A new company that makes whiskey barrels out of white oak wood has been born from efforts to rebuild a devastated West Virginia community following deadly floods.
"We will be coming on into the marketplace at a perfect time," he said.
"This idea, which some people thought was a little crazy when we started, it evolved out of the recovery from the flood," Crabtree said. "The people who invested in West Virginia to rebuild homes truly believed that rebuilding homes was just the beginning of the economic recovery of West Virginia. They have pulled together a group of 20 investors to make this project a reality and to complete the economic recovery, which only economic development can do."
West Virginia Economic Development Authority executive director David Warner says the authority&apos;s board on Thursday approved a $6 million loan for the company, to be coupled with $6 million in bank financing and $15 million from a group of investors. In addition, a sawmill will undergo a $3 million upgrade.
West Virginia Commerce Secretary Woody Thrasher said using West Virginia white oak "will support jobs in our state&apos;s timber industry, on which many families and communities rely."
The project "epitomizes the absolute best in our state," he said. "It uses our raw products. It utilizes West Virginia investment and labor. And it&apos;s a real testimony to I think the governor&apos;s initiative by seeing this private investment."
"Today, we&apos;re changing that landscape," Justice said. He said the lowest-paying job at the company will be $40,000.