WVBusinessNews.com

Legislature passes tax relief bill aimed to bring ethane 'cracker' plant to West Virginia

2012-01-25T16:22:00.000-05:00

CHARLESTON -- On a 33-0 vote the West Virginia Senate has passed a bill designed to help attract an ethane steam cracker plant to West Virginia by lowering the amount of property taxes a developer would pay to build and operate such a plant.
The bill, House Bill 4086, passed the Senate today after earlier passing in the House of Delegates.
Following the bill's passage in the Senate, Gov. Earl Ray Tomblin issued the following statement.
"To spur economic development, attracting an ethane steam cracker has been my number one goal and I am so pleased, with this vote, the Legislature has sent a clear signal that they are joining me in this effort.
"It is through bipartisan support, like this and that of last month's historic Horizontal Well Act Relating to Marcellus Shale, that we show potential investors West Virginia is ready and willing to take the development of our vast natural gas reserves to the next level in order to help address our country's energy needs and expand our manufacturing sector.
"This tax relief bill, I believe, showcases our State's commitment to being a great business partner today and long into the future," said Tomblin.
The governor proposed H.B. 4086 which reduces personal property taxes for a company that builds an ethane cracker in West Virginia that has a minimum of $2 billion in investment. Instead of taxing the property at 5 percent of it is original value for 10 years, the bill extends the salvage value tax treatment of 5 percent for 25 years.

Small business workshops set for Feb. 7 in Charleston

2012-01-25T16:16:00.000-05:00

CHARLESTON— Two small business workshops are scheduled for Tuesday, Feb. 7, in Charleston. The workshops “Business Fundamentals” and “Sustainable Growth” are part of the West Virginia Small Business Development Center (WVSBDC) new training and business coaching program Three Step Jump Start to help small business owners receive the right information at the right time.

Three Step Jump Start helps entrepreneurs and small business owners in West Virginia accelerate their potential success by learning the structure and services provided by WVSBDC.

This first step is accomplished by viewing a video located on the agency’s web site, www.wvsbdc.org. Entrepreneurs and business owners can then attend one of two workshops held each month.

One workshop is designed specifically for start-ups and new businesses and the other for existing and mature businesses.

The workshops are: 9 a.m. to noon: “Business Fundamentals” is designed specifically for people who are thinking of starting a business, or have had a business for one year or less. The workshop provides essential information on what an entrepreneur needs to know to start a business successfully. There is a $35 per person fee per workshop.

1 to 4 p.m.: “Sustainable Growth” is designed for existing and mature businesses in operation for a year or more. The workshop provides essential information for what a business owner needs to know to build, expand or refresh a business. There is a $35 per person fee per workshop.

Both workshops will be held in Room 133 of the Schoenbaum Building, 1701 Fifth Avenue, Charleston.

To register, call Dreama Wolfingbarger at (304) 957-2083 or email dreama.l.wolfingbarger@wv.gov. Registration is required at least two days in advance.

Most West Virginia counties report rising unemployment rate

2012-01-25T16:12:00.000-05:00

CHARLESTON -- West Virginia’s unemployment rate climbed six-tenths of a percentage point to 7.7 percent in December 2011, and nearly all counties in the state recorded rising unemployment rates as well, according to data released by WorkForce West Virginia.

The number of counties recording an unemployment rate considered much worse than average when compared to the state rate rose slightly. This group included Roane (11.8), Webster (12.6), Grant (12.6), and Calhoun (12.7).

The number of counties reporting an unemployment rate considered better than average when compared to the state rate declined in December. This group included Ohio (6.5), Putnam (6.4), Gilmer (6.3), and Jefferson (5.9). Once again, Monongalia (5.0) was the sole county recording an unemployment rate considered much better than average when compared to the state rate.

West Virginia unemployment rate rose to 7.7 percent in December

2012-01-25T16:08:00.000-05:00

CHARLESTON -- West Virginia’s unemployment rate climbed six-tenths of a percentage point to 7.7 percent in December, WorkForce West Virginia has reported.

The number of unemployed state residents rose 4,800 to 59,600. Total unemployment was down 13,400 over the year.
Total nonfarm payroll employment declined 3,600, where a loss of 4,100 in the goods-producing sector countered a gain of 500 in the service-providing sector.
Within the goods-producing sector, employment declines included 2,900 in construction, 800 in mining and logging, and 400 in manufacturing. Within the service-providing sector, employment growth included 500 in educational and health services, 300 in professional and business services, 300 in financial activities, and 200 in other services. Employment declines included 300 in government, 200 in trade, transportation, and utilities, 200 in information, and 100 in leisure and hospitality.
West Virginia’s seasonally adjusted unemployment rate remained at 7.9 percent in December, while the national rate declined two-tenths of a percentage point to 8.5 percent.

New exhibit to highlight the history of the chemical industry in the Kanawha Valley

2012-01-13T15:41:00.000-05:00

CHARLESTON -- The West Virginia Division of Culture and History will unveil a new exhibit, The Chemical Valley: West Virginia’s Gift to the World, on Sunday, Jan. 22, at the Culture Center, State Capitol Complex in Charleston. The public is invited to view the exhibit during an opening reception beginning at 2 p.m. that day. The exhibit will be on display through May 6.

The new exhibit will feature the many contributions and developments made by the manufacturing and chemical industries of West Virginia and particularly those companies located in the Kanawha Valley. Items on display will include a circa 1958 model of Union Carbide’s Synthetic Organic Chemical Manufacturing Unit as well as a firefighting system used in 1940 at DuPont Belle Works and an early salt pot. The main wall of the exhibit will be set up to resemble a laboratory complete with beakers and flasks.

In celebration of the International Year of Chemistry in West Virginia, visitors also will see a collection of tools, products, photographs and documents from the 20th century when the Kanawha Valley was considered the chemical center of the world. The International Year of Chemistry is a worldwide celebration of the achievements of chemistry and its contributions to the well-being of humankind.

The reception will feature several guest speakers as well as provide opportunities for former and current workers to document on videotape their reflections on what it is like to work in the chemical industry. Recording sessions will be available on a first-come, first-served basis from noon to 5 p.m.

The reception is being sponsored and coordinated by the American Chemistry Council, the Chemical Alliance Zone, the West Virginia Manufacturers Association, TechConnectWV, Dow Chemical, MATRIC, West Virginia State University, Marshall University, the South Charleston Museum Foundation and other partners.

NCO Group announces plan to add 90 additional jobs in Charleston

2012-01-13T14:33:00.000-05:00

CHARLESTON - The NCO Group, Inc. ("NCO"), a leading provider of business processing services, will hire approximately 90 new associates in its Charleston contact center, the company announced today. The hiring will expand NCO's presence in Charleston and also includes over $350,000 of new investments in equipment and training.
Employment opportunities will include positions providing direct customer service support for one of NCO's leading utility clients. Additional roles will also be available for managers, trainers, and supervisors. Positions are full-time and include a complete employment benefit package. Using a range of communication channels such as phone, email and text messaging, associates will learn and apply skills in areas of customer care and support.
Commenting on the expansion, Jack Jones, Chief Operating Officer, NCO, said in a prepared statement, "This is an excellent opportunity to expand our services for one of our premier clients. The combination of this business expansion, our talented team in Charleston and our ongoing relationship with the state of West Virginia is very positive for all."
The company worked closely with the West Virginia Development Office and the Charleston Area Alliance to retain the investment in Charleston. Hiring is already underway. Interested candidates may apply at the company website www.ncogroup.com/careers or call 412-249-5300 for more information. The contact center is located at 408 Leon Sullivan Way, Charleston, WV 25301.

Baker Hughes to build new $40 million center in Harrison County

2012-01-13T14:27:00.000-05:00

BRIDGEPORT -- Baker Hughes, one of the world's largest oilfield service companies, has announced plans to build a new $40 million center in Harrison County. The new facility will be built on a 52-acre site Baker Hughes recently purchased outside Bridgeport, northeast of the intersection of I-79 and State Highway 131. The project will consolidate two existing facilities into one significantly larger center. The consolidation will preserve more than 200 existing West Virginia jobs and is expected to create an estimated 275 new jobs in the coming years as the center becomes fully operational. The new positions are expected to range from engineers and scientists to gas field workers.
Construction on the new center is scheduled to begin in the first quarter of 2012 and reach completion within one year.
"Our $40 million investment in the heart of the Marcellus reflects our confidence in the long-term viability of West Virginia's shale resources and Baker Hughes' long-standing commitment to a key region where we live and work," said Baker Hughes' President of U.S. Land Paul Butero in a prepared statement. "Our new center in Bridgeport will bring additional construction jobs and allow us to hire more local scientists, engineers and mechanics to staff our new labs, workshops and maintenance bays. We share in the enthusiasm about the cultivation of West Virginia's budding energy opportunities."
The new facility will include:
*A 38,600-square-foot, two-story office building. The office complex will contain more than 90 offices and workstations, 50 engineering stations and a 5,000 square foot testing laboratory.
*An 83,710-square-foot workshop with eight vehicle maintenance bays, vehicle maintenance storage, fishing workshop, customer completion workshop and warehouse functions.
* Five auxiliary buildings that will include warehouse space and a three-bay truck wash/fueling station.
The auxiliary buildings will support a fleet of up to 250 drilling operations vehicles. The drilling vehicles will service customer oil and gas wells throughout West Virginia.
Baker Hughes is a leading supplier of oilfield services, products, technology and systems to the worldwide oil and natural gas industry. For more information, visit http://www.bakerhughes.com/.

National Association of Entrepreneurship recognizes WVU professor

2012-01-06T12:51:00.000-05:00

MORGANTOWN -- James Smith, a professor of mechanical and aerospace engineering at West Virginia University, has been selected as an award recipient by the National Association of Entrepreneurship.
The NAE 250 Awards are presented annually to leaders who excel in free enterprise.
A member of the faculty since 1976, Smith has been involved in technology transfer from academia into the commercial sector. To date, he has been granted more than 30 U.S. patents and helped 11 companies that now market commercial applications of technology developed at or through the University. Prior to joining the staff at WVU, Smith was a research engineer for the Department of Energy and a business owner.
The NAE is a Washington, DC-based association whose mission is to advance free enterprise. Chief among its goals is providing and expanding opportunities for America’s emerging mid-market companies to grow and succeed in a competitive global economy. NAE helps promote business excellence through peer connectivity, institutional partnerships, information and education.
The award will be presented at the NAE 250 Awards Showcase AND First Generation Summit, scheduled for January 11-12, at Nemacolin Woodlands Resort, in Farmington, PA.

Protea Biosciences Group recognized by international research journal

2012-01-06T12:44:00.000-05:00

MORGANTOWN – Protea Biosciences Group Inc., has been selected by The Scientist, an international research journal of the Life Sciences industry, to receive its Top Ten Innovative Technologies award for the year 2011.

In the January 2012 issue, The Scientist selected Protea’s LAESI DP-1000, a new instrument developed by Protea that eliminates time-consuming sample preparation steps, and allows rapid molecular analysis of biological samples.

“On behalf of our employees, shareholders and customers, we thank The Scientist for its selection of LAESI DP-1000, which we believe is a game-changing life sciences instrument, that has the potential to dramatically accelerate and reduce the costs of biomedical discovery”, said Steve Turner, Protea’s CEO. He added, “Through Protea, West Virginia is creating world-class biotechnology and successfully competing in the global biosciences sector.”

LAESI technology was invented in the laboratory of Akos Vertes, PhD., George Washington University, and exclusively licensed to Protea. Using the LAESI DP-1000 instrument developed by Protea, large numbers of biomolecules can be rapidly identified and spatially mapped via imaging to cell structures, and tissues.

“What makes the LAESI DP-1000 unique is that it is a universal platform - one that can be used to analyze all types of biological samples, including tissue biopsies, live cells, blood, and other biofluids,” Turner said. “It allows the direct, molecular analysis of living cells.”

The Scientist is an International print and digital publication, dedicated to covering a wide range of topics central to the study of cell and molecular biology, genetics, and other life-science fields.

Protea is a leader in the field of bioanalytics - the identification and analysis of proteins and other biomolecules that are produced by living cells, technology that is essential to pharmaceutical and medical research.

January 2012 Open for Business Report released

2012-01-06T12:38:00.000-05:00

CHARLESTON – Gov. Earl Ray Tomblin has released the latest “Open for Business” report documenting the state’s economic progress. The January 2012 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.

ACCESS TO $13 MILLION CREDIT INITIATIVE TO FUEL WEST VIRGINIA SMALL BUSINESS GROWTH
The U.S. Department of the Treasury has approved West Virginia’s application for State Small Business Credit Initiative funding. The approval will give West Virginia access to $13.1 million in federal dollars to fund new small business lending programs. Administered through the state’s new West Virginia Capital Access Program (WVCAP), the funding will enable small businesses to leverage new capital and credit to create private sector jobs. WVCAP is expected to go into effect during the first quarter of 2012.

INTERNATIONAL SCIENCE JOURNAL RANKS PROTEA AMONG TOP 10 INNOVATIVE TECHNOLOGIESI
Bioanalytics firm Protea Biosciences has been selected as a Top 10 Innovative Technologies. The honor is being bestowed by “The Scientist,” an international life sciences journal. Protea earned the award for its Laser Ablation Electrospray Ionization (LAESI) technology, described as the world’s first technology that allows real-time molecular imaging, including the molecular analysis of live cells. LAESI was invented by researchers at George Washington University and exclusively licensed worldwide to Protea Biosciences. Protea has now completed the development of the world's first LAESI instrument systems, financed largely by a loan from West Virginia Jobs Investment Trust, the state’s venture capital fund. Morgantown-based Protea was launched as a spin-off from West Virginia University in 2001. The firm has 45 employees.

PRICHARD INTERMODAL FACILITY PROJECT RECEIVES $12 MILLION
The West Virginia Ports Authority has been awarded $12 million by the U.S. Department of Transportation to construct an intermodal terminal along Norfolk Southern’ s Heartland Corridor near Prichard. The Prichard Intermodal facility is being developed to serve as a cargo-transfer station along the Norfolk Southern rail line. Once completed, the facility will give industries in West Virginia, Ohio and Kentucky more modern and efficient freight container service and improved access to international rail lines.

WVU CAFEE COMPLETES FUEL ECONOMY RESEARCH ON MILITARY COMBAT VEHICLES
West Virginia University’s Center for Alternative Fuels, Engines and Emissions (CAFEE) has completed research on the effects of nanoscale catalysts on the fuel economy of military combat and tactical ground vehicles. The results could mean huge financial savings for America’s defense and another significant step toward overall energy efficiency. The study was conducted for the U.S. Department of Defense and ManTech International, a Washington, D.C.-based defense contractor. The research hypothesized that nanoscale fuel-borne catalysts – such as platinum, cerium and other metallo-organic additives – could be combined with traditional engine fuel as catalysts to improve fuel efficiency. CAFEE, a part of WVU's Advanced Energy Institute, is a worldwide leader in the research and development of improved transportation and power system efficiency, while working toward a cleaner environment.

WVEDA APPROVES $726,360 FOR NEW, EXPANDING BUSINESSES
The West Virginia Economic Development Authority (WVEDA) approved a new loan during its December 2011 meeting:
• M-Rock, $359,610, for the expansion of an existing building and the acquisition and installation of equipment. The Monroe County business manufactures shaped and colored cement and stone veneer products. The expansion will allow M-Rock to manufacture its recently-introduced Mortarless Stone Innovations (MSI), a stone veneer product that installs with screws instead of mortar. M-Rock currently has 43 employees and expects to increase that number to as many as 95 after three years.
• Architectural Wood, $366,750 aggregate, for site and equipment acquisition related to start-up. Based in Ronceverte in Greenbrier County, the company was established in 2011. It manufactures and installs high-grade architectural woodwork, casework and custom furnishings.

SAUCY JACKSON COUNTY FIRM WINS FOUR PRESTIGIOUS SCOVIE AWARDS
Miss Mona’s Sauces and Spices scooped up four awards from the Scovie Awards. The annual competition recognizes the top fiery foods products from around the world. This year’s event included 792 products and 161 companies from 38 states and four countries. Miss Mona’s entries placed in the top three in their respective categories: Extra Hot Salsa, category Processed Salsa/XX Hot, first place; Caribbean BBQ, category Barbeque Sauce, second place; Liquid Lucifer, category Extreme Sauce, second place; and Tropical Salsa, category Processed Salsa/Fruit, third. Entering the Scovie Awards was the first time the Sandyville-based company had taken part in a food competition, said owner Ramona Price.

CHARLESTON EAST END IS GREAT AMERICAN MAIN STREET AWARD SEMIFINALIST 
Charleston East End has been selected from a nationwide pool of applicants to be one of 10 semifinalists in the final round of competition in the 2012 Great American Main Street Awards® (GAMSA). The National Trust for Historic Preservation will present the final five winners at the Main Street Awards Ceremony during the National Main Streets Conference in Baltimore, Md., on April 2, 2012. The annual award recognizes the participating communities for their exceptional accomplishments in revitalizing the nation’s historic and traditional Main Street commercial districts by using the proven Main Street Four-Point Approach®.

WORKFORCE WEST VIRGINIA TAKES PART IN MARSHALL COUNTY OIL AND GAS INDUSTRY JOB FAIR
WorkForce West Virginia participated in a job fair at the Mollohan Training Center in Moundsville on Nov. 30. The event was sponsored by the West Virginia Independent Oil and Gas Association. Approximately 40 employers and training providers were onsite and an estimated 1,250 job seekers attended.  West Virginia employers can file job orders and search for qualified applicants 24/7 via the WorkForce West Virginia website at www.workforcewv.org.

Marshall University maintains accreditation for College of Business

2012-01-06T12:27:00.002-05:00

HUNTINGTON — The College of Business at Marshall University has maintained its business accreditation as well as its accounting accreditation by AACSB International—The Association to Advance Collegiate Schools of Business.

AACSB International is the longest-serving global accrediting body for business schools that offer bachelor’s, master’s and doctoral degrees in both business and accounting.

Marshall University is one of two institutions in West Virginia to hold AACSB accreditation. As of December 2011, only 643 schools of business worldwide are AACSB accredited and only 176 institutions have AACSB’s additional accounting accreditation.

To maintain business accreditation, programs undergo an internal review every five years, at which they must demonstrate a continued commitment to the 21 quality standards relating to faculty qualification, strategic management of resources, interactions of faculty and students, as well as a commitment to continuous improvement and achievement of learning goals in degree programs.

To maintain accounting accreditation, an institution must first earn or maintain AACSB Business Accreditation as well as meet an additional 15 standards that are specific to the discipline and profession of accounting.

To learn more about Marshall University’s College of Business and its Accounting Division, visit www.marshall.edu/lcob. To learn more about AACSB accreditation, visit www.aacsb.edu/accreditation.

September 2010 Open for Business report released

2010-09-03T14:36:00.000-04:00

CHARLESTON – Gov. Joe Manchin has released the latest “Open for Business” report documenting the state’s economic progress. The September 2010 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.

Eight West Virginia firms among Inc.’s 5,000 Fastest Growing
Inc. magazine’s fourth annual list of the top 5,000 fastest growing private companies includes eight from West Virginia. They are Cenergy (#392), in Milton, Cabell County; HMS Technologies (#638), in Martinsburg, Berkeley County; The McEvoy Administration (#764), in Inwood, Berkeley County; McKinley Carter Wealth Services (#1508), headquartered in Wheeling, Ohio County; Reliable Environmental Transport (#2426), in Bridgeport, Harrison County; Performance Results (#2642), in Morgantown, Monongalia County; KeyLogic Systems (#2715), in Morgantown, Monongalia County; and Advanced Technical Solutions (#3236), in Scott Depot, Putnam County.

Frontier Communications reports 250 jobs available in West Virginia
Frontier Communications announced it has about 250 jobs available in West Virginia. Most of the posted jobs are for technicians, but also include some sales and other support positions. Some positions specify terms such as up to 36 months; others are listed as full-time/regular. The openings appear in various locations across the state. Frontier purchased Verizon's land line telephone operations July 1. For more information, visithttp://corporate.frontier.com/Careers.

Hino Motors unveils 2011 model trucks at Wood County plant
Hino Motors Manufacturing USA Inc. brought out its 2011-model line of trucks with a celebration at its Williamstown plant. Gov. Joe Manchin joined other state and national officials as well as company executives at the Aug. 23 ceremony. The event heralded the commercial sales of the new 2011 model truck. The new Hino truck has a selective catalytic reduction system which converts much of the truck’s diesel emissions to nitrogen. The new model is the only medium duty conventional truck that meets Environmental Protection Agency requirements for diesel engine emissions.

West Virginia exports climb nearly 40 percent in first half of 2010
West Virginia’s exports reached $3 billion in the first half of 2010, an increase of 39.5 percent compared to the same time period in 2009. That outpaces the U.S. export growth rate of 23.8 percent for the same period. The top 10 markets for West Virginia exports during January-June 2010 are Canada, Japan, India, Brazil, China, Netherlands, Belgium, United Kingdom, Italy and France. The product sector that achieved the biggest growth spurt was plastics/polymers, jumping more than 70 percent from the first half of 2009 to the same period in 2010. Increases were also reported in automotive components and machinery (63 percent each). The International Division of the West Virginia Development Office facilitates international trade development by organizing trade missions, providing consulting and offering other services to encourage West Virginia businesses to pursue export markets.

Paramount Pictures schedules Sept. 3-4 casting calls for film in Weirton area
Paramount Pictures announced it plans to shoot footage for a film titled “Wickham” in Weirton and surrounding areas from late September to mid-October. Casting calls for extras will be held starting at 6:30 p.m., Sept. 3, at the Jimmy Carey Stadium on West Street in Weirton; and on Sept. 4,at the Millsop Community Center, 3420 Main Street, Weirton, from 10 a.m. to 1 p.m. Prospective extras may apply only once and at only one casting call. Paramount is participating in the West Virginia Film Industry Investment Act, a tax credit program designed to recruit film industry business into the state. The West Virginia Film Office is a section under the West Virginia Department of Commerce, Division of Tourism, and can be visited at www.wvfilm.com.

Statewide symposium examines science and sustainable economy, Sept. 27-28
Registration is now underway for the Science, Technology and Research Symposium at Marshall University. Held Sept. 27-28, the symposium will focus on West Virginia-based research and the importance of sustainable, technology-driven economic development. Held in Huntington for the first time, the symposium will showcase the work of the state’s scientists. To register, contact jessica.tice@wvresearch.org or call 304-558-4128.

Distributor plans $2 million warehouse expansion in Wayne County
House-Hasson Hardware plans a $2 million expansion to its warehouse in Prichard. The 100,000-square-foot addition will include new truck dock areas and improvements to the heating system. When the expansion is completed in January 2011, the facility will total 300,000 square feet. Based in Tennessee, House-Hasson is an independent regional hardware distributor serving 17 states, the Caribbean basin and several countries.

NASA IV&V to expand space for work force in Fairmont’s I-79 Technology Park
NASA’s Independent Verification and Validation (IV&V) Program plans to lease additional office space in the I-79 Technology Park in Fairmont. The agency recently received approval to lease 33,380 square feet of office and related space. NASA IV&V was one of the original tenants in the Technology Park nearly 20 years ago. As the program grew, many contractors had to be located off site. The leased space will allow NASA to bring 135 members of the combined work force into one building this fall. The original facility will continue to serve many NASA civil-service, National Oceanic and Atmospheric Administration, U.S. Army project and contractor personnel.

MITRE opens office in Harrison County
The MITRE Corporation officially opened its office in Bridgeport with a ribbon cutting ceremony in August. The site is located in the White Oaks Business Park and houses 10 technical and administrative staff. MITRE had operated in a temporary office in Clarksburg since 2008. MITRE is a not-for-profit organization that provides systems engineering, research and development, and information technology support to the government. It operates federally funded research and development centers for the Department of Defense, the Federal Aviation Administration, the Internal Revenue Service and Department of Veterans Affairs, and the Department of Homeland Security.

Simonton Windows® Takes Top Honors in Two J.D. Power Rankings
For the third consecutive time, Simonton Windows® has ranked highest in the J.D. Power and Associates 2010 Builder and Remodeler Residential Window and Patio Door Satisfaction StudySM. Simonton Windows also captured the highest rating by consumers in the J.D. Power and Associates 2010 Windows and Patio Doors Satisfaction StudySM. Simonton Windows is part of the home and security business of Fortune Brands, Inc. Simonton Windows produces ENERGY STAR® qualified replacement and new construction windows and doors, including a line of impact-resistant products. Based in Parkersburg, Wood County, Simonton operates seven manufacturing facilities nationwide, including three in Ritchie County.

RCBI marks 20th anniversary in tech training and manufacturing
The Robert C. Byrd Institute for Advanced Flexible Manufacturing (RCBI) celebrated its 20th anniversary with an open house and graduation ceremony in Bridgeport. For the first time, the RCBI Machinist Technology Program graduation combined students from RCBI courses in Bridgeport, Huntington, Wheeling and Rocket Center. Graduates received National Certifications from the National Institute for Metalworking Skills. The open house featured seminars, demonstrations and technology displays from machine tool vendors and equipment suppliers from across the region. The current RCBI class started courses on Aug. 23 in Huntington, Bridgeport, Rocket Center and Wheeling.

WVU receives $6.5 million grant for study to detect gravitational waves
West Virginia University has received a $6.5 million grant to establish an international team to research gravitational waves. The grant was awarded by the National Science Foundation’s Office of International Science and Engineering and the Division of Astronomical Sciences as part of the Partnerships for International Research and Education program. The gravitational waves are a key prediction of Albert Einstein’s theory of general relativity but have not yet been directly detected. The international team will use a series of radio telescopes around the world, including those in Green Bank, W.Va., to observe signals from pulsars over several years. This effort will enable the scientists to directly test for the existence of gravitational waves. According to the project’s principal investigator, WVU’s Maura McLaughlin, the direct detection of gravitational waves could enable studies of black holes within massive galaxies and the space-time dynamics of early stages of the universe.

WVEDA approves $2.2 million for three businesses in Harrison and Monongalia counties
The West Virginia Economic Development Authority (WVEDA) approved loans totaling $2,259,000 for three businesses during its August meeting:
• Mid Atlantic Aerospace Complex, $700,000 to finance the acquisition of a hanger/warehouse facility at Benedum Airport, Bridgeport, Harrison County. The facility will be leased to Aurora Flight Sciences. Mid Atlantic Aerospace Complex is a non-profit economic development organization that promotes the aerospace industry in West Virginia. Aurora Flight Sciences develops, markets and operates a new generation of robotic aircraft. Currently, Aurora Flight Sciences employs 108 people and projects an increase to 139 after three years.
• Protea Biosciences Inc., $900,000 to purchase and install analytical testing equipment at its facility in Morgantown, Monongalia County. Protea develops new technologies that improve direct analysis of proteins and other biomolecules. Currently the firm has 34 employees and expects to expand to 71 posts — nine of which would be directly related to this expansion project – after three years.
• White Oaks Professional Building One Inc., $659,000 to finance a new building in Clarksburg, Harrison County. The building will be leased as the headquarters of EQT Corporation an oil and gas exploration firm. The building will serve as the headquarters for EQT geologists and field personnel working in the Marcellus Shale formation.

State releases list of West Virginia's Top 100 private employers - Wal-Mart remains No. 1

2010-09-01T15:38:00.000-04:00

   CHARLESTON — WorkForce West Virginia’s list of the 100 largest private employers, compiled from data for the first quarter 2010, ranks retail giant Wal-Mart as the state’s largest employer. Wal-Mart has maintained this position since 1998.

   The list, released today, contains businesses with both single and multiple locations and ranks companies according to the number of employees. The data are extracted from the Quarterly Contributions Report for the first quarter of each year and are available to the public by the third quarter of each year.

   West Virginia’s top five largest private employers are Wal-Mart, West Virginia United Health System, Charleston Area Medical Center, Kroger, and American Electric Power, all unchanged from 2009.

