CHARLESTON, W.Va. – Lawmakers gathered in Charleston, W.Va. on Monday for a special session called by Gov. Jim Justice over the weekend to deal with economic development-related bills establishing a ” West Virginia Industrial Advancement Act, “which provides certain tax incentives, based on” very large investment and employment thresholds, for labor-intensive heavy industrial facilities and of capital are establishing themselves in the state, ”according to a press release from the governor’s office.
At a meeting of the House Finance Committee on Monday which was broadcast live via the Legislature’s website, Gov. Brian Abraham’s chief of staff was invited to speak about the legislation and how it relates to the Legislature. potential investments. Abraham specifically mentioned a business possibly located in Mason County, W.Va.
The precise location of the Mason County site and the name of the company were not noted during the House hearing. However, Abraham said the company would make an “investment of nearly $ 3 billion in our state,” creating about 800 full-time jobs and expected 1,000 construction jobs.
“The Economic Development Bureau, the Administration, we believe this bill is a wise move to attract not only any business, but this particular business,” Abraham told the committee. “This is something we’ve never seen before in West Virginia …”
During questions from the House finance committee, Abraham also mentioned that the potential Mason County location was in an unincorporated area. Asked how the legislation might affect the property tax credits that would apply to the county commission, Abraham said he understood that the Mason County Commission and Mason County School Board would meet. to discuss these matters and any resolutions concerning them later. this week.
Abraham told the committee the company has indicated it wants to be in production within 24 months and will work within the next 30 to 45 days on outreach to education and employment agencies, among other activities.
“I think this is the biggest investment in West Virginia history in terms of infrastructure and manufacturing…” Abraham told committee members.
The House finance committee voted unanimously to send the legislation to the prosecution with a recommendation for passage. The state Senate voted earlier today to pass legislation 30-1.
According to the governor’s press release this weekend when he called the special session: “The funds that the governor is asking for from the legislature will be used by our economic development department to leverage huge private investments statewide. . These credits will mark the largest investment in economic development in the history of this state and pay untold dividends in recruiting businesses, their employees and families, and other private investments in West Virginia.
More information on this developing story as details become available.
© 2022 Ohio Valley Publishing, all rights reserved.
Beth Sergent is editor-in-chief of Ohio Valley Publishing.