LEBANON, VA – July 21, 2025 — An up to $500,000 loan approved by the Virginia Coalfield Economic Development Authority (VCEDA) to be used to finance building upfits and improvements for the Russell County Industrial Development Authority’s Russell Place property in Lebanon, VA, will support the continued expansion of Simmons Equipment Company.
“Last year, Simmons Equipment Company announced an expansion of its operations into two buildings here in Lebanon – the former Polycap building and the former Russell Place building — along with the creation of 75 new full-time jobs and the retention of 40 full-time jobs,” said VCEDA Executive Director/General Counsel Jonathan Belcher. “We are pleased to be able to continue to assist the IDA and Simmons in this expansion with funding for needed upfits to the property which is expected to create an additional 15 new jobs – more than first anticipated when the project first began.”
Simmons is a manufacturer of mining equipment with operations in both Russell and Tazewell counties. VCEDA assisted Simmons and the Russell County IDA with the expansion by previously approving an up to $500,000 loan to the IDA to be used for upfits at the former Polycap building on Joe Gillespie Drive in Lebanon and an up to $187,500 CJIP grant to Simmons for workforce development and training. The upfits to the building on Joe Gillespie Drive have been completed and Simmons has approximately 40 employees currently at that location.
Now, Simmons and the IDA are focusing on upfitting the former Russell Place building, located at 122 Haber Drive in Lebanon, to support Simmons’ continued expansion. The Russell Place property is an industrial building on an approximately 12.6-acre site located at 122 Haber Drive in Lebanon. VCEDA previously assisted the IDA with up to $1.25 million in loans to purchase and help renovate the property. The remaining building on the Russell Place property is an older approximately 52,000-square-foot metal industrial building. The building has been leased by the IDA to Simmons, but the building and site need various upfits and improvements to support Simmons’ needs. The new $500,000 loan from VCEDA will be used toward those upfits.
According to the IDA’s application, Simmons will provide $1,544,319 of the $2,044,319 budget for the project. This will allow Simmons to create an additional up to 15 new full-time jobs within three years — over and above the 75 new full-time jobs previously announced last year.
“The growth and expansion for the Lebanon facility demonstrates Simmons commitment to strengthening the local workforce and economy,” said Russell County IDA Executive Director Ernie McFaddin. “This project demonstrates Simmons’ investment in the region. Russell County IDA is committed to supporting local partners and their efforts to revitalize our local economy.”
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.