CHARLESTON, W.Va. -- The West Virginia Higher Education Policy Commission plans to take over a significant portion of the South Charleston Technology Park in hopes of bringing jobs to the struggling business campus.

Dow Chemical Co., which owns the tech park, intends to donate 258 acres to the higher education commission, which oversees public colleges in West Virginia.

Lawyers with Dow and the state are working out final details. An announcement about the property transfer is expected Dec. 16, according to state and county officials familiar with the negotiations.  

The Dow property also is being considered for a state-run $15 million technology training center.

"[Dow] has worked diligently on this effort, and it is certainly [Dow's] hope that a binding agreement will soon be made ... but no such agreement exists at this time," said Dow spokesman Randy Fischback.

Records show that Dow plans to donate two tracts of land from the 651-acre tech park to the state.

One tract encompasses 248 acres and includes at least nine buildings. The other consists of 10 acres and includes Building 2000, which houses Dow executives.

South Charleston Mayor Frank Mullens said he supports the state taking over the tech park, but he remains concerned that the city would lose a significant amount of property tax revenues. Dow pays about $360,000 a year in property taxes.

"It's a significant chunk of change," Mullens said. "I'm happy the state is involved so we can jump start some economic activity up there and create jobs, but we're also losing a revenue base."

The state is expected to hire an outside organization to recruit research firms and manage its portion of the tech park.

"If this donation occurs, we see it as a great long-term economic opportunity," said Kevin DiGregorio, director of the Chemical Alliance Zone, which has an office at the tech park. "We are definitely in support of this."

Dow has asked the South Charleston Planning Commission for permission to subdivide 258 acres at the technology park. The planning commission will consider the request at a Dec. 9 meeting.

In addition to the two tracts of land being donated to the state, Dow wants to create a 9-acre tract that includes Building 6000, which Hewlett Packard now occupies. Another 383-acre parcel would make up the tech park's fourth tract. 

"There are portions of the property that Dow hopes to divest and portions that would remain with Dow," Fischback said. "We continue to have divestiture discussions with the state and private parties and are hopeful we will be able to secure a divestment plan before year's end."

The 60-year-old tech park has more than 800,000 square feet of building space inside facilities valued at more than $200 million.

Dow has been shopping the buildings and land for about two years.

"Dow's goal is to dump it so they don't have to pay taxes," said Kanawha County Commission President Kent Carper, who supports the state's plan to take over part of the tech park.  "This is better than the alternative, and that alternative is they take a bulldozer and raze all the buildings."

In 2008, West Virginia University rejected Dow's offer to donate a five-story building and 58 acres at the park, citing environmental liability concerns. Dow valued the donation at $25 million.

In recent years, Dow has demolished two facilities -- Building 701 and 720 -- at the tech park. Dow has moved much of its research and development operations elsewhere.

The donated land would include Building 740, which houses the Mid-Atlantic Technology Research and Innovation Center, one of the tech park's largest tenants, state officials said. MATRIC has more than 100 employees. The group was formed in the wake of Dow's downsizing.

After the higher education commission takes over part of the tech park, Kanawha County economic development leaders hope to persuade the state to build a $15 million "advanced technology training center" on the property.

Last year, the state Legislature set aside money to build two technology training centers -- one along Interstate 79 between Clarksburg and Morgantown, the other between Charleston and Huntington. The centers would include labs for electrical, chemical and manufacturing training.

The Charleston-Huntington "Advantage Valley" center would be operated by Bridgemont (former WVU-Tech), Kanawha Valley (former West Virginia State) and Marshall community and technical colleges.

The state council that oversees community colleges is evaluating 10 sites for the technology-training center, including two properties at the Dow business park. Putnam County also has several sites under review.

The council hopes to pick a home for the training center by the end of the year.

"We're waiting to see what happens with the Dow property," said Jim Skidmore, chancellor of the Community and Technical College System. "It's one of the sites we're looking at. There hasn't been a decision yet on where we'll locate the center."

The council next meets Dec. 9.

Reach Eric Eyre at erice...@wvgazette.com or 304-348-4869.