   Several employers in the top 10 have shifted positions, and two employers not found in the top 10 last year now make an appearance. These new additions are Res-Care, Inc. and Mylan Pharmaceuticals.

   The top 10 employers in total had 143 fewer employees in the past year, faring well when compared to the total for all private sector employment in the state which declined nearly 17,000 from the first quarter 2009 to the first quarter 2010. The sum employment of the top 100 employers declined by just over 4,400 from March 2009. Analysis of all private employers by size indicated all size groups except the group employing 500 to 999 people lost both units and employment over the past year.

   Just over one-half of employers on the top 100 list climbed in rank, while nearly a quarter of businesses descended in rank. Six employers not present on last year’s top 100 made their appearance on this year’s list.

   This list was prepared from information provided by employers covered under the unemployment compensation insurance system, through the federal/state Quarterly Census of Employment and Wages Program conducted in West Virginia by the Bureau of Labor Statistics, U.S. Department of Labor and the Research, Information and Analysis Division of WorkForce West Virginia.

   The lists for the state and counties for each year since 1999 and workforce investment areas since 2002 can be found on the website: www.workforcewv.org/lmi or by contacting the Research, Information and Analysis Division at 304.558.2660.

The 2010 Top 100 list

1. Wal-Mart Associates, Inc.
2. West Virginia United Health System
3. Charleston Area Medical Center, Inc.
4. Kroger
5. American Electric Power
6. Consolidation Coal Company
7. Lowe's Home Centers, Inc.
8. St. Mary's Hospital
9. Res-Care, Inc.
10. Mylan Pharmaceuticals, Inc.
11. Cabell Huntington Hospital, Inc.
12. Wheeling Hospital, Inc.
13. Pilgrim's Pride Corporation of West Virginia
14. Mentor Management, Inc. (Mentor Network, The)
15. Verizon
16. E I DuPont De Nemours & Company
17. Rite Aid of West Virginia, Inc.
18. Allegheny Energy Service Corporation
19. West Virginia University Medical Co. (University Health Associates)
20. Bob Evans Farms, Inc.
21. Mountaineer Park, Inc.
22. Alliant Techsystems, Inc.
23. Camden-Clark Memorial Hospital
24. Monongalia General Hospital
25. West Virginia's Choice, Inc.
26. K Mart Corporation
27. Aker Construction, Inc.
28. DOLGENCORP, Inc. (Dollar General Stores)
29. Herbert J Thomas Memorial Hospital Association
30. Greenbrier Hotel Corporation
31. BB&T Corporation
32. PNGI Charles Town Gaming, Ltd.
33. GMRI, Inc.
34. Go-Mart, Inc. 34 43 44
35. Teletech Customer Care Management (West Virginia), Inc.
36. Raleigh General Hospital, LLC
37. Cracker Barrel Old Country Store
38. Dominion Transmission, Inc. 3
39. Spartan Mining Company
40. Hobet Mining, LLC
41. Employee Resource Group, LLC
42. Cabela's, Inc.
43. Toyota Motor Manufacturing, West Virginia, Inc.
44. Elk Run Coal Company, Inc. (Black Castle Mining Company)
45. Alcan Rolled Products
46. Weirton Medical Center
47. Eastern Associated Coal Corporation
48. Heartland Employment Services, LLC
49. United Parcel Service Inc. (WV District)
50. Wheeling Island Gaming, Inc.
51. J C Penney Company, Inc.
52. Asplundh Tree Expert Company
53. Simonton Building Products, Inc.
54. Little General Store, Inc.
55. Highmark West Virginia, Inc. (Mountain State Blue Cross and Blue Shield)
56. Ohio Valley Medical Center, Inc.
57. Wesbanco Bank, Inc.
58. Gino's/Tudors Biscuit World
59. Homer Laughlin China Company
60. Huntington Alloys Corporation
61. ArcelorMittal Weirton, Inc.
62. Acordia/Wells Fargo Third Party Administrator, Inc.
63. Food Lion, LLC
64. Gabriel Brothers, Inc.
65. United National Bank
66. Bluefield Regional Medical Center, Inc.
67. Sears, Roebuck and Company
68. Prestera Center for Mental Health Services
69. McDonalds Restaurants of West Virginia, Inc.
70. Advance Stores Company, Inc.
71. Snowshoe Mountain, Inc.
72. Appalachian Regional Healthcare
73. Alex Energy, Inc. (Intrepid Mining Company)
74. GC Services Limited Partnership
75. TRG Customer Solutions
76. City National Bank of Charleston
77. Sunhealth Specialty Services, Inc.
78. St. Joseph's Healthcare System (St. Joseph's Hospital)
79. DirectTV Customer Service, Inc.
80. Charleston Hospital, Inc. (Saint Francis Hospital)
81. Pleasant Valley Hospital, Inc.
82. Universal Cable Holdings/Suddenlink
83. Quad/Graphics, Inc.
84. Alcon Research, Ltd
85. Mountain State University, Inc.
86. Logan General Hospital, LLC
87. Owner's Solution, Inc. (Personnel Management Company)
88. Echosphere, LLC
89. Davis Memorial Hospital
90. Capital Area Services Company, Inc. (CASCI)
91. Target Corporation
92. Armstrong Hardwood Flooring Company
93. Babcock & Wilcox Construction Company, Inc.
94. University Physicians & Surgeons
95. Wendy's International, Inc.
96. OS Restaurant Services, Inc. (Outback Steakhouse)
97. Speedway Superamerica, LLC
98. American Woodmark Corporation
99. Racing Corporation of West Virginia
100. Global Contact Services, LLC 100 91 89

West Virginia coal supporters taking message to Washington Sept. 15

2010-08-27T10:13:00.000-04:00

CHARLESTON – The West Virginia Coal Association, Citizens for Coal, the Federation for American Coal, Energy and Security (FACES of Coal), as well as several allied citizen and coal advocacy groups, will participate in a press conference and gathering held on Sept. 15 on the grounds of the United States Capitol.

   The gathering will celebrate the American Coal Miner and the contribution coal and coal mining makes to our nation’s energy security and economic stability. Current regulatory challenges, coupled with ill-informed public opinion and damaging legislation are threatening the viability of coal mining throughout the United States and particularly in West Virginia.

   “We plan to highlight the critically important role of the American coal miner and to call on lawmakers and administration officials to discontinue efforts to regulate the coal industry – and the hundreds of thousands of jobs it provides – out of business,” said Chris Hamilton, senior vice president of the West Virginia Coal Association and co-chair of the Mountaintop Mine Coalition. “West Virginia’s congressional delegation understands the importance of coal to our local economies and national energy plan, but many federal legislators and bureaucrats do not.”

   A recent study by the Senate Environment and Public Works Committee’s Minority Staff highlighted the economic effect of the Environmental Protection Agency’s ongoing moratorium on coal mining permits in Central Appalachia. According to the study, nearly 18,000 new and existing jobs and more than 80 small businesses are being jeopardized by the unlawful policy the EPA and the Corps have applied to the 190 permits still awaiting action in mid-May.

   “In Appalachia, we mine one-third of the nation’s coal and are responsible for nearly two-thirds of American coal-related jobs,” Hamilton said.

Bryan Brown, West Virginia coordinator for the FACES of Coal campaign, said, “We need Congress to understand the vital role coal plays in America and its economic impact in West Virginia. Selective regulation that only impacts coal mining in Appalachia, like unattainable water quality standards and biased legislation like the Cardin-Alexander Bill, will cripple our regional economy and increase the use of foreign energy sources. We need the public to join us in Washington, DC to send this message loud and clear.”

The gathering celebrating the American coal miner is being held on September 15, 2010 at Russell Park on Capitol Hill. The event begins at 9:30 am with supporters attending from West Virginia, Kentucky, Virginia, Pennsylvania, Tennessee and Ohio. Anyone interested in attending the rally or joining the bus caravan is asked to call the West Virginia Coal Association at (304) 342-4153.

Energy Symposium set for Nov. 9 in Huntington

2010-08-27T10:04:00.000-04:00

   HUNTINGTON — The Huntington Regional Chamber of Commerce’s 6th Annual Energy & Natural Resource Symposium, presented by Natural Resource Partners L.P., will be presented on Tuesday, Nov. 9, at the new MU Foundation Hall, Home of the Erickson Alumni Center. The event will be held from 3 p.m. to 5 p.m. with a reception following from 5 to 6 p.m.

   The keynote speaker will be Hal Quinn, president of the National Mining Association. In this role, he is involved with the key energy and environmental issues affecting coal and its use in electricity generation. His career has also included roles with the Interior Department and the Labor Department. He is a graduate of Denison University and the law school at Wake Forest University.

   This annual event addresses energy and natural resource issues which impact the business community. Corporate tables of six are available for $200; Individual tickets are $50. Additional speakers will be announced soon. To make your reservation, contact the Huntington Chamber at (304) 525-5131.

Eight West Virginia Companies among Inc.'s 5,000 fastest growing

2010-08-25T15:09:00.000-04:00

NEW YORK — Inc. magazine this week announced its fourth annual Inc. 5000, an exclusive ranking of the nation's fastest-growing private companies. The list represents the most comprehensive look at the most important segment of the economy—America’s independent-minded entrepreneurs. Music website Pandora, convenience store chain 7-Eleven, Brooklyn Brewery, and Radio Flyer, maker of the iconic children’s red wagon, are among the prominent brands featured on this year’s list.

In addition, eight West Virginia based companies were named to the Inc. 5000 list.

They are:

• No. 392 Cenergy with a 3-year growth rate of 750 percent and revenue of $12 million;

• No. 638 HMS Technologies with a 3-year growth rate of 477 percent and revenue of $31.2 million;

• No. 764 The McEvoy Administration with a 3-year growth rate of 400 percent and revenue of $2.1 million;

• No. 1508 McKinley Carter Wealth Services with a 3-year growth rate of 190 percent and revenue of $2.8 million;

• No. 2426 Reliable Environmental Transport with a 3-year growth rate of 101 percent and revenue of $7.1 million;

• No. 2642 Performance Results with a 3-year growth rate of 88 percent and revenue of 13.8 million;

• No. 2715 KeyLogic Systems with a 3-year growth rate of 84 percent and revenue of 16.1 million;

• No. 3236 Advanced Technical Solutions with a 3-year growth rate of 60 percent and revenue of $8 million.

Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/5000 .

The Hottest Regions for Fast-Growing Companies
Once again, California tops the Inc. 5000 with the most companies of any state with 684. The Golden State is followed by Texas (404), New York (353), Virginia (293), and Florida (262). All 50 states, plus Washington, D.C., and Puerto Rico, are represented on this year's list.

New York boasts 410 Inc. 5000 companies, making it the top metro area, followed by Washington, D.C. (363), Los Angeles (262), Chicago (203), and Boston (189).

The Inc. 5000 at a Glance
The Real Estate sector, although small, was the top-performing industry, with a total growth rate of 189 percent. Software was second with a growth rate of 126 percent, and Telecommunications was third with 119 percent.

In total, the companies on the Inc. 5000 have created 1.4 million jobs. The Health sector is the top employer with 287,726 jobs, followed by Business Products & Services (230,066), Food & Beverage (108,344), Human Resources (107,924), and Retail (96,858).

Business Products & Services had the most companies on this year’s list with 640, followed by IT Services (607), Advertising & Marketing (410), Health (396), and Government Services (336).

This year’s fastest-growing company is Ambit Energy, a Dallas-based firm that buys electricity and natural gas at wholesale prices and resells the energy to customers acquired through a direct sales channel. The company saw $325 million in revenue in 2009 and a three-year growth rate of 20,369 percent.

The top woman-run company is Lexicon Consulting (No. 4 overall), based in El Cajon, California. Lexicon creates mock Iraqi and Afghan villages used to train military personnel. The firm, founded by Jamie Arundell-Latshaw in 2005, recorded revenue of $17.9 million in 2009 and a three-year growth rate of 14,018 percent. The top minority-run company is WDFA Marketing (No. 5 overall), a San Francisco–based firm that specializes in guerrilla, grass-roots, and micromarketing. WDFA, founded by Raj Prasad, posted revenue of $38.4 million in 2008 and a three-year growth rate of 13,350 percent.

The Inc. 5000 posted an aggregate revenue of $321.6 billion in 2009, up more than 50 percent from the previous year. The top five industries by total revenue are Business Products & Services ($84.7 billion), Health ($48.3 billion), Consumer Products & Services ($26.4 billion), Retail ($22.3 billion), and Government Services ($15.1 billion).

Methodology
The 2010 Inc. 500|5000 is ranked according to percentage revenue growth when comparing 2006 to 2009. To qualify, companies must have been founded and generating revenue by June 30, 2006. Additionally, they had to be based in the United States, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2009. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2006 is $80,000; the minimum for 2009 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. The top 10 percent of companies on the list constitute the Inc. 500, now in its 29th year.

West Virginia Made Trade Show to be held in Morgantown Sept. 10-11

2010-08-24T14:10:00.000-04:00

   MORGANTOWN – The first West Virginia Made tradeshow will be held at the Lakeview Resort in Morgantown, Sept. 10–11. The trade show will bring together West Virginia artisans and gourmet food producers with retailers and wholesalers from around the state. Approximately 50 vendors will be in attendance to display and sell their West Virginia made products.

   Friday, Sept. 10 is reserved solely for wholesale buyers and is open from 1 p.m. until 6 p.m. Saturday is open to wholesaler buyers and the general public from 11 a.m. until 6 p.m. and will be a great opportunity for retailers and the general public to pick up some of the finest West Virginia made products just in time for the Holiday shopping season.

   West Virginia Made is a trade association that was created in response to a growing demand from West Virginia artists and gourmet food producers in need of a central place to collaborate, network, and to promote their goods. West Virginia State University Extension Service and Preservation Alliance of West Virginia answered the call with support of an organization that will nurture collaboration and meet the business needs of full-time artists and producers.

   In addition to the trade show, West Virginia Made provides an association website that helps members connect. The association also offers member services to enhance business skills including workshops and webinars. Possible webinar topics include marketing, pricing, merchandising, product development and other networking opportunities.

For further details about WV Made and the WV Made Tradeshow schedule, please visit www.wvmade.org .

SBA to host webinar on Doing Business with the West Virginia Department of Environmental Protection

2010-08-24T10:47:00.000-04:00

CLARKSBURG – The U.S. Small Business Administration is hosting a FREE webinar on “Doing Business with the West Virginia Department of Environmental Protection (DEP)” on Thursday, Sept. 30, from 10 a.m. to 11 a.m.

   The DEP needs qualified contractors, especially minority and women-owned small businesses, to fulfill their various contracting opportunities throughout the state.

   Jamie Lenore Chambers, accountant/auditor for the WV DEP’s grant management section, will be presenting an overview of state purchasing procedures and providing tips on how to navigate through the states contracting process.

   The webinar is one in a series of free small business clinics and webinars for small businesses.

   Upcoming sessions include:

   · Small Business Loans: No Hype, Just the Facts Clinic, Charleston, September 16, 2010

   · LLC v. S-Corporation: Which is Right for You? Webinar, September 21, 2010

   · Marketing to Federal Agencies Webinar, September 23, 2010

   · Taxes v. Liability: Business Legal Organizations Explained Clinic, Charleston, October 14, 2010

   · Small Business Taxes from A to Z webinar, October 19, 2010

· Marketing to Prime Contractors webinar, October 21, 2010

Registration for all the above clinics and webinars can be made online at www.wvscore.org .

Statewide technology conference to feature presidents of Marshall, WVU

2010-08-24T10:41:00.000-04:00

HUNTINGTON – TechConnect West Virginia (www.techconnectwv.org ), in partnership with Verizon West Virginia, Marshall University and West Virginia University, will bring together policy and opinion leaders, researchers and entrepreneurs, economic developers and others to discuss and develop strategies for growing our state's technology economy. Featured speakers include Dr. James P. Clements, President of West Virginia University, and Dr. Stephen J. Kopp, President of Marshall University.

The event will be held from 1 p.m. – 5 p.m. on Tuesday, Sept. 7, at Foundation Hall on the campus of Marshall University in Huntington, West Virginia.

“West Virginia has the potential to significantly grow its technology economy, and in doing so, create jobs and economic diversity for state residents,” said Kevin DiGregorio, Executive Director of TechConnect West Virginia. “The purpose of this event is to inform state leaders on what is taking place across the state in this sector and to identify what needs to be done to spur growth.”

DiGregorio said the event will feature presentations by the presidents of both Marshall University and West Virginia University on the role of universities as the foundation for technology growth in their state. Paul Hill, Vice Chancellor for Science & Research with the WV Higher Education Policy Commission, will speak to the need for facilities in the tech field and specifically discuss the WV Education, Research & Technology Park in South Charleston. Additionally, panel segments, featuring experts and technology business owners from around the state, will focus on access to capital, entrepreneurial assistance and entrepreneurial talent. The panels will be moderated by Kelley Goes, Secretary of the WV Division of Commerce, and John Golden, Director of External Affairs for Verizon WV.

TechConnect West Virginia is a 501(c)3 non-profit coalition of public and private partners dedicated to growing and diversifying West Virginia’s economy by boosting the state’s technology economy. The organization serves as a forum and facilitator to spur collaboration within West Virginia’s technology community, bringing the assets of statewide entities to the table to spur technology commercialization and stimulate the creation of tech-based companies and jobs. The organization is a partner of Vision Shared.

For additional information, visit the organization’s website at www.techconnectwv.org .

Half of state counties report drop in unemployment in July

2010-08-24T10:39:00.000-04:00

CHARLESTON — West Virginia's unemployment rate remained at 8.6 percent in July 2010. Approximately one-half of all counties reported a declining unemployment rate.

The number of counties recording an unemployment rate considered much worse than average when compared to the state rate rose slightly. This group included Brooke (13.3), Hancock (13.7), Clay (13.8), and Mason (14.5).

The number of counties recording an unemployment rate considered better than average when compared to the state rate nearly quadrupled. This group included Harrison (7.2), Lewis (7.2), Putnam (7.2), Boone (7.1), Doddridge (7.1), Marion (7.1), Preston (7.0), Gilmer (6.8), Pendleton (6.8), Monroe (6.5), and Jefferson (6.3).

Once again, Monongalia (5.1) was the sole county reporting an unemployment rate considered much better than average when compared to the state rate.

Small Business Development Center to host small business startup workshop

2010-08-24T10:37:00.000-04:00

CHARLESTON – The West Virginia Small Business Development Center (WVSBDC) will offer a small business startup workshop from 1 to 4 p.m. on Sept. 14.

The training will be at the Kanawha Valley Community and Technical College Workforce Division in the Schoenbaum Center at 1701 5th Ave. in Charleston.

WVSBDC business coach Anne Lane will advise participants on the aspects of starting a business, including startup issues, legal structure, licensing, business planning, budgeting and financing. There is no fee. Registration is required and is limited to 10 people. To register or for more information, call Dreama Wolfingbarger at 304-558-2960.

The West Virginia Small Business Development Centers are part of the West Virginia Development Office and work with colleges, universities and other host institutions to provide cost effective business coaching and technical assistance statewide.

The WVSBDC is funded in part through a cooperative agreement with the U.S. Small Business Administration. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA. Reasonable accommodations for persons with disabilities will be made if requested at least two weeks in advance. Call Dreama Wolfingbarger at 304-558-2960.

State exports up nearly 40 percent in first half of 2010

2010-08-17T09:19:00.000-04:00

   CHARLESTON – During the first half of 2010, West Virginia’s exports climbed 39.5 percent compared to the same time period in 2009, according to figures released this week by the U.S. Department of Commerce.

   That outpaces the U.S. export growth rate of 23.8 percent for the same period.

   Figures from the U.S. Department of Commerce show West Virginia’s product exports reached $3 billion in the first half of 2010, up from $ $2.2 billion in 2009.

   “This positive sign for the economy is also a testament to the quality and world-class appeal of West Virginia goods and services,” said Gov. Joe Manchin. “The success we see today is a result of the long and successful collaboration among our state and federal agencies, businesses and work force.”

   “Expanding West Virginia businesses and selling our products and services in the global marketplace means a stronger economy and more private sector jobs right here at home,” said Senator Jay Rockefeller, Chairman of the Senate Committee on Commerce, Science and Transportation. “Since my days as governor, I've continually fought hard to promote West Virginia businesses internationally. In the Commerce Committee, we recently passed The Export Promotion Act of 2010 to give the Department of Commerce greater tools to help companies, especially small and rural businesses, expand their exports. I thank all of the hard working West Virginia businesses and the West Virginia Development Office for all they do to create more jobs and better opportunities to showcase West Virginia products to the world.”

   The top 10 markets for West Virginia exports during January-June 2010 are Canada, Japan, India, Brazil, China, Netherlands, Belgium, United Kingdom, Italy and France.

   The product sector that achieved the biggest growth spurt was plastics/polymers, jumping more than 70 percent from the first half of 2009 to the same period in 2010. Increases were also reported in automotive components and machinery (63 percent each); soap/wax/related chemicals (57 percent) and wood products (49 percent).

   The International Division of the West Virginia Development Office facilitates international trade development by organizing trade missions, providing consulting and offering other services to encourage West Virginia businesses to pursue export markets.

WVU College of Business and Economics welcomes new dean

2010-08-17T09:15:00.000-04:00

MORGANTOWN — Dr. Jose V. “Zito” Sartarelli, a successful pharmaceutical executive at three Fortune 500 companies, has officially assumed his new position as the Milan Puskar Dean of the College of Business and Economics at West Virginia University.

A native of Brazil, Dr. Sartarelli comes to WVU from Johnson & Johnson, where he has served as pharmaceutical group chairman for Asia-Pacific, Japan and Latin America, overseeing a business of more than $3 billion in annual sales spread over more than 50 countries, supported by more than 9,000 employees.

   Previously he served at Bristol-Myers Squibb Co. as president of two international groups and senior vice president of franchise management, business analysis and planning.

   Dr. Sartarelli also held senior positions of increasing responsibilities in marketing and management at Eli Lilly and Co. in the U.S., Latin America, and Asia-Pacific. During his tenure with Lilly, he ran Asia-Pacific operations, directed international market planning activities and ran operations in Brazil and Chile.

   “We are entering a time of great change, great excitement and great energy at the WVU College of Business and Economics,” said Dr. Sartarelli. “It is our goal to lift the College and its students to new levels of academic standards, growth and success.”

He added, “As with the positions I held prior to becoming dean of the College of Business and Economics, this job requires discipline. It will take a steadfast approach to lift all of us to a higher standard. Taking the College to the next level is a goal that has been set not only by the University administration and the entire College community, but it is also a personal goal.”

Dr. Sartarelli was a member of the Council for the Americas through March of this year. Additionally, he has held numerous leadership positions in the pharmaceutical industry in several countries. He has served as chairman of the Pharmaceutical Research and Manufacturers of America International Steering Committee and other significant committee chairmanships such as those for Japan, Canada, Latin America and Asia-Pacific.

Dr. Sartarelli received his bachelor of business administration in marketing from the São Paulo School of Business Administration (Fundação Getulio Vargas), São Paulo, Brazil. He earned his MBA in marketing under a Fulbright Scholarship, and his doctorate in business administration from Michigan State University.

The WVU College of Business and Economics has 75 full time faculty, 1,066 undergraduate students and 323 graduate students. WVU has eight colleges on its main campus in Morgantown with an enrollment of 28,898.

State's Unemployment Rate remains at 8.6 percent in July

2010-08-16T18:14:00.001-04:00

CHARLESTON -- West Virginia’s unemployment rate remained at 8.6 percent in July, WorkForce West Virginia reported today. The number of unemployed state residents rose 500 to 68,000. Total unemployment was up 1,700 over the year.

Total nonfarm payroll employment declined 4,500, where a loss of 4,800 in the service-providing sector easily overpowered a slight gain of 300 in the goods-producing sector. Within the goods-producing sector, gains of 200 in both manufacturing and mining and logging offset a decline of 100 in construction. Employment declines within the service-providing sector were fueled by the seasonal loss of 2,900 in government, almost entirely at the local level.

   Other losses included 600 in leisure and hospitality, 500 in trade, transportation, and utilities, 500 in professional and business services, 300 in other services, and 100 in educational and health services. Financial activities added 100 jobs, while information employment was unchanged over the month.

   Since July 2009, total nonfarm payroll employment has added 1,300 jobs, with a gain of 2,200 in the goods-producing sector overpowering a loss of 900 in the service-providing sector. Employment gains included 2,200 in educational and health services, 900 in manufacturing, 800 in construction, 600 in government, 500 in other services, and 500 in mining and logging. Employment declines included 2,400 in trade, transportation, and utilities, 600 in leisure and hospitality, 600 in financial activities, and 600 in professional and business services. Information employment was unchanged over the year.

   West Virginia’s seasonally adjusted unemployment rate inched upward one-tenth of a percentage point to 8.6 percent, while the national rate remained at 9.5 percent.

State Department of Revenue Secretary to leave for job in the private sector

2010-08-16T18:12:00.000-04:00

CHARLESTON -- Gov. Joe Manchin today announced that Department of Revenue Secretary Virgil T. Helton will step down from his duties on Aug. 31. Helton has accepted a position with FAST Enterprises, a Colorado-based company.

   Helton served the Manchin administration from January 2005 to October 2007 as state tax commissioner for the West Virginia State Tax Division. Since October 2007, he served as cabinet secretary of the West Virginia Department of Revenue. Prior to 2005, Helton served as deputy director and chief financial officer of the West Virginia Lottery.

   John C. Musgrave, Lottery director, will replace Helton and serve as acting secretary of the Department of Revenue. As part of his new role, Musgrave will take over duties including serving as the state budget director, the Governor’s designee for the Investment Management Board, the Board of Treasury Investments, and chair of the Retail Liquor Licensing Board. Musgrave will continue to oversee the State Lottery along with the nine other Department of Revenue agencies.

   “I am very honored to have served West Virginia under the leadership of Governor Manchin,” Helton said. “Without Governor Manchin’s dedication to fiscal responsibility and direction, West Virginia would not be in the current, solid financial footing that the state currently enjoys. While I am proud of the work the Department of Revenue has been able to accomplish in these most challenging times, it is time for a new chapter of my life to begin.”

   The Department of Revenue is comprised of ten agencies: Alcohol Beverage Control Administration, State Athletic Commission, Division of Banking, State Budget Office, Lottery Commission, Municipal Bond Commission, Offices of the Insurance Commissioner, Office of Tax Appeals, Racing Commission and State Tax Division.

Lineup announced for Veterans Business Summit

2010-08-13T11:11:00.000-04:00

   CLARKSBURG ─ Veterans looking for assistance starting a new business or growing an existing business have an extensive range of business topics to choose from during the Veterans Business Summit set for Tuesday, Sept. 14, at the I-79 Technology Park Research Center in Fairmont.

   The Summit’s agenda is packed with business related presentations ranging from financing for veterans to free business assistance programs. To participate in this FREE event you must be a veteran or, on active-duty military status or, a spouse of either. Providers of veteran services and the general public are also encouraged to attend.

   The event will open with William Elmore, associate administrator from the U.S. Small Business Administration’s Office of Veterans Business Development whose topic will be, “How Veterans Can Grow Their Business: Opportunities and Best Practices.” Following Elmore, three 45-minute tracts will be offered: “Veterans Doing Business with the Federal Government,” by Scott Denniston, a government contracting expert; “Patriot Express Business Loans for Vets,” by Terry Spears, an SBA banking officer with Community Trust Bank and Jim Epling from the WV Small Business Development Center (SBDC); and “Business Legal Structures Explained” by Chuck Smith, CPA from the renowned accounting firm Smith Cochran & Hicks, PLLC.

   West Virginia’s own Medal of Honor recipient Hershel “Woody” Williams will be the special guest at lunch.

