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We're new to our involvement with the area, but from what we can tell, right off the bat hundreds of those people will be offered jobs at WVU Medicine as a result of their children's hospital expansion, although some retraining will be required. Also, there is growth in the energy sector there that will employ many in power generation, and a new company is locating in Monongalia County that plans to hire 1,000 people. They are also aggressively seeking a replacement operator for the facilities that will be vacated. Their local experts expect that there will, however, be about a 2 year adjustment effect that will have negative implications. Overall, they expect growth impetus to overcome the loss within that time frame.
I’m not sure what You are talking about with the power sector, but if it is Longview, that will more than likely be a net loss in long term jobs.
Not sure about that, I was just mentioning what I read in economic reports. Morgantown also expects a significant uptick over time in research spending and activity since West Virginia University is the lead university for research on the Hyper Loop project. Other schools in the Pittsburgh area and the State of West Virginia are also expected to benefit from that, including community colleges.
We're new to our involvement with the area, but from what we can tell, right off the bat hundreds of those people will be offered jobs at WVU Medicine as a result of their children's hospital expansion, although some retraining will be required. Also, there is growth in the energy sector there that will employ many in power generation, and a new company is locating in Monongalia County that plans to hire 1,000 people. They are also aggressively seeking a replacement operator for the facilities that will be vacated. Their local experts expect that there will, however, be about a 2 year adjustment effect that will have negative implications. Overall, they expect growth impetus to overcome the loss within that time frame.
WVU Medicine - the people let go from Mylan are not nurses or doctors etc. A few people may be able to matriculate to WVU Medicine, but will be at a faaaar lower wage than their old job. Certainly not hundreds of people heading to WVU.
Hyper Loop - large investment yes, but is expected to generate $48 million annually. Which makes up about half of what is being lost by the plant closure in Morgantown.
DST Innovations - We shall see. I think this is false hope, particularly among the 'Bring Coal Back' individuals. Looks pretty light on details. Will this be the same at the $50 Billion China investment from a few years ago?
Replacement Operator of current facility - no pharma company is going to take it over. Just not happening. Total pipe dream. Maybe a nutraceutical, but that is unlikely in my opinion.
Overall, I see this as the story of WV. Loss of jobs, plant shut downs, and ultimately driving the young/educated away.
Agree with 1871 on this....and yes...there are people on this board impacted by this news......
You could be right, but the experts are saying that the pain will be for a couple years, and other growth factors will bring it back to status quo by then. If the coal conversion things goes through, they are saying it will be growth mode again. I'm talking about the local economy in Morgantown, not necessarily semi skilled workers positions. A lot of retraining might be required there. I'm hearing that a big severance package will help with that though.
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