closed Record, New Offerings and Grand Openings

     Click Here!

115. White Oaks continues development in 3-phase build-out

     March 28, 2018 9:17 am Comments Off on White Oaks continues development in 3-phase build-out

     White Oaks continues development in 3-phase build-out. The White Oaks planned business community comprises 470 acres that are home to offices, FBI support services, medical support services, oil ad gas businesses, national retailers, restaurants and vital amenities.

     Located at the intersection of Interstate 79 and W.Va. 279, the busy corridor sees an estimated average of 48,500 vehicles per day. It is adjacent to the $350 million United Hospital Center, at the doorstep of the FBI’s CJIS Division and the Biometric Center of Excellence. White Oaks is also located in the heart of Marcellus Shale play.

     Retail Village Building 1 is fully occupied, with the newest tenants being Rominger Dental, Bonnie Belle’s Pastries and Hermasilla’s Deli. They all opened their doors in 2017.

     Retail Village Building 2 is under construction, with the first tenant to be Starbucks, Bridgeport Community Development Director Andrea Kerr said.

     Starbucks occupies 2,200 square feet of the 8,749-square-foot building located directly across from Building 1, she said.

     “Starbucks is estimated to cost about $175,000, while the entire Retail 2 shell is $884,320. The second building will be similar in size to the first one, with room for additional tenants,” Kerr said.

     Thrasher said Starbucks will be located in the far right end of Retail Village 2 and feature a drive-through.

     “We are looking to turn over that portion of the building to the company by June 1,” Thrasher said. “It will also have a 550-square-foot patio. I anticipate it opening late this year.”

     Cove Run Construction is doing the site work on Retail 2. Lee Reger Builds is the building construction contractor.

     “There are four more bays available, with interested parties in discussion. We have no final contracts at this time,” Thrasher said.

     Clear Mountain Bank will be located directly behind Retail Village 2. Cove Run is doing the site work.

     “They are about ready to bid the architectural work,” Thrasher said. “Regional Eye Associates will be located near Friday’s, with Cove Run preparing the site and Elite Custom Builders doing the construction.”

     Phase II and Phase III are being marketed now, with Elite Custom Builders to be located across from the W.Va. 131 entrance to White Oaks near Bear Express and the Shell fuel station in an area referred to as The Wedge, Thrasher said.

     

     A large vehicle dealership, Freedom Kia, opened in 2017 in Phase III of White Oaks, located off W.Va. 131.

     Hermasilla’s Deli Market, a longtime staple of the Fairmont community, recently opened the doors to a 32-seat second location at White Oaks.

     Along with its signature sandwiches — which feature hand-sliced meats, a wide selection of cheeses and an array of toppings, condiments and vegetables — the establishment also offers salads and sells meats and cheeses in bulk.

     “White Oaks has been very aggressive in developing their property. They don’t stop in the winter. It is a year-round operation,” Kerr said. “It is good for them and great for us. It is a fantastic partnership that we hope to see continue for many more years.”

     Craig Baker, Architecture Division manager for the Thrasher Group, agreed with that sentiment.

     “White Oaks should be commended for their steadfast commitment to the architectural design covenants of the park. They had a vision of what they wanted the park to be and stuck with it,” Baker said. “One thing that makes White Oaks special is how they continually strive to maintain their identity as one of West Virginia’s premier business locations. With the addition of the park and trail system, White Oaks has maintained its identity as a great place to work and play.”

     White Oaks Phase II does not currently have any lots sold. It is located just past the Manchin Clinic Assisted Living Facility that opened late last year.

     Thrasher explained that while Phase I and II are primarily billed as a high-end business park, Phase II will also be for industrial use. Freedom Kia is the first business to locate in that area.

     Freedom Kia was previously located on Emily Drive. However, it began to outgrow its space and decided to move in October.

     “It came to a point where the volume of sales, our service department could not support. It was a situation where to continue to grow and provide our customers the support and service we want them to continue to have, we needed to give them a facility to be able to do that,” General Manager Jadd Buchanan said.

     The dealership facility cost around $5 million, an investment that allowed the company to stay local.

     “This became our home. We built a business here, and we didn’t want to abandon the customers we had sold to or serviced over the years,” Buchanan said. “We wanted to provide a location that was much more user-friendly as far as access — now it’s right off I-79, Exit 125 on Saltwell Road. It’s easier to get to for our employees who live in the area, and our residents in this direct area, so I think that was an easy decision.”

     In its new location, Freedom Kia has tripled the size of its service department, having gone from four lifts to 12, and added a substantial amount of inventory. The space also includes a car wash, which is complimentary when a car is brought in for servicing, and it’s generally more accessible.

     General Sales Manager Dorsey Larew said the larger facility has several perks.

     “We can house more mechanics, and therefore get you in and out faster. Sales display was a little tough when you’re parking in a parking lot versus an actual dealership that was built for that, so that’s been good,” Larew said. “With the lot, you can drive around and be able to look at all of our cars without having to get out of yours.”

     Located at 97 Joy Lane near Bridgeport, accessibility is a prime feature of the new location.

     “We’re a lot more convenient to get in and out of,” Larew said. “Going down Emily Drive, it was tough to get in and out.”

     In addition to offering online credit applications and service appointments, a two-year maintenance plan and a lifetime of state inspections on every car purchased at the location, Freedom Kia also has people who truly enjoy their work, said Jeannie Boyles, who has been the receptionist for six years.

     “We have great people who work here. They’re dedicated, friendly, and are happy to be here,” Boyles said. “That’s important for the company — to be able to come to work and know what you’re doing. It brings a lot of customers in from around the area, and the customers appreciate that, knowing we care about them that much.”

     For the future, Buchanan is looking forward to continued growth and being able to enhance customer service even more, staying focused on giving every individual personal help. At the new location, Freedom Kia offers several complimentary amenities, including local transportation, a kids entertainment room, and more.

     Baker-Hughes owns a parcel in Phase III, but there has been no word on the future plans of the company for the site, Thrasher said.

