WV EDGE Business Report | September 2014

Published Friday, September 26, 2014 @ 3:19 PM by Andrew.C.King@wv.gov (Andrew King)

FOR IMMEDIATE RELEASE
September 26, 2014

CONTACT:
Chris Stadelman, 304-558-4977
Catherine Zacchi, 304-957-9340

Governor Releases September Edge Business Report

CHARLESTON, W.Va. - Gov. Earl Ray Tomblin today released the West Virginia Edge Business Report. The report documents the state’s economic progress. The September 2014 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.

Carrier Enterprise to open warehouse/distribution center in Kanawha County
Carrier Enterprise will open a new warehouse and distribution center in South Charleston on the site of the former FMC Corp. East Plant. Skaff Development, based in Kanawha County, began construction on the 15,750-square-foot building in August and expects to complete the project by October 2014. The new structure will include a warehouse, office, product showroom and two loading docks. The development company will own the building and lease it to Carrier.

Carrier Enterprises is a subsidiary of Watsco Inc., the largest independent Heating, Ventilation, Air Conditioning and Refrigeration (HVAC/R) distribution company in the world. Carrier employs more than 1,600 workers across more than 150 locations throughout 28 states, Puerto Rico, the Caribbean, and Latin America.


American Woodmark plans $30 million expansion in Moorefield
American Woodmark Corporation plans a $30 million expansion of the company’s Moorefield, West Virginia, cabinet-manufacturing facility. The company will add 80 new jobs and 100,000 square feet of manufacturing space. The project will increase the Moorefield center’s workforce to more than 650 employees.

American Woodmark Corporation is a leading manufacturer and distributor of kitchen cabinets and vanities for the remodeling and new-home-construction markets. Its products are sold nationwide at home centers and a network of independent dealers and distributors, as well as directly to major builders. In addition to the Hardy County facility, the company operates eight other manufacturing centers and nine builder-service centers across the country.


Inc. 500 ranks Bridgeport company among fastest-growing in America
Allegheny Science & Technology ranks as one of America’s fastest-growing private companies, according to Inc. magazine’s 2014 report. The company took the No. 268 spot in the Inc. 500 compilation. The company also received the No. 7 listing on the Washington Technology 2014 Fast 50.

Headquartered in Bridgeport, West Virginia, Allegheny Science & Technology is a management and technology solutions company offering assistance to the energy, defense, and intelligence communities. The company works in areas such as project management, financial analysis, software and systems engineering, as well as training and simulation, and specialized scientific, engineering, and technical support.


Study credits North Central Airport with more than $1 billion economic impact
Study credits North Central Airport with more than $1 billion economic impact
n economic impact study reports that North Central West Virginia Airport near Bridgeport generates an annual economic impact of $1.05 billion. The airport also creates more than 3,400 jobs directly and indirectly and brings nearly 3,000 visitors a year to the region. In addition, the airport generates $23 million in state and local tax revenue.

The Economic Impact of North Central West Virginia Airport report was conducted by Sixel Consulting Group, Inc. The North Central West Virginia Airport is a public airport operated by the Benedum Airport Authority.

The North Central West Virginia Airport serves as home base for companies in the aerospace industry such as Aurora Flight Sciences, Bombardier, Pratt Whitney, Lockheed Martin, KCI Aviation, Engine Airframe Solutions Worldwide, FMW Composite Systems and HQ Aero. The airport houses two world class training facilities: the Robert C. Byrd Institute for Advanced Flexible Manufacturing (RCBI) and the Robert C. Byrd National Aerospace Education Program. Also at the airport is the Mid-Atlantic Aerospace Complex (MAAC), which promotes the capabilities in aviation and aerospace of the North Central West Virginia Airport and its component members.


Youth adventure camp to be built in Nicholas County
Nicholas County has been chosen as the site of a new Young Life adventure camp. A non-profit Christian youth ministry, Young Life secured the purchase options on the majority of the 1,000 acres in August. Phase One of the project includes a $5 million capital campaign to buy the property, lay out the plan for the camp, improve infrastructure and build a base camp for small group adventure camping. The group expects to complete the first phase within a year. Established in 1941, Young Life has clubs in more than 90 countries.


WVEDA approves $1.3 million in loans for two businesses
The West Virginia Economic Development Authority (WVEDA) approved new loans totaling $1,305,250 during its September 2014 meeting:
  • Pietro Fiorentini USA Inc., $1,000,000, to finance equipment. Pietro Fiorentini is a manufacturer based in Italy. The company will establish its first U.S. manufacturing operating in the former Blaw Knox building in the Wheeling area, Ohio County. Pietro Fiorentini manufactures and assembles gas production unit items such as governors, valves, vessels and regulators. The company expects to employ 31 workers after one year and 41 after three years.
  • Inter-State Hardwoods Company, Inc., $305,250, to purchase and install new equipment at its existing facility in Bartow, Pocahontas County. A manufacturer of hardwood lumber products, the company has been in operation for more than 70 years. Inter-State Hardwoods operates a double-band sawmill, a dual-sided circle scragg mill and 20 dry kilns. The company currently employs 129 workers and expects to increase that number to 137 after one year and 150 after three years.
WVEDA also approved two loan insurance applications.
  • Wesbanco Bank, $500,000, for the benefit of Touchstone Research Laboratory LTD, a materials development company in Wheeling, Ohio County. The loan insurance will enable the company to maintain 25 jobs. The company projects growth to 42 workers after two years.
  • United Bank, $179,100, for the benefit of Three Square LLC, a real estate holding company in Martinsburg, Berkeley County. Three Square will lease property to Geostellar, an affiliate company, which maintains a database of geospatial mapping that allows for the installation of specific solar power generation systems on residential and commercial properties. The loan insurance will enable the company to maintain 14 jobs. Growth is projected to 25 workers after two years.



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You are receiving this from the West Virginia Department of Commerce. The former Open for Business Report was renamed West Virginia Business Edge in May 2012. Previous issues of Open for Business Report can be viewed online at wvopenforbusiness.com.



Carrier Enterprise to open warehouse/distribution center in Kanawha County

American Woodmark plans $30 million expansion in Moorefield

Inc. 500 ranks Bridgeport company among fastest-growing in America

Study credits North Central Airport with more than $1 billion economic impact

Youth adventure camp to be built in Nicholas County

WVEDA approves $1.3 million in loans for two businesses

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