Although a small group attended the event, the news released was big for the state, as the study conducted by Chmura Econo-mics & Analytics, headquartered in Richmond Va., showed the King Coal/ Tolsia Highway will have an overwhelming impact financially on the state when opened. Executive Director Mike Mitchem said construction and the existence of the highway will inject hundreds of millions of dollars into the state. The annual economic impact is estimated to be $220.3 million that sustains 2,020 jobs after construction is complete in the counties of McDowell, Mercer, Mingo, Wayne and Wyoming. The highway will provide jobs for workers in construction, retail, service and warehouse industries.
After the highway is complete, the state should receive $12 million in annual tax revenue while taxes for local governments will be around a half million. The road may also attract distribution centers which will each average an estimated $42 million in economic output and 254 new jobs in 2020. Although the economic impact could be lessened by economic downturns, explained Mit-chem, other funds should be generated by additional projects including the Pritchard Intermodel Park in Wayne, federal prison in McDowell, or the Coal Gasification Plant in Mingo.
The entire corridor, I-73/74, will travel from Sault Ste. Marie Mich., to Mrytle Beach SC. In West Virginia, it will connect Bluefield to Kenova near Huntington cutting down travel time by one and a half hour, which officials hope will also be a safety benefit.
“According to census figures there are over 63 million people along this route or around 21 percent of the US, and this should help the West Virginia economy and tourism when the road is completed,” said Mitchem.
Mitchem handed out copies of the economic impact study at the press conference, however a copy of the report can be seen on the King Coal Highway Web site. Individuals can visit http.//www.wvkingcoal.com/default.aspx. and click on economics to view. Further information or questions can be addressed to Dr. Christine Chmura at 1-804-649-1107 or Mitchem at 304-664-6200.
This will have such as impact on Mingo County.
Hah Hah. Who is their right mind would visit these places unless you lived here or had family here. This is a lot of hype B. S. Only thing King Coal Highway is doing for Mingo County is helping wash it away, so that the area will become condemed and the state or Mingo County can buy property for nothing and turn it into a playground for the Hatfield McCoy Trails. Wake up people.