WEST VIRGINIA SPOTLIGHT
New MSAs To
Spark Interest In
West Virginia
Spark Interest In
West Virginia
| W |
hen the federal Office of Management & Budget issued its new Metropolitan Statistical Area (MSA) designations earlier this year, West Virginia added two new areas. The Morgantown MSA includes Monongalia and Preston counties and the Winchester MSA, which is shared with Virginia, contains West Virginia's Hampshire County. West Virginia now has 10 MSAs, but just two completely contained in the state: Morgantown and Charleston. The designation ironically comes during a period when the state's population has been virtually static and some of its larger cities have actually lost population.
But the boost in MSAs should give the state higher visibility when site selectors scour the country for a small MSA to locate a business, says Dr. George W. Hammond, professor of economics and finance at West Virginia University. Hammond, who authors the bi-monthly West Virginia Business & Economic Review, says the Morgantown MSA designation should add more stimulus to the economic momentum of Monongalia County, which has been one of the fastest-growing counties in the state.
"The MSA designation certainly has the potential to increase access to federal funds to expand transportation infrastructure," Hammond says. "It will also increase the availability of information about the region."
Recent projects around the state have come from the auto parts manufacturing, high-tech software and chemical manufacturing sectors. Hoping to build on the state's incremental successes, Gov. Bob Wise in early July signed an executive order forming a Cooperative Partnerships Steering Committee of business and labor leaders to promote increased economic development around the state.
"The economic growth of West Virginia hinges upon a productive working relationship between business and labor," Wise wrote in the order.
David Satterfield, executive director of the West Virginia Development Office, says the state is becoming more of a target for distribution activities due to its location, which he describes as "a tankful of gas from 50 percent of the U.S. population." He says improvements to the state's Interstate highways, which are not as congested as in some states, have helped, too.
IDEA will involve establishment of the Biotechnology Development Center to identify technologies worthy of commercial development; the Center for Business & Economic Research to increase the flow of research dollars; and entrepreneurial curricula.
"This is an endeavor that will use the innovations developed here to bring economic reward to our region in the development of new enterprises for our university and community," says Dan Angel, Marshall president.
The company's suppliers include Dow, BASF and Bayer, all with operations in the state.
"The state's proximity to our market and to a number of our key raw material suppliers were important reasons for our choice," says Edwin Martinkat, managing director.
Construction is under way on a 31,000-sq.-ft. (2,880-sq.-m.) facility in Putnam Co. to house the U.S. manufacturing operation of Nippon Thermostat of America. The plant, which will eventually employ 50-60 people, will open next summer.
With its headquarters in Tokyo, Nippon Thermostat has three factories in Japan and supplies thermostats to Toyota, Honda, Nissan, Mazda, Suzuki and Mitsubishi. In the U.S., Nippon supplies its products to GM. "We know that West Virginians are dedicated workers who will provide our customers with the best possible products," says Yoshiyuki Onishi, Nippon Thermostat president.
Sogefi, an Italy-based supplier of automotive suspension and filtration systems, is investing $27 million to build its first U.S. plant in Prichard. The plant, which will make coil springs and stabilizer bars for the U.S. auto market, will begin operations in the spring of 2004 and will employ about 150. Sogefi bought a 50,000-sq.-ft. (4,645-sq.-m) building and is expanding it to 215,000 sq. ft. (20,000 sq. m.).
Limbic Systems, which applies digital imaging technology to forensic analysis and verification, will move its business headquarters for those sectors from Bellingham, Wash., to Morgantown and create 35 jobs. Limbic Systems is a pioneer of a new generation of software: visualization enhancement technology, which aids analysis of all digital images.
Limbic Systems currently works with West Virginia's FBI Fingerprint Identification Center, the West Virginia State Police Crime Lab and the West Virginia University Health Sciences Center. Its clients include the U.S. Dept. of Defense and the U.S. Treasury Dept.
"West Virginia is already a player in the exciting biometrics arena," says Steve Brinn, Limbic Systems president and CEO. "We welcome the opportunity to continue in our mission in a state that welcomes and rewards creative thinking."
Cabela's Inc., a leading outfitter for outdoor activities, is building a 1 million-sq.-ft. (92,900-sq.-m.) distribution center along with a 175,000-sq.-ft. (16,260-sq.-m.) retail store in the Forth Henry Business & Industrial Centre in Ohio County near Wheeling. The project will represent an $80-million investment and creation of as many as 1,200 jobs. The distribution center is slated to open in the spring of 2004.
West Virginia 2003: Population: 1,803,891A Demographic Profile Population Growth (1990-2002): 0.59% Households: 735,814 Housing Units: 841,703 Median Household Size: 2.6 Home Ownership: 66.9% Median Monthly Rent: $335 Median Monthly Mortgage: $550 Per Capita Income: $20,314 Percent with College Degree: 11% Total Work Force: 722,497 Total Crime Index (US avg.=100): 115.0 Annual Avg. Temperature: 62.0°F Annual Spending Per Capita: $15,903 Consumer Price Index: 145.8 EASI Quality of Life Index: 38.0 Source: Development Alliance (www.developmentalliance.com) |
But the boost in MSAs should give the state higher visibility when site selectors scour the country for a small MSA to locate a business, says Dr. George W. Hammond, professor of economics and finance at West Virginia University. Hammond, who authors the bi-monthly West Virginia Business & Economic Review, says the Morgantown MSA designation should add more stimulus to the economic momentum of Monongalia County, which has been one of the fastest-growing counties in the state.