     “We work with other developers, but own main developer is White Oaks Business Park and we work with Black Diamond Realty, Morgantown.

     Staff writer Darlene J. Swiger, The Exponent Telegram

116. FBI’s headquarters project to bring hundreds of positions to Clarksburg facility

     March 21, 2018 10:56 am Comments Off on FBI’s headquarters project to bring hundreds of positions to Clarksburg facility

     Hundreds of jobs are expected to be shifted to the FBI’s Criminal Justice Information Services (CJIS) facility in Clarksburg as part of the FBI Headquarters Consolidation Project.

     The U.S. Senate Committee on Environment & Public Works held a hearing Wednesday morning to discuss that project with representatives of the FBI Finance Division and the General Services Administration (GSA) Public Buildings Service.

     “In the revised plan, there is a plan if consolidation occurs downtown, the CJIS Center in Clarksburg would have several hundred jobs moving into West Virginia,” U.S. Sen. Shelley Moore Capito said during the hearing. “That would be an important development for me, obviously, as that facility continues to grow and become more professional and more highly technological. We would welcome that prospect of having those employees move out into West Virginia, as many have moved there before and have realized the wild and wonderful live is a pretty good one out in West Virginia.”

     The FBI Headquarters Consolidation Project began as a means to replace the J. Edgar Hoover (JEH) building that the FBI has occupied since 1974.

     Richard L. Haley II, assistant director of the FBI’s Finance, Facilities and Real Property Division, said while the mission of the FBI has evolved, the building itself has not kept pace and is instead falling apart as evidenced by crumbling facades and deteriorating infrastructure.

     “This makes it difficult to address rapidly developing threats and collaborate across divisions and programs,” Haley said. “As an organization, we must be able to stay current with constantly changing technologies that make our jobs both easier and harder.

     “Simply put, the existing J. Edgar Hoover building is obsolete, inefficient, and faces a number of security vulnerabilities,” he said.

     Thus the current J. Edgar Hoover building would be demolished and the construction of a new building would occur on the same site.

     During the construction phase, FBI employees would relocate to “swing space,” such as the Clarksburg facility while the existing facility is under construction.

     In total, the FBI will be moving more than 2,500 positions — both employees and contractors — to its owned facilities across the nation, which includes not only Clarksburg but also Huntsville, Alabama, Pocatello, Idaho, and Quantico, Virginia.

     “It is anticipated that several hundred positions could be shifted to FBI facilities in Clarksburg, West Virginia and Pocatello, Idaho, while the remainder would be realigned to Huntsville, Alabama,” Haley said. “The FBI already has a substantial presence in each of these communities.”

     The FBI previously proposed a procurement that would have moved forward with constructing a new suburban facility, but upon a review of real estate costs and footprints, it was decided that demolition and reconstruction would be less costly.

     Together, the FBI and GSA began to review and seriously consider the possibility of staying at the current location, determining multiple advantages to doing so, including the property’s proximity other departmental headquarters, inspection facilities, utility plants, Metro lines and road and bus networks.

     Thus, a plan to rebuild on the site began. As part of the evaluation, three options were considered: a phased renovation of the existing building, a renovation of a fully vacant facility or a demolition of the current facility and construction of a new building on the site.

     “A phase renovation, we determined, would take 15 years, cost more money and deliver you a less successful product than demolishing and rebuilding a new structure,” said Daniel Mathews, commissioner of the GSA’s Public Buildings Service. “New construction allows us to build a facility that can house 8,300 people, instead of a smaller number in a renovated facility. In addition, new construction can mitigate security threats more effectively with tailored designs, newer materials and current construction techniques.”

     Overall, Mathews said, the demolition-rebuild allows for the facility to be built faster, cheaper and with less risk than a renovation.

     However, the demolition-rebuild is estimated to cost $3.3 billion and require 6 years to occupancy, which makes the relocation of employees to facilities such as Clarksburg’s CJIS vital.

     “These other sites that we have identified have been part of our physical portfolio for many years, and while the way forward includes enhancing the use of these sites, these sites are not new to the FBI,” Haley said. “The FBI’s long history at these locations suggests that the functions and staff realigned to those locations can be successful in performing mission operations.”

     Posted by Brittany Murray, AJR NEWS NETWORK

117. An Increase In Leads Generates Closed Deals

     March 6, 2018 10:23 am Comments Off on An Increase In Leads Generates Closed Deals

     Historically, the commercial real estate market tends to slow during the winter season. At Black Diamond, we can confidently report the trend is quite the opposite this year. The new year has brought a vibrant market filled with deal making attitudes. For example, Black Diamond Realty has gained nearly 100 unique leads between industrial, investment, office, land and retail. These statistics are from folks who specifically reached out to us. There are countless others our team has targeted for product specific offerings.

     Leads translate into deals. Deal velocity is trending up. In quarter 1, Black Diamond Realty closed five deals in 2016 versus eight deals in 2017. With several weeks to go, Black Diamond Realty has already closed (leases and sales) 12 deals with a strong pipeline. Check out next month’s newsletter to get a snapshot of our Quarter 1 deals.

     Leads and deals have picked up across all sectors of commercial real estate, but there are shining stars setting the pace. Black Diamond Realty’s Top 5 Performers are revealed below.  These statistics are provided by LoopNet and represent a 90 day period from December 1, 2017 through the end of February.

     Investment:  160 Fayette Street in Morgantown, WV
     45,146 Search Displays
     743 Listing Views

     Special Purpose/Event Center/Land:  Heston Farm (Upper Level) in Pleasant Valley, WV
     42,462 Search Displays
     401 Listing Views

     Industrial Land:  Ventura Drive in Fairmont, WV
     20,460 Search Displays
     289 Listing Views

     Sabraton Plaza:  1397 Earl Core Road in Morgantown, WV
     18,202 Search Displays
     219 Listing Views

     Industrial/Land:  1524 Grafton Road in Morgantown, WV
     17,590 Search Displays
     171 Listing Views

     A “search display” means a property was displayed as a potential fit based upon the criteria input by a specific buyer/tenant.  A “listing view” means that an individual clicked specifically on the property.  All of Black Diamond Realty’s Loopnet listings are directly linked to its website (www.blackdiamondrealty.net) which generates even greater exposure.

