into the challenges West Virginia faces, particularly in areas such as motivating change and improving workforce participation.
Herridge describes the state’ s economic growth as moving in three ordinate directions: retaining businesses, expanding upon those businesses and bringing in new businesses. This three-pronged strategy helps ensure the state is primed for future advancements, sees steady job growth and is set up for outside investments.
“ I do believe there’ s been a lot of work to prime us, and that has primarily been around investing in current businesses and making them stronger, but at the same time looking for sites that are shovel ready and attracting other businesses to use them,” Herridge says.
While economic development relies heavily on investments and other monetary aspects, Herridge says that people, skills and mindsets matter just as much when developing the state.
“ Growth happens when businesses see opportunity and when people see a future,” he says.“ That’ s why we’ re committed to making West Virginia a place where companies want to expand and where young talent chooses to stay. The key is showing them— not just telling them— the real opportunities that exist here.”
This includes seeking out people with skilled trades, such as engineers, electricians and plumbers, who can be trained at nearby vocational centers and employed in the state’ s energy sector, which is currently especially attractive to new businesses.
“ How do we take students and expose them to some opportunities within this digital world that can create careers for them?” Herridge asks.“ I think it’ s working closely with our universities, career centers and vocational centers to develop them.”
When new businesses do settle down in the Mountain State and need to hire multiple employees, Herridge says the Department of Commerce and West Virginia Department of Economic Development( WVDED) implement certain strategies, such as a rapid response approach to closings, to help in the recruitment process. This approach involves reaching out to individuals coming from companies that shut down to connect them with these new opportunities.
“ We’ re collaborating with our workforce team relative to job openings and needs to evaluate how we can help direct people and companies toward each other after these situations,” Herridge says.
Another stepping stone to attracting people to live and work in West Virginia is expanding its affordable housing options. Herridge explains that as housing is currently in a difficult spot in the state, new incentives for builders to create more residential facilities may help.
He specifically mentions the Build WV Act— a program that provides tax incentives to developers for building affordable housing in designated areas of West Virginia— and the benefits of its expansion across the state.
“ We want to incent builders everywhere in the state of West Virginia, and that could be something that could be expanded,” Herridge says.“ The good news is most of those regions cover a great part of the population density right now.”
With a law degree and master’ s in energy policy, Nicholas Preservati, deputy secretary of the Department of Commerce, has more than 25 years of experience as a C-suite executive, general counsel and litigator in the energy sector. He has defended major energy clients, managed complex litigation and advised lawmakers on energy policy. His work also includes drafting key state statutes that shape energy law.
Through his additional role as vice chair of the West Virginia Public Energy Authority, he helps drive the state’ s energy strategy. He has built a global network of energy experts, giving him broad insight into both national and international energy issues.
Preservati puts a large emphasis on energy harboring much of the state’ s potential for growth and describes West Virginia’ s
Preservati attends the West Virginia Economic Development Council Legislative Conference. Photo by the West Virginia Department of Commerce.
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