   The Summit’s afternoon sessions will include the topics: “Legal Lessons for Federal Contractors,” by Roy Jones, Jr., from HMS TECHNOLOGIES, INC. “Small Business Lending: Facts v. Fiction,” with Stephanie Ellingson from Huntington National Bank; “Patriot Express Business Loans for Vets,” with Matt Coffey from BB&T and Tara Elder, Director of the WV Women’s Business & Training Center (WBC); “Business Concerns in Federal Contracting,” with Jonathan Elder, CPA with the accounting firm Toothman Rice, PLLC; “Strategic Business Planning,” with Harry Siegel, owner of HMS TECHNOLOGIES, INC. a successful Service-Disabled Veteran-Owned Small Business; and “Free Small Business Resources,” with representatives from SBA’s resource partner network--the Regional Contracting Assistance Center, SCORE, WBC, and the SBDC. The Summit will conclude with a session entitled, “Where Do I Go From Here?” by Harry Siegel.

   “There is no event a veteran can attend anywhere in West Virginia that will provide as much detailed information on starting or growing a business as the Veterans Business Summit on September 14,” said Judy McCauley, Director of SBA’s West Virginia District Office. “Each presenter is an expert in their field and has volunteered their time to help West Virginia’s veterans succeed in their entrepreneurial endeavors.”

   There is no charge to attend the Summit but pre-registration is required. To register, visit www.wvscore.org or call 1-800-767-8052 ext. 8.

   Sponsors of the Summit include the West Virginia Small Business Development Center, the West Virginia Women’s Business and Training Center, and SCORE.

Extreme Entrepreneurship Tour coming to Marshall in September

2010-08-06T14:52:00.000-04:00

HUNTINGTON – The power of the entrepreneurial spirit will take the Tri-State Area by storm this fall when The Extreme Entrepreneurship Tour visits Marshall University’s Huntington campus.

The tour, a high-energy, half-day event, will take place from 3 to 7 p.m. Thursday, Sept. 23, at the Marshall University Foundation Hall, Home of the Erickson Alumni Center. Those in attendance will hear the stories of and learn the secrets behind the success of the world’s top entrepreneurs who are still in their 20s.

The event is sponsored by Marshall University’s Office of the President, MU Online College in the High School, the Center for Business and Economic Research and the Marshall University Research Corp.

The Extreme Entrepreneurship Tour is the first and only nationwide entrepreneurship tour. It is run by three award-winning young entrepreneurs – Sheena Lindahl (27), Michael Simmons (28) and Arel Moodie (26). Created in 2006 by Lindahl and Simmons, the tour features many of California’s top young entrepreneurs who have made, or sold companies for, millions of dollars and/or made a huge impact before the age of 30.

One speaker, Cameron Johnson (24) from Los Angeles, started a dozen profitable businesses and became a self-made millionaire while he was still a teenager. Another speaker, Rahim Fazal (27) from San Francisco, sold his first business for $1.5 million as he was graduating from high school. Fazal is the co-founder and CEO of the venture-backed company, Involver.

“More than half the companies on the 2009 Fortune 500 list were launched during a recession or bear market,” Simmons said. “Technology and globalization have made it very inexpensive to start a business. Now is the best time that there has ever been to become your own boss.”

According to a 2007 Ewing Marion Kauffman Foundation survey by Harris Interactive, four out of 10 young people would like to start their own businesses someday.

“However, when we talked with students, we realized that many of them needed inspiration and support to achieve this dream,” Lindahl said. “That’s why we started the tour.”

The goal of the Extreme Entrepreneurship Tour is to have college students around the nation graduate with an entrepreneurial mindset.

The tour uses numerous themes and resources to reach and inspire those in attendance. Some are:

   · Focus – students are inspired and learn how to start and run their own businesses;

   · Keynote – this speaker is an extremely successful young entrepreneur who shares his or her story and business lessons;

   · Workshop – helps students come up with a viable business idea based on strengths and passions;

   · Speed networking – focuses on students connecting with each other based on their business ideas;

   · Panel – consists of the event speakers and local entrepreneurs with a focus on entrepreneurship. Local participants will include some who have created businesses and been successful in commercializing products, including representatives from Vandalia Research Inc., which is the first biotechnology research company based upon Marshall University research. Other panelists include local K-12 students, including award-winning students from Cabell Midland High School.

Registration to the event is limited to Marshall University students, faculty and staff, and to K-12 students. To register, they may go to www.extremetour.org/marshall.

August Open for Business Report released

2010-08-05T10:36:00.000-04:00

CHARLESTON – Gov. Joe Manchin has released the latest “Open for Business” report documenting the state’s economic progress. The August 2010 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.

International firm hosts Aug. 3 opening in Jefferson County
On Aug. 3, Randox Laboratories-U.S. Ltd. will celebrate the grand opening of its new operation. The new enterprise in Kearneysville marks the company’s first facility on the East Coast. Gov. Joe Manchin will officially open the $7 million renovated, 30,000 square-foot facility. Randox is an international diagnostic reagent and equipment manufacturer based in Northern Ireland.

Telecommunications center to hire 150 in Raleigh County
TRG Customer Solutions recently secured a long-term contract, creating 350 new jobs in Beckley. A telecommunications firm with a global presence, TRG employs 1,000 workers in West Virginia. TRG conducted interviews for the initial phase of hiring 200 associates in July and plans a second phase to hire 150 more by the first half of August. The Beckley office is hiring for two campaigns. The first is technical help desk service representatives with an intermediate knowledge of computers. The second is an e-mail/chat assistance program, which requires basic computer knowledge. TRG recommends that jobseekers complete application forms by going online to www.trgcs.com/joinus.html or calling 304-205-0297 for more information.

West Virginia earns high marks from Moody’s, Fitch Ratings
For the second year in a row, a national rating agency has upgraded West Virginia’s credit rating on its general obligation debt. Moody’s Investors Service elevated the state’s credit rating from “Aa2” up to “Aa1.” Fitch Ratings gave an “AA” rating to the state’s general obligation debt; “A+” to West Virginia Higher Education Policy Commission’s outstanding Community and Technical Colleges' capital improvement revenue bonds; and “A+” to West Virginia Economic Development Authority’s lottery revenue bonds. Both rating agencies cited the state’s continued fiscal discipline, strong financial performance and continued progress in addressing long-term liabilities, particularly during the current economic downturn. The higher bond ratings will allow West Virginia, including local school boards, to obtain money to finance major projects at a lower interest rate.

WVU achieves record year for sponsored research
West Virginia University (WVU) attracted $175.3 million in sponsored research funding during fiscal year 2010. An 18 percent increase over the previous year, the total also represents a record high for the university. WVU research extends into diverse fields, from the origin of pulsars to oral health disparities in Appalachia. Research support stemmed in part from federal agencies including the National Institutes of Health, Department of Health and Human Services, Department of Energy and Department of Justice. WVU faculty won more than $30 million in competitive funding for research opportunities through the American Recovery and Reinvestment Act of 2009.

Energy International Quarterly features Harrison County firm
Reliable Environmental Transport Inc. (RET) has been featured in the industry publication Energy International Quarterly. RET provides a full range of waste transportation and emergency response services in a tri-state area. The article in the July/August 2010 issue focuses on RET’s role in supporting companies drilling for natural gas in the Marcellus Shale formation. Since 2004, the Bridgeport-based RET has grown into a multimillion dollar business with 52 employees.

Five West Virginia regional teams selected for new SET development program
USDA Rural Development, with numerous other state and local partners, announced the launch of a new economic development pilot program called “Stronger Economies Together” (SET). The new program provides regional teams with the tools, training and technical assistance to develop new approaches to regional economic development. Five West Virginia teams were selected for SET through a competitive application process:
4-C Economic Development Authority: Fayette, Nicholas, Raleigh and Summers counties. Goals: Unified community development; enhancement of entrepreneurial support; and strengthening private sector partnerships.
Hardwood Alliance Zone (HAZ): Preston, Barbour, Tucker, Lewis, Upshur, Randolph, and Webster counties. Goals: Develop marketing plan for HAZ; Create contact management system for business prospects; organizational maintenance; and industry training and outreach.
National Coal Heritage Area Authority: Boone, Cabell, Fayette, Lincoln, Logan, McDowell, Mercer, Mingo, Raleigh, Summers, Wayne, Wyoming, and Paint Creek/Cabin Creek and Kanawha counties. Goals: Creation of National Coal Heritage Area Discovery Center; expand and cross-promote the Coal Heritage Trail; and assist with the completion of Country Roads Scenic ByWay Interpretive Center.
Doddridge & Ritchie County SET Team: Doddridge and Ritchie counties. Goals: Increase per capita income by increasing farm income and profitability; attract and develop agricultural-related businesses; and develop a sustainable revenue stream with value-added businesses.
Eastern Panhandle Regional Planning and Development Council: Berkeley, Hampshire, Jefferson and Morgan counties. Goals: Promote business growth for higher paying job potential; identify target markets for job growth and development; and comprehensive marketing plan for the area.

July 4th traffic to West Virginia Welcome Centers soars to nearly 15 percent
Visits to West Virginia Welcome Centers during the July 4th weekend ramped up 14.7 percent compared to the same time last year. In 2009, the Welcome Centers recorded 49,608 visitors during the Friday-through-Monday holiday weekend. In 2010, the centers totaled 56,899.

WVEDA approves $2.6 million for two business loans
The West Virginia Economic Development Authority (WVEDA) approved two business loans totaling $2,600,000 during its July meeting:
Smith Services Inc.; $1.8 million, for the acquisition of fixed business assets in Princeton, Mercer County. Founded in 1981 in Bluefield, Smith Services repairs and rebuilds electric motors for industrial machines and power generators. Currently the firm engages 116 employees, projected to increase up to 156 after three years.
Multifresh Inc., doing business as Crook Brothers; $800,000 to finance a new warehouse facility and equipment. The new facility will be located in Beckley, Raleigh County, on Grey Flats Road. Crook Brothers started operations in 1989 in the Beckley Farmer’s Market. This expansion project is expected to increase the number of employees from 30 today to 48 after three years.

WVEDA authorizes bonds for certified capital improvement projects
During its July meeting, the West Virginia Economic Development Authority (WVEDA) authorized the issuance of Lottery Revenue Bonds in an amount not to exceed $180,000,000 to be used for all or a portion of the costs of constructing, equipping, improving or maintaining capital improvement projects for state institutions of higher education, state parks, the state Capitol Complex and other state facilities or tourism sites, and to pledge the revenues paid into the Education, Arts, Sciences and Tourism Fund, a special fund created pursuant to the Lottery Act and existing in the State Treasury (the “EAST Fund”).

Robert C. Byrd Institute to celebrate 20th anniversary Aug. 10

2010-08-05T10:01:00.000-04:00

HUNTINGTON – The Robert C. Byrd Institute for Advanced Flexible Manufacturing will celebrate its 20th anniversary as West Virginia’s advanced manufacturing technology center with an open house from 11 a.m. to 7 p.m. Tuesday, Aug. 10 at its Bridgeport, W.Va., location.

The RCBI Machinist Technology Program’s Class of 2010 graduation ceremony will be staged in conjunction with the open house, beginning at 6 p.m. Twenty-one people will receive their National Certifications from the National Institute of Metalworking Skills.

For the first time since the inception of the program, a combined graduation ceremony for students who completed their training in Huntington, Wheeling, and Rocket Center (near Keyser in the eastern panhandle) will be conducted jointly with the students at Bridgeport.

Kelley Goes, West Virginia’s Secretary of the Department of Commerce, will be the keynote speaker. Steve Mandes, President of the National Institute of Metalworking Skills, will attend, along with Industry Board of Advisors made up of manufacturers from throughout West Virginia, who advise RCBI’s MTP Program.

The open house will feature manufacturing seminars, networking opportunities, machining demonstrations as well as seminars and technology displays by more than 45 representatives from machine tool vendors and equipment suppliers across the region.

“RCBI is pleased to mark this very important milestone by continuing to bring close to 50 high tech machine tool vendors and equipment suppliers to West Virginia to demonstrate the power of technology and its effects on our economy,” said Charlotte Weber, director and CEO of RCBI.

“To date, because of introduction to and training offered at RCBI, nearly 200 pieces of high-end machines representing an investment of $26 million have been made in West Virginia. And, more than 280 individuals have graduated from RCBI’s Machinist Technology Program. RCBI is West Virginia’s and the region’s source of the latest technologies and technical training.”

The next round of RCBI’s nationally-certified training classes at Huntington, Bridgeport, Rocket Center and Wheeling will begin Aug. 23. There are still openings at each location for those who are interested in a manufacturing career that pays well and offers benefits.

For further information or to enroll, contact Larry Cartmill, technical program recruiter, at 304-654-0424, or Kathryn Stanley, workforce development recruiter, at 304-641-8588. Or, call 800-469-RCBI (7224) or e-mail machinistprogam@rcbi.org.

Veterans Business Summit Coming to West Virginia Sept. 14

2010-07-30T09:03:00.000-04:00

   CLARKSBURG ─ The U.S. Small Business Administration in conjunction with its network of small business resource partners throughout West Virginia, will be hosting a Veterans Business Summit on Tuesday, Sept.14, at the I-79 Technology Park Research Center in Fairmont.

   This free event will provide veterans and their spouses with training and resources on veteran-owned business financing; doing business with the federal government; strategic business planning; business legal structures; legal lessons for federal contractors; and free small business resources.

   The summit will feature speakers from SBA’s Office of Veterans Affairs, Medal of Honor Recipient Hershel “Woody” Williams, numerous veteran small business owners, local lenders, and small business resource partners.

   “According to the U.S. Census Bureau, approximately 173,000 veterans reside in West Virginia making it a state with one of the highest number of veterans per capita in the nation,” said Judy McCauley, Director of SBA’s West Virginia District Office. “And veterans make great business owners. Because of their military background, they understand the importance of teamwork, have tremendous self-discipline, and often develop technical skills during their military service that serves them well as entrepreneurs.”

   Federal contracting officers are actively searching for veteran-owned and service disabled veteran-owned small businesses to fulfill various contracting opportunities. According to SBA’s Office of Advocacy, there are approximately 15,000 veteran-owned small businesses in West Virginia. However, only 229 are registered to do business with the federal government.

   “That number needs to be much higher,” stated McCauley. “The Veterans Business Summit is an excellent starting point for veteran-owned businesses to learn about doing business with the government. The agenda features several successful veteran small business owners who will be sharing their government contracting experience free of charge.”

   The event is free for all veterans and their spouses, but pre-registration is strongly encouraged. For registration information, visit www.wvscore.org or call 1-800-767-8052 ext. 8.

   Sponsors of the Summit include the West Virginia Small Business Development Center, the West Virginia Women’s Business and Training Center, and SCORE.

Five regional groups selected for new economic development program

2010-07-15T11:07:00.000-04:00

MORGANTOWN — The USDA Rural Development, in conjunction with The Northeast Regional Center for Rural Development, West Virginia State University Cooperative Extension, and other state and local partners, have selected five West Virginia multi-county areas for a new economic development program called “Stronger Economies Together” (SET).

   The five entities selected in West Virginia were as follows:

   • 4-C Economic Development Authority which serves Fayette, Nicholas, Raleigh and Summers Counties. Goals: Unified Community Development; Enhancement of Entrepreneurial Support; and Strengthening Private Sector Partnerships.

   • Hardwood Alliance Zone (HAZ), which serves Preston, Barbour, Tucker, Lewis, Upshur, Randolph, and Webster Counties. Goals: Develop Marketing Plan for HAZ; Create Contact Management System for Business Prospects; Organizational Maintenance; and Industry Training and Outreach.

   • National Coal Heritage Area Authority, which serves Boone, Cabell, Fayette, Lincoln, Logan, McDowell, Mercer, Mingo, Raleigh, Summers, Wayne, Wyoming, and Paint Creek/Cabin Creek, Kanawha Counties. Goals: Creation of National Coal Heritage Area Discovery Center; Expand and cross-promote the Coal Heritage Trail; and Assist with the completion of Country Roads Scenic ByWay Interpretive Center.

   • Doddridge & Ritchie County SET Team, which serves Doddridge and Ritchie Counties. Goals: Increase per capita income by increasing farm income and profitability; Attract and develop agricultural-related businesses; and Develop a sustainable revenue stream with value-added businesses.

   • Eastern Panhandle Regional Planning and Development Council, which serves Berkeley, Hampshire, Jefferson and Morgan Counties. Goals: Promote business growth for higher paying job potential; Identify target markets for job growth and development; and Comprehensive marketing plan for the area.

The SET program eligibility requirements were: 1) Applicants must be Multi-county regions (two or more counties) in West Virginia (or in conjunction with counties in neighboring states) where the average rural population is 51% or more of the region’s total population based on Census data or other sufficient data or documentation OR 2) Applicants must be Multi-county regions (two or more counties) in West Virginia (or in conjunction with counties in neighboring states) where 75% of the region's land area is located in rural areas of that region based on Census data or other sufficient data or documentation.

The successful applicants will receive the following: 1) Valuable intensive strategic planning training for their regional team, including the newly developed “Stronger Economies Together” program, a program designed to help your regional team develop new approaches to strengthen and enhance regional economic development activities; 2) Database tools specifically designed to help the regional teams examine the critical drivers of their region and identify emerging growth sectors and regional competitive advantages; 3) Technical assistance and educational support from the Northeast Regional Rural Development Center, WV Rural Development staff, and West Virginia State University Extension staff; and 4) Other educational and information-sharing opportunities with other SET program participants around the country.

Further information on USDA Rural Development may be obtained by visiting USDA’s website at http://www.rurdev.usda.gov .

SBA assistance helps keep Harrisville manufacturing company operating

2010-07-14T15:58:00.000-04:00

HARRISVILLE – It has been said by small business owners many times and in various ways, but Richard Kerns, Chief Operating Officer for Troy, LLC in Harrisville, W.Va. is quite sincere when he stated, “In all honesty, we wouldn’t be here today without West Union Bank and the U.S. Small Business Administration.”

   Troy is a manufacturer of non-woven needle punch textiles of which 85 percent of their business relies on the automotive industry. The company’s roots can be traced back to 1865 when they manufactured horse blankets, the prevalent mode of transportation at that time, which eventually shifted to automobiles in the 1920’s.

   With their corporate headquarters based in Troy, NH, the company decided to build an 85,000 square foot manufacturing facility in Harrisville in 1974 to enhance their growing automotive production line. Once the facility was completed, business remained steady for Troy until the latter 1990’s. That is when the automotive industry started to experience a downturn which was enhanced by the September 11, 2001 disaster.

   “Troy was in the process of moving their entire automotive division to Harrisville in 2001 when they decided to file bankruptcy and had no plans to restructure, basically just shut the doors and put the employees out in the street,” said Kerns. “Marty Ballen, our CEO, and I both worked for Troy at the time and made a decision to purchase the facility. Troy was one of the largest employers in Harrisville and several families depended on the company for their livelihood. So on March 15, 2002, with some help from Mountaineer Capital and the West Virginia Jobs Investment Trust, Troy, LLC was established.”

   Business was good for Troy until late 2008 when the automotive industry started experiencing a serious decline.

   “The year 2009 was probably the worst year Troy had financially,” said Kerns. “We made various changes and restructuring during the year which helped us get by, but when our financial partner decided to call our line of credit, things looked pretty bleak.”

   That is when the SBA and West Union Bank came to the rescue.

   “Richard contacted me early last fall and asked if there was anything West Union Bank could do to help,” said Ed Smith, Senior Vice President at the bank. “Being a small community bank and with Troy needing a fairly large line of credit, I knew we couldn’t help without significant assistance through some sort of guarantor.”

   Smith then contacted the SBA’s West Virginia District Office and talked to Tom White, a lender relations specialist. White and Deputy Director David Manley met with the Smith and Kerns to discuss the situation and come up with viable options to save the company.

   “We all recognized from the beginning this would be an uphill battle, but one worth fighting,” said Smith. “In light of the economic stimulus programs and the large financial bailouts the government was providing at the time, this was a real need in a real life situation.”

   White worked closely with the bank to put together a line of credit through SBA’s CAPLine program under the agency’s flagship 7(a) loan program.

   “Tom helped Richard and me throughout the entire loan process getting together the documentation needed for an SBA underwriting,” Smith said. “Without his hands-on knowledge of SBA’s loan process and the skill to direct us through the process, we wouldn’t have been able to save the company.”

   White even served as the go between for West Union Bank and SBA’s Loan Guaranty Processing Center to resolve various underwriting issues.

   Through the efforts of SBA and West Union Bank, on January 19, 2010, Troy received an SBA guaranteed revolving line of credit under the Contract CAPLine program which in essence saved the company from certain closure which would have dealt a significant economic blow to the local community.

   To learn more about the SBA’s loan programs and services, visit their website at www.sba.gov .

Upcoming workshop to focus on commercializing scientific discoveries

2010-07-14T15:52:00.000-04:00

   HUNTINGTON – The Marshall University Technology Transfer Office and TechConnectWV will present a free workshop, “The Roadmap from Laboratory to Market: Driving Scientific Discoveries to Commercialization,” on Monday, July 26.

   Intended for scientists and engineers, the workshop will be held from 1 to 3 p.m. at the Marshall University Foundation Hall, 519 John Marshall Dr., Huntington.

   The program will focus on helping participants identify their role in commercializing their discoveries and tapping into a network of people who can help them. Topics will include investment capital, development assistance and take-to-market management talent.

   The workshop will be led by Ron Basini, a consultant to the West Virginia Angel Network.

   Basini has held faculty positions at business schools in North Carolina, Kentucky, Romania and Switzerland, and has raised millions of dollars in angel and venture capital for the four technology-based companies he founded. He also conducts new venture strategy, business plan writing, new management team training and strategic planning seminars around the world.

   The West Virginia Angel Network was formed in 2008 by a group of individuals who make high-risk, potentially high-yield investments in startup companies. The network encourages applications from startup and early stage companies headquartered in West Virginia. Decisions on investing are made on an individual basis and are based on a wide range of criteria, including market growth potential, management team and customer base. For information about the West Virginia Angel Network, visit www.wvangel.net.

   TechConnectWV is a coalition of professionals dedicated to growing and diversifying West Virginia’s economy by advancing technology‐based economic development. The group’s focus is the attraction and creation of innovation‐based companies and jobs, and advanced research and development in universities and the private sector. For more information about TechConnectWV, visit www.techconnectwv.org.

   The workshop is being presented with financial assistance from Verizon. The program is free, but reservations are requested. Send reservations to tto@marshall.edu. For more information, contact Amy Melton at 304-696-4365.

July Open for Business Report released

2010-07-14T15:50:00.000-04:00

CHARLESTON – Gov. Joe Manchin has released the latest “Open for Business” report documenting the state’s economic progress. The July 2010 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.

Morgantown hosts July 13 Manufacture America conference
The conference Manufacture America: Rethink, Retool and Rebuild to Support Jobs will be held on July 13 at West Virginia University’s National Research Center for Coal and Energy in Morgantown. Sponsored by the U.S. Department of Commerce’s International Trade Administration’s Manufacturing and Services unit, the event runs from 9:45 a.m. to 4:30 p.m. The Manufacture America program is designed to help American manufacturers rethink, retool and rebuild their operations through exploring new products, markets, processes and sources of finance. By looking at new markets and emerging and growing industries, and by improving processes and equipment to be more productive, efficient and sustainable, companies can find new ideas to become more competitive. To register for this event, visit http://trade.gov/manufactureamerica.

Energy firm to invest $25 million, create 280 jobs in West Virginia
Select Energy Services of Gainesville, Texas, recently purchased Arvilla Well Services LLC and Buckstone LLC in St. Marys. Select Energy plans to invest approximately $25 million, retain 119 employees and create approximately 280 new jobs in the process of developing Marcellus Shale in West Virginia. The company will undertake gas well construction and maintenance, gas well road construction, water hauling and other related activities.

Hino to add 50 jobs in Wood County to support production expansion
Hino Motors Manufacturing U.S.A. in Williamstown plans to expand its work force by temporarily adding 50 new employees. The new hires will receive training in anticipation of plans to boost production starting in late August or early September and continuing into 2011. Employment may extend beyond the first quarter of 2011 if market conditions dictate. The plant’s current output of eight trucks a day during one shift will be increased to 20 vehicles a day. The advanced technology on the 2011 model trucks will make Hino the only manufacturer of medium duty class trucks that meets new federal emission standards, without using credits.

DuPont hires 40 operators for Wood County facility
DuPont Washington Works recently hired 40 new process operators and announced plans to fill an additional 50 to 70 positions over the next 18 months. The first 20 process operators will report to work in July to begin a five-week training program. The second group of 20 will report for training in August. WorkForce West Virginia helped manage the application process. Wood County officials facilitated background checks that expedited the hiring. DuPont is interviewing for additional positions that will include chemical operators, process operators, material handling operators, electrical and instrument mechanics and area maintenance mechanics. The positions are open due to normal attrition. The company is filling the positions now because customer demand warrants hiring at this time.

Essroc hosts dedication of modernized cement plant in Berkeley County
Essroc dedicated the opening of its cement plant in Martinsburg with an open house in June. Over the last several years, Essroc invested more than $600 million in creating the newer, cleaner, more efficient facility. The updated plant shares the same footprint as the previous cement facility that occupied the same property but features several enhancements. Advances include an enclosed limestone storage dome and enclosed conveyor system that reduces dust, cement/concrete laboratories and a new control room/administration building. The plant reduced the number of mills and kiln lines required, yet is projected to increase production. Essroc is a member of the Italcementi Group, the fifth largest cement producer in the world.

Frontier, CWA, announce $310 million investment in West Virginia
Frontier Communications and Communications Workers of America (CWA) announced that Frontier has agreed to a $310 million investment in the state over the next three years. The funds are to be used for broadband deployment, service quality improvements and other capital expenditures. The Public Service Commission of West Virginia recently approved the sale of Verizon West Virginia landline assets to Frontier.

Monongalia biotech firm begins clinical trials in France to test new drug
Morgantown-based Protea Biosciences and French pharmaceutical manufacturer Mayoly Spindler are conducting human clinical trials in France to test a new drug designed to treat chronic pancreatic disease. Protea, a West Virginia University spin-off biotechnology firm, and Mayoly Spindler developed genetically engineered lipase. Lipase is an enzyme that breaks down fats in food so they can be digested. The goal of clinical trials is to prove the drug is safe and ready for market. Protea has exclusive rights to market lipase in North America.

Marion County technology firm on team awarded $317 million NOAA contract
Global Science & Technology (GST) in Fairmont is a subcontractor on the team awarded a contract from the National Oceanic and Atmospheric Administration (NOAA). The Research and Development High Performance Computing (HPC) System indefinite-delivery/indefinite quantity contract has a four-year base period with options. If all options are exercised, the contract has an estimated value of $317 million. The role of GST as a subcontractor is to provide services in data storage, engineering, operations and maintenance, systems administration and scientific visualization. The lead on the contract is Virginia-based CSC, a global leader in information technology services. The HPC program must support a large-scale computing approach to modeling weather, climate and ecological predictions.

Kanawha County firm inducted into CPM Hall of Fame
Charleston-based Global AlertLink has been inducted into the Contingency, Planning and Management (CPM) Hall of Fame. The CPM Hall of Fame includes prominent firms such as IBM and SunGard. Global AlertLink integrates emergency management, crisis management, automated notification and business continuity response planning into an automated tool. The CPM Hall of Fame was established in 1998 to recognize individuals and businesses that contribute to business continuity.

2010 Innovator Award recognizes TechConnectWV
TechConnectWV was recently recognized when the Southern Growth Policies Board gave its 2010 Innovator Award to West Virginia University for its leadership role in supporting the development of the program. A non-profit coalition of public and private partners, TechConnectWV promotes technology-based economic development throughout the state. In conjunction with Battelle, the organization spearheaded the development of the West Virginia Blueprint for Technology-based Economic Development. The blueprint outlines recommendations to help the state build on its existing strengths to boost the technology economy. The Southern Growth Policies Board is a regional public policy think tank based in Research Triangle Park, NC.

WVDO teams with Polymer Alliance Zone to promote state at Plastec East 2010
Representatives from the West Virginia Development Office participated with the staff of the Polymer Alliance Zone to exhibit at the Plastec East 2010 trade exhibition in New York City in June. The prominent international trade fair showcases advances in primary processing machinery, computer-aided design and manufacturing, production machinery, materials, molds, and mold components, automation technology, materials handling/ logistics and more.