     At Black Diamond, we feel the regional market is heading in a positive direction on many different fronts.  Momentum is quickly building with tremendous economic excitement to come in the months and years ahead.  Buckle up and enjoy the ride.

118. Legislators Updated on China Energy Deal

     January 10, 2018 10:26 am Comments Off on Legislators Updated on China Energy Deal

     Commerce Secretary Hopes China Energy Project Will Begin This Year.

     CHARLESTON – Commerce Secretary Woody Thrasher offered legislators a few new tidbits — though still no specifics — on the $83.7 billion China Energy agreement. Thrasher addressed a Jan. 9 joint meeting of the interim Natural Gas Development and Energy committees. Answering a question if this is a deal to simply sell off our resources, he said no. “It is bricks and mortar facilities for the purpose of generating value-added products in the petrochemical industry.”

     The immediate goal is a single project, though he wouldn’t say what it is. “We are working actively on that project one step at a time.” He continued, “Our goal is to expedite the initial project as quickly as we can for a variety of reasons. And I’m hopeful that the details of that begin to unfold in the next few months.” He hopes to see some construction by the end of this year, he said.

     Most people guess that the unspecified projects are some sort of manufacturing facilities that would use the products generated from cracker plants being developed for the region. Thrasher speculated that the majority of the market for the China Energy-related projects would be overseas, predominately China. But the focus is on employing local residents in businesses that pay taxes to West Virginia, and selling the products those businesses produce. “It makes sense from a business model.”

     Thrasher said he had no specific timeframe for any aspect of what’s unfolding, but during three visits with the people from China Energy, he’s seen a “great sense of urgency.” He’s heading back to China on Saturday, he said, to meet the company’s new board. “These are big projects. They’re significant.”

     Thrasher said last week’s announcement from Appalachia Development Group – a subsidiary of Charleston-based high-tech firm MATRIC – provides an important step forward. The group announced on Jan. 3 that it was invited to submit a Part II Application for a $1.9 billion U.S. Department of Energy loan guarantee to support the development of infrastructure for the Appalachia Storage & Trading Hub, which would store natural gas liquids for a regional plastics industry.

     The group said that the American Chemistry Council believes the hub would serve as a catalyst for the creation of an estimated $36 billion in follow-on petrochemical investments and more than 100,000 new long-term jobs, drawing resources from Marcellus, Utica and Rogersville shale deposits.

     Thrasher said that the Department of Energy’s action “has significant impact in terms of the risk level of folks coming in.” Jim Crews, vice president of business development for MArkWest Energy Partners, offered the legislators additional prospective on the region’s potential.

     “The United States, and the Appalachian Basin, is the Saudi Arabia for the production of natural gas liquids,” he said.

     Colorado-based MarkWest is a midstream gas processor with three West Virginia facilities. It’s Sherwood plant in the Doddridge County is the nation’s fourth largest and will soon be expanded to become the largest. He offered a somewhat technical slideshow on how the gas liquids – ethane, propane and butane – are separated from the methane and sent on for further production.

     The wet natural gas in this region, he said, contains enough ethane – used in light plastics – to feed six cracker plants. Some of it now gets shipped south to the Gulf for processing, but most goes to waste because it’s too expensive to ship and there’s no industry here yet to process it.

     Article By David Beard, The Dominion Post

119. Happy 2018! Another Year Is In The Record Books

     January 3, 2018 5:17 pm Comments Off on Happy 2018! Another Year Is In The Record Books

     We hope you and your family had an enjoyable holiday season. The new year is a time to reflect and project. This monthly Black Diamond Realty newsletter reflects on 2017 while providing our projections pertaining to north central West Virginia’s economic activity in 2018.

     It was a record breaking year for Black Diamond and many other companies in north central WV. While north central WV remains consistently vibrant, the tides are slowly turning for the state as a whole, and WV’s entire economic fleet appears to be heading toward brighter days. Several critical sectors led the charge with positive economic announcements in 2017.

     Energy was the cream that rose to the top. Several large pipeline projects are at various stages of construction with the finish line inching closer. Pipelines open up regional, metropolitan markets to WV’s gas production. A cracker plant is under construction in Beaver County, PA with rumors of potentially two additional crackers being built in OH and WV (Parkersburg area). Crackers dissect elements of natural gas into various chemicals which should result in a manufacturing expansion for companies who want to be near critical elements of their production process. Pipelines and crackers are creating a newfound buzz for the energy sector. Black Diamond can testify to the energy sector’s expansion in 2017: Industrial sector leads paced other sectors with a total of 133 unique leads. Black Diamond closed 13 deals with energy related entities.

     The buzz does not stop at our state or even national borders. China Energy Investment Corp signed a memorandum of understanding with WV leadership to invest $83.7 billion over 20 years in various energy related ventures.  Power plants are one potential investment angle. Two gas fired power plants are at varying phases of approval to be constructed in the region. One is in Harrison County. Click here to learn more: http://harrisoncountypower.com/  Oil and gas activity is energizing our regional economy by bringing high paying jobs to our market. The money from these jobs is spent on housing (hotels, apartments), food (grocery stores, restaurants) and entertainment.

     Infrastructure has been a hot topic in West Virginia for many decades. Band-aids have been our state’s application of choice. However, 2017 brought a different style of leadership aimed at changing WV’s story. Governor Justice and his team formulated a plan to use future promised tax dollars to secure ~$3 billion worth of funds to complete road infrastructure improvement projects. Our roads have already benefitted from the Roads to Prosperity Amendment and should improve further over the next decade. Infrastructure is a critical variable for many sectors considering economic expansion.

