RICHLANDS, VA – FEBRUARY 16, 2022 – Helping clients to solve their technology needs while providing them with the data they need to grow is the primary focus of Arsenal Development LLC, a new technology consulting service specializing in data analytics and software development in Richlands, according to owner, Jordan Bales.
Arsenal Development LLC is a recent recipient of a $10,000 Virginia Coalfield Economic Development Authority (VCEDA) seed capital matching grant.
“It is exciting to see this new technology start-up in our region which seeks to meet the data analytics and software development needs of small to mid-size businesses in our region and beyond,” said VCEDA Executive Director/General Counsel Jonathan Belcher. “The new business, which fits in well with our Southwest Virginia’s e-Region strategy to develop entrepreneurship and technology jobs, projects creating four full-time jobs and six part-time jobs within five years.”
Bales noted Arsenal Development’s goal is to help clients solve their technology needs while also growing their businesses through advanced analytics. Additionally, he said attracting talent back to the region through his company’s planned internship program remains as another focus.
The services provided are fully remote, meaning they can be provided anywhere a business is in need of them. Bales said he brings years of technology consulting experience to the table with specialized training and education in the fields of data science and software development.
His business model is focused on serving small and mid-sized businesses with their technology needs, including website development, hosting, software development, machine learning and data analytics. In addition to working with those businesses, Bales said Arsenal will also pursue government contracts at local, state and federal levels as those become available.
“We are living in an age where technology and data analytics can finally be harnessed to improve any business regardless of size,” Bales said. “All of Arsenal Development’s services aim to make a business’s life easier by increasing efficiency. We want to be the ‘it’s just easier’ solution.
“Our current project is the first intellectual property we are developing for ourselves,” Bales said. “The IP is a software as a service project, commonly referred to as an SaaS. Our market research has shown us that, much like small businesses, small real estate investors are an underserved market. Our goal is to help these smaller investors keep track of their property rehabs by streamlining expense tracking along with contractor communications.”
The VCEDA grant, Bales said had helped him related to working capital costs, equipment and plans to hire his first intern this summer.
“I set aside most the VCDEDA funds for that,” Bales said of the internship. “It was a great experience meeting the folks at the Small Business Development Center and coordinating things with them.”
Bales worked with the Small Business Development Center (SBDC) at Southwest Virginia Community College (SWCC) in the development of his application to VCEDA and received a letter of support from the Tazewell County Industrial Development Authority.
“With the help of the VCEDA Seed Capital Matching Fund, Southwest Virginia is home to an advanced analytics firm,” said Brittani Clarke Clayman, SBDC business advisor at SWCC. “Mr. Bales will not only bring advanced technology to our area, but he is also dedicated to providing job opportunities as well.
“It was great to work with him on this project, as his commitment to giving back to the Southwest Virginia economy is very apparent,” Clayman added.
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.
About the Virginia Coalfield Economic Development Authority Seed Capital Matching Grant Fund: VCEDA region for-profit businesses one year and under with less than 10 full-time employees are eligible to apply for dollar-for-dollar matching grants up to $10,000 from the VCEDA Seed Capital Matching Fund. Applicants work with the Small Business Development Centers at Mountain Empire and Southwest Virginia community colleges to prepare the applications to VCEDA that include detailed business and financial plans. Businesses must be located in or plan to operate in the VCEDA region in southwestern Virginia that includes Buchanan, Dickenson, Lee, Russell, Scott, Tazewell, and Wise counties and the City of Norton.