WISE, VA – June 2, 2022 – An up to $1.2 million loan from the Virginia Coalfield Economic Development Authority (VCEDA) to the Wise County Industrial Development Authority to be used for the purchase of an approximately 10,000-square-foot furnished office building and an approximately 4.363-acre site in the Lonesome Pine Regional Business and Technology Park in Wise County was recently closed.
The property, located at 5957 Windswept Boulevard in Wise, was originally sold by the IDA to Southern Coal Corporation which built the office building. The building, later owned by Davis Mining & Manufacturing, Inc., was recently vacated.
“VCEDA is pleased to be working with the Wise County IDA on this project,” said VCEDA Executive Director/General Counsel Jonathan Belcher. “One of the things we need in the e-Region is an inventory of marketable buildings and sites and the purchase of the building in the technology park by the Wise County IDA will assist in future tenant recruitment.”
The acquisition of the building, according to the IDA, fits with future planning efforts by the IDA.
The building recently acquired by the Wise County IDA.
“Wise County does not now have any available space for business recruitment efforts and acquisition of this building and grounds will enhance the efforts of the IDA to offer commercial office space which would meet the concept standards of the Master Plan for the Lonesome Pine Regional Business and Technology Park,” said Brian Falin, Wise County IDA executive director.
The floorplan of the building includes 19 individual offices, all of which are fully furnished; a fire-resistant vault; four rest rooms; a large fully functional kitchen/break room; two conference rooms with conference table and chairs; and an entrance reception area. An open area consisting of approximately 600 square feet is located near the center of the building and could be used as a training lab or other related use by any company that might choose to locate in the building. The current paved parking area will accommodate approximately 30 vehicles. A metal storage building containing approximately 800 square feet of space is located to the rear of the office building.
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.