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Partly cloudy. Low 57F. Winds light and variable.
Governor Justice, surrounded by state leaders and the team from Berkshire Hathaway, signs the bill that paves the way for development.
Governor Justice, surrounded by state leaders and the team from Berkshire Hathaway, signs the bill that paves the way for development.
CHARLESTON, W.Va. (WV News) -- The economic future of Jackson County and West Virginia made a gigantic leap today with the announcement of Berkshire Hathaway Energy choosing to locate here.
The company, headed by Warren Buffett, has made a substantial commitment with its agreement with the West Virginia Economic Development Authority to purchase the former site of Century Aluminum near Ravenswood.
Governor Jim Justice and state officials formally announced the venture that will see a renewable energy powered plant making titanium for the aerospace energy. Precision Castparts/Timet will be the titanium producer with Berkshire Hathaway supplying the solar power resources.
“Years ago, we were seeing so many people leaving our state,” Governor Justice said. “But we now have good jobs here and this is a prime example.”
This $500 million dollar investment will see a minimum of 200 jobs with a potential for far more. It is projected to be completed within the next three years with hopes that more manufacturers will be interested in the site.
Alicia Knapp, president and chief executive of BHE Renewables, said it was the hope of her company that more will build upon what was started today.
Knapp had another announcement to make.
“To show our commitment to this area and its people, we are donating $500,000 to United Way Alliance of the Mid-Ohio Valley,” she said. “This will benefit the people of Jackson County and neighboring areas in many ways.”
The impact on lives was the focus for Mitch Carmichael, State Development director.
“We are transitioning to a world-wide economy,” he said. “I know that these jobs will change lives and things will only get better.”
The most surprising part of this announcement was how it all started. It was a simple letter sent to nine potential investors.
Senator Glenn Jeffries, D-Putnam, was driving back from a meeting at West Virginia University. He said he began to look at the potential of property and towns on his trip back home.
“I started thinking about a letter just inviting investors to consider this great state,” he said. “One of those was Warren Buffett. I’ll be honest, I didn’t think I had much of a chance of the letter being read but I thought, if we don’t try, we’ll never achieve anything.”
Two weeks after sending that letter, he received a call from Buffett’s company.
“I remember it was at 1:50 p.m. on a Thursday and when they told me they were interested in what we had to offer, I just fell to my knees,” he said.
It took several months for the deal to be finalized. And it also took legislative action which occurred on Monday, September 12 in a special session. The governor signed the bill which establishes a couple of districts which allow the sale of renewable energy to another entity at the September 13 ceremony.
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