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WHEELING - Looking around the Ohio Valley, David H. McKinley finds much to be proud of.
A Wheeling native, McKinley is linked with several business ventures locally, including McKinley Carter Wealth Services, where he serves as president, chief investment officer, and chairman of the board. He also serves as an investor and board member at McKinley Architecture and Engineering, McKinley Properties, Willow Glen Capital, and Omni Strategic Technologies.
Entrepreneurship, McKinley said, is a difficult venture involving serious risk and requiring strong relationships, but which has immense payoffs.
"I founded McKinley Carter almost 20 years ago, and now we're the largest registered investment advisory firm in the state of West Virginia, and one of the largest, top 1 percent, in the country. I'm really proud of that," McKinley said. "… These are all businesses that are based in, and operating in, Wheeling, and are contributing to our economy.
"There's risk in entrepreneurship. When you put your signature on something, you're guaranteeing debt, payrolls, etcetera, and we've done that numerous times, with great success."
McKinley is most excited to see the former Fort Henry Club, at the corner of 14th and Chapline streets, gain new life. The former club was once a hotbed of social activity, attracting VIPs and high-profile visitors to the city, though its time as a destination waned until its eventual closure in 2009. Now, however, McKinley said the building is almost ready to take on new life as an office building, where several businesses have already leased space.
"It was a downtown men's club founded in 1890, and it was the premier location in Wheeling," he said. "Any celebrities, dignitaries, politicians, anybody of any significance, if they came to Wheeling, they would often stay or attend events at the Fort Henry Club. In the economic decline of Wheeling, that club slowly lost membership and eventually closed.
"The building is 36,000 square feet, and if it were not for our investment, it would be a parking lot right now," McKinley continued. "We've got a pretty significant investment; that building will be 100 percent back in operation by the end of this year. We have leases in place, we've had massive construction underway throughout the year; the total budget is about $8 million."
McKinley serves on a number of local boards, serving as a commissioner on Wheeling's parks and recreation board, the West Liberty University Board of Governors and with the Regional Economic Development Council.
On the smaller scale, McKinley said, he's particularly happy to serve in a more unofficial capacity with FACTS Impact Fund, where philanthropically-minded individuals contribute toward grants to help support individuals overcome barriers to employment.
"Each year, we do research into the community to figure out what the issues are that are holding people back from success and solicit grant proposals that would help move the needle, so to speak," McKinley said. "Our hope is to create an environment where people can connect with employment opportunities, restore a sense of pride in their lives.
"It's been a lot of fun. We've learned a lot about our community, we're engaging a lot more people in that effort, but it's completely under the radar. ... There's a group of guys committed to doing good things, and I'm happy to be a founder and leading that effort."
Looking ahead, McKinley said he feels the Ohio Valley, and Wheeling in particular, is well-poised to grow, both in population and as a community in a world increasingly embracing a culture of remote work.
"If you think about the world, the COVID environment, and the more rural communities, with the ability to work remotely, Wheeling is a wonderful town. Low cost of living, a safe pace, attractive housing, convenient geographically. I'd like to believe Wheeling ... could attract people that either have grown up here, or are intrigued by our way of life, and do business here. The Internet connects the world in ways nobody had anticipated 20 or 30 years ago."
While Wheeling itself is generally well-served with high-speed internet access, MckInley said the development of better infrastructure in the surrounding counties and region will likely be a priority if the area is to truly thrive.
"I think the city of Wheeling has sufficiently robust broadband access that it should be able to attract and support people from anywhere," he said. "However, there are pockets in the region around Wheeling that need attention, and there are efforts underway to resolve those."
More regionally, McKinley said he feels the planned Dilles Bottom ethane cracker plant will also serve to spur development and as an attraction going forward, as will the infrastructure improvements of Wheeling's streetscape project.
"As you think about all of these things rolling up, is there enough momentum that attracts more private investors, who commit capital and take risks in our community?" he said. "There's a lot of wealth in our community, and I'm not sure what environment it takes to make them make investments. I'm pretty excited for the next five years to see what happens to our city."