Fort Henry Restoration Awarded $1.2M Federal Loan
U.S. Senators Shelley Moore Capito, R-W.Va., and Joe Manchin D-W.Va., members of the Senate Appropriations Committee, today announced $10.492 million from the U.S. Department of Agriculture’s Rural Development Loan program for four locations in West Virginia. These funds will be used for a variety of projects across the state to increase economic development and access to business capital.
Locally, a Rural Development loan in the amount of $1.24 million was awarded to Fort Henry, LLC for restoration of the historic Fort Henry building in downtown Wheeling.
“In order to spur economic development in West Virginia, resources must be made available so that local businesses can make necessary improvements, increase operations, and save jobs. Investments like these will expand opportunities for our residents and help support our local economies. USDA continues to be a steadfast partner in West Virginia, and I am thankful for their commitment to assisting economic growth in Appalachia,” Capito said.
“West Virginians are some of the hardest working people in America, they just need to be given the chance to prove it,” Manchin added. “I am pleased to see the USDA is giving West Virginia projects the chance to prove themselves. Rural development is vital to growing our regional and state economies, and these projects are great examples of the potential tourism, energy development, and services that are possible when we have the resources needed to expand our communities and businesses. I look forward to seeing the completion of these projects and the positive effect they have on our state.”
In addition to the USDA loan for the Fort Henry building, other Rural Development loans awarded in other West Virginia communities were:
* MAA Elkins Hospitality, LLC – $6.7 million: This Rural Development loan will be used to acquire and make improvements to the Hampton Inn hotel in Elkins.
* Nacelle Equipment Funding 2019, LLC – $1.622 million: This Rural Development loan will be used to purchase compressors and mobile gas conditioning units, among other related equipment to energy services in Morgantown.
* The Lifehouse, Inc. – $930,000: This Rural Development loan will be used to purchase two buildings to be converted into temporary sober living facilities in Huntington.