McCabe was first elected to the state Senate in 1998. He said he has enjoyed his time in the upper chamber, dealing with complicated issues like West Virginia's worker's compensation and retirement benefit debts, as well as tax and insurance reforms.
He said he also is proud to have helped secure funding for West Virginia University's School of Public Health and create the state's Outdoor Heritage Conservation Fund, which uses money from property transfer fees to allow the state Division of Natural Resources to purchase and protect land.
"I've felt I've made a difference, but I also know I'm not indispensable," he said.
Larry Puccio, chairman of the West Virginia Democratic Party, put out a news release Tuesday afternoon praising McCabe's 16 years of service in the Senate.
"He has spent that time quietly doing what matters most for the citizens of the Kanawha Valley," he said. "No words can properly express our gratitude for his years of service on the issues that are most critical to the working families of West Virginia. Thank you Senator."
McCabe said he hasn't ruled out returning to politics someday, but has no plans to run for elected office anytime soon.
Instead, he wants to spend more time with his family -- which now includes a 5-month-old grandson -- and pursue new business opportunities with his company, West Virginia Commercial, a commercial real estate brokerage and development firm.
"I think the economy's coming back around. It's a nice opportunity," he said.
He also plans to take the next few years to write an economic history of Charleston. McCabe is a big West Virginia history buff, with a library of more than 2,500 books on the Mountain State collected over the last 40 years.
"I read anything I can on West Virginia history. I buy anything I see. When somebody writes a family history, I try to get a copy of it. I look on the Internet for out-of-print books," he said.McCabe's book will focus on the development of Charleston, what caused it to grow, the leaders that helped the city grow and what caused that growth to slow down.