VCEDA Executive Director/General Counsel Jonathan Belcher, second from right, presents a ceremonial check to Ryan Jones, center, a co-owner of Lincoln Road Virginia LLC, a recent VCEDA Seed Capital Matching Grant recipient. Also on hand for the presentation were, from left, Fred Ramey, Norton City Manager; Joe Fawbush, Norton City Mayor; Jones; Belcher; and Small Business Development Center Director Tim Blankenbecler.
NORTON, VA – JULY 17, 2019 – Specialty coffee drinks, food, craft beer and wine will all be coming to Norton, Va., later this summer, or early fall under one roof as Lincoln Road Virginia LLC opens the doors to its new business.
Lincoln Road Virginia LLC was recently approved for a $10,000 seed capital matching grant from the Virginia Coalfield Economic Development Authority (VCEDA).
“The seed capital matching grant program funded by VCEDA is all about helping small businesses get a solid start in the development of their new businesses,” said VCEDA Executive Director/General Counsel Jonathan Belcher. “Lincoln Road Virginia LLC put together a good business plan which in the first year they projected will create three full-time and four part-time jobs.”
The business is co-owned by Ryan Jones, Payton May and Jarred McGuire. Jones, originally hails from Haysi. His sister, Sabrina, will serve as general manager.
“The overall concept will include a full-service coffee lounge with specialty coffee drinks, food, craft beer and wine,” Jones said. “At our destination, patrons will be able to enjoy handcrafted beverages, network or become inspired to create the next big idea. It’s all about coffee and community.”
Jones noted the seed capital grant approved by VCEDA is allowing Lincoln Road Virginia LLC to purchase the rest of the equipment needed to get the new business open. Construction and renovations are underway at the business location at 736 Park Avenue in Norton.
“The VCEDA seed capital matching grant gave us a real leg up in getting started,” Jones said.
In addition to selling the items mentioned, the business will also sell Lincoln Road Cold Brew coffee products.
Jones and his business partners worked with Tim Blankenbecler, of the Small Business Development Center at Mountain Empire Community College, in the development of their business plan and application to VCEDA.
“Tim helped us tremendously in making sure we had everything needed for the application and he was a very important part in this whole process,” Jones said.
He also credited Fred Ramey, Norton city manager, for his assistance in the process and for helping Jones and his business partners become aware of the VCEDA grant program.
“Once we started hearing about this program, we thought our business would be a good fit and we decided to go for it,” Jones said. “It has really helped us a lot and is giving us an opportunity to give back to the region through our new business.”
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.