MORGANTOWN, W.Va. Commissioners in Monongalia County have approved an extension of the application for property and sales tax TIF districts in the western part of the county. The Monongalia County Economic Opportunity Development District includes WestRidge, University Towne Center, and the Gateway.
In 2012, the TIF was given a 30-year lifespan; the requested 15-year extension would extend the TIF through 2057. The sales tax TIF has been extended for 10 years.
During the public hearing, Ryan Lynch, WestRidge President, said since the district was formed in 2012, they have added about 2 million square feet and about 4,500 jobs in the area. Of the 2 million square feet developed during that time, about 1 million square feet were retail developments.
Lynch testified that there are about 50 acres ready to develop in WestRidge, and that number could easily expand to 200 acres for more expansion.
“By extending the district and approving the application, it allows us to create more flat land, extend more utilities, and extend more roadways,” Lynch said.
Tenants include the future (under construction) Owens & Minor Distribution and Light Manufacturing facility, FedEx, Leidos, financial services, retail, and fast food.
“If you look at it, it has worked, not only in this area but across the state,” Joe Statler, (R-Monongalia, 77) said. “I do see jobs coming in, and I see more jobs coming into Monongalia County.”
Continued development was recently threatened by a lack of water and sewer capacity, but a three-way agreement between state and local officials ended that concern. To fund the $14 million project, the Monongalia County Commission, Morgantown Utility Board (MUB), and WestRidge each agreed to pay about $3.6 million, with the balance coming from a grant from the West Virginia Water Development Authority.
Morgantown Area Partnership (MAP) President and CEO Russ Rogerson said WestRidge and the Morgantown Industrial Park have the most potential to draw jobs and economic activity to the area.
“We’ve had the pleasure of having a handful of visits from companies over the past few months and look forward to more visits from companies that will allow us to land those kinds of jobs and investments that I believe are the core of the economy,” Rogerson said.
Lynch said demand in some areas has dropped off, but overall business is good. Citing data over the last ten years, WestRidge expects to continue to be very competitive in the site development market.
“Not across all of those industries, but across some of those industries, demand is very high,” Lynch said. “So, we expect overall demand to continue over the next five, ten, and hopefully longer years.”
Granville Mayor Patty Lewis told the commission she is neither for nor against the extension and that her town supports economic development. But Lewis pointed out that the town will lose about $500,000 each year from the TIF from lost property tax revenue. She said the Granville budget this year is about $5 million, and about $3.1 million goes to public safety, putting into perspective the reduction in property tax revenue.
Approving the extension keeps the tax revenue in the local tax coffers.
“These are dollars that the legislature has allowed us to spend here locally that otherwise would have gone to the state,” Sikora said. “My only concern is that the county does its due diligence.”