SHELLEY MOORE CAPITO
03/26/2018 | Press release | Distributed by Public on 03/26/2018 15:03
Capito Announces $5 Million To Expand Business Development, Job Growth In West Virginia
03.26.18WEIRTON, W.Va. – U.S. Senator Shelley Moore Capito (R-W.Va.) today announced that the U.S. Department of Commerce’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. Senator Capito today joined local community and business leaders in Weirton to make the announcement.
‘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,’ Senator 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 EDA investments are:
‘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,’ Senator 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 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.