     Since accepting his role as WVU’s 24^th President, Dr. E. Gordon Gee has been focused on expanding the university’s outreach while maintaining its mission of supporting prosperity for the mountain state. WVU Medicine has been aggressively expanding with 2017 announcements that include a $150 million, 10-story children’s and women’s tower on WVU Medicine’s main campus, a $12 million inpatient residential drug treatment facility near Mylan Park (Morgantown), plus it opened a $13.9 million, 25,000 square foot new outpatient facility in Fairmont, WV. Mon General Hospital is also in expansion mode. North central WV should welcome this “medical arms race” as it directly results in a higher quality of life via greater healthcare access, plus economic benefits, including high paying jobs.

     So, what do we have to look forward to in 2018? The energy sector will carry 2017’s momentum into the new year and we will begin to see the fruits of the road bond’s labor as construction projects start. with the additional expansion by WVU Medicine and two prominent interstate developments (White Oaks Business Park in Bridgeport and West Ridge in Morgantown), north central WV will see significant growth with many positive announcements. As the aforementioned economic drivers come to fruition, other areas in the state are also poised for growth. Also, since businesses will have greater discretionary capital to put to work under Trump’s new tax plan, look for businesses to be more aggressive with expansion efforts and hiring practices.

     Best wishes for a joyous and prosperous 2018!

120. The Retail Apocalypse Is Not Among Us All

     November 30, 2017 4:38 pm Comments Off on The Retail Apocalypse Is Not Among Us All

     “The Retail Apocalypse” is a great catch phrase that grabs attention. News outlets make sensational claims that Amazon is destroying the retail sector and that, across the board, retail real estate is in big trouble. These claims are overstated and misguided. The retail industry isn’t dying, but rather evolving. The following article will explore three topics: retail real estate that is in trouble, retail real estate that is well positioned and the perceived 400-pound gorilla in the room, Amazon.

     Enclosed malls are facing the most trouble right now. While foot traffic in enclosed malls continues to decline¹, the significant operating expenses from expansive common areas remain. Assets in secondary and tertiary markets are particularly at risk. Businesses most affected by the retail apocalypse are retail clothing and electronic stores in enclosed malls. We will see malls close soon. However, many malls will be reinvented with new and innovative uses. Across the country we are already seeing “dead malls” get new life with unique uses such as: satellite college campuses, sports complexes, multifamily, etc. The Google Glass headquarters occupies a 500,000-square foot office that was previously an abandoned mall in Mountain View, California.  Locally, Mylan Pharmaceuticals was recently approved for a 24,000-square foot lab in the former JC Penny at the Mountaineer Mall. Enclosed malls are in the most trouble, but have significant opportunity for reinvention.

     Retail sectors that remain healthy include: single tenant properties (free standing businesses such as banks, fast food, convenience store, etc), neighborhood retail (including grocery stores), power centers (developments with home improvement/ Walmart as anchors), and strip centers. Think about some of your local retail strip centers. How many of the tenants are truly threatened by Amazon? Many, if not all, of the tenants are service providers: medical, financial, insurance, restaurant, cell phone store, hair salon, etc. Even if the few retail users within a strip center leave, conversion to the next use is fairly easy.

     Amazon and the growth of online shopping have certainly affected the retail landscape and hurt some sectors. However, only 8.5% of retail sales take place online. Amazon only accounts for 1.5% of the retail sales in the US². In fact, most retail sales still occur in brick and mortar stores. A bigger factor than Amazon is changing consumer preferences. In 2016, for the first time ever Americans spent more eating out and at bars than on groceries. Americans’, especially millennials, crave experiences over material goods. Millennials spend less on clothing and more on dining, concerts, and travel. Naturally, clothing retailers are going to feel the pain of these changing consumer demands.

     Creative destruction is a perpetual force. Just as Netflix destroyed Blockbuster, we are seeing some retail industries being destroyed. However, the decline in one industry creates opportunity and space for new businesses concepts to satisfy new consumer needs. Visionary developers will find solutions based on what the market demands.

      

     (1) (https://retailnext.net/en/benchmark/retail-performance-pulse-july-2017-store-results/)
     (2) (http://www.businessinsider.com/amazon-shouldnt-be-blamed-for-retail-apocalypse-2017-7)

121. Defense In Depth to cater to new and experienced shooters

     November 28, 2017 5:01 pm Comments Off on Defense In Depth to cater to new and experienced shooters

     MORGANTOWN — Defense In Depth, a new firearms education/training center and retailer in Morgantown, aims to cater to the needs of new and experienced shooters alike with its state-of-the-art facility.

     Located in Sabraton Plaza, Defense In Depth is a 20,000-square-foot, $11 million center featuring a 75-foot long indoor gun range with 16 lanes, classrooms, a 30-foot long computer simulation screen and retail showroom.

     

     In the end, Leech said they wanted the business to focus on education, training and situational awareness regarding firearms, with actual gun sales being thrown into the mix last.

     “You can buy a piano or a guitar, but that doesn’t mean you know how to play. The same thing applies with guns,” Leech said. He noted that Defense In Depth will offer friendly expert advice regardless of a shooter’s level of experience so they feel comfortable and can improve.

     Leech said Defense In Depth has 26 specialists on hand, all of whom have experience working with firearms via the military, law enforcement and other agencies. He said 2,000 job applications were filed and of the 26 who were hired, they bring a collective 300 years of experience.

     Brett Wingard, one of the range safety officers, has trained more than 10,000 Boy Scouts in the use of firearms.

     Lew Soccorsi, Defense In Depth’s general manager and director of training, said the ultimate goal of any situation is to avoid conflict. However, that isn’t always an option, which is why the center focuses just as much emphasis on when and when not to use a firearm as much as how to use one.

     These lessons can be brought to life on the Ti Training simulator, which has more than 800 scenarios and 30,000 potential outcomes. Adding to atmosphere is the use of actual firearms that have been tweaked to fire compressed air, generating actual recoil. New scenarios can be generated simply by taking a photo of a real place and integrating it with the simulation system.

     “It takes away the first-time jitters for people that never held a gun and its fun, kind of like a video game,” he said.

     Soccorsi said Defense In Depth will host an active shooting information seminar from 11 a.m. to noon, and from 1-2 p.m. and 3-4 p.m. on Dec. 2, and everyone is welcome.

