By Greg Jordan
For Bluefield Daily Telegraph
Charleston — West Virginia’s governor announced Thursday that a company is investing $4 billion to create a high impact intelligence center that create jobs for the Mountain State.
Gov. Patrick Morrisey said during a conference live streamed from Charleston that Penzance Management was making a historic private-sector investment that will result in a total capital investment of $4 billion at full build out, a project that will create jobs, strengthen local infrastructure, and fund community programs in the Eastern Panhandle.
“I want to start by saying West Virginia is on the move thanks to so many people in this room and the work of our team and those who came before us, and this incredible company behind us,” Morrisey said at a lecture bearing the sign Mountain State Momentum. “West Virginia is poised for so much success into the future. From our cities to our smallest towns, we’re building momentum and we’re doing it through responsible leadership, economic growth and a renewed focus on opportunity for every West Virginia family.”
Morrisey said that when he took office last year, he was going to work on making West Virginia more competitive with the states it touches. This goal involves increasing energy production, cutting red tape faster than other states, lowering regulatory barriers to investment, investing in infrastructure and investing in the state’s workforce.
“This $4 billion investment is a historic win that proves West Virginia can compete at the highest level for the global tech economy,” Morrisey said. “By earning the state’s first High Impact Intelligence Center designation, Penzance is helping us transform the Mountain State into a powerhouse for artificial intelligence and cloud computing. This project brings a massive new revenue stream to our communities — all driven by private capital and our commitment to a business-friendly, reliable energy strategy.”
As part of its investment, Penzance’s Bedington Campus has officially earned designation as West Virginia’s first High Impact Intelligence Center. The campus will be located on 548 acres in the Falling Waters District of Berkeley County. At full buildout, the development will total approximately 1.9 million square feet and deliver 600 megawatts of critical IT capacity, putting West Virginia on the path to compete in the global race to power artificial intelligence, cloud computing, advanced manufacturing, and supercomputing.
The project is expected to create around 1,000 construction jobs and 125 full-time permanent positions, with additional growth potential as the campus expand, said Morrisey, who added that no state funding was used for this project. The investment represents private capital choosing West Virginia because of the state’s competitive business climate and energy strategy.
“West Virginia has created a truly business-friendly environment for companies investing in digital infrastructure,” said Penzance Managing Partner and Founder Victor Tolkan. “Gov. Morrisey has championed policies that position the state as a leader in the data economy, and we’re proud to be part of that broader vision. Initiatives like HB 2014 and the High Impact Intelligence Center program demonstrate a clear commitment to attracting and supporting world-class intelligence center development. We look forward to a successful partnership with Berkeley County, the West Virginia Department of Commerce, and the State of West Virginia.”
The investment was made possible thanks to the state’s Power Generation and Consumption Act and House Bill 2002, legislation designed to streamline permitting, expand microgrid use, and allow companies to utilize coal, natural gas, and other reliable energy resources, Morrsiey said. By expanding microgrid capabilities and establishing a One-Stop Shop permitting portal, the state eliminated bureaucratic barriers and accelerated responsible development.
The project qualified for High Impact Intelligence Center designation by exceeding 90 megawatts of projected load, submitting detailed engineering and environmental plans, coordinating utility milestones, providing water and mitigation strategies, and demonstrating a long-term commitment to responsible development. Following review by the state’s Data Economy Office and Department of Commerce, the designation was formally approved.
Morrisey said that with Thursday’s announcement, his administration has secured more than $10.5 billion in new private-sector investment and more than 9,000 projected private-sector jobs since October. When combined with major federal commitments, including the Broadband Equity, Access, and Deployment Program and the Rural Health Transformation Program, total investment commitments under the current administration now approach $12 billion, supporting well over 10,000 projected jobs across the state.
Under the microgrid legislation , revenue generated from projects like this will be reinvested directly into West Virginia communities, the governor said. Fifty percent to a Personal Income Tax Reduction Fund; 30% to the host county; 10% distributed to all counties on a per capita basis; 5% to the Electric Grid Stabilization and Security Fund to help keep rates down; and 5% to the Economic Enhancement Grant Program.
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