The state will be kicking in millions toward what is reportedly a $125-million investment by the company Babcock & Wilcox (B&W), in Mason County, according to Gov. Jim Justice and a discussion at Friday’s special meeting of the West Virginia Economic Development Authority Board of Directors.
The EDA approved its agenda item to authorize up to $10 million in an economic incentive package from the Economic Development Project Fund to support what EDA officials identified as the B&W project. Agency Deputy Executive Director Todd Hooker said B&W would invest $125 million in Mason County and briefly noted its BrightLoop technology. Hooker said 28 “well-paying†jobs were expected from the project. Agency executive director Mike Graney said the project could expand into up to a $1 billion investment employing up to 200 people and heating several million tons of coal.
The EDA also approved authorizing up to $10 million in an economic incentive package to support a project in or near Buckhannon — the Prime 6 manufacturing site announced Wednesday. The company has agreed to move its corporate headquarters from New York to Buckhannon, Mitch Carmichael, secretary of WV EDA, said.
During his Thursday media briefing, the governor took questions on his announcement the day prior regarding B&W, described in a news release by the governor’s office as a “global leader in energy and environmental technologies,†coming to the Mountain State.
When asked about B&W during Thursday’s briefing, Justice stated the company was vetted by “our economic development folks.â€
When asked about where the company planned to locate in Mason County, the governor said he didn’t know the specific site but, “I can tell you, that what’s been represented...to me, is Mason County.â€
The news release from the governor’s office earlier this week, stated, in part, “Babcock & Wilcox’s investment will focus on the deployment of their BrightLoop low-carbon hydrogen technology, a pioneering approach to hydrogen production. This cutting-edge technology leverages a novel chemical looping process to produce low-carbon hydrogen, steam, or syngas while isolating carbon dioxide (CO2) for capture and storage.â€
When speaking about B&W’s technology as it relates to this project, Justice said on Thursday, “I’m anything but an expert on the technology. I understand people’s skepticism... We welcome them. They’re going to be spending significant money in West Virginia, it could blossom into magnificent money.â€
Energy and Environment reporter Mike Tony contributed to this story.
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