     During the 2012 mass shooting in a Colorado movie theater, he explained many people only had one option to keep their loved ones safe and that was to lay on top of them. Some died as a result.

     “We are teaching another option,” Soccorsi said. “We see these tragedies on the news, but I don’t think we give them much thought as to how this might affect us in little old Morgantown.”

     Soccorsi said 30 different classes will be held at Defense In Depth, including those for women led by a female instructors to those who have never held a firearm before.

     Nick DeMedici, former Monongalia County deputy and state trooper, is the director of sales and training for the center. He said that personalized attention also applies to firearms sales.

     Defense In Depth will work to make sure the shooter and the gun match up in terms of size and the role that gun is intended for. He added that guests can rent from the 130 firearms set aside for use on its indoor range. Among them is the Sig Sauer P320, the 9mm pistol recently ordered by the U.S. Army to replace its current stock of Berettas.

     The range boasts a state-of-the-art ventilation system that removes lead particulates and the smell of burnt powder almost immediately. This, he said, allows shoppers to effectively test drive the guns they’re thinking about buying, something very few shops can provide. Various programmable settings means shooters can set up timed exercises in which the targets are shrouded in strobe lighting.

     DeMedici said Defense In Depth has about $7 million worth of inventory up for sale — new guns, used guns, ammunition, holsters, magazines, rifle cases, targets, apparel and other accessories. Anything that isn’t available in the store, he said, can be viewed and ordered at their kiosk and shipped directly to the customer’s home.

     Also on the retail floor is the workshop of gunsmith Malcolm Rogers, who can clean guns after patrons practice, customize their guns, re-barrel them for a different caliber and even take a look at guns that aren’t functioning to their full capacity.

     “We can modify things in any way — as long as it’s safe — to make them more comfortable,” he said.

     With the simulation setup, gun range, rental services, retail space and gunsmith all in one location, Soccorsi said there isn’t anything like it within 500 miles of Morgantown or the East Coast.

     As a thank-you to veterans, military personnel, law enforcement and emergency service workers, Defense In Depth will have a soft opening day for them from 10 a.m. to 11 a.m. Nov. 28. The grand opening and ceremonial ribbon cutting will be held at 10 a.m. Dec. 1. An entire month of opening specials, giveaways and events will follow.

     by Conor Griffith STAFF WRITER. Click here to view this article at Theet.com

122. WVU Medicine Children’s Announces $152-Million Project

     November 16, 2017 3:16 pm Comments Off on WVU Medicine Children’s Announces $152-Million Project

     WVU Medicine Children’s growing into new tower to be added onto J.W. Ruby Memorial Hospital

     Three-year, $152-million project to add 150 beds

     MORGANTOWN, W.Va. – WVU Hospitals announced today (Nov. 16) plans to construct a 10-story tower dedicated to WVU Medicine Children’s to address capacity issues and better serve the healthcare needs of all of West Virginia’s women and children. As a result of the project, 150 beds will be added to J.W. Ruby Memorial Hospital.

     “As West Virginia’s leading academic medical center, we have a responsibility to the children of our state and their parents to provide the highest level of care close to home,” Albert L. Wright, Jr., president and CEO of the West Virginia University Health System, said. “The demand for our services has increased so that we must grow in order to meet their needs.”

     The $152-million tower will take three years to complete. It will include:

     • Entry, registration, administration, outpatient clinics, and building services
     • Loading dock, dietary services, diagnostic imaging, and connection to the Southeast Tower (the WVU Heart and Vascular Institute tower)
     • Operating rooms, cardiac catheterization, and endoscopy facilities
     • A 20-bed Pediatric Intensive Care Unit (PICU) and 10-bed procedure/sedation unit
     • A 50-bed Neonatal Intensive Care Unit (NICU)
     • A 40-bed pediatric acute care unit
     • A 30-bed obstetrical unit with potential for expansion
     • Pediatric subspecialty and maternal-fetal medicine clinics

     All of the inpatient rooms will be private. The tower will also include a satellite pharmacy, laboratory, respiratory therapy, and a cafeteria.

     “This new building will allow us to match our expanded programs for the women and children of West Virginia with a state-of-the-art facility,” J. Philip Saul, M.D., executive vice president of WVU Medicine Children’s, said. “The goal is for no child who needs us to leave the state for care.”

     

     PHOTO CAPTION: (From left to right) Albert L. Wright, Jr., president and CEO of the West Virginia University Health System; Gordon Gee, WVU president and chair of the West Virginia University Health System Board of Directors; J. Philip Saul, M.D., executive vice president of WVU Medicine Children’s, and Natalie Jefferis, former WVU Medicine Children’s patient and member of the WVU Medicine Children’s Leadership Council

     The new Children’s tower will be attached to the southeast tower (WVU Heart and Vascular Institute). The building will extend southward to Medical Center Drive.

     The construction of the tower will be subject to Certificate of Need approval by the West Virginia Health Care Authority. Construction costs are estimated to be $105.8 million with the remaining $46.2 million for financing and other related costs. A capital campaign will be launched to raise $60 million for the project. WVU Hospitals will finance the remainder of the cost. No state funds will be sought, and no extraordinary rate increase is anticipated as a result of the construction.

     “This is a necessity, not a nicety,” Gordon Gee, WVU president and chairman of the West Virginia University Health System Board of Directors, said. “The children and families we serve will be relying on our friends and alumni, our businesses, the people of West Virginia, and the Mountaineer Nation – wherever they may be – to pitch in and to make this project a reality. We’re launching this campaign right now, right here.”

     The tower is anticipated to be open to its first patient in late fall/early winter 2020.

     Click hear to read the article at WVUMedicine.org

123. October Newsletter

     October 2, 2017 9:40 am Comments Off on October Newsletter

     

     Roads to Prosperity

     In 1971, West Virginia’s country roads became a main stream topic when John Denver released his international hit song. The serene views and natural beauty are challenging to enjoy without proper infrastructure to access them. Governor Justice’s “Roads to Prosperity” plan has the potential to positively influence West Virginia’s future. The goal is embedded in the plan’s slogan: No New Tax. Better Roads. More Jobs. Simple, straightforward and packed with tremendous opportunity to change our state’s story.

