WVU Tech's LaunchLab will share in a $747,123 economic development investment award that will assist the WVU LaunchLab Network facilitate small business development and foster economic growth.
According to the office Sen. Shelley Moore Capito, who announced the awards Wednesday in Randolph County, LaunchLabs provide students and local entrepreneurs with assistance through the expansion of the existing LaunchLab in Morgantown and the establishment of the LaunchLab in Beckley.
Capito joined Economic Development Administration (EDA) Acting Head Dennis Alvord, as well as local business and development leaders, to make several major economic development announcements Tuesday.
A $2.5 millionEDA grant will support the expansion of Armstrong Flooring, a manufacturing facility located in Beverly. As Randolph County’s largest manufacturing employer, this investment is expected to create 50 new jobs, retain 60 existing jobs, and generate approximately $16.2 million in private investment.
Later, at the Wood Technology Center in Elkins, additional EDA grant funding of $8.235 million to support state-wide projects furthering manufacturing, entrepreneurship, infrastructure and planning.