Economy

CONSOL Energy Inc. says it has completed the sale of subsidiary Consolidation Coal Company to Murray Energy.
 
     The sale includes five longwall mines in West Virginia. They include the McElroy, Shoemaker, Robinson Run, Loveridge and Blacksville No. 2 mines.
 
     The deal also gives Ohio-basedMurray Energy about 1.1 billion tons of coal reserves.
 
     Murray Energy paid $850 million in cash and will take $2.4 billion in liabilities off CONSOL's balance sheets.
 

A southern West Virginia town works to revitalize itself.

Appalachia remembers John F. Kennedy’s assassination.

A bicyclist pedals across the country raising awareness of Lyme disease.

And a Kentucky writer discusses his latest book.

Ashton Marra

Governor Tomblin made his third major jobs announcement in two weeks Tuesday in Charleston. A supplier for the steel industry, the newest company locating in West Virginia will not just create jobs, but also heavily rely on coal to do it.

“Today, 60 more West Virginians will have good paying jobs and the coal industry will have a new customer,” Tomblin said.

He made the announcement surrounded by executives from Carbonyx International USA and representatives of the state Department of Commerce.

David M. Mistich

A plastics manufacturer that employs 130 workers in Wood County is closing the plant on land where a Brazilian petrochemical giant is exploring the possibility of building several facilities.  

SABIC Innovative Plastics informed employees at its Washington facility on Thursday.
 
That news came shortly before Gov. Earl Ray Tomblin announced Odebrecht had chosen the same site to explore the possible location of an ethane cracker plant and three polyethlene plants.

Will W.Va. Get an Ethane Cracker Plant?

Nov 14, 2013
Odebrecht logo
wikimedia / Wikimedia Commons

Gov. Earl Ray Tomblin announced this afternoon that a Brazilian petrochemical company, Odebrecht, has chosen a site in Wood County to explore the possible location of an ethane cracker plant and three polyethlene plants. 

The governor was disappointed when Shell announced a few years ago it was choosing Pennsylvania over West Virginia for a cracker plant.  And he’s wanted one ever since.

Growing entrepreneurship. That was the focus of the Appalachian Regional Commission’s annual conference in Charleston.

Members from the 13 Appalachian states shared their experiences and ideas on how to create an environment that will encourage entrepreneurs to start or grow their businesses into the future, but many agreed it starts with education.

Fire in downtown Marlinton
Heather Niday / Allegheny Mountain Radio

Marlinton Mayor Joe Smith says a fire that destroyed four buildings is devastating for his city.
 
     The Sunday fire displaced several businesses and about a dozen residents. The fire rekindled Monday.
 
     In addition to displacing people, Smith says the fire will have a significant economic impact. He says the city has lost some of its tax base.
 

Rick Haye - Marshall University Communications

Forums held across southern West Virginia this week are focused on budget cuts in higher education. Sponsored by Marshall University, a forum Thursday evening in South Charleston will allow legislators to hear new ideas on how colleges and universities plan to deal with the cuts. Thursday's discussion is the last in a series of three such forums.

Flickr / davidwilson1949

West Virginia's tax revenue slide is continuing as October's collections fell about $8 million below estimates.
 
     Deputy revenue secretary Mark Muchow tells media outlets that collections of personal income, consumer sales and business and occupation taxes were all below estimates.
 
     Personal income and consumer sales taxes are the state's biggest sources of tax revenue.
 
     Natural gas production boosted severance tax collections above estimates. But Muchow says it wasn't enough to offset the declines.
 

In downtown Parkersburg sits the federal Treasury Department's headquarters of the Bureau of the Public Debt. Employing more than 1,800 at that location, the agency is responsible for managing, selling and accounting for the more than $17 trillion that U.S. taxpayers owe to themselves, to Social Security, and to foreign investors. The federal government is also Parkersburg's largest employer.

West Virginia tends to get put on a lot of lists that ultimately reflect poorly on the state. Here's one that we can all be proud of.

  A Marshall graduate recently visited Huntington to share a story of motivation. The alumna now owns a company that specializes in using technology for marketing campaigns.  

Paula Tompkins spoke to college students and alumni last week at the Marshall University Foundation Hall. The native Huntingtonian and alum of Marshall had a complex, but simple message. To succeed in the business world entrepreneurs have to be persistent, focused and find an idea that’s not already addressed.

Cecelia Mason / West Virginia Public Broadcasting

The economic outlook for West Virginia’s Eastern Panhandle over the next five years looks good according to West Virginia University’s Bureau of Business and Economic Research.

The state has added about 3,000 jobs since the middle of last year according to this year’s Outlook report. John Deskins, Bureau director, presented the outlook for the Eastern Panhandle to a ballroom full of business leaders from Berkeley, Jefferson and Morgan Counties gathered at the Martinsburg Holiday Inn, beginning with a look at the statewide forecast.

A new, free hospitality training program is available online. WV Welcome is a free course designed to help folks in the tourism industry better serve guests from out of state.

Jerry Henderson became an advocate for hospitality when she opened her own Bed and Breakfast about 20 years ago in Buckhannon.  She now serves as the treasurer of WV Hospitality and Travel Association and says knowing the best ways to be a gracious host is not only good for business, it’s good for the state.

Cecelia Mason / West Virginia Public Broadcasting

The West Virginia Public Service Commission got an earful from Eastern Panhandle electric customers unhappy with Potomac Edison’s billing practices during a public hearing Wednesday evening and Thursday morning in Shepherdstown, W.Va.

Customers are upset because last winter and spring they received estimated monthly bills that were much higher than normal. In some cases the electric company did estimated readings several months in a row. Delegate Stephen Skinner (D-Jefferson) was among those who spoke during the hearing.

The Horizontal Well Control Act of 2011 required studies be conducted to gain a more profound understanding of all that's entailed in the natural gas drilling that's sweeping northern West Virginia. Those reports are coming due, and legislators are hearing from scientists who have been looking into the matter.

Two major reports are being discussed in Charleston this week. One looks at air and noise pollution, while another considers water use related to Horizontal Well drilling.

1. Air and Noise

Ashton Marra

The governor, the legislature, even a special commission on highways are all looking for ways to fund state roads. A select committee on Infrastructure is trying to find ways to save money and increase efficiencies by combining the Division of Highways and the governing authority of the state’s Turnpike, but simply combining the two would create serious legal implications for the state.

Shane Flanigan

An Israeli General Consul is in West Virginia this week visiting lawmakers as well as both Jewish and Christian groups.

Sideman met with members of a Morgantown synagogue yesterday who were not happy with his participation in an event featuring a prominent evangelical Christian politician.

Cultural Ties?

region1workforcewestvirginia.org

West Virginia historically has one of the lowest workforce participation rates in the nation according to statistics from WorkForce West Virginia, but the director of research for the organization told lawmakers it may be more than an older population contributing to that number.

Director Jeff Green defined workforce participation as the percentage of the population over the age of 16 actively seeking employment or already employed.

Cecelia Mason / West Virginia Public Broadcasting

A new Kentucky café caters to Alzheimer’s patients and their families.

Arts and Culture provide economic development in one Kentucky county.

A new book profiles one of West Virginia’s most picturesque river valleys.

And ink lovers turn out for the first WV tattoo expo.

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