PARKERSBURG – House Speaker Tim Miley was thrilled to take part today in the announcement that the Brazilian company Odebrecht plans to buy land in Wood County to build a multibillion dollar ethane cracker plant.
“This is a first step, but it is a huge step, probably the biggest of all steps that need to take place for West Virginia’s natural gas industry, and we will do everything we can to make this plant a reality, ” Miley said. “I have great faith in West Virginians and their work ethic, and this is an opportunity of a lifetime to improve West Virginia’s economy for generations to come, so that our children, and our children’s children, will have job opportunities here at home.
Governor Earl Ray Tomblin, joined by legislative and state leaders and company representatives, announced the planned acquisition today at the Caperton Center for Applied Technology. During the press conference, the businessmen cited West Virginia’s business climate – the state’s stable economy, climbing bond rating and no recent tax increases – as incentive for locating here.
“In the nine years I have been in office, state leaders have been working to ensure that West Virginia continues to be in a position to move forward economically,” Speaker Miley said. “This news is a definitive sign that the hard work and perseverance is paying off.”
In late 2011, while Miley was serving as Chairman of the House Judiciary Committee, the Legislature met in special session to finalize much-needed guidelines for the economically promising development of the Marcellus natural gas shale field.
“The governor and legislative leaders were in agreement that there was an urgent need for a regulatory framework to address the relationship between drilling operators and surface owners while providing environmental protections,” Miley noted. “We are excited that our efforts to provide a stable regulatory scheme for the extraction of Marcellus gas helped pave the way for this development.
“It confirms that our state is headed in the right direction – toward excelled job creation for our residents and further economic development for West Virginia.”