MORGANTOWN, W. Va.–The process of finding a new purpose for the former Mylan facility in Morgantown was an effort that took time, multiple organizations and the confidence of Viatris in the team.
On WAJR’s Talk of the Town, Monongalia County Commissioner Tom Bloom said federal and state elected officials also played a key role in closing the $1 dollar deal to transfer the former Chestnut Ridge Road facility from Viatris to the WVU Innovation Corporation.
“We could not have done if the state, the feds and county weren’t working together with WVU, who took the leadership role,” Bloom said.
Economic development planning is normally very strategic and confidential. Bloom is pleased this deal was landed, but acknowledges there are many meetings and offers considered by multiple parties until a suitable options for all parties emerges and is agreed to.
“That’s the difference- Monongalia County commissioners, and with WVU, are thinking six months ahead and that’s only way to solve this problem,” Bloom said.
Private companies that move into the building will not be exempt from property tax. Bloom said WVU has agreed to a voluntary arrangement used in other deals with private entities to preserve that municipal revenue.
“What WVU was willing to do is increase the revenue for the rent that would pay the difference of property tax lost,” Bloom said. “Then they would voluntarily give it to us.”
The facility is more than 1 million square feet. WVU has announced some plans for new lab space, but the remaining area would be dedicated to private businesses and start up companies.
“We have a building that can be modified for the needs of what we’re looking for, so we’re going out and meeting with businesses to see if they would be a perfect fit,” Bloom said.