Governor Patrick Morrisey announced a historic private-sector investment in West Virginia by Penzance Management that will total $4 billion at full buildout, creating jobs and directing new revenue to communities in the Eastern Panhandle.
As part of the announcement, Penzance’s Bedington Campus has 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, positioning the state to compete in artificial intelligence, cloud computing, advanced manufacturing and supercomputing.
“This $4 billion investment is a historic win that proves West Virginia can compete at the highest level for the global tech economy,” Morrisey said. “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.”
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. No state funding was used for the investment.
Victor Tolkan, Penzance’s managing partner and founder, said the project reflects the state’s commitment to attracting digital infrastructure investment.
“West Virginia has created a truly business-friendly environment for companies investing in digital infrastructure,” Tolkan said. “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 by the state’s Power Generation and Consumption Act and House Bill 2002, legislation designed to streamline permitting, expand microgrid use and allow companies to use coal, natural gas and other reliable energy resources.
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. The designation was reviewed by the state’s Data Economy Office and Department of Commerce before being formally approved.
Berkeley County Commission President Eddie Gochenour expressed optimism about the project’s local impact.
“Following productive preliminary discussions with project leadership, Berkeley County officials, and Governor Morrisey’s team, I am very optimistic about this project,” Gochenour said. “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.”
Under the microgrid legislation, revenue 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; and 5 percent to the Economic Enhancement Grant Program.
With the announcement, the Morrisey administration has secured more than $10.5 billion in new private-sector investment and more than 9,000 projected private-sector jobs since October. 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 state.