"The MSA designation certainly has the potential to increase access to federal funds to expand transportation infrastructure," Hammond says. "It will also increase the availability of information about the region."
Recent projects around the state have come from the auto parts manufacturing, high-tech software and chemical manufacturing sectors. Hoping to build on the state's incremental successes, Gov. Bob Wise in early July signed an executive order forming a Cooperative Partnerships Steering Committee of business and labor leaders to promote increased economic development around the state.
"The economic growth of West Virginia hinges upon a productive working relationship between business and labor," Wise wrote in the order.
David Satterfield, executive director of the West Virginia Development Office, says the state is becoming more of a target for distribution activities due to its location, which he describes as "a tankful of gas from 50 percent of the U.S. population." He says improvements to the state's Interstate highways, which are not as congested as in some states, have helped, too.
Hunting For Biotech In Huntington
You won't find West Virginia on any of the current lists of top biotechnology meccas, but that doesn't mean the state isn't trying to jump on the bandwagon. Take the establishment of the Institute for Development of Entrepreneurial Advances (IDEA) at Marshall University in Huntington. IDEA, the latest piece in the University's planned US$48-million investment in biotechnology, will focus on commercialization of technology and science developed at Marshall and throughout the region.IDEA will involve establishment of the Biotechnology Development Center to identify technologies worthy of commercial development; the Center for Business & Economic Research to increase the flow of research dollars; and entrepreneurial curricula.
"This is an endeavor that will use the innovations developed here to bring economic reward to our region in the development of new enterprises for our university and community," says Dan Angel, Marshall president.
German Firm Joins State's Chemical Base
Known worldwide as a home to major chemical manufacturers, West Virginia is adding another as Stockmeier Kunststoffe plans to open a facility in Clarksburg to employ 25 in the manufacture of polyurethane products. The German company manufactures coatings, adhesives, sealants, elastomers, castings and bindings for such industries as electrical, filter and sports flooring manufacturers.The company's suppliers include Dow, BASF and Bayer, all with operations in the state.
"The state's proximity to our market and to a number of our key raw material suppliers were important reasons for our choice," says Edwin Martinkat, managing director.
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State Draws New Auto Parts Suppliers
Not far from the big automakers of the Midwest, West Virginia frequently catches the eye of industry suppliers.Construction is under way on a 31,000-sq.-ft. (2,880-sq.-m.) facility in Putnam Co. to house the U.S. manufacturing operation of Nippon Thermostat of America. The plant, which will eventually employ 50-60 people, will open next summer.
With its headquarters in Tokyo, Nippon Thermostat has three factories in Japan and supplies thermostats to Toyota, Honda, Nissan, Mazda, Suzuki and Mitsubishi. In the U.S., Nippon supplies its products to GM. "We know that West Virginians are dedicated workers who will provide our customers with the best possible products," says Yoshiyuki Onishi, Nippon Thermostat president.
Sogefi, an Italy-based supplier of automotive suspension and filtration systems, is investing $27 million to build its first U.S. plant in Prichard. The plant, which will make coil springs and stabilizer bars for the U.S. auto market, will begin operations in the spring of 2004 and will employ about 150. Sogefi bought a 50,000-sq.-ft. (4,645-sq.-m) building and is expanding it to 215,000 sq. ft. (20,000 sq. m.).
High-Tech Software Firm Finds Morgantown
West Virginia University in Morgantown claims to offer the only bachelor's degree in the world in forensic identification and biometrics. So, it makes sense that firms specializing in this sector would take a close look at the college town.Limbic Systems, which applies digital imaging technology to forensic analysis and verification, will move its business headquarters for those sectors from Bellingham, Wash., to Morgantown and create 35 jobs. Limbic Systems is a pioneer of a new generation of software: visualization enhancement technology, which aids analysis of all digital images.
See the SITES West Virginia Development Office www.wvdo.org
Bureau of Business
U.S. Dept. of Labor West
Morgantown Area |
Limbic Systems currently works with West Virginia's FBI Fingerprint Identification Center, the West Virginia State Police Crime Lab and the West Virginia University Health Sciences Center. Its clients include the U.S. Dept. of Defense and the U.S. Treasury Dept.
"West Virginia is already a player in the exciting biometrics arena," says Steve Brinn, Limbic Systems president and CEO. "We welcome the opportunity to continue in our mission in a state that welcomes and rewards creative thinking."
Ohio County Lands Outfitter's DC
Ohio County, tucked away in the northern "finger" of the state that separates part of eastern Ohio and western Pennsylvania, offers proximity to two populous states.Cabela's Inc., a leading outfitter for outdoor activities, is building a 1 million-sq.-ft. (92,900-sq.-m.) distribution center along with a 175,000-sq.-ft. (16,260-sq.-m.) retail store in the Forth Henry Business & Industrial Centre in Ohio County near Wheeling. The project will represent an $80-million investment and creation of as many as 1,200 jobs. The distribution center is slated to open in the spring of 2004.