LEBANON, VA — JUNE 20, 2025 — A total of $1.11 million in loans and grants for projects in all seven counties in the Virginia Coalfield Economic Development Authority (VCEDA) service region were approved Thursday by the VCEDA board meeting in Lebanon, VA.
The projects approved included a combined total of $100,000 for seed capital projects to fund new businesses starting up in Buchanan, Dickenson, Russell, Tazewell, Lee and Scott counties.
Activity since the last board meeting has focused on closing of loans and grants, attendance at business development outreach events, the processing and presentation of Seed Capital applications and support activities for the Coalfields Expressway, VCEDA Executive Director/General Counsel Jonathan Belcher told board members.
“In terms of business development, manufacturing and seed capital are still seeing the most activity,” Belcher added.
He noted work has now been completed by Chmura Economics & Analytics on the updated economic impact analysis of the coal and natural gas industries in Virginia and VCEDA. The report is now on the VCEDA website at www.vceda.us.
Loans and grants approved during Thursday’s meeting included the following:
- An up to $500,000 loan to the Russell County Industrial Development Authority (IDA) to be used to finance building upfits and improvements and site improvements for the upfit of the IDA’s Russell Place property in Lebanon, VA, to support the continued expansion of Simmons Equipment Company;
- An up to $440,000 loan to the Buchanan County Industrial Development Authority (IDA) to be used to finance building repairs and improvements including the repair and/or replacement of HVAC units and a battery backup system at the IDA’s call center building to support the Virginia Employment Commission call center which is located within the building;
- An up to $50,000 grant from the VCEDA Tourism Capital Improvement Matching Fund to the Russell County IDA to be used to help finance the construction of the Hillside Trail Park in downtown Lebanon, VA; and
- An up to $29,500 grant to the Dickenson County Industrial Development Authority (IDA) from the VCEDA Coalfield Workforce Development and Training Fund to be used to help pay for a Small Developer Workshop to assist with regional capacity-building training in workforce housing for public officials, public employees and stakeholders in the VCEDA region.
The board also agreed to continue funding for its successful VCEDA Seed Capital Matching Grant program for Fiscal Year 2026, appropriating $250,000 from the VCEDA Regional Account to fund the FY26 program. The board also set a semi-annual application deadline of October 15, 2025 and April 15, 2026 for businesses to apply for the grants. Seed Capital applications will continue to be considered in FY26 in the following business categories: information technology, manufacturing, energy, creative tourism and construction-related trades.
At Thursday’s meeting, 10 businesses were awarded seed capital grants in the amount of $10,000 each, including:
- Just Breakin Bread LLC, Buchanan County;
- Lin’s Bistro, LLC, Dickenson County;
- Painting Outside the Lines Studio LLC, Lee County;
- Harwood Cavalier Properties LLC d/b/a River Hill Farms, Russell County;
- PBall’s Smoke & Grill LLC, Russell County;
- Two Sweet Bees LLC, Scott County;
- Ardent Construction, LLC, Tazewell County;
- Neeka Skincare LLC, Tazewell County;
- Painted Mountain Riverbend Retreat, LLC, Tazewell County; and
- Fearless Ventures LLC, Tazewell County.
The board also agreed to approve an extension of the loan closing deadline on the up to $10 million loan conditionally approved by VCEDA on August 17, 2017 for Project Jonah, to a new loan closing deadline of June 30, 2026; and to extend the grant disbursement deadline on a previously awarded grant to Simmons Equipment Company to a new grant disbursement deadline of December 14, 2026.
In other business, the board approved a request from the Appalachian Council for Innovation (ACI) to forgive the outstanding balance of the loan for the IN Appalachia project in the amount of $46,251.15, based upon ACI reporting it has surpassed the required goal of 225 business subscribers required for loan forgiveness.
The board also approved a request from the Wise County Industrial Development Authority to consent to the IDA’s lease-purchase of the office building and site located at 5957 Windswept Boulevard, Wise, VA and related appurtenances to BOT II Logistics, LLC and to consent to the termination of the lease-purchase agreement with Ronald Blue Trust concerning the property.
A request from the Dickenson County IDA to consent to the lease of a portion of the former Serco building and parking area in the Dickenson County Technology Park to Dickenson County Behavioral Health was also approved; as was a request from West River Conveyors and Machinery Company to change the borrower on the up to $4 million loan approved in February 2025 by VCEDA to West River to West River’s affiliate, Apex Leasing Corporation, with the understanding that West River will guarantee the payment and the performance of all terms and conditions of the loan.
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.