U.S. Department of Commerce Invests $5 Million to Expand Capacity for Business Development and Job Growth in West Virginia
WASHINGTON – U.S. Secretary of Commerce Wilbur Ross today announced that the Department’s Economic Development Administration (EDA) is awarding $5 million in grants to support business development and job growth in West Virginia. According to grantee estimates, the projects are expected to create or retain 755 jobs and spur $7.5 million in private investment.
“The President and the Department of Commerce are committed to ensuring communities have access to the tools which can help businesses expand and thrive,” said Secretary of Commerce Wilbur Ross. “These improvements throughout West Virginia will provide local businesses with the capacity they need to succeed.”
“Ensuring sites are available for businesses to locate and expand is integral to growing West Virginia’s economy, encouraging development, and attracting private investment. In cities like Weirton and others in Brooke and Hancock counties, this kind of development is not only important to economic growth now, but it’s essential for the future of these communities,” U.S. Senator Shelley Moore Capito said. “My office has worked closely with the Department of Commerce’s Economic Development Administration and local leaders to identify areas of opportunity, and these resources are a big next step in creating and retaining good paying jobs for West Virginians.”
“The Rahall Technology and Business Center in Maxwelton is an important job creator in Greenbrier County,” U.S. Representative Evan Jenkins said. I supported the Greenbrier Valley Economic Development Corporation’s grant request, as this new funding will allow them to make much-needed repairs to this important facility and bring it up to compliance with fire codes. Centers like this are important to helping incubate small businesses and create more jobs and opportunities for West Virginia’s entrepreneurs.”
The EDA investments are:
- The Business Development Corporation of the Northern Panhandle, Weirton, will receive $2.6 million to rehabilitate the historic Wheeling Corrugating Plant in Beech Bottom to support existing and future business needs. According to grantee estimates, the project is expected to create or retain 115 jobs and spur $1 million in private investment.
- The Greenbrier Valley Economic Development Corporation, Maxwelton, will receive $1.2 million to rehabilitate the Rahall Business and Technology Center (RBTC), a large commercial/industrial building. According to grantee estimates, the project is expected to create or retain more than 140 jobs and spur nearly $1.5 million in private investment.
- The city of Weirton will receive $1.2 million to expand Three Springs Business Park. According to grantee estimates, the project is expected to create 500 jobs and spur $5 million in private investment.
About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation's regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.