Editorial: Growth!

WV's workers' comp fix paying off

Bluefield Daily-Telegram, July 30, 2005

West Virginia's economy has received a major boost from a variety of new investments amounting to approximately $5 billion. The State Chamber of Commerce has released information saying capital investments include projects in energy, health care, research, environmental and auto industries. All will bring a burst of new employment to the Mountain State. In addition the construction, material and supply industries will also have expanded employment opportunities.

Brenda Harper, vice president of the West Virginia Chamber of Commerce, said the infusion of new business has been rapid since the beginning of 2005 and the "fix" of the West Virginia Workers Compensation System and other changes made by the State Legislature that make the state more business friendly.

Among energy related projects are two new coal mines.

In a time when most state residents think coal is on the down-swing, the announcement of a new Arch Coal Mine in Logan County and a new International Steel Group mine in Taylor County are welcome news. They represent more than $400 million in new investments in the state over the next several years.

Natural gas is also making advances. Columbia Gas Transmission is spending $100 million to expand its natural gas storage facilities. And, drilling activities and production investment among natural gas producers is running at an active pace.

Electricity is also making a mark. The new Longview Power Plant in north central West Virginia is being planned at an investment approaching $1 billion. Also, electric power generation stations across the state will be seeing construction and installation of more than $2 billion in emission control technology products.

The state's I-79 Technology Corridor is booming with nearly $1 billion in construction and expansion projects involving health care and technology industries. Examples are the WVU Health Center and Ruby Memorial Hospital construction of the Blanchette Rockefeller Neuroscience Center and the 263,000-sq. ft. Institute for Scientific Research headquarters complex.

The Huntington area has $175 million in new projects including an $85 million expansion to Cabell Huntington Hospital and a $40 million biotechnology research center at Marshall University.

The state's auto industry is continuing to grow with Toyota planning a $120 million expansion to its massive Putnam County facility.

There are also reports of growing real estate demands for available tracts for development of residential and recreation areas, especially in Fayette and Greenbrier counties.

This is good new for all West Virginians. While we here have not been fortunate to have announcements of multi-million developments, we are seeing more building and expansion in some areas of Four Seasons Country.

We expect more economic development in future months and welcome the improvements to the quality of life of all state residents.