HANCOCK COUNTY, W.Va. (WTRF) – The final step before FORM Energy Inc. breaks ground in Hancock County on an iron-air battery manufacturing facility just awaits Governor Jim Justice’s signature.
House Bill 2882 has been approved by both the West Virginia House and Senate.
For someone who grew up in Weirton like I did this really means a lot.State Senator Ryan Weld, (R) Majority Whip, 01-Brooke
It would provide part of a financial incentive package for FORM Energy to come to the Mountain State.
The bill approved $105 million to be transferred to the Economic Development Project Fund.
However, that money is not being given directly to the company.
What the money is being used for, it’s going into an escrow account and being used to fund the purchase of the property and then build their 450,000 square foot manufacturing sight. Then the state is going to continue to own the land and the property so we have security. We have collateral in our investment.State Senator Ryan Weld, (R) Majority Whip, 01-Brooke
Senator Weld explained that this way the state is protected.
Once the Governor signs the bill, he said FORM Energy can start to break ground, since they already have contracts in place for future orders.
I talked to a company official who said that it is their plan to win over their doubters by being successful. They are singularly focused on that at this point in time, being successful, and coming through not just for the people they have contracts to sell their products to, but for the people who are going to work there and will benefit from this.State Senator Ryan Weld, (R) Majority Whip, 01-Brooke
Weld said he has “no doubt” that the Governor will approve the bill quickly.