MORGANTOWN, W.Va. — The governor is expected at Thursday’s ribbon cutting that will officially mark the opening of a new exit along Interstate 79 in Monongalia County.
The $22 million interchange, exit 153, connecting the University Town Centre to the West Ridge Business Park was a plan on paper a relatively short time ago.
“The amazing thing is one year ago we were all standing looking over a precipice of just vacant land across where the West Ridge development is going on right now. Literally in one year, this entire interchange has been built,” commented Ed Hawkins, Monongalia County Commissioner.
In 2013, the state legislature approved a bill to create a tax increment sales tax district (TIF) that would use revenues created from development to pay down the bonds to finance it. The Monongalia County Ball Park was constructed along with a WVU Medicine facility with a number of retail developments to come.
“We’re looking at $200- $400 million of investments. We’re talking about thousands of jobs and not one penny coming from the state to set this in motion and not one penny coming from taxpayers currently paying for this,” noted Tom Bloom, Monongalia County Commissioner.
Almost simultaneously in 2015, the development on the west side of the University Town Centre began along with the construction of the bridge connecting both sides of I-79.
Monongalia County Commission President Eldon Callen has said all along the TIF is about more than just the town centre or even the budding business park.
“The web of roads, 4 lane roads, Route 19 will be improved down to Shady Grove. This whole area is not only going to advance the western part of Monongalia County but the entire region.”
An economic impact study of the entire development on both sides of the interstate predicted a $1 billion economic impact on the region annually. The impact study indicated the TIF district and incoming developers could support 9,900 jobs by 2025.
“People are already ready to build, put millions of dollars into new commercial. And, that’s their private investment,” Callen predicted.
Between I-79’s Westover and Star City exits, traffic is heavy. The interchange is expected to improve flow on that section of the highway.
“You can see the traffic actually bog down before you get to the town centre to get off right there. It actually slows down. This will hopefully alleviate that,” explained Hawkins.
A Fed Ex distribution center is said to be opening September 15.
Bloom said the entire development including the infrastructure improvements and additions could be an example to spark economic growth and improvement elsewhere.
“I believe this is a good example of what could happen in all parts of the state of West Virginia. And, we need to look at this in the southern part of the state as well.”
Both Bridgeport and Wheeling have developments created from tax increment financing.