Final economic grant committee project financed
By Caitlin Cook
CHARLESTON, W.Va. -- Members of the West Virginia Economic Development Authority on Wednesday agreed to help finance the last project remaining from the decade-old state Economic Development Grant Committee.
WVEDA members agreed to a $65 million bond resolution to complete the wastewater treatment plant in the town of Moorefield.
In 2003, state legislators approved the excess lottery bonds, formerly called the Grant Committee. David Warner, executive director of the WVEDA, said the agency discussed all 47 initial projects from the Grant Committee.
"The majority of the projects have been completed for many years, and there was one town, Moorefield, that had a lot of different issues regarding financing, permits and delays," Warner said.
"We're pleased that's all wrapping up."
Also Wednesday, WVEDA board members granted final approval for a $9 million loan to Analabs Inc. in Crab Orchard.
The Raleigh County company provides drug testing and environmental testing for air and water quality for companies throughout the state. A new building to be built on the company's property will allow them to run both organic and inorganic tests on site.
Organic testing is used for landfills, hazardous waste sites and drinking facilities while inorganic testing incorporates metals and nutrients and is used in the coal industry.
Analabs employs 28 workers, but Kelli Harrison, vice president for the company, said the funds would allow the company to expand its business creating a new division providing 14 new jobs in three years. Currently, Analabs subcontracts any request for organic analysis, but the additional building will provide an adequate testing environment.
"We're bringing it 'in-house.' With this certification we can do a lot of analysis in a lot of different states," Harrison said.
The new building must be air-locked and separate from items tested in the first building to not contaminant test samples.
"We're please to participate in their expansion," said David Warner, executive director of WVEDA.
Also on Wednesday, members approved an increase to an existing loan to Thelma Daisy Real Estate Company in Elkins. According to the WVEDA, the increase from $1.71 million to $2.07 million will cover increased project costs because of a change in the original building design and location.
The facility will be leased to Valley Supply Company, a wholesale distributor of heating, ventilation, air conditioning, plumbing, pipes, valves and fitting product lines. Reach Caitlin Cook at firstname.lastname@example.org or 304-348-5113.