HAYSI, VA – NOVEMBER 2, 2020 — An up to a $1.2 million grant to the Dickenson County Industrial Development Authority to be used for infrastructure improvements on the Red Onion Industrial Site was approved recently by the Virginia Coalfield Economic Development Authority board.
“Infrastructure availability is a key piece in the marketing of an industrial site to a prospective new business,” said VCEDA Executive Director/General Counsel Jonathan Belcher. “A site equipped with roads, storm drainage, utilities, natural gas and broadband — ready and waiting for a potential new business — provides additional incentive for a prospect eyeing many different pieces of property to ultimately make the decision to choose the property which already has many of its basic needs met.
“VCEDA was pleased to be able to provide this funding for the Red Onion site,” he added.
The funds will be used to help finance site grading, site development, access road construction and storm drainage improvements on the Red Onion site which is also known as the Coalfield Regional Industrial Park. The funds will also be used for the extension of utilities, including water, sewer, electric, natural gas and broadband to the property.
“The funding to develop the Red Onion Industrial site will give the IDA a prime piece of marketable property,” said Dickenson County IDA Chairman Larry Yates. “This opportunity is one of the last pieces of the puzzle.”
Yates noted the property will offer redundant broadband services, which he said will make the site more attractive to data center businesses.
“The data center industry is a very competitive up and coming market,” Yates said. “The Red Onion site is a multi-layer site and could be the home of more than one industry. The IDA looks forward to bringing more job opportunities to the residents of Dickenson County, as well as to surrounding counties.”
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.