VCEDA Approves Nine Loans, Grants Totaling $7.83 Million
LEBANON, VA – SEPTEMBER 26, 2025 – Nine loans and grants totaling $7.83 million were approved
Thursday during a meeting of the Virginia Coalfield Economic Development Authority (VCEDA) board in
Lebanon, VA.
The board also agreed to obtain an updated industrial sites study of the VCEDA region, with the cost
thereof to be funded from the VCEDA Regional Account. The study will identify sites throughout the
region which might be suitable for future development for business and industry.
The VCEDA board approved requests for two as yet to be announced projects in the region, including an
earmark of up to $3 million from the VCEDA Coalfield Revolving Loan Fund and an up to $312,500 grant
from the VCEDA Coalfield Workforce Development and Training Fund Coalfield Jobs Investment Project
(CJIP) allocation for one project; and an up to $3 million loan for the purchase of real estate, building
upfits and improvements to assist with the development of the other as yet to be announced project.
Formal announcements on both projects are expected soon.
“In terms of business development, all target sectors have seen activity recently,” VCEDA Executive
Director/General Counsel Jonathan Belcher told board members during his executive director’s report.
“Numerous pre-applications have also been reviewed for the upcoming round of the Seed Capital
Matching Fund.”
Belcher noted two expansion projects by existing manufacturers in the region have been announced
since the last board meeting, with the most recent being White Rock Truss & Components LLC which
was celebrated last week in Lee County with a ribbon cutting attended by the governor. An expansion by West River Conveyors in Buchanan County was also announced. VCEDA approved loans for both
projects.
It was noted VCEDA staff have fielded 115 inquiries and participated in 15 prospect visits year-to-date.
Currently, there are 24 active projects being worked and VCEDA has participated in 22 marketing events
so far this calendar year.
Additional loans and grants approved at Thursday’s meeting included $1 million in the form of an up to a
$500,000 loan and a $500,000 grant to the Tazewell County Industrial Development Authority (IDA) to
be used to finance the purchase and installation of natural gas utility infrastructure and improvements,
including natural gas decompression equipment and infrastructure in the Richlands area of Tazewell
County.
An up to $250,000 grant to the Southwest Virginia Community College Educational Foundation, Inc.
from the VCEDA Coalfield Workforce Development and Training Fund was approved to be used for
workforce development and training, specifically for scholarships for the emerging workforce, training
instructional costs, customized workforce training for area businesses, work-based learning
opportunities, costs of assessments and costs of administering National Career Readiness Certificate and
other workforce testing for residents and/or workers in the VCEDA region.
An up to $125,000 grant for the Buchanan County Industrial Development Authority (IDA) to be used to
finance the provision of unserved and/or underserved citizens with telehealth and telemedicine needs
in Buchanan County with low earth orbit space-based broadband was approved.
An up to a $100,000 grant for the Scott County EDA to be used to finance site development and
infrastructure including the installation of utilities for a proposed housing development at the Riverside
Project in Scott County was approved.
An up to $42,500 grant to the Dickenson County Industrial Development Authority (IDA) was approved
to assist with the development and implementation of the Dickenson County Community Business
Launch program and small business incubator space at the Dickenson Center for Education and Research
in Clintwood, VA.
In other business, the board:
- Approved a request from the Breaks Interstate Park Commission to add the replastering of the
waterpark at the Breaks Interstate Park and costs associated therewith to the eligible uses of the
up to $694,645.65 grant approved for the park on October 19, 2023 and to extend the grant
disbursement deadline to October 19, 2026;
- Approved a request from the Breaks Interstate Park Commission to add the replastering of the
waterpark at the Breaks Interstate Park and costs associated therewith to the eligible uses of the
up to $100,000 grant approved for the park on September 19, 2024;
- Approved a request from the Town of St. Paul Industrial Development Authority (IDA) to consent
to the IDA’s lease of the Western Front Hotel to WFH Operations, LLC;
- Approved a request from the Wise County Industrial Development Authority (IDA) to consent to
the IDA’s lease of the Inn at Wise with an option to purchase to MK4 Hotel, LLC and/or its
affiliates; and
- Approved an amendment to a November 2024 award to the Town of Clintwood for the
installation of a marquee sign at the Jettie Baker Center to also be used to purchase and install
new entrance doors to the center. The marquee project came in under budget, leaving $12,000
to be used for the door replacement and other improvements.
Disbursement deadline extensions were approved for the following: Buchanan County IDA, $2.5 million
Southern Gap grant, to October 19, 2027; Buchanan County IDA, $2.21 million, Southern Gap Office
building loan, to September 17, 2026; Dickenson County IDA, Red Onion site, to September 23, 2026;
Dickenson County IDA, Green Lot and Haysi High School Lot, to November 18, 2026; Southwest Virginia
Community College Educational Foundation, $244,126 grant, to November 19, 2026; and Scott County
EDA, VFP Inc. grant, to September 22, 2026.
The board also agreed to extend the loan closing deadline on an up to $230,000 loan approved in April
2025 for the Wise County IDA for the Blackwood Industrial Park, to September 14, 2026.
About Virginia Coalfield Economic Development Authority and Southwest Virginia’s e-Region:
The Virginia Coalfield Economic Development Authority, created by the Virginia General Assembly in 1988 to
enhance and diversify the region’s economy and help create jobs, markets Southwest Virginia’s e-Region
and its focus on electronic information technology, energy, education, emerging technologies, and
entrepreneurship. VCEDA is a unique economic development organization that manages funds for
economic development projects from a percentage of the coal and natural gas severance taxes paid by
coal and natural gas companies that operate in the region. Located in southwestern Virginia, the region
includes Buchanan, Dickenson, Lee, Russell, Scott, Tazewell, and Wise counties and the City of Norton.
www.vceda.us or www.e-Region.org.
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PHOTO CAPTION:
Wise County Industrial Development Authority Executive Director Brian Falin addresses members of the
Virginia Coalfield Economic Development Authority (VCEDA) Board project review committee during a
meeting of the VCEDA board Thursday in Lebanon, VA.