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W.Va. Gov. Earl Ray Tomblin Releases July Edge Business Report
Date:7/31/2013

allenges such as creating new jobs and more competitive industries. Registration is now open to conference attendees and project presenters. For more information, click here.

Fitch affirms West Virginia’s bonds stable ratings outlook

Fitch Ratings has affirmed West Virginia’s bond ratings: AA+ for general obligation debt and AA for both West Virginia Economic Development Authority (WVEDA) and School Building Authority (SBA) debt with an overall stable rating outlook. Fitch cited the “state’s focused and disciplined approach to addressing long-term liabilities and maintenance of sizable reserve balances.”

WVEDA approves resolutions to fund three projects

During its June meeting, the West Virginia Economic Development Authority approved an increase to an existing loan and a new loan. WVEDA also approved refunding request.

  •     Analabs Inc., $900,000, to finance the new equipment and the expansion of its current facility in Crab Orchard, Raleigh County. Founded in 1987, Analabs is a regional analytical laboratory providing drug testing and environmental testing for corporations.
  •     Thelma Daisy Real Estate Company, $360,000 increase to existing loan due to changes in building design. The facility in Clarksburg, Harrison County, will be leased to Valley Supply Company, a wholesaler/distributor of HVAC (heating, ventilation, air conditioning), plumbing, pipes, valves and fittings product lines.

WVEDA also authorized the issuance of $65 million in Solid Waste Disposal Facilities Revenue Refunding Bonds for Ohio Power Company’s Mitchell Project. The action allows the company to refinance the bonds for interest savings.

WVCAP approves investments in two companies

The West Virginia Capital Access Program (WVCAP) approved investments in two compan
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