Business, Government Legal News from throughout WVGroundhog Day economic forecast: More of the same, but better

Cal Kent, an economist at Marshall University, told attendees of the 20th annual Groundhog Breakfast and Economic Forecast Thursday morning that it was fitting for him to speak at the event.

"My favorite movie is ‘Groundhog Day,' and my forecast is very similar," Kent said. "What you've been getting is what you're going to keep getting."

Kent spoke about West Virginia's economy, and how 38 percent of the state's products go to Europe, so the Mountain State economy hinges on Europe's economy, which has not been very stable.

"It's not popular in some areas to say nice things about coal, but it's going to continue to be the most singularly important source to generate electricity," Kent said.

Kent said the current standard of living would have to be lowered to meet environmental concerns because so much energy is generated by coal that it can't be replaced, even with the aid of other renewable sources.

Kent said the state's most crucial problem is a strain on the work force.

"We always talk about unemployment, but there are 3 million unfilled jobs in our economy right now," he said. "The problem is we don't have people with the skills, attitudes and abilities to fill the jobs that have already been created."

Joseph Badgley, president of Kanawha Valley Community and Technical College, said West Virginia leads the nation in the number of working adults without degrees.

"The work force of the future is already working today," Badgley said. "Community colleges are the doorstep of the American dream."

KVCTC is in the process of renovating building 2000 at the South Charleston Technology Park, and about 100 faculty members will be working out of the building in June, followed by about 700 students in August.

"Life is going to change in the Tech Park," said Tech Park Director Phil Halstead. "Bob Anderson is already getting the coupon book ready for the students."

Tom Minturn, who grew up in West Virginia but spent several years outside the state, told the crowd about the work culture at the new Chik-Fil-A store he manages in Southridge, as well as company history, and how happy he was to be able to return to the state.

Gov. Earl Ray Tomblin gave attendees an update on the state's economy, sharing the success of the plan to pay down the teacher retirement fund debt as well as the state-run workers' compensation program debt.

"For so many years, everybody was putting their hands in the pot and taking it out, but nobody was putting anything in," Tomblin said. "We went from the highest premium rate to one of the lowest in the country."

Tomblin said he hopes the Other Post Employment Benefits or OPEB debt will be another success story.

Tomblin introduced a bill to the Legislature that would put the state on a 20-year plan to pay down the debt.

"For the past 20 years or so, all the growth in our budget has gone to pay for sins of the past," he said. "We'll finally be able to take the growth and put it toward infrastructure and salaries to really move forward."