Business
June 20, 2008
WVEDA approves 3 legal work contracts

The West Virginia Economic Development Authority board of directors approved three contracts for legal work, totaling $170,000, at its monthly meeting Thursday.

The legal contracts are with Spilman, Thomas & Battle, PLLC for up to $100,000 and two with Bowles Rice McDavid Graff & Love, LLP, for up to $30,000 and $40,000.

In other business, the board awarded five people high-growth business investment tax credits. Each received a credit totaling more than $1 but not more than $50,000.

Those receiving credits include Louise Polan of Proctorville, Ohio; and Judith Woodruff, William Zitter, Carolyn Agee and Joseph Touma, all of Huntington.

Also, the board approved five additional tax credits, pending the clearance for the investors from the tax department. Those receiving credits totaling more than $1 but not more than $50,000 included Lee Haikl, Paul Blom, Arthur Weisburg, Matt Miller and Touma, all of Huntington.

In final loan approvals, the board approved a $1.62 million loan to 5S, LLC and a $675,000 loan to Total Recycling Solutions LLC. Both projects are in Ravenswood.

The board gave preliminary approval to two loans, including a $695,000 loan to W.A. Wilson & Sons Inc. for the purchase of glass tempering equipment for its Wheeling facility and a $790,000 loan to HAGO Co. to help finance a 25,000-square-foot expansion.

Also, the board increased a loan commitment - from $2 million to $4 million - to the Ohio County Development Authority. The money will be used in the expansion of The Ziegenfelder Company Inc.'s facility in Wheeling.

Reach Sarah K. Winn at sarahkw...@wvgazette or 348-5156.

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