West Virginia coal supporters taking message to Washington Sept. 15

    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

    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

    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

    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

    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

    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

    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

    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

    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

    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

    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

    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

    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

    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

    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

    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.