West Virginia Development Office participates in industry exhibition
The West Virginia Development Office (WVDO), the West Virginia Division of Energy and local economic developers recently exhibited at the WINDPOWER conference and exhibition, held in Dallas, Texas. The conference is the premier wind energy event in North America. More than 23,000 attendees and 1,300 exhibitors participated in this year’s conference, offering opportunities for new players to enter the wind market and bring wind leaders together to address America’s economic, energy and climate changes..

WVDO participates in 2010 Miners’ Celebration in Raleigh County
The West Virginia Development Office (WVDO) was among the exhibitors at the 2010 Miners Celebration, held in June at the Resort at Glade Springs in Daniels. The event, organized by the Mine Safety Technology Consortium, draws mining industry professionals, manufacturers of mining equipment including safety and communications, and current and retired miners. Gov. Joe Manchin spoke in tribute to miners and their families. The celebration theme for this year was “Because of You.”

West Virginia Commerce Wins Nine PRSA Awards
The West Virginia Department of Commerce was among the state’s top winners in the annual awards presentation sponsored by the West Virginia Chapter of the Public Relations Society of America (PRSA). The event was held on June 16 in Charleston. The agency took home nine PRSA awards, including three Crystal Awards. The awards showcase Department of Commerce efforts in promoting the state, its advantages, industries and small businesses through a variety of media channels.

West Virginia’s June Unemployment Rate rises to 8.6 percent

2010-07-14T15:47:00.000-04:00

   CHARLESTON — West Virginia’s unemployment rate inched upward one-tenth of a percentage point to 8.6 percent in June, WorkForce West Virginia has reported. The number of unemployed state residents rose 700 to 68,000. Total unemployment was down 2,000 over the year.

   Total nonfarm payroll employment declined 1,400, where a loss of 2,500 in the service-providing sector offset a gain of 1,100 in the goods-producing sector.

   Within the goods-producing sector, gains of 900 in construction and 400 in manufacturing easily overpowered a decline of 200 in mining and logging. Employment gains within the service-providing sector included 2,400 in leisure and hospitality, 800 in trade, transportation, and utilities, 300 in information, 200 in financial activities, and 100 in professional and business services. Employment declines were fueled by a seasonal decline in government, which fell 6,200. Educational and health services slipped 100, while employment in other services was unchanged over the month.

   Since June 2009, total nonfarm payroll employment has fallen 7,000, with a decline of 7,100 in the service-providing sector overpowering a slight gain of 100 in the goods-producing sector. Employment gains included 1,600 in educational and health services, 900 in construction, 500 in other services, and 400 in leisure and hospitality.

   Employment declines included 5,700 in government, 2,300 in trade, transportation, and utilities, 1,100 in financial activities, 700 in mining and logging, 500 in professional and business services, and 100 in manufacturing. Information employment was unchanged over the year.

   West Virginia’s seasonally adjusted unemployment rate declined four-tenths of a percentage point to 8.5 percent, while the national rate declined two-tenths of a percentage point to 9.5 percent.

WVU teams with GlobalPittsburgh for expansion of international programs for the Mountain State

2010-07-14T15:44:00.000-04:00

MORGANTOWN – West Virginia University has teamed with a Pittsburgh-based non-profit group to secure a $68,000 grant from the Claude Worthington Benedum Foundation to engage international companies, organizations and individuals in a variety of initiatives that will bolster economic development in West Virginia.

WVU and GlobalPittsburgh are combining efforts to bring new opportunities to West Virginia by hosting increased numbers of international visitors to the region. The goal is to increase international awareness and student recruitment, as well as active partnerships that might lead to increased regional economic development.

WVU will participate in the partnership by providing staff support to coordinate international visitors for the University and its partners in academic, cultural and economic endeavors. The grant will enable better integration among University units and outreach to various resources in the region.

Michael Wilhelm, director of the Office of International Students and Scholars at WVU said the grant will allow WVU to have a dedicated staff member in place to help with the planning and logistics of international visitors when they are coming to campus.

The WVU Office of Research and Economic Development, the WVU Office of International Students and Scholars and the WVU Office of International Programs are heading plans for WVU’s participation. Increased connections will enhance current efforts to promote international education and cultural exchange; advance research and service by integrating global citizenry; and generate economic activity through worldwide partnerships.

GlobalPittsburgh and WVU welcome volunteers and hosts to act as dinner hosts, tour guides, home stay hosts and drivers for visiting delegations and individuals. WVU’s Office of International Students and Scholars can be reached at 304-293-3519.

   Curt Peterson, WVU vice president of Research and Economic Development, said, “the partnership is consistent with the new trends promoting regional economic development. Increased connectivity between WVU, the University of Pittsburgh and Carnegie Mellon, along with business diversity efforts and the area’s similar economic assets make this type of coordination an imperative.”

   For more than 50 years, GlobalPittsburgh has forged cultural, educational and business relationships between the Greater Pittsburgh Region and the global community through citizen diplomacy – connecting people and institutions in the region with audiences around the world through a wide range of hosting, training, networking, educational and outreach programs.

Global Pittsburgh engages international delegations, groups and individuals by creating itineraries and facilitating introductions through the U.S. Department of State’s International Visitor Leadership Program and other international organizations in the fields of energy & environment, life sciences & medicine, education, business & technology, clean/green design, advanced manufacturing, arts & culture, government & finance, social services & law and other areas.

For more information about Global Pittsburgh programs, visit www.GlobalPittsburgh.org .

Construction Resumes at International Coal Group's Tygart No. 1 Complex

2010-06-03T11:22:00.000-04:00

SCOTT DEPOT -- International Coal Group, Inc. has announced that construction has resumed at its ICG Tygart Valley subsidiary's Tygart No. 1 deep mine complex in Taylor County, near Grafton, West Virginia.

The Tygart No. 1 project received all essential federal and state approvals, but challenges lodged by a local anti-mining organization caused work on the project to be suspended in late 2008. Those challenges were overruled in March by the West Virginia Surface Mine Board.

"We had planned to resume construction in mid-2011, but the strong market demand for Tygart No.1's metallurgical coal product, and growing evidence of improving thermal coal pricing, led us to accelerate the project," said Ben Hatfield, ICG's CEO and President. "The construction and development timeline anticipates initial coal production in late 2011 and longwall startup in early 2014."

The company expects to finance the Tygart No. 1 mine construction through operating cash flow. Development capital requirements are estimated at $325 million, including $18 million spent prior to 2010. As a result of resuming construction at Tygart No.1, the Company now expects 2010 capital expenditures to increase by $15.0 million to a range of $105.0 million to $115.0 million.

At full output, the Tygart No. 1 mine is expected to produce 3.5 million tons per year of premium high-volatile metallurgical and high-quality thermal coal. The mine complex is projected to create over 300 direct jobs in the Taylor County, West Virginia area.

ICG is a leading producer of coal in Northern and Central Appalachia and the Illinois Basin. The Company has 13 active mining complexes, of which 12 are located in Northern and Central Appalachia and one in Central Illinois. ICG's mining operations and reserves are strategically located to serve utility, metallurgical and industrial customers domestically and internationally.

CONSOL Energy and Verdeo Group to Develop First Large Coal Mine Ventilation Air Methane Abatement Project in West Virginia

2010-06-02T15:20:00.000-04:00

PITTSBURGH -- CONSOL Energy Inc. has joined with Verdeo Group, Inc., to develop the first project to destroy ventilation air methane ("VAM") emissions at an active West Virginia coal mine.

The project, which will be located at CONSOL's McElroy Mine near Glen Easton in Marshall County, will demonstrate significant reductions of emissions of methane -- a potent greenhouse gas ("GHG") -- in a safe and proven manner, and without any impact on mine operations or production. It will be the first time the technology will be deployed at an active coal mine in West Virginia, and among the largest such projects of its kind in the U.S. to date.

"Companies will require a wide range of tools and incentives to effectively reduce GHG emissions," said Steve Winberg, CONSOL's Vice President of Research and Development. "CONSOL Energy has committed to utilize as much of its coal mine methane resources as possible. This project will allow us to abate a dilute source of methane that has no commercial value and would otherwise be vented into the atmosphere."

Methane gas is inherent in coal seams and is liberated during the mining process. Coal mines control underground methane emissions through the use of ventilation systems, which circulate large quantities of fresh air through the mine to dilute the methane, and then exhaust the VAM to the surface of the mine and to the atmosphere. According to the U.S. Environmental Protection Agency, VAM represents the largest source of GHG emissions from U.S. coal mines.

The project will utilize regenerative thermal oxidation ("RTO") technology to destroy the GHG emissions from the McElroy Mine. RTO technology has been successfully deployed in industrial process applications for many decades and this project will test the ability to use the equipment at a commercial scale in the mining sector. To date, several technology installations have been employed in the U.S. at facilities, including a coal mine, that fall under the jurisdiction of the Mine Safety and Health Administration.

"This project is a stepping stone to utilizing this commercially available equipment on our other mines, reducing our overall methane emissions and potentially creating carbon offset credits," Winberg added.

As a result of the emergence of trading markets for GHG emission reductions, voluntary initiatives like the McElroy VAM project can generate revenue from the sale of carbon offset credits. The value of these credits enables mine operators such as CONSOL to secure capital from companies like Verdeo to pay for the RTO technology. The carbon offset credits generated from the VAM oxidation project at the McElroy Mine will be registered with the Climate Action Reserve, a leading pre-compliance certification program in the U.S. that approved a protocol for coal mine methane projects in 2009.

Development efforts between CONSOL and Verdeo are actively underway. The project is expected to become operational in the second quarter of 2011.

For more information about CONSOL, visit www.consolenergy.com .

Governor Recognizes State's Top Export Businesses

2010-06-02T14:55:00.000-04:00

   CHARLESTON – Gov. Joe Manchin recently presented the Governor’s Commendation for International Market Entry to representatives of 36 West Virginia businesses. The award honors companies that have successfully exported to a new country in the past year.

   “International trade and investment help to create and retain jobs in West Virginia,” said Gov. Manchin. “I thank our exporting companies for their efforts and congratulate them on their success in proving West Virginia has the quality of goods, services and workers to compete successfully in the global market.”

   In 2009, West Virginia exports amounted to $4.8 billion. The top export product sectors included coal, plastics, machinery and chemicals.

   The governor’s award is based on the tradition of displaying the first dollar a business earns. The Governor’s Commendation for International Market Entry frames currency from each new country to which the recipient business began exporting in 2009.

   Commendations were handed out to:

Berkeley County
- DSI Underground Systems, Inc. of Martinsburg; Austria, Russia
- Power-Sonix, Inc. of Martinsburg; Brazil, Jordan

Braxton County
- GTR Labs, Inc. of Gassaway; Vietnam, Bolivia, Philippines, Saudi Arabia, Singapore, Yemen, Chile, India, Australia, Portugal

Cabell County
- Guyan International of Barboursville; Chile, Argentina, Kenya, Uruguay
- Rubberlite, Inc. of Huntington; Malaysia, Italy
- Star Technologies, LLC of Huntington; Sweden, France

Fayette County
- Blue Smoke Salsa of Ansted; Bermuda
- The Robbins Company of Oak Hill; Dominican Republic, Malaysia, Mexico

Grant County
- Allegheny Wood Products of Petersburg; Hong Kong, Ireland

Hancock County
- United States Gypsum Company of Weirton; Greece

Harrison County
- MSES Consultants, Inc. – Corrosion Products Division of Clarksburg; Canada, Mexico, Colombia, United Kingdom, Hong Kong

Jackson County
- J&M Industrial, Inc. of Millwood; Panama, Guyana, Russia, Lithuania

Jefferson County
- Schonstedt Instrument Company, Inc. of Kearneysville; Brazil, Portugal, Turkmenistan

Kanawha County
- ConveyWeigh, LLC of South Charleston; Ecuador, El Salvador, Panama
- Cyclops Industries, Inc. of South Charleston; Singapore, Argentina, The Netherlands
- ICL-IP Clearon Corp. of South Charleston; India
- Preiser Scientific, Inc. of Saint Albans; Argentina, Brazil, Chile, Peru

Logan County
- Eastern Mining & Industrial Supply, Inc. of Chapmanville; Australia, China
- Ludowici Innovative, Inc. of Chapmanville; Australia

Marion County
- Backbone Security of Fairmont; Bangladesh, China, Indonesia, Pakistan, Poland, Serbia, Spain, United Arab Emirates
- Middletown Manufacturing, Inc. of Fairmont; Malaysia, Germany, Saudi Arabia, China
- T&T Pump Company, Inc. of Fairmont; China, Hong Kong, Colombia

Marshall County
- IMI-Fabi, LLC of Benwood; Russia, India

Mason County
- ICL-IP America, Inc. of Gallipolis Ferry; Qatar

Mineral County
- Howell Automotive of Keyser; Ghana, Malawi

Monongalia County
- Shaft Drillers International of Morgantown; Brazil

Morgan County
- Pritchard Amps of Berkeley Springs; Australia, France

Ohio County
- Touchstone Research Laboratory, Ltd of Triadelphia; Japan, Czech Republic, Brazil, United Arab Emirates

Putnam County
- Clark International Logistics of Poca; Paraguay, Colombia, China, The Netherlands, Ecuador, Lebanon, Cameroon, Turkey, Bolivia, Peru, Tanzania, Philippines, Guyana, Bahamas
- Eagle Research Corporation of Scott Depot; Vietnam

Raleigh County
- The Gentlemen’s Quarter of Beckley; Brazil, India, Italy, New Zealand, Portugal, Russia, Spain
- Mining Controls of Beckley; Austria, Canada, Mexico, Colombia, Latvia, Indonesia, Australia, Ireland, Germany, Madagascar, Chile, Peru, Israel, United Kingdom, Ukraine, Brunei, Zambia, Ethiopia

Upshur County
- AFP Logs and Lumber, LLC of Buckhannon; Hong Kong, Portugal, South Korea

Wood County
- Batteries Direct of Parkersburg; Italy, Argentina, Hong Kong
- Kreinik Manufacturing Company of Parkersburg; Venezuela, Singapore, Russia, Czech Republic
- Rolling Ridge Woods, LLC; Japan

May Open for Business Report released

2010-06-02T14:47:00.000-04:00

CHARLESTON – Gov. Joe Manchin has released the latest "Open for Business" report documenting the state’s economic progress. The May 2010 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.

Nippon Tungsten USA celebrates grand opening in Cabell County
Nippon Tungsten USA Inc. held its grand opening on April 21. For parent company Nippon Tungsten, the new facility marks its first in North America and its first wholly owned subsidiary outside of Japan. Speakers included Gov. Joe Manchin and Shozo Yoshida, president of Nippon Tungsten Co., who, with several corporate executives, had traveled from Japan for the ceremony.
The high-tech specialized machine shop will resharpen blades manufactured by Nippon Tungsten’s equipment in Japan. Because the work is highly technical, the company will start with experienced technicians from Japan, then phase in local employees. Nippon Tungsten USA will create six jobs initially.

New business creates three jobs in Greenbrier County
Smooth Ambler Spirits opened in April in Maxwelton, creating three jobs. The artisan distillery will produce approximately 1,200 bottles a week of vodka, gin and bourbon. The firm plans to gradually expand its business by building special orders throughout the region. Smooth Ambler does not serve drinks, but offers product samples and sells by the bottle.

West Virginia profiled in May 2010 US Airways in-flight publication
West Virginia is featured in the US Airways in-flight magazine’s May 2010 issue. The 11-page special "Outlook" section spotlights such topics as West Virginia’s attractions, heritage and travel and relocation information. The publication reaches an estimated 3.1 million affluent business and leisure travelers who fly the airline to reach more than 230 destinations in 32 countries. The special "Outlook" section can be viewed online atwww.wvcommerce.org/usair.

Film Credit Development Committee approves more than $861,500 in tax credits
During the first quarter of 2010, the Film Credit Development Committee authorized the West Virginia Film Office to issue tax credits totaling more than $861,562 to participants in the West Virginia Film Industry Investment Act. This represents an increase of more than 800 percent compared to the amount of credits issued during calendar year 2009. Following the conclusion of filming, tax credits were issued to GCM Productions Inc. of Glendale, Calif.; My Tupelo Entertainment LLC of New York, N.Y.; and Image Associates of Charleston, W.Va., based on qualified, in-state expenditures totaling $2,828,856. Combined, these productions hired more than 85 full- and part-time West Virginia skilled laborers and hired more than a dozen talents. They also used numerous West Virginia companies for services such as heavy equipment rentals; construction; camera, audio and lighting equipment purchases and rentals; electric and other utilities; transportation rentals; catering; lodging; security personnel; and more.

West Virginia Film Office wins two awards at industry exhibitionThe West Virginia Film Office exhibited at the 25th annual Locations Trade Show in Santa Monica, Calif., April 15-17, hosted by the Association of Film Commissioners International. As part of AFCI's Marketing & Booth Awards, which recognize best-in-show marketing and advertising campaigns, the Film Office received two awards: second place for "Most Creative" and second place for "Digital Advertising." More than 260 companies participated, including more than 100 film commissions from around the world. The trade show attracts thousands of decision-makers from the film and television industries. In addition to promoting locations, the office markets West Virginia's tax and financial incentives to generate leads for recruiting new business into the state. More information about the trade show can be found at www.locationstradeshow.com.

Raleigh County consultant says "I do" to role as stylist for bridal TV show
Monty Durham, bridal consultant and owner of Salon M at the Glade Springs Resort, has been hired as the fashion stylist for the TLC reality show, "Say Yes to the Dress – Atlanta." He advises brides on hair, make-up and etiquette on the show. The show is a spin-off of the popular TLC show "Say Yes to the Dress" taped in New York. "Say Yes to the Dress – Atlanta" will begin airing in July.

Tourism meets with CVBs, businesses, in series of Roundtables across the state
Tourism Division personnel coordinated a series of Regional Roundtables hosted by the Convention and Visitors Bureaus (CVBs) in each of West Virginia’s nine tourism regions during March and April. The Small Business Development Center also participated in each of the events. The Roundtables provided an opportunity for the Tourism staff to meet face-to-face with industry members and provide information about available resources, answer questions and obtain industry feedback. A total of 211 participants attended the sessions. Roundtable topics included Tourism’s Matching Advertising Partnership Program (MAPP), targeted marketing, customer service centers, Film Office, group tours and small business development.

Two Marshall University business students to present ideas to top U.S. economists and policy makers

2010-06-02T14:39:00.000-04:00

HUNTINGTON – Two students taking an economics class in the Marshall University Lewis College of Business have been selected to be among 12 finalists who will present their ideas to a panel of top U.S. economists and policy makers during the National Economics Insider Symposium this summer.

While taking Principles of Microeconomics, Natalie J. Faulk, a senior education student from Hartford, W.Va., and Jerica D. Hall, a sophomore management major from Hurricane, W.Va., wrote winning papers for the competition. They will travel to Washington, D.C., June 11-12 to make their presentations to a Nobel Prize winner in economics, a White House economic adviser, and a member of the Board of Governors of the Federal Reserve System, among others.

Economics and finance adjunct professor Ralph E. McKinney Jr., nominated the students.

“Marshall University is fortunate to have two of 12 finalists for this honor. This speaks highly of our commitment to research and education,” McKinney said.

Contestants could submit essays on one of the following economic issues: health care; the environment; education; housing; technology; or other economic issues needing to be addressed. Faulk wrote about Cap and Trade. Hall wrote about the effect of oil and gas costs on shipping costs. They will be competing for a top prize at the event.

While in Washington, finalists will present to Ben Bernanke, chairmen and member of the Board of Governors of the Federal Reserve System; Paul R. Krugman, winner of the 2008 Nobel Prize in Economics; Olivier Blanchard, Economic Counselor and Director of Research Department of the International Monetary Fund; R. Glenn Hubbard, former Chairman of the White House Council of Economic Advisors; Karl E. Case, the Katherine Coman and A. Barton Hepburn Professor of Economics at Wellesley College; Frederic S. Mishkin, former Board of Governors member of the Federal Reserve; as well as the following research associates from the National Bureau of Economic Research: Daron Acemoglu (Massachusetts Institute of Technology); David I. Laibson (Harvard University); and John List (University of Chicago).

Students will also tour the Federal Reserve and the White House.

The National Economics Insider Symposium is an exclusive event sponsored by Pearson Higher Education, a publishing company that offers textbooks under the brands Addison-Wesley, Allyn & Bacon, Benjamin Cummings, Longman, Merrill and Prentice Hall.

SBA, SCORE to host free business organization seminar in Charleston

2010-05-25T15:31:00.000-04:00

CHARLESTON – The U.S. Small Business Administration and Charleston SCORE will host the business clinic Taxes v. Liability: Business Legal Organizations Explained featuring Joetta Kuhn, CPA, on Thursday, June 17, 2010 from 5:30 p.m. to 6:30 p.m. in the 4th Floor Conference Area at 405 Capitol Street in Charleston, W.Va.

The clinic is free and open to the public.

   Individuals can register online at www.wvscore.org or at (304) 347-5463. Registration is suggested but not required.

   Emma Wilson, manager of the SBA’s Charleston Branch Office, said, “How should I structure my business is one of the top questions we get. This clinic explains the advantages and disadvantages of sole proprietors, limited liability companies, and small business corporations and explores which type is right for you and your business.”

   This clinic is one in a series of free small business clinics and webinars for small business owners. Upcoming sessions include:

   · Facebook for Business webinar, featuring Kara Gray, New Horizon Consulting, on August 10, 2010

   Registration for the above clinic can be made online at www.wvscore.org .

Unemployment rate falls in April in 54 of state's 55 counties

2010-05-25T15:29:00.000-04:00

CHARLESTON — West Virginia's unemployment rate fell from 10.1 to 8.9 percent in April 2010. All but one county reported declining unemployment rates as well.

The number of counties recording an unemployment rate considered much worse than average when compared to the state rate dropped slightly in April. This group included Brooke (13.7), Roane (13.9), Clay (14.5), Calhoun (15.7), and Pocahontas (16.0).

The number of counties recording an unemployment rate considered better than average when compared to the state rate was unchanged in April. This group included Taylor (7.5), Harrison (7.4), Marion (7.3), Putnam (7.3), Monroe (7.2), Preston (7.2), and Jefferson (6.8).

Once again, Monongalia (5.5) was the sole county recording an unemployment rate considered much better than average when compared to the state rate.

West Virginia's unemployment rate fell to 8.9 percent in April

2010-05-17T15:27:00.000-04:00

CHARLESTON — West Virginia’s unemployment rate fell from 10.1 to 8.9 percent in April, WorkForce West Virginia reported today. The number of unemployed state residents declined 8,700 to 69,800. Total unemployment rate was up 8,700 over the year.

Total nonfarm payroll employment rose 7,100, with gains of 3,400 in the goods-producing sector and 3,700 in the service-providing sector. Within the goods-producing sector, employment gains included 2,600 in construction, 500 in manufacturing, and 300 in mining and logging.

   Employment increases with the service-providing sector included 1,600 in professional and business services, 1,600 in leisure and hospitality, 800 in other services, and 600 in trade, transportation, and utilities. Employment declines included 500 in educational and health services, 200 in government, 100 in information, and 100 in financial services.

   Since April 2009, total nonfarm payroll employment has fallen 8,000, with losses of 5,300 in the goods-producing sector and 2,700 in the service-providing sector. Declines included 2,200 in trade, transportation, and utilities, 2,100 in mining and logging, 1,700 in manufacturing, 1,700 in leisure and hospitality, 1,500 in construction, 800 in financial activities, 700 in information, and 300 in professional and business services.

   Employment gains included 1,800 in government, 1,000 in educational and health service, and 200 in other services.

   West Virginia’s seasonally adjusted unemployment rate declined three-tenths of a percentage point to 9.2 percent, while the national rate climbed two-tenths of a percentage point to 9.9 percent.

U.S. Census Bureau to hold business-focused conference at WVU

2010-05-17T14:19:00.000-04:00

   MORGANTOWN – The U.S. Census Bureau will hold a half-day conference at West Virginia University June 7 to explore data from the 2007 U.S. Economic Census and provide insight into future trends and issues that could affect the region and state.

   The event is from 8:30 a.m. to noon in room 141 of WVU’s Business and Economics building (downtown campus). It is free but space is limited. Economic development officials, members of the business community, economic researchers and planners are encouraged to attend. Please register online at: http://www.regonline.com/Checkin.asp?EventId=862416 .

   The emphasis is on West Virginia business data and its use for economic development research. Participants will have the opportunity to learn, hands on, about the data of various businesses from Census Bureau representatives.

   The Economic Census provides a detailed portrait of the U.S. economy every five years, from the national to the local level. For example, data from the Economic Census might allow users to find answers to questions such as:

   • How many product manufacturing establishments are there in our community?

   • How are these establishments distributed across counties based on their size?

   • What is the market share of your product in your region?

   • Based on the region’s per capita income, in which community is the sale of your product most under-represented?

   The conference is sponsored by WVU’s Bureau of Business and Economic Research.

Seven West Virginia Businesses and Champions Honored

2010-05-13T14:59:00.000-04:00

BECKLEY – Judy K. McCauley, director of the U.S. Small Business Administration’s West Virginia Office welcomed business leaders and officials from all corners of the state to the Tamarack Conference Center in Beckley today to honor West Virginia’s top entrepreneurs and small business champions at the annual Small Business Week Awards Celebration.

“Small Business Week gives us to opportunity to recognize and reward the hardest working men and women in West Virginia,” said McCauley. “West Virginia’s 125,000 plus small businesses have proven time-and-again that the American dream is powerful, resilient and adaptable. Their grit and determination have helped lead us through our recent difficult times toward a greater economic growth and it is good we acknowledged them as such.”

The event was keynoted by Susan Sisk, general manager for the United States Capitol Visitor Center. Sisk took the opportunity on Thursday to praise West Virginia’s small businesses and champions during her address, and took time to visit the small businesses which make up the Tamarack Foundation’s Artisans Resource Center. The Capitol Visitor Center strives to purchase products made in the United States and Sisk explored the possibility of utilizing products generated by Tamarack artisans at the Visitor Center.

Recognized as West Virginia’s Small Business Person of the Year was Craig W. Hartzell, president and CEO of Azimuth, Incorporated in Morgantown. In addition to his recognition at the Celebration, Hartzell will also be recognized at the 47th annual National Small Business Week gala in Washington DC on Tuesday, May 25, 2010 where he will learn whether he will be selected as the National Small Business Person of the Year.

Also honored at the 2010 West Virginia Small Business Awards Celebration were: Jalon “Jay” Petre, president of Renick Millworks, LLC, Renick as SBA Young Entrepreneur; Roberta Johnson, C. Thomas and Rosemary Grant from First Choice Bookkeeping, Inc. in Huntington as Financial Services Champions; Diane Lewis, president of Action Facilities Management in Morgantown as Minority Small Business Champion; Kara Gray, owner of New Horizon Consulting in Dallas as Women in Business Champion; and Scott M. Hedges, president & CEO and Michael J. Grady, vice president from Power Sonix, Inc. in Martinsburg as Small Business Exporters.

Recognized as West Virginia’s 2010 Jeffrey Butland Family-Owned Small Business Person of the Year was L.J. Hughes & Sons, Inc. in Summersville. The company is operated by twin brothers David M. and John M. Hughes and cousin Fletcher G. Herold, Jr. The largest diamond core drilling contracting company on the East Coast was also selected as SBA’s Region III top Family-Owned Small Business. Region III includes Delaware, Maryland, Pennsylvania, Virginia, Washington D.C. and West Virginia.

Cabell Huntington Hospital named a finalist in 2010 American Business Awards

2010-05-13T14:58:00.000-04:00

HUNTINGTON — Cabell Huntington Hospital was named a finalist today in the Human Resources Department of the Year category in The 2010 American Business Awards.

