LEBANON, VA – APRIL 8, 2025 — A $350,000 loan from the Virginia Coalfield Economic Development Authority (VCEDA) to the Russell County Industrial Development Authority (IDA) to be used to finance the replacement of the roof at the former Acme building in Lebanon was recently closed.
“VCEDA previously approved nearly $1 million in loans to the Russell County IDA to assist with the purchase and renovation of the building. The new loan of up to $350,000 for replacing the roof is part of the ongoing development of the space,” said VCEDA Executive Director/General Counsel Jonathan Belcher. “The building has previously housed a supermarket and later a hardwood flooring manufacturer and the IDA now has the building under lease to Bates Family Farm, LLC which is utilizing the space as their manufacturing facility.”
The building is approximately 41,602 square feet and was constructed around 1980 on an approximate 2.19-acre site. The property has public water and sewer, several broadband options and natural gas is nearby. Bates Family Farm, LLC, not only raises goats, but also is a manufacturer of goat milk lotions and soaps. Bates Family Farm first relocated to Russell County in 2019.
“The financial support provided by VCEDA has allowed Russell County IDA the ability to assist a local company grow and expand their operation,” said Ernie McFaddin, Rusell County IDA executive director. “We are looking forward to the continued success of Bates Family Farm, LLC.”
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.