Natural Gas Distributor Moves Regional Office To Clintwood, Va.

CLINTWOOD, Va. – Virginia’s youngest county has landed a major company that local officials think will stick around rather than leaving the area after the freshness wears off economic incentives created to lure new companies to the area.

Equitable Resources, one of the nation’s largest natural gas companies, broke ground Wednesday for a new headquarters for its Appalachian operations in Dickenson County.

The move represents a $200 million investment and 70 new jobs for the economically struggling county. Equitable already employs 115 workers locally. A planned increase in gas production will also boost the county’s revenue as well.

"Dickenson County is 128 years old, and we have landed what I think will be a tremendous benefit for the county," said Jerry Gray, chairman of the Dickenson County Industrial Development Authority. "We don’t own the resources beneath our ground, but here is a company that says it’s willing to make a commitment. It just feels good for them to recognize the need to give back to the community."

Gray said the IDA and county officials have struggled for many years to meet economic development challenges. The county has enticed a few companies to open operations – mostly call centers – but the businesses leave after a few years. One building in the county’s technology park that sits close to where Equitable will build its new headquarters, has had three companies housed inside during recent years.

Dickenson County officials decided to break the economic recruitment mold and looked at enticing a company that does business locally, urging it to relocate to the area, Gray said.

Equitable agreed.

"This is going to be a permanent home for them," Gray said.

Murry Gerber, Equitable’s chief executive officer, said the company’s new Virginia headquarters for its Appalachian operations will likely move into an outdated facility when its building is finished because of the company’s rapid growth and expansion plans.

"There is tremendous opportunity to drill here for coalbed methane gas," Gerber said.

Coalbed methane is a gas stored in coal seams. The gas can be harvested from the coal and transported to market through a series of pipelines. Equitable is one of the nation’s biggest gatherer of coalbed methane.

Gerber said Virginia has the insight and courage to solve the nation’s tough energy crisis, and natural gas and coalbed methane in the region could help America gain its energy independence.

Equitable has 2,500 gas wells in the region and 1,500 miles of natural gas pipeline in the region, Gerber said. The company has a half-trillion cubic feet of natural gas, he said. It also will spend $370 million to develop its natural gas reserves and pipelines this year, he said.

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