The American Business Awards are the nation’s premier business awards program. All organizations operating in the U.S.A. are eligible to submit entries – public and private, for-profit and non-profit, large and small.

More than 2,700 entries from organizations of all sizes and in virtually every industry were submitted for consideration in more than 40 categories, including Most Innovative Company of the Year, Management Team of the Year, Best New Product or Service of the Year, Corporate Social Responsibility Program of the Year, and Corporate Environmental Responsibility Program of the Year. Cabell Huntington Hospital will be competing in the Human Resources Department of the Year category for organizations with up to 2,500 employees.

Under the leadership of Barry Tourigny, Vice President of Human Resources and Organizational Development, Cabell Huntington Hospital’s Human Resources Department strives to create an atmosphere at work that is both challenging and rewarding, where colleagues are respected and share in each others accomplishments. Over the last five years, HR staff have attained professional certifications and advanced training in order to meet the needs of the organization. Automating nearly 100 percent of our functionality has been a top priority, giving access to the functions the staff needs to do their work. The Human Resources Department is most proud of programs designed to enhance work-life balance. Nearly 70 percent of the hospital staff participates in some form of healthy lifestyles programs offered by Human Resources.

Members of the Awards' Board of Distinguished Judges & Advisors and specialized final judging committees will select Stevie Award winners from among Finalists in final judging that will continue through May 28. Finalists were chosen by business professionals nationwide during preliminary judging in April and May.

Details about The American Business Awards and the list of finalists in all categories are available at www.stevieawards.com/aba .

Cabell Huntington Hospital is a regional, 313-bed referral center located in Huntington, West Virginia. Cabell Huntington cares for patients from more than 29 counties throughout West Virginia, eastern Kentuckyand southern Ohio. Opened in 1956, it is also a teaching hospital and is affiliated with Marshall University Schools of Medicine and Nursing.

Marshall University to conduct wind analysis on surface-mined lands

2010-05-06T14:58:00.002-04:00

HUNTINGTON – Marshall University’s Center for Environmental, Geotechnical and Applied Sciences (CEGAS) and the West Virginia Brownfields Assistance Center at Marshall are partnering with the West Virginia Division of Energy (WVDOE) Office of Coalfield Community Development to perform research and provide project administration for wind analysis on surface-mined properties in West Virginia.

Scientists at CEGAS, with assistance from the university’s Center for Business and Economic Research, will be performing wind analysis at selected surface-mined lands to evaluate wind resources for energy development. Funding for the project is being provided by the WVDOE and the Appalachian Regional Commission.

Dr. Tony Szwilski, director of CEGAS, said the goal of the project is to encourage the reuse of West Virginia’s surface-mined lands through the direct development of renewable energy projects.

“West Virginia has a mandate to significantly increase the production of renewable energy in the state,” he said. “With this project, Marshall University is taking a leading role in assessing wind resource potential on surface-mined lands.”

For the analysis, CEGAS will use state-of-the-art Sonic Detection and Ranging (SODAR) equipment. SODAR performs wind profiling up to approximately 200 meters above the earth’s surface, recording wind speed, wind direction, wind sheer and wind veer. The SODAR unit CEGAS will use is a self-contained system that uses solar and battery power to operate, and applies satellite data transmission and telemetry for quick, 24/7 data retrieval and review.

The CEGAS researchers will be comparing wind data from the SODAR to existing datasets and industry requirements. The results will be useful in determining future alternative energy development across West Virginia.

Results will be made available on the websites of the West Virginia Division of Energy (www.energywv.org ) and the West Virginia Brownfields Assistance Center (www.wvbrownfields.com ).

Ronceverte Development Corporation receives USDA Rural Enterprise Grant

2010-05-06T14:57:00.000-04:00

   RONCEVERTE — The Ronceverte Development Corporation has been awarded a $145,000 USDA Rural Enterprise Grant to purchase and renovate the former American Legion Building and attract new businesses in downtown Ronceverte.

   The $145,000 USDA Rural Business Enterprise Grant will allow the Ronceverte Development Corporation to purchase the American Legion Building and fully renovate the facility including heating and electrical and create two new retail spaces and a game room.

   The Ronceverte Development Corporation has renovated several buildings and attracted fifteen new businesses to the downtown over the last three years as part of ongoing downtown revitalization efforts.

   “We greatly appreciate the support of USDA for the grants we have received. This agency has made a huge difference for our revitalization efforts,” said Douglas Hylton, Executive Director of the Ronceverte Development Corporation. “We hope this next project is as successful as the first grant and renovation project was in promoting and attracting small businesses and revitalizing our downtown.”

   “This USDA grant in combination with other federal dollars are having a huge impact on the Ronceverte community,” said U.S. Rep. Nick Jo Rahall. “The four jobs that will be created through this specific renovation project will lead to more jobs created when new businesses move into the renovated business space.”

Former Johnson & Johnson executive named dean of WVU College of Business

2010-05-04T10:29:00.000-04:00

MORGANTOWN — Dr. Jose V. "Zito" Sartarelli, a successful pharmaceutical executive at three Fortune 500 companies, has been named the Milan Puskar Dean of the College of Business and Economics at West Virginia University.

"We are fortunate to have a person of Dr. Sartarelli's expertise and background to lead the College," Provost and Vice President for Academic Affairs Michele Wheatly said in announcing the appointment Tuesday. "He brings a wealth of experience in international business, as well as an appreciation of the academic underpinning required to succeed in today's business climate."

Sartarelli said he is excited by the College's potential.

"I think WVU College of Business and Economics is poised to grow and become very successful in the future," he said. "The foundations are established and now we're going to have to take it to the next level.

"I think we're going to have to work very hard on funding as we go forward; we're going to have work very hard on the programs that we currently have to make sure they're focused and targeted and very student-centric, both in terms of providing a quality education as well as opportunities as they graduate," said Dr. Sartarelli, who was to be introduced Tuesday evening at a reception celebrating the College’s 56 continuous years of AACSB accreditation. He will begin his duties July 30.

Previously he served at Bristol-Myers Squibb Co. as president of two international groups and senior vice president of franchise management, business analysis and planning.

Dr. Sartarelli also held senior positions of increasing responsibilities in marketing and management at Eli Lilly and Co. in the United States, Latin America, and Asia-Pacific. During his tenure with Lilly, he ran Asia-Pacific operations, directed international market planning activities and ran operations in Brazil and Chile.

Through March 2010 Dr. Sartarelli was a board member of the Council of the Americas. In addition, he has held leadership positions in the industry in many countries and has served as chairman of the Pharmaceutical Research and Manufacturers of America (PhRMA) International Steering Committee and other significant committee chairmanships such as those for Japan, Canada, Latin America and Asia-Pacific.

The WVU College of Business and Economics has 66 full time faculty members, 1,041 undergraduate students and 344 graduate students. William Trumbull has been serving as interim dean since July 2008.

Morgantown Entrepreneur Named 2010 W.Va. Small Business Person of the Year

2010-04-22T11:06:00.000-04:00

   CLARKSBURG, W.Va. – In the late 1980’s, Craig Hartzell had a desire to create a company that could successfully compete for- and win- Department of Defense contracts. The U.S. Army Special Forces veteran was aware there were business opportunities with the military and that no West Virginia companies were doing so at the time. He also knew it would take an extraordinary effort because West Virginia’s economy was considered resource-based and not technology-based.

   But through his persistence and leadership abilities, Azimuth, Incorporated was created which resulted in Hartzell, the company’s president and CEO, being named West Virginia’s 2010Small Business Person of the Year by the U.S. Small Business Administration.

   Hartzell will be honored at the annual West Virginia Small Business Awards luncheon on Thursday, May 13, at the Tamarack Conference Center in Beckley. He will also be recognized at the 47th annual National Small Business Week gala in Washington DC on Tuesday, May 25, where Hartzell will learn whether his name will be called as the National Small Business Person of the Year.

   Azimuth specializes in engineering, fabrication and engineering services in support of the U.S. Department of Defense. Hartzell as the founder and first full time employee of Azimuth has over thirty years of experience in the fields of electronic communications, special operations and business management.

   Hartzell realized in order to be successful, he had to create a company that could win contracts, provide outstanding support and build a solid reputation. He wanted a company that incorporated sound ethical principles, customer loyalty, and the highest standard of integrity and honesty. Although Azimuth is known by these principles today, they didn’t evolve without overcoming several obstacles.

   Hartzell found he was competing for contracts with larger, well-established companies and coming up short. He realized what he needed was more experience and some clout. To overcome this disadvantage he entered into a Department of Defense Mentor/Protégé Program with Electronic Warfare Associates, (EWA) Inc., a large prime contractor for the DoD, serving as Azimuth’s corporate mentor. This association led to Azimuth’s first contract of $79,000 which allowed Hartzell to hire his first employees. It also provided Hartzell with some of the tools and experience he needed to build a solid performance core.

   With a Mentor/Protégé agreement in place, Azimuth seemed to be on the right path to win government contracts. However, Hartzell soon realized the company lacked the necessary capital to meet the financial challenges of successful contract bidding.

   A loan through SBA’s 7(a) guaranty loan program was secured through a local lender that helped alleviate some of the initial funding issues. More frequent contract awards led to the need of another SBA-guaranteed loan. Hartzell credits the receipt of those two loans as being absolutely critical to the initial survival of Azimuth.

   Through all of these efforts, Azimuth has evolved into a reputable defense contractor of nearly 100 employees operating in four facilities in West Virginia – two in Morgantown and two in Fairmont – and in satellite locations in Maryland, Virginia, Florida and North Carolina.

   West Virginia SBA Director Judy McCauley said Hartzell epitomizes the criteria for the Small Business Person award and is an excellent representative for small business success in West Virginia.

   Hartzell was nominated by Sharon Stratton, center manager for the West Virginia Small Business Development Center in Morgantown.

   Also being honored at the 2010 West Virginia Small Business Awards Celebration on May 13th event are: Jalon “Jay” Petre, president of Renick Millworks, LLC, Renick as SBA Young Entrepreneur; C. Thomas and Rosemary Grant from First Choice Bookkeeping, Inc. in Huntington as Financial Services Champions; Diane Lewis, president of Action Facilities Management in Morgantown as Minority Small Business Champion; Kara Gray, owner of New Horizon Consulting in Dallas as Women in Business Champion; Scott M. Hedges, president & CEO and Michael J. Grady, vice president from Power Sonix, Inc. in Martinsburg as Small Business Exporters; and David M. Hughes, John M. Hughes and Fletcher G. Herold, Jr. from L.J. Hughes & Sons, Inc. in Summersville as *Jeffrey Butland Family-Owned Small Business. (*L.J. Hughes & Sons, Inc. also received this award for SBA Region III which includes Delaware, Maryland, Pennsylvania, Virginia, West Virginia, and the District of Columbia.)

   The Awards Celebration is being hosted by the West Virginia Women’s Business and Training Center and will run from noon until 2 p.m. on Thursday, May 13. Cost is $40 per person. To register, contact Karen Jones at (800) 766-4556, via email at kjones@westvirginiawbc.org , or register online at www.westvirginiawbc.org .

SBA, SCORE to host free 'Facebook for Business' webinar

2010-04-22T11:00:00.000-04:00

CHARLESTON – The U.S. Small Business Administration and SCORE will host a free webinar Facebook for Business featuring Kara Gray of New Horizon Consulting on May 11 at noon. Register at www.wvscore.org . Pre-registration is encouraged but not required.

   According to Gray, “Facebook is a great way to grow your online relationships and promote your business. We’ll show you how to create a Fan Page and then how to integrate Facebook with other social media tools and develop a smart Facebook strategy.”

   Gray specializes in high-tech public relations and marketing copywriting, including news releases, case studies, web copy, newsletters and by-lined articles. Her work includes a variety of clients in the private and federal technology sector, including the NASA Commercial Technology Program.

   This clinic is one in a series of free small business clinics and webinars for small business owners. Upcoming sessions include:

· LLC v. S-Corp: Which is Right for You? webinar, featuring Larry Ickes, CPA, May 18.

   · Small Business Loans: No Hype, Just the Facts clinic, featuring Christy Scott, Sun Trust Bank, May 20.

   · Deductible Business Expenses webinar, featuring Larry Ickes, CPA on June 15.

   · Taxes v. Liability: Business Legal Organizations Explained clinic, featuring Joetta Kuhn, CPA, June 17.

   Registration for all of the above clinics can be made online at www.wvscore.org .

Unemployment down in most state counties in March

2010-04-16T16:09:00.002-04:00

CHARLESTON — West Virginia's unemployment rate declined eight-tenths of a percentage point to 10.1 percent in March 2010. Nearly every county reported a declining unemployment rate as well, WorkForce West Virginia has reported.

The number of counties recording an unemployment rate considered much worse than average when compared to the state rate was unchanged in March. This group included Wetzel (15.3), Wirt (15.4), Brooke (15.9), Clay (16.2), Roane (16.9), and Calhoun (18.8).

The number of counties recording an unemployment rate considered better than average when compared to the state rate grew slightly in March. This group included Cabell (8.5), Boone (8.4), Harrison (8.4), Kanawha (8.3), Marion (8.2), Putnam (8.1), and Jefferson (7.7).

Once again, Monongalia (5.6) was the sole county recording an unemployment rate considered much better than average when compared to the state rate.

Insurance executive to deliver annual Weese Financial Services Lecture at WVU

2010-04-16T11:23:00.000-04:00

MORGANTOWN -- A top insurance executive will speak at West Virginia University on business leadership during the College of Business and Economics annual Samuel H. Weese Financial Services Lecture.

   John E. Schlifske, president of Northwestern Mutual, will speak on "The Long Run: Driving Sustainable Long-Term Enterprise Value" Tuesday, April 20, at 3:30 p.m. in the Mountainlair Gluck Theater. The event is free and open to the public with a reception to follow.

   Schlifske became president of Northwestern Mutual and a member of the company’s board of trustees in 2009.

   Previously, Schlifske was president and chief executive officer of Russell Investment Co. and Northwestern Mutual’s executive vice president for investment products and services. In that role, he was responsible for all aspects of the company’s investment products and services business, including annuities, mutual funds, advisory products and the Northwestern Mutual Wealth Management Co.

   Schlifske joined Northwestern Mutual in 1987 as an investment specialist and began to hold positions of increasing authority. He managed company investments in private placements, leveraged buyouts, private equity and public convertibles, as well as mortgage loans and real estate.

   The Weese lecture was established in honor of Dr. Samuel H. Weese, who earned an undergraduate degree and MBA from the WVU College of Business and Economics and a Ph.D. from the University of Pennsylvania’s Wharton School. He was insurance commissioner for West Virginia from 1969-75.

Federal Agencies Reach Out to Small Businesses Owned by Service Disabled Vets

2010-04-16T10:11:00.000-04:00

CLARKSBURG - Small businesses owned by service disabled veterans have a terrific opportunity to learn the ins and outs for doing business with the federal government. The U.S. Small Business Administration, West Virginia District Office and the U.S. Army Corps of Engineers, Huntington and Pittsburgh offices, are cosponsoring a federal and prime contracting event on Wednesday, April 21, in Fairmont - Dynamic Networking for Small Business. There will be two workshops to help service disabled veterans who own a small business or who are starting a small business.

There are four information tracks covering the day’s activities. Along with the workshops for the service disabled veterans there will be panel presentations by agencies and large businesses looking for subcontractors, SBA certification programs, tips and tricks for government contracting and much more.

Experts will be on hand to provide advice and suggestions about how to succeed with doing business with the federal government. The event has been designed to streamline the information process so all small businesses can get the information they need to get to where they want to go in their future.

“We are so excited to be doing this with the Corps of Engineers,” said Judy McCauley, District Director. “They are a highly skilled agency which makes them a perfect complement for reaching out to a very valuable segment of the small business community – our service disabled veterans.”

Anyone interested in attending the free event being held at the I-79 Technology Center Research Park can preregister with Naomi.bassel@sba.gov .

Huntington Regional Chamber of Commerce's annual dinner set for May 19

2010-04-16T09:50:00.000-04:00

HUNTINGTON — BB&T will present the Huntington Regional Chamber of Commerce’s 119th Annual Dinner with Keynote Speaker John Jung, BB&T’s Capital Markets Operating Officer, on Wednesday, May 19, at the Pullman Plaza Hotel, 1001 Third Ave., Huntington.

Jung is Senior Marketing Director of Scott & Stringfellow, a BB&T Corporation Affiliate and full-service regional brokerage subsidiary. A member reception will be at 5 p.m. followed by the dinner with seating beginning at 5:45 p.m.

Jung has 26 years of experience in the capital markets business and holds a Bachelor of Science degree in Systems Engineering and a Master’s degree in Business Administration from the University of Virginia.

BB&T Corporation, headquartered in Winston-Salem, N.C., is among the nation's top financial-holding companies. Its bank subsidiaries operate more than 1,800 financial centers in the Carolinas, Virginia, West Virginia, Kentucky, Georgia, Tennessee, Maryland, Florida, Alabama, Indiana, Texas and Washington, D.C.

Various sponsorship opportunities are now available, contact the Chamber at (304) 525-5131 for information.

Richmond Fed president details financial crisis during speech at WVU

2010-04-14T15:09:00.000-04:00

MORGANTOWN – As he constantly consumed information on the financial crisis that recently pushed the country into a recession, Richmond Federal Reserve Bank President Jeffrey Lacker saw a lot of reports that placed blame on economists for failing to predict the factors leading up to it.

“I’m going to attack that notion for you today,” Lacker told his audience of mostly business and politics students at West Virginia University on Wednesday (April 14). “I’m going to try and demolish that notion.”

Calling the assumption that economists should have predicted the details of the recession “unfair,” Lacker pointed to the ways in which economists had tracked and predicted in the last few decades the forces that led to the financial crisis.

As he gave the audience a background of economic research, Lacker brought up points of concern that the researchers had noted. As far back as 1977 economists noticed that depository insurance had an influence on the risks taken by banks and consumers. If the bank was insured, it took on more risk and its consumers were less likely to monitor the bank’s practices.

Lacker spoke of other economists who noted that as banks became insured, oversight on their behavior would relax. Also, with the insuring of banks, panic attacks of bank runs were rewarded by the promise of a 100 percent return immediately. An alternative strategy proposed was that of offering something like an 80 percent return on investment after a certain point, which put a penalty on panicking.

But what may have been most telling about the most recent financial crisis was that the government took on a role of rescuing large financial institutions, those “too big to fail,” fueled by an undefined perception by the public that these banks would be shepherded by the government in the event of a crisis.

“This is a huge problem,” Lacker said.

He pointed to two of the biggest names in news in the last two years as an example. Fannie Mae and Freddie Mac, both mortgage insurers, were not regularly financially supported by the government, but they were bailed out due to a public perception that they would be bailed out.

“Fannie Mae and Freddie Mac have been more expensive than anything else in this crisis,” Lacker said. “Over $100 billion and still there’s more losses to come for us taxpayers. They were able to borrow at much lower interest rates than competitors in the mortgage securitization market because they were perceived to be too big to fail.”

Lacker pointed to how the recent bailout precedents have only enlarged this undefined safety net. In 1999, economists at the Richmond Federal Reserve Bank found that 45 percent of the liabilities in the country’s financial community “enjoyed explicit or implicit government support.”

Following the last round of bailouts, that percentage has climbed to 59.

The problem, Lacker believes, is ambiguity and “a lack of clarity.”

What policymakers can do to change this is define who is in the safety net and who is not, and to make the safety net smaller in an effort to encourage individual responsibility.

And institution failure doesn’t have quite the consequences that some feared, Lacker said. When Lehman Brothers Holdings Inc. filed for bankruptcy protection, the only firm that failed as a result was a money market investor engaged in fraudulent activity.

Lacker said bills are in both the Senate and House side of Congress now that are attempting to fix this problem, but which offer government leeway with an option for bailout funding to use at Congress’ “discretion.”

“That to me just sets up this dynamic, just perpetuates this dynamic that gave us ‘too big to fail’ to begin with, and so I think it would be a mistake,” he said.

After discussing the hows and whys of the recession, Lacker underlined his belief that economics has a positive role to play in the discussion.

“I hoped to have convinced you not to give up on economics if you ever did,” he said.

Lacker’s division of the Federal Reserve oversees Virginia, Maryland, North Carolina, South Carolina, the District of Columbia and West Virginia, except for the northern panhandle.

West Virginia's unemployment falls slightly to 10.1 percent in March

2010-04-13T14:52:00.000-04:00

CHARLESTON — West Virginia’s unemployment rate fell eight-tenths of a percentage point to 10.1 percent in March, WorkForce West Virginia has reported. The number of unemployed state residents declined 6,800 to 78,800. Total unemployment was up 18,400 over the year.

   Total nonfarm payroll employment rose 11,500, with gains of 8,000 in the service-providing sector and 3,500 in the goods-producing sector. Within the goods-producing sector, employment gains occurred among all major industries, including 2,700 in construction, 600 in manufacturing, and 200 in mining and logging.

   Employment increases within the service-providing sector were led by a gain of 3,300 in government, fueled by the addition of federal census workers to the survey. Other gains included 1,500 in leisure and hospitality, 1,100 in educational and health services, 900 in trade, transportation, and utilities, 500 in professional and business services, 400 in financial activities, 200 in other services, and 100 in information.

   Since March 2009, total nonfarm payroll employment has fallen 14,500, with losses of 10,000 in the goods-producing sector and 4,500 in the service-providing sector. Declines included 4,600 in construction, 3,900 in mining and logging, 2,700 in leisure and hospitality, 2,200 in trade, transportation, and utilities, 1,500 in manufacturing, 1,500 in professional and business services, 900 in financial activities, 600 in information, and 100 in other services.

   Employment gains included 2,000 in educational and health services and 1,500 in government.

   West Virginia’s seasonally adjusted unemployment rate was unchanged at 9.5 percent, while the national rate remained at 9.7 percent.

Business Basics Workshop Set For South Charleston

2010-04-13T14:50:00.000-04:00

CHARLESTON -- The Charleston Chapter of SCORE (Counselors to America’s Small Businesses) is taking reservations for “Start Up Basics and Business Concepts” on Saturday, April 17 at the South Charleston Public Library at 312 Fourth Avenue, South Charleston, WV, from 10:00 a.m. to 11:30 a.m. The workshop is free but pre-registration is required. Register online at www.wvscore.org or call (304) 347-5463.

“If you want to succeed in business, you’ve got to take a hard-nosed look at your business idea first,” said Tommie Brown, instructor and SCORE volunteer. “Frankly, it could be the best idea in the world, but if you can’t pay your bills doing it, then you probably shouldn’t sink any of your time and money into it.”

“This workshop is the first step in helping you to determine your next business steps,” Brown added.

The workshop is one of the four-part series Quick Start Your Business, which continues with:

• The Marketing Plan-- Saturday, May 1
• Financial Projections-- Saturday, May 15
• Funding Sources & Next Steps-- Saturday, June 5

The Quick Start Your Business workshop series is sponsored by Charleston SCORE Chapter #256 and the U.S. Small Business Administration.

WVU Maintains International Business Accreditation

2010-04-08T11:29:00.000-04:00

MORGANTOWN — West Virginia University's College of Business and Economics has maintained its accreditation for both business and accounting programs, one of only 173 schools worldwide to have the dual accreditation.

"This maintains an unbroken, 56-year streak of accreditation and shows that our faculty and students continue to perform at the highest levels," said Nancy McIntyre, the College's associate dean for academic affairs.

"This accreditation comes after an extensive review of the College just concluded this year, and validates the direction we have been moving," McIntyre said. "Our faculty has produced more articles in peer-reviewed journals, we have increased internships and have created model curricula in accounting and fraud investigation programs among other achievements."

The accreditation comes from the Association to Advance Collegiate Schools of Business, the oldest global accrediting body for business schools that offer undergraduate, masters and doctoral degrees in business and accounting.

Only 593 schools of business, or fewer than 5 percent worldwide, have earned this distinguished hallmark of excellence in management education. Of these schools, only 173 have additional specialized accreditation for their accounting programs.

To maintain accreditation both the business program and the accounting program must undergo a rigorous internal review every five years, at which the program must demonstrate its continued commitment to the 21 quality standards relating to faculty qualification, strategic management of resources, interactions of faculty and students, as well as a commitment to continuous improvement and achievement of learning goals in degree programs.

“It takes a great deal of self-evaluation and determination to earn and maintain AACSB accreditation,” said Jerry Trapnell, chief accreditation officer of AACSB International. “Schools not only must meet specific standards of excellence, but their deans, faculty, and staff must make a commitment to ongoing improvement to ensure continued delivery of high-quality education to students.”

The West Virginia University College of Business & Economics was founded in 1950 and has maintained continuous accreditation by AACSB International since 1954. The college offers a Bachelor of Science in Business Administration with five majors: Accounting, Finance, Management, Management Information Systems, and Marketing as well as a Bachelor of Science and a Bachelor of Arts degree in Economics. To further serve the University’s mission, B&E offers three University minor programs: Business Administration, Entrepreneurship, and Economics. At the Master’s level, B&E offers a Master of Business Administration, an Executive Master of Business Administration, a Master of Science in Industrial Relations, a Master of Professional Accountancy, a Master of Arts in Economics, and a Doctor of Philosophy in Economics.

To learn more about the College of Business & Economics at West Virginia University visit http://www.be.wvu.edu . Or to learn more about AACSB International accreditation, visit the accreditation section of the AACSB International Web site at: http://www.aacsb.edu/accreditation /.

Governor Releases April 'Open for Business' Report

2010-04-06T15:13:00.000-04:00

CHARLESTON — Gov. Joe Manchin has released the latest “Open for Business” report documenting the state’s economic progress. The April 2010 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.

New mineral wool plant to create up to 45 jobs in Jackson County
Armstrong World Industries has announced plans to invest $30-$35 million to build a mineral wool plant next to the former Century Aluminum Co. facility in the Jackson County Maritime and Industrial Centre in Millwood. When operational in mid-2012, the new 30,000-square-foot plant is expected to create up to 45 new jobs. Armstrong said competitive electricity rates and proximity to railroads and the Ohio River were factors that went into its selection of Millwood. Mineral wool is a raw material in the manufacture of Armstrong’s acoustical ceiling tiles. Armstrong World Industries manufactures floors, ceilings and cabinets. The company’s flooring plant in Randolph County employs nearly 700.

GST holds April 1 open house for new Innovation Lab in Marion County
The new Innovation Lab (iLab) established by Global Science & Technology (GST) opened on April 1 in the Alan B. Mollohan Innovation Center, I-79 High Technology Park, Fairmont. The iLab provides innovators with desk space, wireless network and access to experts. The focus is on projects that can produce commercial offerings in one of four areas: social and new media networks; mobile observation platforms; personalized content production; and collaborative business structures. The April 1 open house included demonstrations of innovation campaigns such as the Mobile Platform Environmental Data (MoPED) System funded by the National Weather Service; Real-time Environmental Data for Decreasing Unfavorable Concentration of Emissions (REDDUCE); and Med Wall, which provides radiologists with low-cost methods for viewing multiple images for increased collaboration and more informed diagnostics. GST has built a highly specialized work force that includes experts in key domains of engineering, science, communications and information technology. For more information, visit the GST iLab Web site ilab.gst.com.

Marion County firm fills 25 positions, recruiting for 20 more, for NOAA project
Diversified Global Partners (DGP) has filled 25 new positions and plans to recruit 20 more to support its project with the National Oceanic and Atmospheric Administration (NOAA). A joint venture firm, DGP consists of Global Science & Technology (GST) and DB Consulting Group. The partnership was created to support the NOAA-CLASS contract, valued at $200 million over the potential nine-year period of performance. Of the 25 hired so far, 16 now work at the GST facility in Fairmont. Out of that number, seven are working for GST, six for DB Consulting Group, and three for the major subcontractor Computer Science Corporation. The new staff will be added to the more than 40 people who have been supporting the NOAA/CLASS contract in Fairmont since 2000. The CLASS program supports the mission of NOAA’s Satellite and Information Service to archive and disseminate environmental data.

