In a stunning development, without local public notice or knowledge, the West Virginia Economic Development Authority (WVEDA) approved issuance of up to $150 million in bonds to support Rockwool’s unwelcome and unwanted industrialization of Jefferson County. This information was discovered in responses to Freedom of Information Act (FOIA) last week.
Letter sent to public officials demanding public hearing
Jefferson County Foundation (JCF) and Jefferson County Vision (JCV) have written the Governor and other key officials, demanding accountability for the action and transparency about how this significant “sweetheart” deal came to be. Dr. Christine Wimer, President of JCF, stated, “Rockwool is not welcome here and the entire community has spent over a year making that clear in every forum or process available. Even in the face of overwhelming public opposition, and unknown to the public until now, government officials in Charleston authorized financial assistance to ensure Rockwool is the first of a heavy industry corridor that destroys our way of life.”
The letter details information, obtained under FOIA, that in a May 2 meeting in Charleston, the WVEDA also committed to take ownership of Rockwool’s land and equipment alleviating Rockwool’s state and local tax burden for a period of 10 years. At the end of this time, Rockwool will reclaim the property and equipment for the price of $1. This is, essentially, the same deal as the PILOT agreement, which was found invalid on its in August by the Circuit Court.
Deliberately deceptive deal
The FOIA documents expose that Rockwool’s lawyers, and several state officials involved in the recruitment of Rockwool to West Virginia in 2017 were present and involved in the May 2 WVEDA meeting. Dr. Wimer continues, “this was a deliberate deception of the public, quietly executed to provide one of the largest such economic packages to a corporation ever in West Virginia.” The $150 million would amount to approximately $1.25 million in loans per promised job in a county with the lowest rate of unemployment in the state. This would be in addition to a $2.2 million free money loan already promised by the state for the training of the workforce for these jobs. “It is an outrage — $150 million to poison our air, land and water, with at least ten years of reduced state and local tax obligation. It’s no wonder that Charleston kept it so quiet.”