     West Virginia residents are on the precipice of a monumental opportunity. New/Improved roads could be the stimulus for an economic boom via job creation plus greater accessibility and safety. Click the following links to see the: 10 Good Reasons to Say Yes! provided by TRIP, and the: Roads to Prosperity Amendment of 2017 provided by the WV Chamber of Commerce.

     How could this vote positively affect the northern part of the state? Click the following link to review the proposed road projects that will be completed after the road bond is approved: Proposed Road Projects

     Polls are open from now until October 7th. Now is the time to positively influence West Virginia’s future can help change our state’s story. New/Improved “country roads” will make it easier for people to enjoy our state’s beauty.

124. Crossings Construction Continues – The Dominion Post

     September 14, 2017 10:53 am Comments Off on Crossings Construction Continues – The Dominion Post

     Luxury Living

     Construction continues on a new senior living community on Point Marion Road.

     Scheduled to open in fall 2018 near The Pines Country Club, the 8.9-acre Crossings at Morgantown will include 175 senior living units — 84 of them independent, 59 units of assisted living and 32 secured units of memory care. The Crossings at Morgantown will be operated by Harmony Senior Services, a management services company with experience in senior living based in Roanoke, Va.

     The Dominion Post reached out to the company to find out if anyone has yet expressed interest in the community, but representatives from Harmony Senior Services declined to comment, noting that advertising for the Crossings hasn’t begun yet.

     According to the Crossings’ website, the community’s amenities will include an on site fitness center, a pub, beauty/barber shop, library, and a computer lab. According to Black Diamond Realty, this $35 million development will create about 45 full-time-equivalent jobs initially. The Crossings at Morgantown is expected to generate 100-130 part-time and full-time jobs over time. 

     View additional photos at The Dominion Post.

125. Black Diamond Prepares Dinner for the Rosenbaum Family House – 9/11

     September 12, 2017 2:18 pm Comments Off on Black Diamond Prepares Dinner for the Rosenbaum Family House – 9/11

     On September 11th Black Diamond Realty prepared dinner for the guests of Rosenbaum Family House, a place for adult patients and their families to stay while receiving medical care at WVU’s Ruby Memorial Hospital. The team served hot meatball subs with a fresh garden salad and warm cookies for dessert. As always, the overwhelming joy and gratitude was a wonderful gift in itself.

     For information about the Rosenbaum Family House, and how you can help, click the link below.
     http://wvumedicine.org/services/rosenbaum-family-house/

126. September Newsletter

     September 6, 2017 10:11 am Comments Off on September Newsletter

     View our September Newsletter: Black Diamond Trophy Reenergizes a Rivalry While Industrial Demand Ramps Up

     Click Here!

127. WVU-led research team lays foundation for natural gas storage ‘hub’; opportunity for economic growth in the region

     August 31, 2017 10:17 am Comments Off on WVU-led research team lays foundation for natural gas storage ‘hub’; opportunity for economic growth in the region

     

     It is no secret that the region around West Virginia, Pennsylvania and Ohio has abundant natural gas resources, but can the three states uncover the keys to turning those resources into economic growth? West Virginia University-led research may have some of the answers.

     On August 29, WVU is releasing to the public a study that shows how the region can support storage facilities that are critical for attracting petrochemical and related industries to the area. Researchers will present the data at a technical workshop in Canonsburg, Pennsylvania, hosted by the Eastern Petroleum Technology Transfer Council, PTTC, at WVU.

     Led by Doug Patchen, director of the WVU Appalachian Oil and Natural Gas Consortium and the Eastern PTTC, researchers from the geological surveys in West Virginia, Pennsylvania and Ohio studied geologic formations that could offer suitable locations for developers to build underground facilities to store natural gas liquids from Marcellus and Utica wells.

     The team identified and mapped all potential options for subsurface storage of natural gas liquids along the Ohio River from southwestern Pennsylvania to eastern Kentucky, and the Kanawha River in West Virginia. The researchers focused on three options for subsurface storage.

     One option includes areas where the Salina F Salt is at least 100 feet thick and suitable for solution mining, a type of mining that uses a liquid such as water injected through a borehole to dissolve and extract salts and minerals.

     Another option includes areas where the Greenbrier Limestone is present 1,800 to 2,000 feet below the surface and is at least 40 feet thick. Converting existing sandstone reservoirs in depleted gas fields and inactive gas storage fields to natural gas liquids storage is the third option.

     Previously, the consortium had conducted studies of the Marcellus and Utica shale gas plays. Results from those studies have been used by both small producers such as Northeast Natural Energy and large multinationals such as Exxon and have helped fuel the region’s shale gas boom. This latest work was conducted as part of the Tri-State Shale Coalition, an innovative cross-border collaboration among Ohio, Pennsylvania and West Virginia and a critical key for unlocking the region’s economic opportunity, according to its members.

     The Coalition was created following a collaborative agreement signed in October 2015 by Governors’ offices in West Virginia, Pennsylvania, and Ohio. Charter members include the Benedum Foundation, a charitable organization, and Team NEO, the Allegheny Conference on Community Development and Vision Shared, all non-profit economic development organizations in Ohio, Pennsylvania, and West Virginia.

     A public-private partnership, the coalition brings together workforce development organizations, academic institutions such as WVU, and economic development groups to strategically advance the area as a “super-region” for petrochemical, plastics fabrication and advanced manufacturing jobs and investments.

     “Recognition of the enormous opportunity for economic development based upon shale gas, including downstream modern manufacturing, was the motivation for the Governors of West Virginia, Ohio, and Pennsylvania to agree to collaborate to maximize the opportunity,” said William Getty, Benedum Foundation president.

