Billions in new investment, small businesses support and daycare among topics discussed at Chamber Business Summit

“I believe Black business owners must think more broadly about the types of businesses we open and operate.”

That’s what Delegate Hollis Lewis, D-Kanawha, said while reflecting on the way Black businesses could be impacted by the reported business expansion and new investment.

“New technologies are creating new opportunities, and those opportunities can take many forms,” Lewis added.

Billions In New Investment, Small Businesses Support And Daycare Among Engaging Topics At Chamber Business Summit

New investment and business expansion were among trendy topics at the West Virginia Chamber’s 90th Annual Meeting and Business Summit.   Held earlier this month, the event drew over 1,300 attendees at The Greenbrier in White Sulphur Springs.

West Virginia Chamber President Steve Roberts shared with Black By God a record crowd learned about daycare for working parents and assistance for small businesses. They too heard announcements about billions of dollars in new investment in power generation and data centers.

“A growing economy helps everyone succeed and thrive in West Virginia.”

Data Centers spurring new economic growth

Gov. Patrick Morrisey spoke about over $81 billion in new investment at the milestone conference, according to this news  release. The outlay is led mostly by two crucial data center projects from NScale and Starwood Digital Ventures. Those endeavors show the domino effect and massive impact of West Virginia’s vast energy resources.

“In less than one year, we have secured approximately $96 billion in private sector investment and more than 19,000 projected jobs,” Morrisey stated.

It was disclosed  that Starwood intends to invest $12 billion in the state and fund infrastructure costs. Also, the firm declares the project is anticipated to produce over 1,000 jobs during construction and 300 continuing jobs upon completion.

Divided reaction from observers

Still, based on that report and another one here, data center undertakings have prompted drawbacks from residents and supporters of economic development supporters. West Virginia is among places across America where data centers have become a growing concern in many areas. Fears have been abundant, including sparce input from communities on the facilities’ development. 

Nevertheless, an enterprising creation surfaced with Dr. Erienne Olesh, CEO of Resilient Energy Technology & Infrastructure Consortium. In a transcript,  he expressed how the initiative has been awarded $160 million from its federal partners, the National Science Foundation.  “Our partner network has collectively committed an additional $161 million to that effort. So, this is really a $321 million investment in our region to address critical issues like energy resilience.”

All told, some of West Virginia’s most powerful decision makers. including corporate leaders, Black business owners and policymakers, gathered at the three-day event. Many topics were reviewed, including education, the economy and artificial intelligence getting a lot of attention. Roberts indicated that job creation and health care seemed to get the most discussion among members.     

And there was an agenda session on “Supporting Small Business in West Virginia.”  Those businesses account for 95% of the chamber companies and firms, accounting for “the core” of its  membership.   No figures were given on how many Black businesses are current chamber members or the cost to join.  

Obstacles and Opportunities for Black Businesses

Del. Lewis noted emerging industries such as data centers and nuclear energy offer opportunities for Black-owned businesses to position themselves at the forefront, not only as primary operators, but also as contractors, subcontractors, suppliers, and service providers.

Lewis declared Black businesses in West Virginia face many of the same challenges as other businesses, including limited access to funding, supply chain disruptions, federal tariffs, and the everyday difficulty of maintaining a positive profit-and-loss statement.

However, he remarked he does not believe the question is simply what the summit can offer Black business owners. He says the responsibility is also on us to collaborate more, think more broadly about the types of businesses we own and create, and strengthen connections within our communities. “By intentionally developing these networks, we can foster better business relationships and create more opportunities for shared growth.”

Daycare and Education of Great Interest

The agenda showcased many topics, including an overview titled “The Economics of Investing in Childcare.” It was reported the panelists maintained more assistance is needed in that space.

Further, there was an elite Black presence on hand. Take Dr. Ericke Cage, president of West Virginia State University and a HBCU. A panelist, he reflected (https://blackbygod.org/articles/news/college-presidents-talk-education-partnership-how-wvsu-is-positioning-itself-for-the-future-at-chamber-business-summit/) on a lingering partnership between two higher leaning institutions. He talked about how WVSU is establishing itself to build a stronger future for people, according to Black By God.

A Broad Spectrum of Leaders Share

Some high-profile speakers included Republican West Virginia senators Shelley Moore Capito and Jim Justice, Brian Abraham, president & COO of Appalachian Power, and Chris Stirewalt, a national news correspondent.  And the presidents of Marshall University, and West Virginia University were present and spoke. Check out the entire agenda here.