West Virginia small businesses receive SBA honors
Several West Virginia small business owners have been singled out as 2010 award winners by the U.S. Small Business Administration, West Virginia District Office. All the winners will be honored May 13 in Beckley by the SBA. Craig Hartzell, president of Azimuth in Morgantown, has been named Small Business Person of the Year. Jalon Petre, president of Renick Millworks in Renick, was selected as SBA Young Entrepreneur. C. Thomas & Rosemary Grant of First Choice Bookkeeping, Huntington, were designated Financial Services Champion. Diane Lewis, president of Action Facilities Management, Morgantown, was honored as Minority Small Business Champion. Kara Gray, New Horizon Consulting, was selected as Women in Business Champion.

West Virginia launches E3-WV technical assistance program for businesses
West Virginia recently introduced E3-WV, a technical assistance program to help small businesses and manufacturers improve their economic, energy and environmental performance. Three organizations headquartered at West Virginia University will work together to carry out the project. The Industries of the Future-West Virginia and the Industrial Assessment Center will provide energy assessments for industrial and commercial businesses, helping businesses to cut costs and identify energy efficiency opportunities. The West Virginia Manufacturing Extension Partnership will deliver environmental and carbon management services to industry, documenting their operations’ impact on the environment, as well as review manufacturing processes for energy and material savings.

WVEDA approves $800,000 for business loan
The West Virginia Economic Development Authority (WVEDA) approved a loan totaling $800,000 for a Hardy County company during its March meeting:
Grant County Mulch (GCM), $800,000, to establish a firewood production facility in the town of Baker. The company anticipates creating up to 42 jobs over three years. GCM produces and sells bulk and bagged mulch, wood chips, color enhanced mulch, potting soil, pine nuggets, composted leaf humus and stone.In other action, WVEDA will allocate up to $53.1 million in federal stimulus bonding authority to counties. The bond authorization legislation is known as the Recovery Zone Economic Development Bond program. County commissions have been notified that the funds are available for reallocation. The deadline for counties to apply is April 1. The deadline to issue bonds is Dec. 31.

Cost of doing business in West Virginia third lowest in U.S., Moody’s reports
The 2009 Moody’s North American Business Cost Review noted that West Virginia has the nation’s third-lowest cost of doing business. Among the factors contributing to West Virginia’s strong showing were its competitive wage rates, ranked 14th best in the nation; and its low energy costs, the second lowest in the country.

WVU research cited in ARRA Report
Research under way at West Virginia University is among the projects spotlighted as examples of the American Recovery and Reinvestment Act (ARRA) at work one year after stimulus program’s launch. ARRA is helping the College of Engineering and Mineral Industries to research better ways to rebuild the nation’s infrastructure while reducing carbon emissions and increasing West Virginia jobs. WVU’s work is among the success stories recounted in the report “American Recovery and Reinvestment Act One Year Later: Recovery Act-Funded Research Advancing Science, Aiding the Economy and Contributing to America’s Prosperous Future.” The report was produced by the coalition group ScienceWorksForUS.

Charleston rates among top five housing markets ripe for recovery
Charleston, W.Va., holds fifth place among U.S. housing markets ready for recovery, real estate expert Barbara Corcoran recently reported on NBC’s Today Show. Charleston earned its spot on the list with a low foreclosure rate, relatively low unemployment and a median home price of only $121,000.

West Virginia Development Office participates in industry exhibitions
The West Virginia Development Office (WVDO) recently exhibited at the 30th anniversary Data Center World exhibition and conference, held in Nashville, Tenn. The conference attracts attendees in data center system infrastructure, operations and maintenance, security and processing. WVDO also participated in the 31st Annual WV Construction & Design Exposition in Charleston. The event attracts companies in construction, engineering and architectural industries from across the state.

Rebuilt Welcome Center in Monongahela County hosts April 2 grand opening
Hospitality is now being dispensed from the newly-constructed I-79 Morgantown Welcome Center. The new center’s grand opening is April 2 at 1 p.m. The four tourism travel counselors had been operating from a temporary facility since 2008. In 2007, the center received 387,599 visitors.

Hospitality Cup winners to represent West Virginia in nationals
Winners were recently selected for the West Virginia Hospitality Education and Training (WV HEAT) ProStart Hospitality Cup Competition. Buckhannon-Upshur High School ranked first in management. Greenbrier East High School captured top honors in the culinary competition. The winning teams will now represent West Virginia in the culinary and management events at the National ProStart Invitational in Kansas in April.

Retired Lockheed CEO to link higher education and jobs at WVU's Festival of Ideas

2010-04-05T18:27:00.000-04:00

MORGANTOWN – Norm Augustine knows a lot about the business world, and on April 8 he will share his knowledge with the West Virginia University community.

Augustine, retired chairman and chief executive officer of Lockheed Martin Corp., will present "Want Jobs? Invest in Our Universities" as part of the 2010 David C. Hardesty Jr. Festival of Ideas at 7:30 p.m. in the Mountainlair ballrooms.

He was a member of the President's Council of Advisors on Science and Technology under Presidents Bill Clinton and George W. Bush.

Augustine was chairman and principal officer of the American Red Cross for nine years, chairman of the National Academy of Engineering, president and chairman of the Association of the United States Army, chairman of the Aerospace Industries Association and chairman of the Defense Science Board. He is also the former president of the American Institute of Aeronautics and Astronautics and the Boy Scouts of America.

He has received the National Medal of Technology and the Joint Chiefs of Staff Distinguished Public Service Award. Augustine has received the Department of Defense's highest civilian decoration, the Distinguished Service Medal, five times.

He has been awarded 23 honorary degrees and was selected by Who's Who in America and the Library of Congress as one of "Fifty Great Americans."

Augustine received his bachelor's and master's degrees in aeronautical engineering from Princeton University.

Augustine will be the sixth speaker at WVU’s 2010 David C. Hardesty Jr. Festival of Ideas. The lecture series is scheduled to feature nine events and seven outstanding professionals.

The series is supported in part by the David C. Hardesty Jr. Festival of Ideas Endowment, which was established in 2007 by the WVU Foundation, a private, nonprofit corporation that generates, receives and administers private gifts from individuals and organizations for the benefit of WVU.

To view the complete 2010 Festival of Ideas schedule, visit http://festivalofideas.wvu.edu .

SBA to offer free online training series in April

2010-04-05T18:25:00.000-04:00

WASHINGTON, D.C. — The U.S. Small Business Administration will host a Webinar series in recognition of National Financial Literacy Month during the month of April. Topics will highlight the importance of financial education and the opportunity to learn practical money skills and financial wellness. Participants will learn basic money management and financial skills for today’s business world.

Webinar presenters and topics include:

Becky MacDicken, Financial Education Specialist
Pennsylvania Office of Financial Education
Topic: The Importance of Financial Education in the Workplace
Wednesday, April 7 at 11:00 a.m.

Luke Reynolds, Chief of the Outreach & Program Development Section
Division of Supervision and Consumer Protection Community Affairs Branch
Federal Deposit Insurance Corporation (FDIC)
Topic: Basic Banking/Financial Tips for Small Business
Wednesday, April 7 at 3:00 p.m.

Jennifer Matthews, President and CEO
Creating Financial Literacy, LLC
Topic: Spring is Here! Planting Seeds to Grow Your Own Money Tree
Wednesday, April 14 at 11:00 a.m.

Starrlese Jones, Financial Management Specialist
Division of Financial Integrity, Office of Federal Assistance Management
Health Resources and Services Administration (HRSA)
Department of Health & Human Services (HHS)
Topic: Your Money, Your Choice$, Your Future
Wednesday, April 14 at 3:00 p.m.

Jennifer Lane, Certified Financial Planner
Compass Planning Associates
Topic: Personal and Business Money Management
Wednesday, April 21 at 11:00 a.m.

Margo Mitchell
National Foundation for Credit Counseling
Topic: Identity Theft
Wednesday, April 21 at 3:00 p.m.

For free visual and audio access to the Webinar go to www.ReadyTalk.com

Click “join a meeting” and enter access code 3761101

Then dial 866-740-1260 and enter access code 3761101 (plus the # key).

Justice Family Group Purchases The Resort at Glade Springs

2010-04-01T10:34:00.000-04:00

DANIELS -- Businessman Jim Justice has announced that the Justice Family Group, LLC has purchased The Resort at Glade Springs for an undisclosed price. The purchase is the second resort ownership for the Justice Family Group which purchased the world-renowned Greenbrier Resort in May 2009.

"The Resort at Glade Springs is an ideal addition to the amenities and services offered to our clientele at The Greenbrier," said Jim Justice, chairman and owner of The Greenbrier. "With this acquisition Glade Springs will become an outpost to The Greenbrier and it allows The Greenbrier to be so much closer to all the wonderful West Virginia outdoor adventures, such as rafting, skiing and ATV riding. The sister resort relationship offers both resorts the opportunity to present a broader range of options in price and quality to their many loyal guests and corporate clients."

The previous owner, EMCO Hospitality, will continue to manage Glade Springs as it has for the past six years and will continue to employ the existing staff.

"The acquisition of Glade Springs by the Justice Family Group under the leadership of Jim Justice presents tremendous opportunities for the resort," said Elmer Coppoolse, Chairman and CEO of EMCO Hospitality, Inc. "Working together, The Greenbrier and Glade Springs will increase the status of West Virginia as a destination for travelers and corporations nationwide. We are confident that the combined amenities and opportunities for recreation and meetings will be extremely attractive and competitive with other destination resorts in the country." The Greenbrier is a leader of luxury resorts around the world.

The Resort at Glade Springs is located on 4,100 acres of land 39 miles west of The Greenbrier. The resort features 203 rooms, cottages and villas, over 15,000 square feet of meeting and event space, three eighteen hole golf courses, spa, equestrian center, indoor and outdoor pools, bowling, tennis and a myriad of outdoor adventure offerings. (www.gladesprings.com )

The Greenbrier is an award-winning resort located in the Allegheny Mountains of West Virginia. As a National Historic Landmark, The Greenbrier's classic architecture, exquisite interior design, abundant scenic beauty, and outstanding amenities have hosted distinguished guests from around the world since 1778.

This renowned property offers 721 rooms, including exquisite guest and estate houses and more than 50 recreational activities including three championship golf courses, a world class casino, PGA TOUR, FedEx Cup event (July 26 - August 1, 2010), indoor and outdoor tennis courts, a 40,000-square-foot spa, along with its fabulous exclusive residential sporting club and more. (www.greenbrier.com )

10 finalists to compete April 9-10 in Statewide Collegiate Business Plan Competition

2010-04-01T10:23:00.000-04:00

MORGANTOWN — The fourth annual Statewide Collegiate Business Plan Competition will wrap up with a final round of competition among 10 finalists April 9-10 on the campus of West Virginia University.

Two $10,000 prizes will be awarded to the winners.

The field of 10 finalists includes teams from WVU, Glenville State College, Marshall University and the University of Charleston. This year’s competition will end on April 10 at the Mountainlair Student Union on the campus of WVU, where the winners in two categories will be announced—and presented $10,000 checks.

“The 10 finalist teams have a lot invested in terms of their time and effort,” said Mindy Walls, WVU Entrepreneurship Center director and the director of the Statewide Collegiate Business Plan Competition. “This year, 98 applicants from seven colleges and universities throughout the state submitted proposals to be considered for the competition. These teams carefully thought out and presented their ideas, made it through when the field was narrowed to 20 teams and now find themselves among the finalists.”

Walls said a $10,000 prize will be awarded in each of two categories, Lifestyle and Innovation. The two winning teams also receive professional business services, which they will use to build small businesses within the state. Winners receive space to run their businesses from the WVU Incubator, legal services from Spilman, Thomas & Battle and accounting services from Dixon Hughes.

The competition spans the academic year and typically begins early in the fall semester. The competition draws full-time students from four-year institutions of higher education statewide.
“These teams are very driven and believe in their prospective businesses,” said Walls. “They have worked the entire academic year preparing for this event. Each finalist team has been working with a coach from the business community to assist in planning their start-up.”

Finalists are encouraged to enroll in an online entrepreneurship course through the WVU College of Business and Economics designed to support their efforts in an academic setting.

The competition expanded to all four-year institutions statewide in 2006, with the goal of promoting entrepreneurship in higher education by providing leadership, skills training and peer support to students interested in building small businesses in West Virginia.

For more information on the Statewide Collegiate Business Plan Competition, visit the Entrepreneurship Center website at: http://www.be.wvu.edu/bpc or contact Director Mindy Walls atmfwalls@mail.wvu.edu or via phone at (304) 293-7861.

SBA offers special loan program to West Virginia counties affected by flooding

2010-03-31T08:58:00.000-04:00

WASHINGTON — Following the announcement of the Presidential disaster declaration in West Virginia for several counties affected by the severe storms, flooding, mudslides, and landslides beginning on March 12, 2010, Administrator Karen G. Mills of the U.S. Small Business Administration issued the following statement:

   “The U.S. Small Business Administration is strongly committed to providing the people of West Virginia with the most effective and customer-focused response possible to assist homeowners, renters, and small businesses with federal disaster loans. Getting our businesses and communities up and running after a disaster is our highest priority at SBA.”

   The disaster declaration covers Fayette, Greenbrier, Kanawha, Mercer and Raleigh counties in West Virginia, which are eligible for both Physical and Economic Injury Disaster Loans from the SBA. Small businesses and most private non-profit organizations in the following adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans: Boone, Clay, Jackson, Lincoln, McDowell, Monroe, Nicholas, Pocahontas, Putnam, Roane, Summers, Webster and Wyoming in West Virginia; and Alleghany, Bath, Bland, Giles and Tazewell in Virginia.

   Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible up to $40,000 to repair or replace damaged or destroyed personal property.

   Businesses and non-profit organizations of any size may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. SBA can also lend additional funds to help with the cost of making improvements that protect, prevent or minimize the same type of disaster damage in the future.

   For small businesses and most private non-profit organizations of all sizes, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage.

   Interest rates are as low as 2.625 percent for homeowners and renters, 4 percent for businesses and 3 percent for non-profit organization with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.

   To be considered for all forms of disaster assistance call the Federal Emergency Management Agency (FEMA) at 1-800-621-FEMA (3362). The locations of Disaster Recovery Centers and the loan application process can be obtained by calling the SBA Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing impaired), Monday through Friday from 8 a.m. to 6 p.m. EDT or sending an email to disastercustomerservice@sba.gov.

   West Virginia residents affected by this disaster may fill out a loan application online by visiting SBA’s secure Web site at https://disasterloan.sba.gov/ela/.

   The filing deadline to return applications for physical property damage is May 28, 2010. The deadline to return economic injury applications is December 29, 2010.

Richmond Fed President to address West Virginia business leaders April 13

2010-03-31T08:42:00.000-04:00

MORGANTOWN — Jeffrey M. Lacker, president of the Federal Reserve Bank of Richmond, will address business leaders in Morgantown at an Economic Outlook Conference on April 13.

The event will take place at the Waterfront Place Hotel the evening of April 13. A dinner is expected to begin at 6:30 p.m. and Lacker is expected to speak at approximately 7:15 p.m.

On April 14, Lacker will address West Virginia University economics and finance students.

The Richmond Fed is one of 12 banks that make up the Federal Reserve System. It serves the District of Columbia, Maryland, Virginia, North Carolina, South Carolina and most of West Virginia.

SBA Warns Small Businesses of Fraudulent Attempts Offering to Help Them Secure SBA Loans

2010-03-30T11:24:00.000-04:00

WASHINGTON – The U.S. Small Business Administration (SBA) is warning small businesses to use caution if they are contacted by firms offering to help them apply for funds available through SBA programs.

SBA and SBA’s Office of the Inspector General (SBA OIG) have received several complaints from small businesses about abusive marketing practices, scams, and exorbitant fees charged by firms offering to help them obtain a loan, grant, or other federal funds, from SBA.

Some of these complaints include:

• Firms charging small businesses high fees to provide assistance applying to SBA funding programs. Some firms allegedly guaranteed that the small business would obtain SBA funding if they paid the fee. SBA does not endorse or give preference to specific private companies or their clients.

• Firms charging small businesses for services never requested after the small business gave bank account and routing information to a caller claiming to be a firm offering assistance. SBA recommends that small businesses never provide social security numbers, bank account information, or credit card numbers to anyone; and, never over the telephone.

• Firms alleging that a small business would be issued a “forfeiture letter” that would make the small business ineligible for any SBA funding for three years if the small business refused to use the firm’s services.

When electing to use a third party to apply for SBA funding programs, small businesses should also bear in mind:

• Small businesses can get free assistance in person or by calling one of SBA’s 68 District Offices and from information on SBA’s Web site (www.sba.gov ). They can also get assistance from Small Business Development Centers, Women’s Business Centers, Veterans Business Outreach Centers and SCORE Chapters, either free or for a reasonable fee. Location and contact information for the centers can be found on SBA’s Web site.

• Small businesses should ask for references and confer with trusted colleagues and institutions, such as the Better Business Bureau, when selecting service providers.

• Small businesses should clearly establish and document: 1) What they are being charged; 2) When they will be charged; 3) What they must do; and 4) What services they will receive.

SBA’s Office of the Inspector General will investigate and respond to all complaints. SBA encourages anyone with knowledge of a misrepresentation regarding SBA Business Loan Programs, or any other SBA program, to contact SBA OIG by calling the OIG Hotline toll-free at (800) 767-0385, or submitting an online report at the SBA OIG Web page (www.sba.gov/ig ), and click the link for “Report Fraud Waste or Abuse.”

Disney Institute coming to Huntington May 18

2010-03-30T11:21:00.000-04:00

HUNTINGTON – Disney Institute is bringing its renowned professional development program, “Disney’s Approach to Business Excellence,” to Huntington on May 18. Sponsored locally by Marshall University, the full-day event will give area professionals an opportunity to “experience the business behind the magic.”

The program will bring the best of Disney Institute content to the Don Morris Room in the Memorial Student Center on Marshall’s Huntington campus.

“This is a convenient way to experience Disney Institute programs in local business communities,” said Jeff James, vice president for Disney Institute. “Our programs teach easily-adaptable strategies and best practices that have been part of our company for more than 80 years.”

The full-day “Disney’s Approach to Business Excellence” program introduces participants to five core Disney business principles:

Disney’s Approach to Inspiring Creativity – Focused on strategies and tactics that have helped Disney maintain its creative and innovative culture in good times and bad, this program can help other organizations be equally successful.

Disney’s Approach to Leadership Excellence -- Strong leadership is fundamental for organizations to grow and succeed. Participants will explore strategies and methods for improving team results through proven leadership philosophies that are used to exhibit the values and behaviors that generate results.

Disney’s Approach to People Management – The Disney corporate culture instills pride and ownership in Disney Cast Members (employees). The same can be true for any organization looking to inspire and motivate employees. Participants explore the Disney approach to selection, training, retention, and communication, all of which sustain a supportive and interactive culture.

Disney’s Approach to Quality Service – In an era where everyone is competing for business and market share, excellent customer service isn’t a luxury, it is mission critical. Participants discover how Disney exceeds expectations through its service infrastructure, ongoing research, and established service standards.

Disney’s Approach to Brand Loyalty – The relationship between consumer experiences and a company’s brand is vital and can generate superior bottom-line results. Participants explore strategies that deliver on an organization’s brand and retain customers for life.

Program registration fee includes all course materials plus catered breakfast, breaks, and lunch. Group discounts are available.

For more information and to register for the Disney’s Approach to Business Excellence program, call 877-544-2384 ext. 1 or visit www.KeysHuntington.com .

Nearly all West Virginia counties report increased unemployment

2010-03-30T11:19:00.002-04:00

CHARLESTON — West Virginia's unemployment rate climbed six-tenths of a percentage point to 11.0 percent in February 2010. Nearly all counties reported rising unemployment rates as well.

The number of counties recording an unemployment rate considered much worse than average when compared to the state rate was unchanged in February. This group included Grant (17.2), Wetzel (17.7), Wirt (18.0), Clay (18.0), Roane (18.3), and Calhoun (22.6).

The number of counties recording an unemployment rate considered better than average when compared to the state rate grew slightly in February. This group included Boone (9.1), Marion (9.1), Kanawha (9.0), Putnam (9.0), Cabell (8.9), and Jefferson (8.2).

Once again, Monongalia (6.1) was the sole county recording an unemployment rate considered much better than average when compared to the state rate.

Armstrong World Wide Industries to build new plant near Ravenswood

2010-03-19T14:54:00.000-04:00

MILLWOOD – Gov. Joe Manchin today announced that Armstrong World Industries is creating 40 to 45 permanent jobs by investing $30 to $35 million to build a state-of-the-art mineral wool plant on property adjacent to Century Aluminum Co.

Mineral wool is a key raw material used in the manufacture of Armstrong’s acoustical ceiling tiles. The new plant will be an addition to the Jackson County Maritime and Industrial Centre in Millwood, W.Va.

   Armstrong chose the Millwood site because of competitive electricity rates and its central location, which is easily accessible to raw material suppliers and other Armstrong ceiling manufacturing locations. The 30,000-square-foot plant will be built on about 18 acres and is scheduled for start-up in mid-2012.

   While building the plant will also create temporary construction jobs, Armstrong will begin the hiring process for its manufacturing operations about one year before the plant is scheduled to open, with training programs for new hires.

   Michael J. Connors, vice president, Finance – Armstrong Building Products, said, “The West Virginia Development Office and Governor’s Office have been instrumental in helping us understand the opportunity and value of locating our plant in Jackson County. We are confident this is the right place to build our new plant, and we are looking forward to getting started and building a bright future here in West Virginia.”

   Armstrong also operates a flooring plant in Beverly, W.Va., that employs nearly 700.

   Armstrong World Industries Inc. is a global leader in the design and manufacture of floors, ceilings and cabinets. In 2009, Armstrong’s consolidated net sales totaled approximately $2.8 billion. Based in Lancaster, Pa., Armstrong operates 36 plants in nine countries and has approximately 10,800 employees worldwide.

Capito joins newly formed Reclaim American Jobs Caucus

2010-03-19T14:52:00.000-04:00

WASHINGTON—U.S. Rep. Shelley Moore Capito, R-W.Va., today announced she will join a newly-formed, bipartisan Congressional caucus that will focus on putting millions of Americans back to work. The Reclaim American Jobs Caucus, a 40 Member, bipartisan caucus headed by Reps. Lamar Smith (R-TX), Sue Myrick (R-NC) and Gary Miller (R-CA), will work to highlight the link between illegal immigration and record unemployment in the United States.

“I’m happy to join my colleagues on both sides of the aisle to get unemployed Americans back to work,” remarked Capito. “In these challenging economic times, many West Virginians are struggling with job loss. We must ensure that the limited jobs available go to those who can legally work in this country.”

Currently, 15 million Americans are unemployed, including 86,400 West Virginians, while an estimated 8 million illegal immigrants are employed.

“Through enforcement of existing immigration laws, increased worksite enforcement and use of E-verify by employers, we can ensure that lawful American citizens are not competing with illegal immigrants in our job market.”

State Tax Commissioner announces he is stepping down

2010-03-18T16:06:00.000-04:00

CHARLESTON – After nine years with the West Virginia Department of Revenue, Tax Commissioner Christopher Morris announced today that he is stepping down at the end of this month.

Morris, who joined the Department of Revenue in August 2001, has served in numerous capacities including deputy cabinet secretary and deputy tax commissioner. He was named state tax commissioner by Gov. Joe Manchin in October 2007.

   Manchin said Morris has been a great asset and a dedicated public servant during his time in the Department of Revenue. “Chris has done a tremendous job leading our Tax Modernization Project and changing the business processes at the Tax Department, which will result in better taxpayer services to the citizens of West Virginia,” the governor said.

   Morris said, “While I am looking forward to my transition into the private sector, I will miss working with the great people in the Tax Department. Working with this agency and with this governor has been very rewarding. There are many wonderful people in the Department of Revenue diligently working on a daily basis to make a positive impact for all West Virginians.”

   Manchin will appoint Craig Griffith, current deputy tax commissioner, as acting tax commissioner. Virgil Helton, secretary of the Department of Revenue, said, “Craig has been with the Tax Department for nearly three years and prior to that he practiced law at a local firm in the areas of state and local tax, municipal bonds and corporate law. He will do an outstanding job building on the success we have had in the Department of Revenue.”

WVU forecast shows Morgantown will see growth in 2010

2010-03-18T10:16:00.000-04:00

MORGANTOWN – Job growth in the Morgantown metropolitan area will rebound this year after unusually slow gains in 2009, according to a new forecast released today at the Morgantown Economic Outlook conference.

The annual conference was sponsored by the West Virginia University Bureau of Business and Economic Research in the College of Business and Economics.

“The Morgantown area economy came through the global downturn during 2008-09 in good shape,” said George W. Hammond, associate director of the BBER. “Local job growth is likely to continue this year and beat both the state and national rates again in 2010.”

The metropolitan area includes Monongalia and Preston counties. Morgantown added jobs at a 0.7 percent rate in 2009, which far outpaced the massive job losses posted by both the state (-2.6 percent) and the nation (-4.3 percent).

“Overall, Morgantown has remained remarkably robust in the face of a severe global and national downturn, but the area did not escape unscathed,” Hammond said. “Indeed, Morgantown’s job growth in 2009 was far below growth in 2008, of 2.2 percent.”

In addition, he said, the local unemployment rate surged from 2.9 percent in 2008 to 5.1 percent in 2009. However, that remains well below the state rate of 7.9 percent and the national rate of 9.3 percent.

The outlook calls for the Morgantown Metropolitan Statistical Area to generate stronger job growth in 2010, as the national economy gradually rebounds. Local job growth is forecast to average 1.7 percent per year during the 2009-14 period, which is far above expected state growth (0.7 percent per year) and just above expected national growth (1.5 percent per year).

Job growth in Morgantown is forecast to be strongest in service-providing sectors, such as health care; government; professional and business services; leisure and hospitality; and trade, transportation and utilities, he said.

Continued job growth means that the Morgantown unemployment rate will likely gradually fall during the forecast period. Job gains also contribute to continued inflation-adjusted income growth, with the Morgantown MSA expected to post faster growth than the state. The Morgantown MSA is also expected to continue to add residents during the next five years, at rates far above the state average, Hammondsaid.

Full details are available in the Morgantown MSA forecast publication, which is available online at www.bber.wvu.edu .

West Virginia's unemployment rate rose to 11 percent in February

2010-03-16T15:35:00.000-04:00

CHARLESTON — West Virginia’s unemployment rate climbed six-tenths of a percentage point to 11.0 percent in February, WorkForce West Virginia has reported. The number of unemployed state residents rose 5,000 to 86,400. Total unemployment was up 25,400 over the year.

Total nonfarm payroll employment rose 400, where a gain of 2,200 in the service-providing sector narrowly offset a decline of 1,800 in the goods-producing sector. Within the goods-producing sector, construction employment plunged 2,000. Gains of 100 occurred in both manufacturing and mining and logging. Employment increases within the service-providing sector were led by a seasonal gain of 2,600 in government.

Other gains included 500 in professional and business services, 300 in other services, and 200 in leisure and hospitality. Employment declines included 700 in trade, transportation, and utilities, 500 in educational and health services, 100 in financial activities, and 100 in information.

Since February 2009, total nonfarm payroll employment has fallen 22,600, with losses of 13,500 in the goods-producing sector and 9,100 in the service-providing sector. Declines included 5,900 in construction, 4,300 in mining and logging, 3,500 in trade, transportation, and utilities, 3,300 in manufacturing, 2,800 in leisure and hospitality, 2,200 in professional and business services, 1,400 in financial activities, 700 in information, and 400 in other services. Employment gains included 1,700 in educational and health services and 200 in government.

West Virginia’s seasonally adjusted unemployment rate climbed three tenths of a percentage point to 9.5 percent, while the national rate remained at 9.7 percent

Huntington National Bank Named West Virginia’s Top SBA Small Business Lender

2010-03-10T09:01:00.002-05:00

CLARKSBURG – Judy McCauley, District Director of the U.S. Small Business Administration’s West Virginia District Office recently announced that Huntington National Bank has been selected as the Top SBA Lender in West Virginia for the third consecutive year.