     The WVU Energy Institute secured $100,000 from the Benedum Foundation to support the study. That amount was matched by a total of $100,000 more from AEP, Antero, Blue Racer, Charleston Area Alliance, Chevron, Dominion, EQT, First Energy/Team NEO, Mountaineer NGL Storage LLC, Noble Energy, Southwestern Energy, XTO Energy and the West Virginia Oil and Natural Gas Association.

     Click here to view the article at WVUToday.

      

128. Opening Day – WV Box & Ship – The Dominion Post

     August 21, 2017 9:42 am Comments Off on Opening Day – WV Box & Ship – The Dominion Post

     A ribbon-cutting ceremony was held Friday for WV Box & Ship, a new business at 1405 Earl. L Core Road. WV Box & Ship is a center for packaging, shipping, printing, and business service needs. Its goal is to save people and businesses money with quality products and customer service.

     Hours are from 9 a.m. – 7 p.m. Monday-Friday and from 10 a.m. – 4 p.m. Saturday. Find out more info at wvboxandship.com or call 304.322.2192.

     – The Dominion Post

      

      

129. $40 Million Center for Aquatics Announced – The Dominion Post

     August 17, 2017 9:20 am Comments Off on $40 Million Center for Aquatics Announced – The Dominion Post

     $15 Million donation, loan to finance a 55-acre project. 

130. Industrial Park to Expand – The Dominion Post

     August 10, 2017 9:49 am Comments Off on Industrial Park to Expand – The Dominion Post

     The Morgantown Industrial Park is approved for a second phase of development. See the article below or visit dominionpost.com.

     

131. 2017 Sectors In Demand

     August 1, 2017 3:22 pm Comments Off on 2017 Sectors In Demand

     Our team is often asked, “How is the market?” Some brokers may respond with a generic, “good”. If you are interested in a general response, we are happy to report the market is currently “great.” Black Diamond Realty’s pipeline is the busiest it has been in its four-year history. That said, we suspect you are more interested in a sophisticated, detailed response. Look no further; we have your answers.

     What…. Sectors?

     At Black Diamond Realty, one of our competitive advantages is our thorough and detailed process. We track every single lead. This allows us to present you with accurate statistics that serve as a reflection of market demand across all sectors. Keep in mind our statistics are influenced by Black Diamond Realty’s current inventory of assets. The following statistics provide the number of sector leads since January 1, 2017:

     Industrial = 83        Office = 59         Retail/Restaurant = 58         Land = 32        Investment = 32

      

     Why… Macro vs Micro?

     Do you believe in the mantra that tells you to focus on what you can control? We do, too. However, we also believe it is not wise to bury your head in the sand. It is critical to think about how macroeconomic factors influence regional market demand. Two positive influencers are currently in play.

     Historically speaking, interest rates remain near all-time lows. This bodes well for investors looking to get into investment opportunities. Although cash is king, we are seeing a lot of companies and individuals levering up to take advantage of favorable bank rates. Refinances have flocked through banks’ doors. Sellers also like low interest rates because funds are cheaper to secure which results in higher valuations while still clearing bank debt-coverage ratios.

     The second macroeconomic factor relates to the reenergization (pun intended) of Marcellus Shale activity. Oil and gas pricing is fluid, literally and figuratively. Pricing has seen nominal rises over the past 12 months. However, recent industrial space demand leads us to believe many companies on the front lines sense prices moving north in the coming years. We suspect their goal is to get established in this area while industrial real estate values are still relatively inexpensive. This will heighten their ability to capture the market and capitalize on contracts as things ramp up. Many articles reference cracker plants and pipelines as the saving grace to lowering the current supply glut. These two variables are currently progressing in a very big way. The O&G industry has potential to replace job losses from coal. Time will tell if this is a long-term regional industrial revolution.

     Where?… Concentrated Areas of Development

     Jobs drive economic growth, and there are plenty of jobs coming to two booming exits along the I-79 corridor. University Town Center/West Ridge and White Oaks Business Parks are the two distinct front runners when considering development hubs in north central WV. University Town Center and WestRidge, both located at I-79, Exit 153, lead the charge as driving forces behind retail and office development in Monongalia County. Simply put, this new exit has created significant buzz in Monongalia County which is expected to remain in play for the next three to five years. A lot of announcements will happen in the coming months. 2018 is slated to be a heavy construction year for this development.

     Thirty miles south of Morgantown, White Oaks Business Park is leading the development charge for Harrison County. Numerous Class A office buildings, spanning a plethora of services, hotels, retail space and several restaurants round out the line-up for this state-of-the-art development. White Oaks is an upscale development, which includes sidewalks throughout and pristine landscaping, while serving as “the talk” of Harrison County as it capitalizes on close proximity to the interstate, UHC and FBI’s Campus. Growth and positive economic announcements are projected to continue in the coming years.

      

132. July Newsletter

     July 1, 2017 7:00 am Comments Off on July Newsletter

     View our July Newsletter: See What’s OPENING SOON In The Sabraton Plaza!

     Click Here!

133. Valley Worlds of Fun Searches for New Owner – WBOY12

     June 21, 2017 4:50 pm Comments Off on Valley Worlds of Fun Searches for New Owner – WBOY12

     PLEASANT VALLEY – Valley Worlds of Fun has been part of Marion County’s history for decades. Now, the property is for sale and it has residents worried about what it means for the future of the entertainment center.

     Since 1972, Bruce Martin’s family has been the name behind Valley Worlds of Fun. It started as Valley Lanes, a 32-lane bowling alley. Then came the entertainment center, which Bruce’s father, Bob, started with a purpose. “He just had always felt some kind of a mission in life to provide the kids in the neighborhood a place to play. He thought we were pretty lacking in recreational stuff in the area and he just always wanted to give back in that way,” said Bruce Martin, Co-Owner of Valley Worlds of Fun. But several years ago, Bob suffered a stroke. It was around the time of the recession, when families cut expenses for recreational activities. Bruce said the aging population did not help, either. “One of the challenges we’ve had over the years is since the population doesn’t change on a regular basis, we needed to change so that it didn’t become boring or old had to people. We needed to make it new and exciting all the time and that’s certainly a challenge,” said Bruce Martin.

