Tag: Marshall University Center for Business and Economic Research

Renewable Energy Conference Set at Marshall University

Marshall University is holding a renewable energy conference this week.

The conference will take place Thursday at the Brad D. Smith Foundation Hall in Huntington.

The university says in a news release that the conference is being hosted by the state Division of Energy and Marshall’s Center for Business and Economic Research. It will bring together people and groups who have implemented and managed renewable energy projects.

Presentations are planned from West Virginia-based business, research and project development leaders in areas such as solar, hydropower and biomass.

The event is free and open to the public. Registration is required.

Businesses Lose $61 Million Because of Elk River Spill

A local research group has calculated that roughly $61 million was lost by local businesses as a result of the chemical spill into the Elk River.

The Center For Business and Economic Research at Marshall University conducted a preliminary investigation on the impact of the January 9th chemical spill into the Elk River. They wanted to see what the loss of water and the subsequent closing of restaurants and other businesses meant to the economic climate in the 9 counties effected by the water ban. And what all that meant for those that live on tips and pay-checks from week to week.

CBER estimates:

  • That for each day that the ban was fully in place $19 million was lost.
  • For the two business and weekend days, that number equals close to $61 million.
  • That’s 24 percent of the economic activity in the 9 county area. 
  • Nearly 75,000 workers were effected, which represents 41 percent of area workers. 

According to CBER the high number is indicative of the type of businesses that were most affected, restaurants, bars and the like and the lower-wage, service-producing personnel that work at those facilities. She said it will take a while before even the businesses know what the ban will mean long-term.  

"Some of them will never be able to regain what they've lost from that first week or four days and some of them, their customers may come back stronger now." – Christine Risch, Director of Resource and Energy Economics

The estimated $61 million lost does not include the cost of cleaning up the spill or any emergency funds spent during spill. 

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