   Huntington National Bank, through SBA’s guaranteed loan programs, provided funding for 30 small businesses for just over $4 million. The 30 loans represented nearly 20 percent of the total West Virginia SBA guaranteed loan volume for fiscal year 2009.

   Stephanie Ellingson, SBA Product Specialist for Huntington National Bank stated: “Huntington is very proud to be West Virginia’s top SBA Lender as SBA lending is an integral part of Huntington’s growth strategy. We firmly believe that small businesses are the engine for our economic recovery and future job growth. Our SBA lending numbers in West Virginia are direct results of Huntington’s recent $4 billion small business lending commitment over the next three years. We look forward to increasing our SBA production in West Virginia in 2010.”

   “We at the West Virginia District Office are proud to recognize Huntington National Bank for their outstanding accomplishments in providing capital to the West Virginia small business community this and the past two years,” said McCauley. “We greatly appreciate the support Huntington has demonstrated for West Virginia’s entrepreneurs when it is most needed and for using SBA’s guaranty loan program.”

   Selected as West Virginia’s Community Bank of the Year for 2010 was Wheeling-based Main Street Bank. Both Huntington National Bank and Main Street Bank and their respective representatives will be recognized at the 2010 Small Business Lending Conference at Seven Springs Mountain Resort on Thursday, March 12, 2010.

Main Street Bank named West Virginia's Top SBA Community Lender

2010-03-10T08:58:00.000-05:00

   CLARKSBURG, W.VA. – Judy McCauley, District Director of the U.S. Small Business Administration’s West Virginia District Office recently announced Main Street Bank, headquartered in Wheeling, as the Top SBA Community Bank in West Virginia for fiscal year 2009.

   Main Street Bank, through SBA’s guaranteed loan programs, provided funding for 26 small businesses for nearly $1.7 million. The 26 loans represented nearly 17 percent of the total West Virginia SBA guaranteed loan volume for the period of October 1, 2008 through September 30, 2009.

   Since the signing of the Recovery Act on February 17, 2009, Main Street Bank has used SBA’s loan guarantee to fund 43 small businesses for a total of $2.85 million as of February 24, 2010. They are also the top producer of SBA’s America’s Recovery Capital (ARC) loans in West Virginia having provided 31 small businesses with ARC loans through March 1, 2010 and are “unofficially” credited for making the first ARC loan in the United States.

   Rich Lucas, President of Main Street Bank stated, “Being a community bank, we have been keenly aware of what jobs mean to our area. With the help of the SBA directly through their various loan programs, we have been able to verify 200 jobs were saved or created in the Wheeling area during 2009. The outreach and support from the SBA office has been terrific, and although 2009 was a banner year for us in SBA lending, we have always used SBA resources since our beginnings in 2001. Their programs and services offer a tremendous value for keeping customers in business and people employed.”

   “The West Virginia District Office is proud to be able to recognize Main Street Bank for their outstanding accomplishments in providing capital to the West Virginia small business community,” said McCauley. “Since their creation in 2001, they have always been a strong supporter of entrepreneurship and continue to be a leader among community banks in West Virginia. Their use of SBA’s guaranty loan programs has been unmatched.”

   Selected as West Virginia’s Top Small Business Lender of the Year for 2010 was Huntington National Bank. Both Main Street Bank and Huntington National Bank and their respective representatives will be recognized at the 2010 Small Business Lending Conference at Seven Springs Mountain Resort on Thursday, March 12, 2010.

Unemployment up in every West Virginia county in January

2010-03-10T08:56:00.000-05:00

CHARLESTON - West Virginia's unemployment rate jumped nearly two percentage points to 10.5 percent in January 2010. All counties reported rising unemployment rates as well.

The number of counties recording an unemployment rate considered much worse than average when compared to the state rate declined slightly in January. This group included Grant (15.9), Wirt (16.2), Clay (16.5), Wetzel (16.8), Roane (16.8), and Calhoun (21.3).

The number of counties recording an unemployment rate considered better than average when compared to the state rate was unchanged in January. This group included Cabell (8.7), Kanawha (8.6), Marion (8.5), Putnam (8.2), and Jefferson (7.8).

Once again, Monongalia (5.8) was the sole county recording an unemployment rate considered much better than average when compared to the state rate.

2010 West Virginia Small Business Award Winners Announced

2010-03-08T14:33:00.000-05:00

CLARKSBURG – Judy K. McCauley, director of the U.S. Small Business Administration’s West Virginia District Office today announced the 2010 West Virginia Small Business award recipients.

Selected as West Virginia’s 2010 Small Business Person of the Year is Craig W. Hartzell, president of Azimuth, Incorporated headquartered in Morgantown, W.Va. As West Virginia’s top small business person, Hartzell will be competing against entrepreneurs from every state, the District of Columbia, Puerto Rico, and Guam for the title of National Small Business Person of the Year during SBA’s 47th Annual National Small Business Week event in Washington D.C. on Tuesday, May 25, 2010.

   Other top West Virginia entrepreneurs and small business champions selected include as the 2010 SBA Young Entrepreneur, Jalon “Jay” Petre, president of Renick Millworks, LLC located in Renick, W.Va.

   Thomas and Rosemary Grant, owners of First Choice Bookkeeping, Inc. of Huntington have been selected as the 2010 Financial Services Champion.

   West Virginia’s 2010 Minority Small Business Champion is Diane Lewis, president of Action Facilities Management based in Morgantown, W.Va.

   Kara Gray, owner of New Horizon Consulting in Dallas, W.Va. has been named as the 2010 Women in Business Champion for West Virginia.

   West Virginia’s Jeffrey Butland Family-Owned Small Business for 2010 is L.J. Hughes & Sons, Inc. in Summersville, W.Va. The firm is in its third generation of family ownership with brothers David M. Hughes, and John M. Hughes along with cousin Fletcher G. Herold, Jr. overseeing daily operations of the business. The company not only was chosen as West Virginia’s top Family-Owned small business, but was also selected as the Regional Award Recipient for SBA’s Region III which encompasses the states of Delaware, Maryland, Pennsylvania, Virginia, West Virginia, and the District of Columbia.

   And finally, chosen as West Virginia’s 2010 Small Business Exporter is Scott M. Hedges, president and Michael J. Grady, vice president of Power Sonix, Inc. located in Martinsburg, W.Va.

   These top entrepreneurs and small business champions will be honored during West Virginia’s 2010 Small Business Awards Celebration on Thursday, May 13, 2010 at the Tamarack Conference Center in Beckley, W.Va.

The celebration will be hosted by the West Virginia Women’s Business and Training Center and is set to run from noon until 2:00 p.m. on May 13. Cost is $40 per person. To register, contact Karen Jones at (800) 766-4556, via email at kjones@westvirginiawbc.org , or register online at www.westvirginiawbc.org .

Rockefeller introduces legislation to suspend EPA action on greenhouse gases

2010-03-04T15:51:00.000-05:00

WASHINGTON, D.C. — U.S. Sen. Jay Rockefeller, D-W.Va., today introduced legislation to suspend potential Environmental Protection Agency (EPA) regulation of greenhouse gases from stationary sources for two years.

“Today, we took important action to safeguard jobs, the coal industry, and the entire economy as we move toward clean coal technology,” said Rockefeller. “This legislation will issue a two year suspension on EPA regulation of greenhouse gases from stationary sources—giving Congress the time it needs to address an issue as complicated and expansive as our energy future. Congress, not the EPA, must be the ideal decision-maker on such a challenging issue.

“Two weeks ago, I sent a letter to EPA Administrator Lisa Jackson challenging EPA’s potential regulation of greenhouse gases. Administrator Jackson responded quickly and showed some willingness to move the agency’s timetable for regulation to the end of 2010. This is a positive change and good progress, but I am concerned it may not be enough time. We must set this delay in stone and give Congress enough time to consider a comprehensive energy bill to develop the clean coal technologies we need. At a time when so many people are hurting, we need to put decisions about clean coal and our energy future into the hands of the people and their elected representatives, not a federal environmental agency.”

Congressman Nick Rahall (D-WV) is introducing the House of Representatives companion legislation, with Reps. Alan Mollohan (D-WV) and Rick Boucher (D-VA) as cosponsors.

“I am dead-set against the EPA’s plowing ahead on its own with new regulations to limit greenhouse gas emissions from coal-fired power plants,” Rahall said. “This is reasonable and responsible legislation that will protect a vital industry – coal – and essential jobs for West Virginia and the Nation.”

“EPA must be stopped from moving further down this very dangerous road – one that would throw West Virginians out of work and increase energy prices for all Americans,” Mollohan said. “Climate change will remain deeply controversial, but our approach is the only one that has a chance of bringing all sides together to stop what most everyone agrees is a very bad idea – EPA pushing ahead with its own regulations.”

“EPA regulation of greenhouse gases would be the worst outcome for the coal industry and coal related jobs,” Boucher said. “Our bill is a responsible, achievable approach which prevents the EPA from enacting regulations that would harm coal and gives Congress time to establish a balanced program.”

In 2007, the U.S. Supreme Court ruled that greenhouse gases like carbon dioxide could be considered pollutants and gave the EPA the power to regulate them under the Clean Air Act. In the absence of legislation, the EPA has the power – and is legally mandated by the Supreme Court – to step in and address carbon emissions.

In response to that court mandate, the EPA has plotted a course for regulating carbon emissions from vehicles and stationary sources. Accordingly, the plan for stationary sources would hit large emitters – like coal-burning power plants – up front, while smaller emitters would be addressed later.

To address the near-term challenges to coal posed by the planned EPA regulation, Rahall, Mollohan, and Boucher are proposing a two-year suspension of EPA’s regulatory authority for stationary sources.

The legislation has received the support of the United Mine Workers of America.

Petroleum Development Corporation reports net loss in 2009

2010-03-04T15:33:00.000-05:00

DENVER -- Petroleum Development Corporation today reported its 2009 fourth-quarter and year-end operating and financial results.

The company reported a net loss attributable to shareholders for the year ended December 31, 2009, of $79.3 million, or $4.82 per share, compared to a net gain of $113.3 million, or $7.63 per diluted share, for the same prior year period. The company's adjusted net loss attributable to shareholders for the year ended 2009 was $2.9 million, or .18 per share, compared to adjusted net income of $39.7 million, or $2.67 per diluted share, for the year ended 2008.

The net loss attributable to shareholders in the fourth-quarter 2009 was $16.0 million, or .84 per share, while net income for the same period ended December 31, 2008 was $41.1 million, or $2.78 per diluted share. The adjusted net loss for the fourth-quarter was .7 million or .04 per share compared to an adjusted net loss for the same period in 2008 of $4.3 million or .29 per share.

Annual production for the year ended December 31, 2009 increased 11.8% to 43.3 Bcfe, compared to 38.7 Bcfe in 2008. Production growth in 2009 was 100% organic from the development of existing core operating areas. Fourth-quarter 2009 production decreased 8.3% to 10 Bcfe compared to third-quarter 2009 production of 10.9 Bcfe, and decreased 11.4% compared to the fourth-quarter 2008 production of 11.3 Bcfe. The decrease was a result of the Company's capital expenditure reduction in 2009. During 2009, the Company drilled 79.2 total net wells compared to 333.4 total net wells drilled in 2008. The 2009 total was comprised of 71.2 net development wells drilled and 8.0 net exploratory wells drilled.

Adjusted cash flow from operations, a non-GAAP measure defined below, decreased to $170.2 million for the year ended 2009 compared to $199.9 million in 2008, a decrease of 14.9%. Adjusted cash flow from operations for the fourth-quarter 2009 was $55.5 million, compared to the same period in 2008 of $41.2 million, an increase of 34.7%.

Total proved reserves as of December 31, 2009 were 717 Bcfe compared to 753 Bcfe of total proved reserves reported at the end of 2008. New SEC reserve guidelines stipulate the adoption of several changes to the methodology utilized to quantify year-end reported reserves. The change in pricing from a year-end spot price to a 12-month average price had the most significant impact on the year-over-year reduction in the company's year-end 2009 reported reserves. Reserve values in 2009 were based on an average natural gas price of $3.17/Mcf and an average oil price of $54.64/Bbl, versus an average year-end spot natural gas price of $4.98/Mcf and a year-end spot average oil price of $37.85/Bbl in 2008. Using year-end spot pricing methodology, as was used at year-end 2008, reserve values would have been valued at $5.51/Mcf for natural gas and $72.91/Bbl for oil on December 31, 2009, and reported reserves would have been 811 Bcfe. At year-end 2009, natural gas and oil represented approximately 84.9% and 15.1% of proved reserves, respectively. Additionally, approximately 41.2% of the proved reserve total was developed and approximately 58.8% was undeveloped.

Petroleum Development Corporation (www.petd.com ) is an independent energy company engaged in the development, production and marketing of natural gas and oil. Its operations are focused in the Rocky Mountains with additional operations in the Appalachian Basin and Michigan. PDC is included in the S&P SmallCap 600 Index and the Russell 3000 Index of Companies.

WorkForce West Virginia receives $1.9 million broadband grant

2010-03-04T15:27:00.002-05:00

CHARLESTON — The U.S. Department of Commerce’s National Telecommunications and Information Administration (NTIA) today announced a $1.9 million Recovery Act investment to enhance and expand public-use computers, connection speeds and wireless capabilities at 20 WorkForce West Virginia One Stop field offices across the state.

Funds will bridge the technology gap and increase economic opportunities for the unemployed or disabled, veterans, youth, older adults and low-income individuals in West Virginia.

   Although One Stop locations have existing computer equipment, most lack the resources to offer a modern computer center or the ability to provide a true broadband Internet experience.

   “Broadband technology is a must-have career tool,” said Russell Fry, acting executive director for WorkForce West Virginia. “Funding will allow us to replace all of the existing computer workstations at the centers, add new workstations and serve almost 2,300 additional users per week, nearly doubling current traffic.”

   WorkForce West Virginia will purchase new equipment for each center, upgrade to faster broadband connections and add video conferencing at each site. Upgrades will give clients the opportunity to improve existing skills, learn a new skill and find jobs.

   This is the second grant awarded to West Virginia by the U.S. Department of Commerce for broadband development in recent weeks. Last month, a $126 million award was announced that will take the state’s technology infrastructure to a new level, particularly for the more rural parts of West Virginia.

WorkForce West Virginia is a network of work force development services designed to provide West Virginia's citizens and employers the opportunity to succeed in today’s competitive global economy. For more information, visit www.workforcewv.org .

WVU receives $14.5 million in federal funding for new animal facility annex

2010-03-04T14:52:00.000-05:00

WASHINGTON, D.C. – West Virginia University has received more than $14.5 million in American Recovery and Reinvestment Act (ARRA) funding for the construction of a new animal research facility annex at West Virginia University (WVU). The funding is being made available as a research facilities construction grant within the Department of Health and Human Services’ National Center for Research Resources.

WVU will use the funds to construct a 22,000-square-foot building, adjacent to the Robert C. Byrd Health Sciences Center, to meet the infrastructure needs of current and future biomedical researchers who use laboratory animals. The new facility will include modern animal housing space, with independent air handling and other biosafety features. The grant will help the Health Sciences Center (HSC) move forward with a long-term strategic plan for developing research facilities and expanding research programs in cancer, neurosciences and other areas of biomedical research.

It complements the new laboratory space that has already been constructed on campus, including the Erma Byrd Biomedical Research Center, completed in 2008. The new vivarium will provide current and future researchers with a core facility for animal-related activities. The building is the second phase of a project to replace the HSC’s original animal quarters, built in 1957, which are inadequate to meet modern standards for the care and use of research animals. The first phase is currently under construction.

According to WVU officials the new facility is expected to result in 253 additional permanent jobs on the WVU campus, including 13 directly in the animal quarters and 240 in biomedical research laboratories around the Health Sciences Center. During construction, the project will add 113 jobs to the local community.

WVU graduate donates $1 million to his alma mater for engineering research

2010-03-04T09:34:00.000-05:00

MORGANTOWN -- George Bennett, a West Virginia University graduate who founded four successful businesses and reshaped the practice of management consulting, has contributed $1 million to his alma mater.

The gift will be used to support research in energy, nanotechnology, biomedical sciences, and biometrics in WVU’s College of Engineering and Mineral Resources, and is eligible for matching funds from the West Virginia Research Trust Fund.

“This gift reflects the gratitude I feel for the excellent foundation I received at West Virginia University,” said Bennett, “and my confidence in the future of the University, the College of Engineering and Mineral Resources, and the state of West Virginia.”

WVU President James P. Clements said, "George Bennett has been a generous friend and advisor to his alma mater over the years, and his latest gift to support research in areas important to our state, nation and world -- such as energy, nanotechnology, biomedical sciences, and more -- will help advance WVU's work and discoveries in these areas."

   Bennett earned his bachelor’s degree in industrial engineering from WVU in 1967 and master’s and doctoral degrees in industrial administration from Carnegie Mellon University in 1971. In 1982, he was inducted into the WVU Academy of Industrial Engineers. In January, he was inducted into the WVU Academy of Distinguished Alumni.

   Bennett launched his entrepreneurial career in 1973 as a co-founder of Bain & Co., a large, top-tier international consulting firm whose clients have historically outperformed the stock market by four to one. The company has offices in 27 countries on five continents.

   In 1976, Bennett founded Braxton Associates, Inc., a boutique strategy consulting firm with a reputation for innovation and creativity. The firm was acquired in 1984 by Deloitte Touche Tohmatsu International, one of the world’s largest professional service firms.

   In 1985, Bennett co-founded Symmetrix, Inc., a consulting firm that developed extensive system integration and re-engineering capabilities. He served as its chairman and chief executive officer from 1985 to 1996. In 1996, the firm was sold to Nextera Enterprises.

   Bennett served as an important adviser to David C. Hardesty during his tenure as president of WVU from 1995 to 2007, sharing his management consulting expertise to help the University develop best practices and propel it forward.

   Bennett and Chris McKown founded Health Dialog in 1997. The firm provides analytic services for health-care payers and telephonic and Web support to patients. The firm is well known for the scale of its databases and the sophistication of its analytic techniques. Bennett served as both CEO and chairman of the board until 2008, when the firm was sold.

   Bennett spent a year in Washington in the early 1980s as a member of the Grace Commission, created by President Ronald Reagan to bring state-of-the-art business practices to the federal government. Bennett has remained active in Washington and has been an active participant in the ongoing debate regarding health reform.

   The West Virginia Research Trust (RTF), passed by the State Legislature in 2008, provides $35 million in state funds for research at WVU, provided the University can raise an equivalent amount in private contributions within five years. RTF funds support research in energy, nanotechnology, bio-sciences and/or biometrics.

   The gift was made through the WVU Foundation, a private non-profit corporation that generates and provides support for West Virginia University.

Tri-State Airport to receive $900,000 federal grant for new connector taxiway

2010-03-03T14:42:00.000-05:00

HUNTINGTON — Tri-State Airport in Huntington, W.Va. will receive $906,838 in federal funding to move forward with construction of a new connector taxiway to serve general aviation growth.

   “This is important for southern West Virginia,” said U.S. Rep. Nick Rahall, who is Vice-Chairman of the House Transportation and Infrastructure Committee. “This money supports a capacity project that will create opportunities for business development and expand our regional economy.”

   The airport funding was awarded through the FAA’s Air Improvement Program (AIP), which provides significant funding to local airports, helping them expand airport runways and improve facilities. This grant is part of an effort to fund key infrastructure projects at airports across West Virginia and the nation.

   “This is really good news and we greatly appreciate the opportunity to have this funding,” said Jerry Brienza, Tri-State Airport Director. “Congressman Rahall is a great supporter of our airport and we so appreciate all that he does for us.”

   “Investments in infrastructure projects, like our airports, are central to the American way of life, but critically essential to the health and well-being of southern West Virginia’s economy,” said Rahall. “This is this kind of project that re-opens our plants doors, and gets our industries cranking and will pay dividends not only now, but for generations.”

   This grant will provide federal funding to convert an outdated and unused runway into a new connector taxiway that will provide access to the airport’s south apron and future hanger development area, facilitating growth and development of general aviation services.

SBA, SCORE to host free webinar on social media marketing

2010-03-03T14:18:00.000-05:00

   CHARLESTON – The U.S. Small Business Administration and West Virginia SCORE, Counselors to America’s Small Businesses, is sponsoring the free webinar “Social Media Marketing for Small Business” from Noon to 1 p.m. on Friday, March 12, 2010 and on Friday, April 9, 2010. Registration is available online at www.wvscore.org or by calling (304) 347-5220.

   Social media has exploded as an inexpensive and highly effective way for small businesses to reach out and interact with customers. This webinar provides participants with an overview of business uses for Facebook, Twitter, LinkedIn, and blogging.

   Kara Gray of New Horizon Consulting is the presenter. Interested business owners can participate in the training without leaving the comfort of their own office. All that is needed is a telephone and a computer.

Conference to examine Morgantown area's economy

2010-03-03T14:16:00.003-05:00

MORGANTOWN -- The Morgantown Economic Outlook Conference, Wednesday, March 17, from 8 a.m. to noon at the Waterfront Place Hotel, will examine the area’s economic performance and outlook and the future of the global economic crisis.

Morgantown has continued to grow during the past year, in contrast to huge job losses for the state and nation, but the pace of local job growth has dropped significantly. Presentations at the conference will consider the economic outlook for 2010 and beyond and contrast local prospects with forecasts for the state and nation.

   The conference, presented by the WVU College of Business and Economics, will closely examine the national economic slowdown and what it means for job, population and income levels in the Morgantown metropolitan area, which includes Monongalia and Preston counties.

   Dr. James P. Clements, WVU president, will provide the opening remarks. The conference will feature economists Dr. George Hammond of the University’s Bureau of Business and Economic Research and Dr. Nigel Gault of IHS Global Insight, an international economic forecasting firm. Economic forecasts and analysis of the Morgantown Metropolitan Statistical Area for the next five years will be distributed at the event.

   Other speakers at the conference include Charles W. Huguenard (vice president and general manager, Longview Power), Corky DeMarco (executive director, West Virginia Oil and Natural Gas Association) and Parry Petroplus (president, Petroplus and Associates, Inc.). Registration costs $40 per person ($55 after March 12). Student registration is $20 with ID. To register visit www.be.wvu.edu or call 304-293-7831.

West Virginia's unemployment rate rises to 10.5 percent in January

2010-03-02T08:58:00.000-05:00

CHARLESTON — West Virginia’s unemployment rate jumped nearly two percentage points to 10.5 percent in January, WorkForce West Virginia has reported. The number of unemployed state residents rose 15,300 to 82,400. Total unemployment was up 29,600 over the year.

Total nonfarm payroll employment declined 22,300, with losses of 5,800 in the goods-producing sector and 16,500 in the service-providing sector. Within the goods-producing sector, losses were led by a seasonal decline of 4,500 in construction. Other losses included 600 in mining and logging and 700 in
manufacturing. Declines within the service-providing sector were driven by seasonal losses of 5,300 in trade, transportation, and utilities and 4,700 in government. Other declines included 2,800 in leisure and hospitality, 1,500 in educational and health services, 1,400 in professional and business services, 700 in financial activities, and 100 in information. Employment in other services was unchanged over the month.

Since January 2009, total nonfarm payroll employment has fallen 23,000, with losses of 13,900 in the goods-producing sector and 9,100 in the service-providing sector. Declines included 5,200 in mining and logging, 4,900 in manufacturing, 4,600 in trade, transportation, and utilities, 3,800 in construction, 3,100 in leisure and hospitality, 2,600 in professional and business services, 1,600 in financial activities, 800 in information, and 800 in other services. Employment gains include 3,300 in educational and health services and 1,100 in government.

West Virginia’s seasonally adjusted unemployment rate climbed three-tenths of a percentage point to 9.3 percent, while the national rate declined three-tenths of a percentage point to 9.7 percent.

US Airways magazine to profile West Virginia in May 2010 Travel Feature

2010-02-26T14:39:00.000-05:00

CHARLESTON -- US Airways Magazine will highlight West Virginia as part of its travel series in the May 2010 issue of its in-flight magazine, reaching about 3.1 million affluent business and leisure travelers who fly the airline to reach more than 230 destinations in 32 countries.

   “West Virginia is a real hidden gem,” explained Carsten Morgan, director of special projects for Pace Airline Media. “Located in the heart of the airline’s dominant market share in the surrounding Mid-Atlantic region, the state has a wonderful story to tell.”

   “West Virginia’s beautiful countryside, community pride and strong leadership were all contributing factors in selecting the state.” Morgan added.

   Pace Airline Media, which publishes the magazine, estimates that the travel and relocation feature on West Virginia will be approximately 12 to 16 pages in length. The issue will cover the state’s history and heritage, its outdoor recreational opportunities and its attractions, events and entertainment. The section also will profile West Virginia’s livable metros, charming small town gems and residents’ high quality of life amid the state’s great beauty.

   The West Virginia travel feature follows US Airways’ successful 2008 economic profile of the state, which brought much positive attention.

   “The West Virginia Department of Commerce is pleased to support this opportunity to tell our state’s story to a national and global audience – particularly with its release at the start of the high-volume summer travel season,” said Kelley Goes, cabinet secretary of the West Virginia Department of Commerce, which includes the West Virginia Division of Tourism and the Division of Natural Resources.

   “This issue will provide a great opportunity to highlight what the state has to offer for recreation and living. Plus, the timing is perfect leverage for our high-profile events -- like the PGA TOUR’S Greenbrier Classic golf tournament and the Boy Scouts of America’s high-adventure base – to draw attention to all that our state has to offer.”

Mylan reports improved financial results for 2009

2010-02-26T14:18:00.000-05:00

PITTSBURGH -- Mylan Inc. has announced its financial results for the three and twelve months ended December 31, 2009.

Financial Highlights
• Adjusted diluted earnings per share (EPS) of .33 and $1.30 for the three and twelve months ended December 31, 2009, compared to .26 and .80 for the same prior year periods;
• Total revenues of $1.35 billion for the three months ended December 31, 2009;
• Total revenues of $5.09 billion for the year ended December 31, 2009;

Mylan's Chairman and CEO Robert J. Coury said, "I'm pleased to report very strong fourth quarter results capping off another extremely successful year, our second full year of operating the New Mylan. With that said, we are reaffirming our 2010 guidance of $1.50 to $1.70, which I fully expect will translate into an industry-leading EPS growth rate over the 2008 to 2010 period. I anticipate that this strong growth will continue, and we are projecting revenues in excess of $8.5 billion in 2013, representing a top-line CAGR of 15%, from 2010. We are also projecting EPS in excess of $2.75 in 2013, which represents a CAGR of 20%. Additionally, I fully expect we will be able to deliver EPS in excess of $2 in 2011. We also anticipate generating cumulative operating cash flows of approximately $4 billion by the end of 2013. With that said, we expect to continue to lead the sector in EPS growth, which we believe will benefit all shareholders and other stakeholders."

Total revenues for the quarter ended Dec. 31, 2009 increased $148.7 million, or 12% to $1.35 billion from $1.20 billion in the same prior year period. Revenues in the current quarter were favorably impacted by the effect of foreign currency translation, reflecting a weaker U.S. dollar. Translating current year revenues at prior year exchange rates would have resulted in operational year-over-year revenue growth, excluding foreign currency, of $70.3 million, or approximately 6%.

Generics revenues, which are derived from sales in North America, Europe, the Middle East and Africa (collectively, EMEA), and Asia Pacific were $1.29 billion in the current quarter, compared to $1.13 billion in the same prior year period.

Total revenues from North America were $545.0 million for the three months ended December 31, 2009, compared to $561.7 million for the same prior year period, representing a decrease of 3%. Prior year revenues included a substantial contribution from levetiracetam, which was launched by Mylan in November 2008. Additional generic competition on levetiracetam entered the market in mid-January 2009.