     Now, it is for sale for $1.9 million, plus $200,000 for the attractions. The Martin family is looking for someone who will buy the property as is and improve it as a family entertainment center. Within the last several years, new attractions like archery tag, knocker balls and a new laser tag system have been installed. “We’ve just reached a point where I’d love to find somebody that this is their primary focus want to carry on the tradition for the neighborhood,” Bruce Martin said.

     Bruce said all events scheduled at Valley Worlds of Fun will continue as planned and his family will continue with ownership until a sale is finalized.

     Click here to view the article and video at WBOY.

134. June Newsletter

     June 1, 2017 11:37 am Comments Off on June Newsletter

     View our June Newsletter: Summer Fun Awaits! See Where…

     Click Here!

135. Thrillist.com Names Morgantown the Best Small Town in West Virginia

     May 26, 2017 9:20 am Comments Off on Thrillist.com Names Morgantown the Best Small Town in West Virginia

     West Virginia: Morgantown – Population: 31,073

     No small town in WVA is more worthy of a visit than the home of West Virginia University. Game days in Mo-Town are no joke, and the bar scene here rivals any major-conference college town. Suds and sports aside, Morgantown sits near the Cheat River, one of the premiere whitewater destinations in America. And a hike to the top of Coopers Rock gives you a jaw-dropping, vertigo-inducing peek into the 1,200ft gorge below. — M.M.

     Click here to read the full article at Thrillist.com

136. White Oaks Continues to Expand, Attract Variety of Industries – The State Journal WV

     May 24, 2017 2:06 pm Comments Off on White Oaks Continues to Expand, Attract Variety of Industries – The State Journal WV

     Nearly a decade after construction first began to develop White Oaks off Jerry Dove Drive, the Bridgeport business park continues to live up to the expectations of Woody Thrasher and Jack Keeley.

     “When I started to work with high tech, there were no buildings here,” said Ron Stanley, manager of the White Oaks development. “Steptoe & Johnson had just closed on their parcel, and shortly thereafter, Premier Bank did. It has really, I think, for our area, exploded.”

     Stanley said the boom of the oil and gas industry in the late 2000s significantly helped the complex take off. Click Here to continue reading.

     Click Here to View the Marketing Flyer for White Oaks Business Park.

137. Businesses Anticipate Next Oil, Gas Boom with Projects on Horizon

     May 4, 2017 3:43 pm Comments Off on Businesses Anticipate Next Oil, Gas Boom with Projects on Horizon

     Multiple projects and more drilling rigs are sure signs that the oil and gas industry is going to have a very big presence in West Virginia for years to come, according to officials. Click here to read more, or continue reading below. 

138. May Newsletter

     May 2, 2017 7:00 am Comments Off on May Newsletter

     View our May Newsletter: 100+ Acre Interstate Development Located In…

     Click Here!

139. April Newsletter

     April 4, 2017 11:00 am Comments Off on April Newsletter

     View our April Newsletter: See What’s Coming To Morgantown In 2018…

     Click Here!

140. BDR’s February Newsletter

     February 1, 2017 7:00 am Comments Off on BDR’s February Newsletter

     View our February Newsletter: The Possibilities Are Endless With Our Latest Offering!

     Click Here!

141. Reflecting & Projecting

     January 3, 2017 2:11 pm Comments Off on Reflecting & Projecting

     REFLECTING ON 2016
     

     There were some economic positives in 2016. Interest rates remained low while capital slowly became more attainable, resulting in a demand for investment/income-producing assets. Education and health care remained strong in Morgantown and other parts of north central WV. Respectively, the West Virginia University Board of Governors unanimously approved a $1.04 billion budget for the fiscal year which began on July 1, 2016. (WVUToday) Ruby Memorial Hospital built a 10-story tower, totaling $220 million, that will be home to 750 new jobs, and Mon General Hospital opened a three building, 150,000 square foot, office campus.

     These recession-resistant sectors make Morgantown, and other communities in north central WV, such as Bridgeport, attractive investment options that garner attention from out-of-state money. This is evidenced in several large deals in 2016. We would be remiss without mentioning the new I-79 interchange in Morgantown. Metro News states, “A study of the entire development on both sides of the interstate predicted a $1 billion economic impact on the region annually. The impact study indicated the TIF district and incoming developers could support 9,900 jobs by 2025.”

     Jobs lead to disposal income which ultimately drives an economy. Although there were economic spotlights to be proud of, 2016 was a challenging year for many commercial real estate sectors. Much of the sluggish business climate in WV and southwestern PA can be attributed to the energy sector slowdown. The rapid decline of coal, coupled with the oversupply of natural gas/oil, negatively affected this region’s economy. Decreased energy-sector demand for office and industrial space led to increased vacancy. As a direct result of this climate, restaurant receipts, retail sales and hotel occupancy all followed suit. Energy sector downturn hurt. In our home base of Morgantown and much of north central WV, there was enough positive economic activity to downplay these challenges.

     2017 OUTLOOK
     

     What is on the horizon for 2017? Well, for many, the presidential election was seen as a pro-energy and pro-business election. Time will tell on both. However, in the last two months, BDR saw an uptick in office and industrial demand via phone call leads. We feel this trend will continue as we move into what we believe will be a healthier economic year with less regulation and greater consumer confidence. OPEC’s announcement to reduce oil supply is a major win for our region. Rising oil and gas prices result in greater drilling activity which leads to more jobs. Average consumers dislike paying more at the pump, but for WV and the Marcellus/Utica Shale territory, paying a little more in gas results in hundreds of high-paying jobs that support regional economic growth.

     Looking to the new year, BDR is poised to capitalize on north central WV’s growth potential, including the energy, education, medical, and government sectors.

     As you sit down to set your 2017 personal and company goals, remember this important quote: “Yesterday is history. Tomorrow is a mystery. Today is a gift. That is why it is called the present.” From our team to yours, we wish you a healthy, prosperous and joyful 2017.

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P: 304.413.4350

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