VCEDA closed a loan for up to $300,000 to the Scott County Economic Development Authority to be used to develop a new industrial site in Scott County. On hand for the ceremonial check presentation were, from left, John Kilgore, Scott County Economic Development Authority director; Jonathan Belcher, VCEDA executive director/general counsel; and Roger Fraysier, Scott County Economic Development Authority chairman.
WEBER CITY, VA – March 27, 2019 — An up to $300,000 loan to the Scott County Economic Development Authority (EDA) to develop a new site in the southern end of the county was closed Tuesday by the Virginia Coalfield Economic Development Authority.
The funds will be used for site grading, site development, engineering and permitting fees needed to develop an approximately 10-acre site at the Riverside Development in Weber City, Scott County’s newest business/industrial park.
The Riverside development is located on an approximately 90-acre tract of land. One site at the park was taken for the TTEC call center project which opened a customer experience center in 2016, leaving the EDA with no graded sites to market at the park.
“VCEDA is pleased to be assisting Scott County with the development of a new industrial site which when complete, will give it a new location to market to business and industry,” said VCEDA Executive Director/General Counsel Jonathan Belcher. “The new site will also add to VCEDA’s inventory of business-ready sites in Southwest Virginia’s e-Region.”
“Scott County is pleased to work with VCEDA once again to develop a much needed site at the Riverside Development,” said Scott County Economic Development Authority Executive Director John Kilgore. “We look forward to working with them to market the site for additional investment and job creation for the region.”
Additional funding for the project includes $500,000 from the Tobacco Commission and $250,000 from a Community Development Block Grant from the Virginia Department of Housing and Community Development.
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.