Open for Business Report | January 2012

Published Friday, December 30, 2011 @ 1:37 PM by Andrew.C.King@wv.gov (Andrew King)


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FOR IMMEDIATE RELEASE
January 4, 2012

CONTACT:
Jacqueline Proctor, (304) 558-2000
Catherine Zacchi, (304) 957-9340


Governor Releases January “Open for Business” Report

CHARLESTON, W.Va. – Gov. Earl Ray Tomblin today released the latest “Open for Business” report documenting the state’s economic progress. The January 2012 report highlights projects and related announcements from businesses both large and small that will assist with the creation of new jobs and the preservation of existing jobs.

Access to $13 million credit initiative to fuel West Virginia small business growth
The U.S. Department of the Treasury has approved West Virginia’s application for State Small Business Credit Initiative funding. The approval will give West Virginia access to $13.1 million in federal dollars to fund new small business lending programs. Administered through the state’s new West Virginia Capital Access Program (WVCAP), the funding will enable small businesses to leverage new capital and credit to create private sector jobs. WVCAP is expected to go into effect during the first quarter of 2012.

International science journal ranks Protea among Top 10 Innovative Technologies
Bioanalytics firm Protea Biosciences has been selected as a Top 10 Innovative Technologies. The honor is being bestowed by “The Scientist,” an international life sciences journal. Protea earned the award for its Laser Ablation Electrospray Ionization (LAESI) technology, described as the world’s first technology that allows real-time molecular imaging, including the molecular analysis of live cells. LAESI was invented by researchers at George Washington University and exclusively licensed worldwide to Protea Biosciences. Protea has now completed the development of the world's first LAESI instrument systems, financed largely by a loan from West Virginia Jobs Investment Trust, the state’s venture capital fund. Morgantown-based Protea was launched as a spin-off from West Virginia University in 2001. The firm has 45 employees.

Prichard Intermodal Facility project receives $12 million
The West Virginia Ports Authority has been awarded $12 million by the U.S. Department of Transportation to construct an intermodal terminal along Norfolk Southern’ s Heartland Corridor near Prichard. The Prichard Intermodal facility is being developed to serve as a cargo-transfer station along the Norfolk Southern rail line. Once completed, the facility will give industries in West Virginia, Ohio and Kentucky more modern and efficient freight container service and improved access to international rail lines.

WVU CAFEE completes fuel economy research on military combat vehicles
West Virginia University’s Center for Alternative Fuels, Engines and Emissions (CAFEE) has completed research on the effects of nanoscale catalysts on the fuel economy of military combat and tactical ground vehicles. The results could mean huge financial savings for America’s defense and another significant step toward overall energy efficiency. The study was conducted for the U.S. Department of Defense and ManTech International, a Washington, D.C.-based defense contractor. The research hypothesized that nanoscale fuel-borne catalysts – such as platinum, cerium and other metallo-organic additives – could be combined with traditional engine fuel as catalysts to improve fuel efficiency. CAFEE, a part of WVU's Advanced Energy Institute, is a worldwide leader in the research and development of improved transportation and power system efficiency, while working toward a cleaner environment.

WVEDA approves $726,360 for new, expanding businesses
The West Virginia Economic Development Authority (WVEDA) approved a new loan during its December 2011 meeting:

  • M-Rock, $359,610, for the expansion of an existing building and the acquisition and installation of equipment. The Monroe County business manufactures shaped and colored cement and stone veneer products. The expansion will allow M-Rock to manufacture its recently-introduced Mortarless Stone Innovations (MSI), a stone veneer product that installs with screws instead of mortar. M-Rock currently has 43 employees and expects to increase that number to as many as 95 after three years.
  • Architectural Wood, $366,750 aggregate, for site and equipment acquisition related to start-up. Based in Ronceverte in Greenbrier County, the company was established in 2011. It manufactures and installs high-grade architectural woodwork, casework and custom furnishings.

Saucy Jackson County firm wins four prestigious Scovie Awards
Miss Mona’s Sauces and Spices scooped up four awards from the Scovie Awards. The annual competition recognizes the top fiery foods products from around the world. This year’s event included 792 products and 161 companies from 38 states and four countries. Miss Mona’s entries placed in the top three in their respective categories: Extra Hot Salsa, category Processed Salsa/XX Hot, first place; Caribbean BBQ, category Barbeque Sauce, second place; Liquid Lucifer, category Extreme Sauce, second place; and Tropical Salsa, category Processed Salsa/Fruit, third. Entering the Scovie Awards was the first time the Sandyville-based company had taken part in a food competition, said owner Ramona Price.

Charleston East End is Great American Main Street Award Semifinalist
Charleston East End has been selected from a nationwide pool of applicants to be one of 10 semifinalists in the final round of competition in the 2012 Great American Main Street Awards® (GAMSA). The National Trust for Historic Preservation will present the final five winners at the Main Street Awards Ceremony during the National Main Streets Conference in Baltimore, Md., on April 2, 2012. The annual award recognizes the participating communities for their exceptional accomplishments in revitalizing the nation’s historic and traditional Main Street commercial districts by using the proven Main Street Four-Point Approach®.

WorkForce West Virginia takes part in Marshall County oil and gas industry job fair
WorkForce West Virginia participated in a job fair at the Mollohan Training Center in Moundsville on Nov. 30. The event was sponsored by the West Virginia Independent Oil and Gas Association. Approximately 40 employers and training providers were onsite and an estimated 1,250 job seekers attended. West Virginia employers can file job orders and search for qualified applicants 24/7 via the WorkForce West Virginia website at http://www.workforcewv.org/.



In This Issue


Access to $13 million credit initiative to fuel West Virginia small business growth

International science journal ranks Protea among Top 10 Innovative Technologies

Prichard Intermodal Facility project receives $12 million

WVU CAFEE completes fuel economy research on military combat vehicles

WVEDA approves $726,360 for new, expanding businesses

Saucy Jackson County firm wins four prestigious Scovie Awards

Charleston East End is Great American Main Street Award Semifinalist

WorkForce West Virginia takes part in Marshall County oil and gas industry job fair


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