Helping to offset some of the effect of this additional competition were products launched in North America subsequent to December 31, 2008, which contributed revenues of approximately $81 million, including lansoprazole delayed-release ("lansoprazole DR") capsules, 15 mg and 30 mg, the generic version of Tap Pharmaceuticals' proton pump inhibitor Prevacid(R) DR Capsules.

Sales in Asia Pacific are derived from Mylan's operations in India, Australia, Japan and New Zealand. Asia Pacific revenues were $309.1 million in the current quarter, compared to $232.3 million in the same prior year period, an increase of 33%. Excluding foreign currency, calculated as described above, operational sales increased approximately 20%, primarily driven by increased sales in Japan and India. Also contributing to the increase in Asia Pacific revenues are higher third-party sales of active pharmaceutical ingredients (API). API is also sold to Mylan subsidiaries in conjunction with our vertical integration strategy.

Specialty, consisting of Mylan's Dey business, which focuses on the development, manufacture and marketing of specialty pharmaceuticals in the respiratory and severe allergy markets, reported total revenues of $87.5 million for the current quarter, an increase of 8% from $81.2 million for the three months ended December 31, 2008, led by Perforomist(R) Solution, Dey's Formoterol Fumarate Inhalation Solution (Perforomist Solution). Sales of Dey's EpiPen(R) Auto-Injector were consistent on a year over year basis and, as has been previously noted, fourth quarter sales of the EpiPen Auto-Injector are seasonally the lowest.

Consolidated gross profit for the three months ended December 31, 2009, was $516.0 million and gross margins were 38.2%, compared to gross profit of $394.7 million and gross margins of 32.8% in the same prior year period. Gross profit in both periods is negatively impacted by certain purchase accounting related items totaling $72.4 million and $145.6 million for the quarters ended December 31, 2009 and 2008, which consisted primarily of incremental amortization related to purchased intangible assets and step-up in inventory. Excluding these amounts from both periods, gross margins were 43.5% in the current year compared to 44.9% in the prior.

Earnings from operations were $60.0 million for the three months ended December 31, 2009, compared to $34.6 million for the same prior year period.

Total revenues for the year ended December 31, 2009 were $5.09 billion compared to $5.14 billion for the prior year. Included in total revenues in the prior year was other revenue of $468.1 million of previously deferred revenue related to the sale of our rights in Bystolic(TM). Excluding other revenue from both years, net revenue increased by $384.2 million, or 8% from $4.63 billion in the prior year to $5.02 billion in 2009.

Generics revenues were $4.70 billion in the year ended December 31, 2009, compared to $4.29 billion in the prior year.

Total revenues from North America were $2.18 billion for the year ended December 31, 2009, compared to $1.87 billion for the prior year, representing an increase of 16%. This increase was the result of new product revenue of approximately $322.5 million, mainly Divalproex Sodium Extended-Release tablets, Mylan's version of Abbott Laboratories' Depakote(R) ER.

With headquarters in Pittsburgh, Mylan maintains a large production facility in Morgantown. Mylan is the 11th largest private company in West Virginia in 2009, according to data released by Workforce West Virginia.

Mylan Inc. ranks among the leading generic and specialty pharmaceutical companies in the world and provides products to customers in more than 140 countries and territories. For more information, visitwww.mylan.com .

SBA to offer virtual business training online March 1

2010-02-26T14:09:00.000-05:00

CLARKSBURG – A live Webinar and hands-on workshop is being provided by the U.S. Small Business Administration and its resource partners on Monday, March 1. This training will provide West Virginia’s small businesses with tools and information on how to do business with the federal government. The training will focus on how small businesses can: market to federal agencies; find contracting opportunities online; learn the government buying process; and how to get registered.

“We want to reach as many small businesses and entrepreneurs as we can and our Virtual Training Initiative is a perfect way to expand our outreach efforts in rural West Virginia,” said Judy McCauley, director of SBA’s West Virginia District Office.

   Selling to the Government & SBA’s Small Business Certification Programs will be held at 10:00 a.m. and Getting Your Business Registered in CCR, is set for 1:30 p.m. The hands-on portion of the training will be conducted at the West Virginia Women’s Business Center (WBC) in Beckley, W.Va. The WBC is located at 200 Value City Center, Suite 601 in Beckley. Businesses interested in attending the Beckley training can contact the WBC at (304) 253-3145.

   Small business owners can also participate in one or both of the workshops from the comfort of their own office through SBA’s ReadyTalk conferencing system. For information on how to participate and to register, contact Naomi Bassel at naomi.bassel@sba.gov or (304) 623-5631 extension 225.

   The federal government is the largest purchaser of goods and services in the world, spending nearly $520 billion in 2008. Contracting can be an excellent option for small businesses searching for expansion opportunities and for ways to keep their companies viable in today’s business climate. The U.S. Small Business Administration oversees various certification programs which can provide minorities, women, disabled veterans and other social and economic disadvantaged individuals with tools to engage in federal contracting.

   Representatives from the West Virginia Women’s Business Center, Regional Contracting Assistance Center, and the U.S. Small Business Administration will be providing instructional guidance and support during the presentations.

SBA experts to host Web Chat on assistance with Federal Contracting

2010-02-26T14:07:00.000-05:00

WASHINGTON – On Thursday, March 4, the SBA’s Web Chat will highlight assistance to small businesses looking to grow or expand in the federal government marketplace, and businesses that need surety bonds to do public and private contracting. Business owners can find out how to position their business to sell to the government and how to obtain bonding.

Karen Hontz, Office of Government Contracting and Business Development, and Pam Swilling, Office of Surety Guarantees at the U. S. Small Business Administration will host the Web chat on “Contracting Opportunities & Surety Bonds.” Hontz and Swilling will answer questions on doing business in the federal market and how small contractors can get assistance in obtaining surety bonds.

The SBA’s Web chat series, providing small business owners with an opportunity to discuss relevant business issues online with experts, industry leaders and successful entrepreneurs. Chat participants will have direct, real-time access to the Web chats via questions they submit online in advance and during the live session, with instant answers.

Hontz and Swilling will answer questions for one hour beginning at 1 p.m. on March 4.

Participants can join the live Web chat by going online to www.sba.gov , and clicking “Online Business Chat.” Web chat participants may post questions before the March 4 chat by visiting http://web.sba.gov/livemeeting/Mar10 / and posting their questions online.

To review archives of past Web chats, visit online at http://www.sba.gov/tools/monthlywebchat/index.html

West Virginia to receive $126 million grant for statewide broadband project

2010-02-19T14:19:00.000-05:00

WHEELING, W.Va. - The state of West Virginia will receive more than $126.3 million worth of federal stimulus funds for the Statewide Broadband Infrastructure Project. The state applied for the grant last year.

“More than three years ago, I announced that our goal is to have West Virginia wired for broadband access from border to border, and with today’s stimulus funding announcement, our dream is well on its way to reality,” Gov. Joe Manchin said. “I consider the direction we take from today’s announcement just as significant as upgrading from the telegraph to the telephone, or going from a two-lane road to an Interstate highway system.”

The governor said the broadband project will take the state’s technology infrastructure to a new level, particularly for the more rural parts of West Virginia. “This project is not just about technology; it’s about providing better public safety, broadening our health care technology, and enhancing and delivering a better education system,” the governor said.

   West Virginia was the only state in the nation to apply for a complete statewide grant, which would not have happened without a lot of hard work, preparation and the expertise of Cisco Systems Chairman and CEO John Chambers, Manchin said. “Our own very talented people put this application together and they consulted with top experts in the field, including John Chambers, to make this a workable, successful plan.

   “The dream we had in 2007 to expand broadband access statewide by 2010 is more realistic now because of the hard work of our team and the work with Cisco’s assistance. The state has been rewarded extremely handsomely to move our state forward in the 21st century.”

   West Virginia received the full funding request from its application.

   The announcement was made by U.S. Department of Commerce Sec. Gary Locke, who joined U.S. Sen. Jay Rockefeller, Reps. Nick Rahall and Alan Mollohan and National Telecommunications and Information Administration Administrator Larry Strickling in presenting the grant.

   Plans for the project include bringing high-speed Internet access to the region by expanding the state’s existing microwave public safety network and adding about 2,400 miles of fiber. As a result, every K-12 school in the state will have a high-speed internet connection. In addition, access to health-care, distance learning opportunities and broadband video applications for emergency first-responders will be greatly expanded.

   The project intends to spur affordable broadband service that would affect more than 700,000 households, 110,000 businesses and 1,500 anchor institutions by allowing local Internet service providers to connect to the project’s open network.

WorkForce West Virginia receives $250,000 grant for regional economic development

2010-02-19T13:50:00.000-05:00

   CHARLESTON – The U.S. Department of Labor has awarded WorkForce West Virginia a $250,000 Regional Innovation Grant to help the Advantage Valley region of West Virginia and nearby counties in Kentucky and Ohio establish economic development plans that will create long-term sustainable growth and employment opportunities.

   “West Virginia is committed to doing all we can to address changing economic conditions,” said Gov. Joe Manchin. “Funding from this grant will help make sure we have a well-trained work force capable of meeting current and future workplace challenges.”

   Implementation of the plan includes determining the strengths and weaknesses of the Advantage Valley region, identifying target industries and helping displaced workers train and connect with available jobs.

   “WorkForce West Virginia and our partners will collaborate to establish economic and education projects that offer area workers high-quality career opportunities and promote business growth in the Advantage Valley region, "said Russell Fry, acting executive director for WorkForce West Virginia.

   Advantage Valley was created in 1996 to promote the region along I-64 from Montgomery, W.Va., to Ashland, Ky. The region was later expanded and now includes Boone, Clay, Cabell, Kanawha, Lincoln, Mason, Putnam and Wayne counties in West Virginia; Boyd, Carter and Greenup counties in Kentucky; and Lawrence County, Ohio.

   "Advantage Valley is grateful for the support received from the Governor's Office, the West Virginia Department of Commerce and WorkForce West Virginia for this project,” said Mike Herron, Advantage Valley president. “We are anxious to begin working on plans to strengthen the area's identity and refining a strategic plan that supports regional goals that will help ensure that the area's work force remains globally competitive.”

   WorkForce West Virginia is a network of work force development services designed to provide West Virginia's citizens and employers the opportunity to succeed in today’s competitive global economy. For more information, visit www.workforcewv.org .

Japanese manufacturer Nippon Tungsten to open first North American facility in West Virginia

2010-02-17T10:22:00.000-05:00

CHARLESTON – Japan-based manufacturer Nippon Tungsten has selected West Virginia for its first facility in North America and its first wholly owned subsidiary outside of Japan.

Nippon Tungsten plans to occupy an existing 10,000-square-foot building located in Cabell County. The company will create a high-tech specialized machine shop that will resharpen blades manufactured by Nippon Tungsten’s equipment in Japan. The facility will service the company’s customers located throughout North America.

“West Virginia is proud that Nippon Tungsten chose to open its first North American facility in our state,” said Gov. Joe Manchin. “International investment is an important part of West Virginia’s growing economy. We continue to attract such companies due to our strategic market location, skilled workforce and positive business climate.”

“Before deciding where to open our first facility in the U.S., we evaluated various locations,” said Shozo Yoshida, president of Nippon Tungsten. “West Virginia offered advantages such as proximity to customers and an existing building that met our needs. When we also considered the assistance from state and local government and the positive experience of other Japanese companies in this state, we found West Virginia to be the best choice.”

Nippon Tungsten will invest $2.4 million in the facility, which is expected to create six jobs initially. It is scheduled to be in operation by May 2010.

   For Nippon Tungsten’s customers, blade sharpness is imperative to cut materials with speed and precision. One of the firm’s largest North American customers, Proctor and Gamble, relies on the blades to cut products such as sanitary napkins and diapers.

   The blades are sharpened in an intricate three-stage process. In the final stage, the blades are filed by a skilled technician equipped with microscope-enhanced vision.

   Nippon Tungsten refines and fabricates tungsten and other metals to manufacture fine ceramic and refractory products. Nippon Tungsten products and technologies include die cutters, ceramic substrate, electrical contact and alloy metal components. The company is headquartered in Fukuoka City on Kyushu Island, Japan. The firm has offices and factories throughout Japan, China and Thailand.

10 finalists announced in statewide business plan competition

2010-02-16T09:31:00.000-05:00

MORGANTOWN, W.Va. – West Virginia University placed six teams in the top ten at the fourth annual Statewide Collegiate Business Plan Competition.

The competition features student teams from colleges and universities throughout West Virginia. Finalists will take the next step toward becoming the newest state collegiate entrepreneurs with a workshop Feb. 19-20 at WVU.

   Other finalists are from Glenville State College, Marshall University and the University of Charleston.

   The Statewide Collegiate Business Plan Competition spans the entire academic year and typically begins early in the fall semester. This year, 98 applicants from seven state institutions submitted proposals to be considered for the competition. The field was narrowed to 20 competitors, who were then invited to participate in the second round of competition in November, 2009. After second-round judging, 10 finalists were selected to advance to the final round of competition. The winners will be announced in April. Winners in the Lifestyle and Technology categories each win a $10,000 prize. Each winning team also receives professional business services, which they use to build small businesses within the state.

   Over the weekend, the WVU Entrepreneurship Center will host a workshop for the would-be companies looking to transform their visions into reality. The workshop gives participants the opportunity to interact with successful business professionals as the teams hone their business plans.

   “The weekend workshop is the main educational component of the Business Plan Competition,” said Mindy Walls, WVU Entrepreneurship Center Director. “It gives participants the chance to receive individual help from state entrepreneurs and work through issues they are facing in planning their businesses.”

   Coaches, participants and speakers from all over the state will be welcomed on Friday, Feb. 19, with an evening dinner at the Waterfront Place Hotel, followed by tips from past participants and advice from state business leaders. Law students from the WVU Entrepreneurial Law Clinic will also be on hand to provide legal consultation to all finalist teams.

   The workshop weekend continues on Saturday morning at the WVU College of Business and Economics, as teams will work all day with coaches to develop their business strategies in preparation for the final round of competition that will be held April 9-10.

   Finalists are encouraged to enroll in an online entrepreneurship course through the WVU College of Business and Economics designed to support their efforts in an academic setting.

   “The use of distance learning gives participants in this competition the opportunity to get advice on all aspects of their businesses,” Walls said. “Plus, they get to interact live as part of the process, which is quite valuable to the teams.”

   The WVU Business Plan Competition expanded to all four-year institutions statewide in 2006, with the goal of promoting entrepreneurship in higher education by providing leadership, skills training and peer support to students interested in building small businesses in West Virginia.

   For more information on the Statewide Collegiate Business Plan Competition, visit the Entrepreneurship Center website at: http://www.be.wvu.edu/bpc.

Four named to Business Hall of Fame at Marshall University

2010-02-12T10:41:00.000-05:00

HUNTINGTON – Four successful business leaders will be honored by Marshall University when they are inducted into the Lewis College of Business Hall of Fame Tuesday, April 20. This year’s inductees include Mark Chandler, vice president and chief financial officer of Triana Energy LLC; David Fox, III, vice president of business development of McJunkin Red Man Supply Company; James C. Justice, II, owner of The Greenbrier; and John Leslie, owner of Leslie Equipment Company.

The induction reception and ceremony will take place in the new Marshall University Foundation Hall, home of the Erickson Alumni Center, on the Huntington campus. The celebration will start with a VIP reception at 5:30 p.m., followed by a general reception at 6:15 p.m. and an awards ceremony at 7 p.m.

The Hall of Fame honors those people in the business community who have an outstanding record of long-standing achievement in their career fields. It is the most distinguished honor granted by the Lewis College of Business (LCOB).

“This year we have some very outstanding inductees into the Lewis College Business Hall of Fame,” said Dr. Chong Kim, dean of the College of Business. “Not only will we be recognizing four outstanding business leaders, but this also will be one of the first big events in our new alumni center. It also is a revitalization of the Hall of Fame since we have not had an induction since 2006.”

The 2010 inductees are:

• Mark A. Chandler, vice president and chief financial officer of Triana Engergy LLC and affiliated companies, graduated magna cum laude from Marshall University in 1981. He began his career in Huntington, rising within the ranks of public accounting to become a partner in the firm Lockhart and Chandler, CPA’s. He left public accounting to join Columbia Energy in 1989 and became the Chief Financial Officer of Columbia Natural Resources in 1996. Chandler later became one of the original partners in Triana Energy, where he served as vice president and CFO from 2001 until the company’s sale in 2005. He continued working with that team of entrepreneurs and currently serves as CFO for a number of successful energy related enterprises, including Triana Energy, Highlands Drilling and Appalachian Geophysical Services.

• David Fox, III, vice president of business development with McJunkin Red Man Supply Company, graduated from Marshall University in 1971 with a Bachelor of Arts in Business Administration. His career began in the oil and gas industry in 1972 with Branchland Pipe & Supply, a family owned business started in 1921 by his grandfather, David Fox, Sr. Along with his family, Fox started Appalachian Pipe & Supply in 1984. It merged with the oil and gas division of McJunkin Corporation in 1989 to form the largest oil field supply company in the eastern United States. Fox served as senior vice president and managed overall operations. McJunkin was sold to Goldman Sachs in 2007.

• James C. Justice, II, owner of The Greenbrier and The Greenbrier Sporting Club, and James C. Justice Companies, Inc., received his BS and MBA degrees from Marshall University. He served as captain of the Marshall University golf team his last two years. Justice joined the family business in 1976 and as a result of his strong interest in agriculture in 1977 he started Bluestone Farms, which is currently operating as Justice Family Farms, LLC. Under his direction, Justice Farms grew to be the largest cash grain operation on the east coast. After the death of his father in 1983, Justice became president and CEO of Bluestone Industries, In., and Bluestone Coal Corporation. In 2003, Justice founded the James C. Justice Companies, Inc., to further expand the coal reserve base and acquire additional mining operations.

• John Leslie, owner of Leslie Equipment Company, graduated from Marshall University in 1974 with a bachelor’s degree in business management. He returned to his hometown of Cowen, W.Va., and bought his uncle’s half of Leslie Brothers Equipment Co., a John Deere equipment franchise. Leslie ran the business with his father until 1985, when he purchased his father’s half of the company to become the sole owner. Eventually, Leslie shortened the name to Leslie Equipment Co. and expanded the business in Cowen. Today, Leslie Equipment employs more than 250 people at 10 locations throughout West Virginia, Ohio and Kentucky.

FirstEnergy to acquire Allegheny Energy in $8.5 billion stock-for-stock deal

2010-02-11T08:22:00.000-05:00

AKRON, Ohio -- FirstEnergy and Allegheny Energy, Inc. today announced that both companies' boards of directors have unanimously approved a definitive agreement in which the companies would combine in a stock-for-stock transaction.

Under the terms of the agreement, Allegheny shareholders would receive 0.667 shares of FirstEnergy common stock in exchange for each share of Allegheny they own. Based on the closing stock prices for both companies on Feb. 10, 2010, Allegheny shareholders would receive a value of $27.65 per share, or $4.7 billion. FirstEnergy will also assume approximately $3.8 billion in Allegheny net debt. The price per share represents a premium of 31.6 percent to the closing stock price of Allegheny on Feb. 10, 2010, and a 22.3 percent premium to the average stock price of Allegheny over the last 60 days ending Feb. 10, 2010. Following the completion of the merger, it is anticipated that FirstEnergy shareholders would own approximately 73 percent and Allegheny shareholders would own approximately 27 percent of the combined company.

The companies expect to complete the transaction within 12-14 months.

The combination creates a leading regional energy provider with: -- Approximately $16 billion in annual revenues and $1.4 billion in annual net income (combined figures as of December 31, 2009); -- Ten regulated electric distribution companies providing electric service to more than six million customers in Pennsylvania, Ohio, Maryland, New Jersey, New York, Virginia and West Virginia; -- Nearly 20,000 miles of high-voltage transmission lines connecting the Midwest and Mid-Atlantic; -- Approximately 24,000 megawatts (MW) of generating capacity from a diversified mix of regional coal, nuclear, natural gas, oil and renewable power; and -- More than 2,200 MW of renewable energy, including hydroelectric, contracted wind and pumped-storage capacity.

"The combination of our companies is a natural fit that will accelerate our efforts to strengthen the operating performance of our generating fleet while building on our long-standing dedication to customers, shareholders and employees," said Anthony J. Alexander, president and chief executive officer of FirstEnergy. "This transaction will provide outstanding value to both companies' shareholders - offering enhanced earnings growth potential and a more competitive cost structure. Among other benefits, it would increase generation resources by 70 percent, more than double the amount of supercritical coal capacity, improve the overall environmental performance of the generation fleet, and increase our customer base by 35 percent. We also expect to create significant efficiencies and economies of scale as we share best practices across the new organization."

Paul J. Evanson, chairman, president and chief executive officer of Allegheny, said, "This transaction significantly enhances value for our shareholders, who will receive both a meaningful premium and a substantial increase in the dividend based on FirstEnergy's current practice. The combined company will have substantial upside potential with increased scale and a more diverse generation fleet. We plan on working closely with FirstEnergy to integrate the businesses while maintaining both companies' long-standing focus on reliability, customer service, quality and safety."

Following completion of the merger, the combined company would retain the FirstEnergy name and be headquartered in Akron, Ohio. The company's customers will continue to be served by their current electric utility companies including: Pennsylvania Electric Company (Penelec); Pennsylvania Power Company (Penn Power); Metropolitan Edison Company (Met-Ed); Allegheny Power (including: West Penn Power Company; Monongahela Power Company; The Potomac Edison Company); Ohio Edison Company; The Cleveland Electric Illuminating Company (CEI); The Toledo Edison Company; and Jersey Central Power & Light (JCP&L).

Anthony J. Alexander will continue to serve as president and chief executive officer of FirstEnergy. Paul J. Evanson, currently chairman, president and chief executive officer of Allegheny, will become executive vice chairman of the combined company, reporting to Alexander. The FirstEnergy board will be expanded from 11 to 13 people with two additional directors from Allegheny.

About FirstEnergy
FirstEnergy is a diversified energy company headquartered in Akron, Ohio, with total annual revenues of $13 billion. Its subsidiaries and affiliates are involved in the generation, transmission and distribution of electricity, as well as energy management and other energy-related services. Its seven electric utility operating companies comprise the nation's fifth largest investor-owned electric system, serving 4.5 million customers within 36,100 square miles of Ohio, Pennsylvania, New Jersey and New York; and its generation subsidiaries control more than 14,000 megawatts of capacity. More information is available on the company's Web site at www.firstenergycorp.com/investor .

About Allegheny Energy
Allegheny is an investor-owned electric utility headquartered in Greensburg, Pa., with total annual revenues of over $3 billion. The company's approximately $3.8 billion of net debt excludes securitized debt estimated to be approximately $527 million. The company owns and operates 9,700 MW of generating capacity and delivers low-cost, reliable electric service to approximately 1.6 million customers in Pennsylvania, West Virginia, Maryland and Virginia. More information is available on the company's Web site at www.alleghenyenergy.com .

Huntington Banks says it will lend $4 billion to small businesses in the midwest

2010-02-11T08:17:00.000-05:00

COLUMBUS, Ohio -- Huntington Bank is committed to increasing the number of loans to small businesses through new lending guidelines and the hiring of 150 additional business bankers who will help small businesses navigate the lending process. Huntington estimates that approximately 27,000 loans will be made to small businesses over the next three years as a result of the bank's new initiatives, leading to job creation throughout the Midwest - a region that includes West Virginia.

"Small businesses are the engine for our economic recovery and future job growth in the Midwest," said Steve Steinour, chairman, president and CEO of Huntington Bank. "We know that small businesses generate 65 percent of new jobs, and we want to help our area recover by jump starting small business hiring. It's clear that healthy small businesses foster growth and vitality in the communities they serve. We view this commitment as a significant opportunity at this stage of the overall economic recovery."

While it is the 24th largest bank in the country, Huntington ended 2009 as the 7th largest SBA lender in the country. The bank also was the No. 1 SBA lender in four of the five markets it serves including Michigan, Ohio, West Virginia and Indiana in fiscal year 2009.

Huntington's new small business initiatives are an outgrowth of Huntington's strategic plan completed last year with elements that include:

-- Increased lending: Huntington will lend $4 billion to small businesses over the next three years in Ohio, Michigan, West Virginia, Pennsylvania, Indiana and Kentucky.

-- Turnaround loans: Many businesses suffered losses during the first part of the recession, which inhibited their ability to qualify for lending. If a business is experiencing a turnaround with several quarters of profitability and can provide reasonable projections, Huntington will include those results when evaluating loan applications.

-- Increasing the number of experts: Huntington is hiring more than 150 additional business bankers across its markets to aggressively call on small businesses to offer financial solutions to help those businesses grow.

-- CEO Roundtables: Huntington is launching small business CEO roundtables in Midwestern cities so that Huntington CEO Steve Steinour can hear directly from small business owners about the challenges they face and what they need to be more successful.

-- Exploring government loans: Huntington looks for every opportunity to approve each application. In addition to conventional loans, Huntington utilizes 15 different government-lending programs including SBA lending, state and local lending, and agriculture and rural development loan programs.

For more information about Huntington's small business lending call: 1-800-480-2001. Or visit our Web site at www.huntington.com .

Governor Releases February 'Open for Business' Report

2010-02-05T10:32:00.000-05:00

CHARLESTON – Gov. Joe Manchin today released the latest Open for Business report documenting the state's economic progress. The February 2010 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.

West Virginia to receive $6 million grant to train 1,800 for clean energy jobs
West Virginia will receive $6 million in federal economic stimulus funds to train 1,853 people for “green” jobs. WorkForce West Virginia will use the funds to work with educational and training providers to provide training and professional development. The program is expected to help 1,672 West Virginians find employment in “green” enterprises, including wind energy, bio-power industries and water and sewer plants.

Management firm opens office in Kanawha County
New York-based RGZ Solutions has opened an office in the Charleston Area Alliance Business Incubator. The consulting firm offers services in complex project management in information technology; computer security assessments and audits; implement large financial and Enterprise Resource Planning (ERP) systems (SAP, Oracle, Microsoft Dynamics); and governance risk and compliance work.

Jefferson County’s “green” paperboard company celebrates 140th anniversary
Having survived the Civil War, the Great Depression, two world wars, and several changes in ownership, the Halltown paperboard manufacturer in Jefferson County marks 140 years of making paper in West Virginia. The Ox Paperboard Co. recycles waste paper from various sources into pulp to make new products. The plant is focusing on recycling local paper products. The company also recycles water used in the papermaking process. Ox Paperboard’s plans for the future call for a nearly $1.5 million capital investment at the facility.

Morgantown ranks #2 on list of “Best Cities for Jobs”
Morgantown in Monongalia County ranks second among 19 U.S. cities that show job growth of 1 percent or more from July-October 2009, according to a report by CareerBuilder.com. Heading the list with 2.7 percent employment growth was Merced, Calif., followed by Morgantown at 2.4 percent.

West Virginia schools get good marks in education report
West Virginia’s educational system received a B- in Education Week’s Quality County 2010 report. The national average score was a C. West Virginia was the first in the nation to receive an A in “Standards, Assessments and Accountability.” The state ranked seventh in the nation with a B- in “Teaching Profession.” West Virginia scored a C- in “Chances for Success,” a category based on 13 factors including family income, parents’ level of education and high school graduation rates.

WVEDA approves $522,000 for business loan
The West Virginia Economic Development Authority (WVEDA) approved a $522,000 loan during its January meeting: - Randox Laboratories, $522,000, to finance a building in Kearneysville, Jefferson County. Based in the United Kingdom, Randox produces diagnostic reagents and systems. Also during its January meeting, WVEDA approved allocations for the following projects to facilitate the issuance of tax exempt bonds under the guidance of federal tax rules. - $45,172,875 for Longview Power, Morgantown, a new 695-megawatt electrical power generating plant under construction - $30 million for American Clean Energy LLC, located at the Harless Wood Products Industrial Park, Mingo County, a new 28-megawatt wood-fired electricity generation plant.