The Morgantown TIF bill has been signed into law.
Governor Earl Ray Tomblin signed the bill Tuesday evening in front of a large crowd during the WVU/Pittsburgh baseball game in Morgantown.
The bill, which was passed in a special session following the regular legislative session, would clear the way for a new WVU baseball stadium, interstate interchange and business development in the Morgantown area.
Tomblin said this bill means about $100 million of investment in the area.
“That means construction jobs, that means permanent jobs and a new home for the WVU baseball team,” said Tomblin.
The plan would create a special tax district that would allow some of the revenues to be used to finance the projects and pay for the infrastructure necessary.
The bill failed to pass in the 60 day regular session because the House wanted the Senate to deal with a magistrate pay raise bill. It never happened and the proposal was brought up in special session where it easily passed both the House and the Senate.
Some lawmakers predict the Morgantown project will create around 1,100 construction jobs and as many as 1,500 permanent jobs which will in turn benefit the entire region.
Tomblin said he looks at it as a complete economic development project, one that is supported by everyone in Monongalia County.