CHARLESTON, W.Va. -- After months of negotiations, Gov. Joe Manchin announced Thursday that the state would take control of the South Charleston Technology Park.
"The deal is going to be done," Manchin said during a news conference at the state Capitol.
The state Higher Education Policy Commission, which oversees public colleges in West Virginia, is expected to vote next week to accept 258 acres at the tech park from Dow Chemical Co.
Dow has agreed to sign a three-year lease to rent office space at Building 2000 at the tech park after the state takes over the property.
Dow also will give the state $10 million to spend on renovations and operating costs during the next eight months.
Manchin said the state might use $3.4 million of Dow's contribution to buy out a steam plant contract at the tech park. The governor said Duke Energy, which owns the plant, is willing to make a deal.
Manchin said Dow and state officials plan to meet Sunday to develop a binding agreement for the state government takeover of the tech park property.
The state would formally become the park's new owner on Dec. 15.
Manchin said he has handed off the proposed deal to lawyers for Dow and the higher education commission.
"It's going to be a good deal for the state of West Virginia," Manchin said. "It's a deal we can't walk away from."
Jim Guidarini, who manages Dow's West Virginia operations, said the donation would help the company get out of the "landlord business." Dow has acknowledged that the donation will reduce its financial liability and taxes.
"It's a good deal for all parties," Guidarini said.
CHARLESTON, W.Va. -- After months of negotiations, Gov. Joe Manchin announced Thursday that the state would take control of the South Charleston Technology Park.
"The deal is going to be done," Manchin said during a news conference at the state Capitol.
The state Higher Education Policy Commission, which oversees public colleges in West Virginia, is expected to vote next week to accept 258 acres at the tech park from Dow Chemical Co.
Dow has agreed to sign a three-year lease to rent office space at Building 2000 at the tech park after the state takes over the property.
Dow also will give the state $10 million to spend on renovations and operating costs during the next eight months.
Manchin said the state might use $3.4 million of Dow's contribution to buy out a steam plant contract at the tech park. The governor said Duke Energy, which owns the plant, is willing to make a deal.
Manchin said Dow and state officials plan to meet Sunday to develop a binding agreement for the state government takeover of the tech park property.
The state would formally become the park's new owner on Dec. 15.
Manchin said he has handed off the proposed deal to lawyers for Dow and the higher education commission.
"It's going to be a good deal for the state of West Virginia," Manchin said. "It's a deal we can't walk away from."
Jim Guidarini, who manages Dow's West Virginia operations, said the donation would help the company get out of the "landlord business." Dow has acknowledged that the donation will reduce its financial liability and taxes.
"It's a good deal for all parties," Guidarini said.
Dow now has about 130 employees at the tech park. Under the multi-year lease stipulation, Dow would agree to rent 65,000 square feet of space at the tech park, Manchin said.
The Kanawha Valley Community and Technical College -- now located on West Virginia State University's campus in Institute -- would start moving to the tech park in about a month and use about 80,000 square feet of space at Building 2000.
The higher education commission and Council of Community and Technical Colleges, which have about 80 employees combined, would take up the remaining offices at the building.
The state Department of Agriculture will move its lab facilities from the Sissonville area to Building 740 on the tech park.
To reduce the state's operating costs, the state plans to "mothball" Building 770 -- the other lab building on the site.
Meanwhile, the state plans to build a $15 million advanced technology-training center near the tech park's front entrance.
State higher education officials said Dow's $10 million contribution would be used mostly for operational costs, such as utilities.
Manchin said the state plans to try to lure "top-notch" private research and engineering firms to the tech park.
"We have a lot of opportunities," the governor said. "We will work with Dow to ensure the park is successful."
The site will be renamed the West Virginia Educational and Technical Research Park.
"This is about our future," said state Sen. Brooks McCabe, D-Kanawha. "It's about being first class in research and emerging technologies and the new economy."
Reach Eric Eyre at erice...@wvgazette.com or 304-348-4869.
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I assume you do have a vested interest in this state take of tech center park.
And why would someone have to eat crow, when all these naysayers (as you call them) are just asking legitimate "legal" questions about the state taking over the tech center ??
All the naysayers will have to eat crow when this park becomes an economic engine for creating good private sector jobs in a depressed area.
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I agree myop, but what you got here with the state taking over the Dow tech center is. Connect the dots of all parties that is involved in state goverment or have influence of state goverment.Take Sen Brooks McCabe when he endorses such a venture as the state taking over the tech center, you can see the $$$$$$$$ signs in his eyes for him and his kanawha valley property holdings.
And now there is a question can the state legally be a landlord to these private companys that occupies space at the tech center, that is a non profit organization that relys on state and city grant money ?