Charleston, W.Va. - Today, Governor Morrisey announced a historic private-sector investment in West Virginia by Penzance Management that will result in a total capital investment of $4 billion at full build out, a project that will create jobs, strengthen local infrastructure, and fund community programs in the Eastern Panhandle.
"This $4 billion investment is a historic win that proves West Virginia can compete at the highest level for the global tech economy,” said Governor Morrisey. “By earning the state’s first High Impact Intelligence Center designation, Penzance is helping us transform the Mountain State into a powerhouse for artificial intelligence and cloud computing. This project brings a massive new revenue stream to our communities - all driven by private capital and our commitment to a business-friendly, reliable energy strategy."
As part of its investment, Penzance’s Bedington Campus has officially earned designation as West Virginia’s first High Impact Intelligence Center. The campus will be located on 548 acres in the Falling Waters District of Berkeley County. At full buildout, the development will total approximately 1.9 million square feet and deliver 600 megawatts of critical IT capacity, putting West Virginia on the path to compete in the global race to power artificial intelligence, cloud computing, advanced manufacturing, and supercomputing.
The project is expected to create approximately 1,000 construction jobs and 125 full-time permanent positions, with additional growth potential as the campus expands. Importantly, no state funding was used for this project. The investment represents private capital choosing West Virginia because of the state’s competitive business climate and energy strategy.
"West Virginia has created a truly business-friendly environment for companies investing in digital infrastructure," said Penzance Managing Partner and Founder Victor Tolkan. "Governor Morrisey has championed policies that position the state as a leader in the data economy, and we’re proud to be part of that broader vision. Initiatives like HB 2014 and the High Impact Intelligence Center program demonstrate a clear commitment to attracting and supporting world-class intelligence center development. We look forward to a successful partnership with Berkeley County, the West Virginia Department of Commerce, and the State of West Virginia."
The investment was made possible thanks to the state’s Power Generation and Consumption Act and House Bill 2002, legislation designed to streamline permitting, expand microgrid use, and allow companies to utilize coal, natural gas, and other reliable energy resources. By expanding microgrid capabilities and establishing a One-Stop Shop permitting portal, the state eliminated bureaucratic barriers and accelerated responsible development.
The project qualified for High Impact Intelligence Center designation by exceeding 90 megawatts of projected load, submitting detailed engineering and environmental plans, coordinating utility milestones, providing water and mitigation strategies, and demonstrating a long-term commitment to responsible development. Following review by the state’s Data Economy Office and Department of Commerce, the designation was formally approved.
Berkeley County Commission President Eddie Gochenour stated, “Following productive preliminary discussions with project leadership, Berkeley County officials, and Governor Morrisey’s team, I am very optimistic about this project. We have already identified a significant opportunity to potentially utilize reclaimed water, which will lower costs for the company, save taxpayer money for the county, and preserve our vital natural resources. The annual revenue generated by this project will further cement Berkeley County’s reputation as the premier destination to live and work in the Mountain State. I am grateful for Governor Morrisey’s leadership in championing this type of investment.”
With today’s announcement, the administration has secured more than $10.5 billion in new private-sector investment and more than 9,000 projected private-sector jobs since October. When combined with major federal commitments, including the Broadband Equity, Access, and Deployment Program and the Rural Health Transformation Program, total investment commitments under the current administration now approach $12 billion, supporting well over 10,000 projected jobs across the Mountain State.
Under the microgrid legislation spearheaded and signed into law by Governor Morrisey’s administration, revenue generated from projects like this will be reinvested directly into West Virginia communities: 50 percent to a Personal Income Tax Reduction Fund; 30 percent to the host county; 10 percent distributed to all counties on a per capita basis; 5 percent to the Electric Grid Stabilization and Security Fund to help keep rates down; and 5 percent to the Economic Enhancement Grant Program.