A memorandum of understanding reached with China Energy will result in $83.7 billion in projects in West Virginia over the next 20 years, while creating more job opportunity for the state's residents, Gov. Jim Justice said Tuesday.
"They'll be investing dollars here," Justice, who changed his party affiliation from Democrat to Republican shortly after President Donald Trump's election, told Fox News' "Fox and Friends" program.
"That's what, you know, the president said all along. Create a better balance of trade, and they'll be investing dollars here, building structures, building manufacturing, building crackers, and all of the things that tie back to natural gas, and tie back into the petrochemical industry."
The Chinese company recently signed a memorandum of understanding that will involve the multibillion investment in projects in West Virginia. Justice did not detail the deal during his morning show appearance, but said the state is "really excited."
"I could tease and say, 'doggone, we were really hoping for $100 billion,'" Justice said. "But $84 billion within the state of West Virginia is more money than any of us can think about and more job opportunity for West Virginians."
Justice said the state faced a $500 million budget deficit during his first early months, and more was spent, including passing a road bond referendum of $3 billion for infrastructure projects.
"We have a lot of different things going on, and now the China deal that will really set us on fire," Justice said. "The bottom line is, we've got great people, we've got great seasons, and we're within a rock's throw of two-thirds of the country, and we've got natural resources just beyond belief."
The Mountain State, he added, "has always been a hidden jewel, but we just didn't have the jobs component to be able to really drive everything here. So this will do it. West Virginia is a wonderful place. We want everyone to come."
The memorandum of understanding was signed last week when Trump was still in Asia, and he witnessed it with Chinese President Xi Jinping.
West Virginia was represented by the state's Secretary of Commerce H. Wood Thrasher, and China Energy, represented by Ling Wen, in Beijing. According to the memorandum, the company will invest the $83.7 billion on chemical manufacturing projects and the development of shale gas in West Virginia.
Sandy Fitzgerald ✉
Sandy Fitzgerald has more than three decades in journalism and serves as a general assignment writer for Newsmax covering news, media, and politics.
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