RICHLANDS, VA – OCTOBER 5, 2023 – CNX Resources, Tazewell County, Town of Richlands and Virginia Coalfield Economic Development Authority officials were joined Thursday by Virginia Deputy Secretary of Commerce and Trade James Campos to celebrate the groundbreaking for the Virginia Headquarters office of CNX Resources in Richlands.
Sixty-seven retained and eight new full-time jobs, for a total of 75 jobs will be coming to Richlands, Va., as the $900,000 loan from VCEDA to the Tazewell County Industrial Development Authority (IDA) is used to assist CNX Resources in the relocation and expansion of the gas company’s Virginia headquarters to the Richlands Professional building location on Front Street. Previously, the company has been leasing space in Claypool Hill, which it is outgrowing. The move is expected to be complete in the first quarter of 2024.
CNX, a publicly traded company on the New York Stock Exchange (NYSE) is the largest producer of natural gas in Virginia, with operations primarily in Buchanan, Tazewell and Russell counties. The company is a premier, low carbon intensive natural gas development, production, midstream and technology company. Its corporate headquarters are located near Pittsburgh, Pa.
Campos, who also serves as director of the Virginia Tobacco Region Revitalization Commission, noted, “Today is a great day for Tazewell County, the Town of Richlands and the Commonwealth of Virginia as a whole. The decision by CNX Resources to grow their operation here in Virginia is the result of hard work and cooperation between Governor Glenn Youngkin and his administration, VCEDA and our local partners here in Tazewell. As they open their new facility, a project that will retain 67 high-paying jobs and create eight new full-time positions, I want to commend CNX Resources for their commitment to helping us move Virginia’s energy economy forward.”
As part of the agreement, Tazewell County IDA has purchased some 121 acres of land in Tazewell from the company, giving the IDA property it can use for future economic development.
“VCEDA has been pleased to assist the Tazewell County IDA and CNX Resources in this job retention and expansion project,” said VCEDA Executive Director/General Counsel Jonathan Belcher. “The company could have placed these high paying jobs in another state, which is why we are very pleased to see them choose to remain in Tazewell County and in Southwest Virginia’s e-Region for this expansion.
Virginia Deputy Secretary of Commerce and Trade James Campos addresses the crowd at Thursday’s groundbreaking ceremony for the location of CNX Resources Virginia Headquarters office in Richlands. The renovation of the former Richlands Professional building, pictured in the background, is expected to be complete after the first of the year.
“CNX Resources has long been an important part of Southwest Virginia, providing high paying jobs and paying severance taxes which in turn assists additional economic development in the region,” Belcher added. “The company has also assisted in the support of various community projects.”
Funds from the proceeds of the loan were used to finance the IDA’s purchase of the Tazewell real estate from CNX and will also be used for building renovations and improvements related to CNX’s new location at the Richlands building. The company looked at locations in Virginia and West Virginia prior to the decision being made to move to the Richlands location.
“We are pleased to be celebrating this groundbreaking here in Richlands today,” said CNX Resources New Technologies President Ravi Srivastava. “Our Virginia operations are an important and integral part of CNX, both historically and going into the future and our decision to locate our Virginia Headquarters in Richlands is indicative of our continuing commitment to Virginia and our employees here.
“The professional building we will be moving into has long been a staple in Richlands and we look forward to being able to bring it back to what it was historically in the community as we work through the building renovation process,” he continued, adding that through the Tazewell property purchased by the IDA from CNX as part of the deal, the company is excited about the possibilities that property will provide to Tazewell for additional future economic development.
“We look forward to bringing additional jobs to Richlands and to retaining the existing jobs we have here in Southwest Virginia,” Srivastava said. “CNX Resources has been a part of the Virginia landscape for decades providing good paying jobs and severance taxes to the localities in which we operate in Buchanan, Tazewell and Russell counties. We are excited to continue to do so as we begin this new chapter of our operations here.”
CNX Resources has entered into a 15-year lease with RPB Properties on the Richlands Professional Building.
“CNX has long been a great business partner with Southwest Virginia, providing excellent wages, benefits and tax revenue to our counties,” said Virginia Senator Travis Hackworth. “It is great to see them further their commitment to Southwest Virginia with this new regional headquarters office expansion in Richlands, Va. I am excited to see this many jobs coming to downtown Richlands that will only spur more business and revenue to existing businesses.”
Virginia Del. Will Morefield agreed, noting, “Natural gas production plays a vital role in Southwest Virginia’s economy by employing hundreds of people and ensuring that dozens of local contractors can continue to work. This is excellent news for the Town of Richlands and the surrounding region.
“CNX’s commitment to our region is strong and I commend the Virginia Coalfield Economic Development Authority for all of its efforts to promote our region,” Morefield continued. “This past General Assembly session, I passed legislation that will qualify coalbed methane to be an eligible fuel for Virginia’s Green Jobs Tax credit. This will give natural gas companies in Southwest Virginia more incentives to drill natural gas and create more jobs.”
Tazewell County officials noted not only does the project brings jobs to Richlands, but it also provides the county with additional opportunities for economic development.
“CNX has long been a partner for economic development in Tazewell County,” said Board of Supervisors Chairperson Shanna Plaster. “Their investment in Downtown Richlands will give a boost to the town and their expansion will provide jobs with CNX and their contractors for residents in the entire county. We are happy to see another expansion in Richlands.”
Tazewell County Administrator Eric Young added, “The board is grateful to VCEDA for loaning us the funds to buy land from CNX in the Town of Tazewell which adjoins our school property. Our purchase gives CNX capital they are investing in refurbishing a landmark building in Downtown Richlands for their new offices.”
Tazewell County IDA Chairman Kyle Hurt noted, “We are excited about this project. CNX will employ our residents at high wages and contract with others who will create many additional jobs.”
“On behalf of the Town of Richlands and Richlands Town Council, it is my distinct pleasure to welcome CNX Resources as the newest addition to our town,” said Richlands Mayor Rod Cury. “It’s a wonderful day when we are able to recognize such a renowned and respected business that will enhance our community in so many ways. Thank you, CNX, for choosing Richlands as your Virginia headquarters. We look forward to a long-standing and mutually beneficial relationship.“
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.