$500,000 VCEDA Loan Closed for Tazewell County IDA to Benefit Clinch River Forest Products, Inc.
Documents were signed in mid-May closing on a $500,000 loan from the Virginia Coalfield Economic Development Authority (VCEDA) to the Tazewell County Industrial Development Authority to be used to finance the purchase of equipment, machinery and tools to assist Clinch River Forest Products, Inc. (CRFP) in Tazewell County. Clinch River Forest Products is a large sawmill operation in Tazewell which currently employs 85 direct full-time employees.
The company began its operations in Tazewell County in 2005 and has previously received funding from VCEDA which it paid off in 2013. The company anticipates as a result of the loan it will be able to retain the current jobs and add five to 10 additional jobs in the next two years.
“VCEDA is pleased to be able to make this loan to the Tazewell County IDA to be utilized to assist Clinch River Forest Products. While the company has 85 direct employees, the large number of truckers, loggers and others required to supply the facility, bring that employment up by another 250 additional indirect workers according to CRFP estimates. The business truly has been a success story for Tazewell County, VCEDA and the region.”
Jonathan Belcher, VCEDA Executive Director/General Counsel
Read more about Clinch River Forest Products, Inc.
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Jonathan Belcher, VCEDA executive director/general counsel, center, presents a ceremonial seed capital matching grant check to Marcus and Amelia Johnson, left, owners of Small Town Fitness LLC. Also pictured are Carl Snodgrass, Wise County Industrial Development Authority, second from right; and Tim Blankenbecler, of the Small Business Development Center at Mountain Empire Community College, right.
Small Town Fitness LLC Awarded VCEDA Seed Capital Grant
Keeping the family fit is the primary goal of Small Town Fitness LLC in St. Paul, Va., a recent Virginia Coalfield Economic Development Authority (VCEDA) $10,000 seed capital matching grant recipient.
When Marcus and Amelia Johnson first set out to open a gym and fitness center in the St. Paul area, they envisioned creating a family-oriented gym which allows for 24-hour access to fit the schedules of a variety of patrons from all walks of life. They opened last August and saw membership quickly grow to about 110.
“VCEDA was pleased to assist Small Town Fitness LLC as it sought to grow its new business in the St. Paul area. VCEDA’s seed capital matching grant program is designed to give small businesses in our region a leg up in getting their new ventures off the ground and to helping them become established in their communities, thereby growing communities and jobs at the same time.”
Jonathan Belcher, VCEDA Executive Director/General Counsel
Read more about Small Town Fitness, LLC.
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In a file photo from last summer, VCEDA Executive Director/General Counsel Jonathan Belcher, center, presents a ceremonial check to Brian and Penny Jeffrey, representing the seed capital matching grant funding approved for The Big Stone Gap General Store & Café. From left are Brian Jeffrey; Olive Jeffrey, the Jeffreys’ daughter; Penny Jeffrey; Belcher; Wise County Industrial Development Authority, Carl Snodgrass; and Small Business Development Center Director Tim Blankenbecler. The new business is located in the historic Big Stone Gap Post building.
Big Stone Gap General Store & Cafe’, LLC Celebrates Opening
Congratulations to VCEDA seed capital matching grant recipient Big Stone Gap General Store & Cafe’, LLC owners Brian and Penny Jeffrey. The Jeffreys opened their new venture in Big Stone Gap the last week of May. VCEDA was pleased to play a part in approving a $10,000 seed capital grant for the project.
Read more about Big Stone Gap General Store & Cafe’ in this article in the Kingsport Times News.
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