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Cabinet Secretary of Economic Development Mitch Carmichael said he’ll now have more time to bring new industry and jobs to West Virginia because he is giving up some of his duties.
We’ve got several on our radar,” Carmichael said, “And, we’ve got a great portfolio of prospects that are moving through to conclusion.”
A few weeks ago, with little fanfare, Gov. Jim Justice appointed his senior adviser Larry Pack as the Economic Development Authority Board Chairman. Carmichael said he has held both positions for the last three years.
Pack said as EDA chair, he will help keep the governor informed in checking out potential economic development projects. He said Justice is getting more involved with EDA decisions.
Carmichael has been the state’s ‘front man’ in announcing recent major corporations coming to West Virginia. Many of those projects have received loans from the EDA. Carmichael said in his Cabinet Secretary position, he recruits all the companies and puts together the grant and loan packages, and some separation makes sense.
“The Economic Development Authority is the banker that makes some of the loans and allocates some of the funds for the packages that we put together,” Carmichael said. “We just thought that there would be a better way to separate those two roles.”
The West Virginia EDA was formed in 1962 to provide loans, direct financing and leases to promote and retain new and existing commercial and industrial businesses by issuing money, credit, or credit enhancement.