Business Grant Money Report: ; Grants Create Fewer Jobs Than Expected; Program has Spent 59.7 Percent of Funds
Charleston Daily Mail › January 19, 2006
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Summary
Grant helped pay construction debt The Clay Center for the Arts & Sciences, which cost $120 million, received a $3 million grant to help pay down its construction debt. It reported creating 139 full- time jobs and 460 part-time jobs. Pullman received $10.6 million Huntingtons Pullman Square, which cost $54.6 million, received a $10.6 million grant. The first portion of the complex opened in November 2004. But for the period from July 1, 2004 to June 30, 2005, the project reported creating no construction jobs, only three permanent full-time jobs and just one part-time job.
Resort got $4.5 million The Stonewall Jackson Resort, which cost $64.7 million, received a $3.5 million grant from the West Virginia Economic Development Grant Committee. Also, the Legislature redirected $1 million in grant money to the resort last March to help it make a debt payment. The resort, which is near Weston, said it has created 96 permanent full-time jobs.See the full content of this document
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Business Grant Money Report: ; Grants Create Fewer Jobs Than Expected; Program has Spent 59.7 Percent of Funds
BALLPARK RECEIVED $12 million Charleston's Appalachian Power Park received a $12 million grant nearly half of the park's $23 million total cost. The city reported that the project created 150 construction jobs, six permanent jobs and 100 part-time jobs.
DAILY MAIL BUSINESS EDITORFewer than 1,000 full-time jobs have been created two years after state officials approved $224.8 million for economic development projects around West Virginia.And, so far, only $134.4 million of the money - 59.7 percent - has been spent; $90.5 million sits in a bank account earning interest.A labo...See the full content of this document
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