VCEDA closed on a loan of up to $271,800 to the Trina Health Town Center project in Buchanan County. On hand for the ceremonial check presentation were, from left, Buchanan County IDA Chairman Jay Rife; VCEDA Executive Director/General Counsel Jonathan Belcher; Trina Health Project Manager John Chmara; and Buchanan County Board of Supervisors Chairman Carroll Branham.
Lebanon, VA (August 25, 2017) – The Virginia Coalfield Economic Development Authority (VCEDA) closed today on a loan of up to $271,800 to Trina Health of Pounding Mill, LLC. The company recently opened an innovative diabetes treatment center in Tazewell County and the new funding will enable it to open a second facility in Buchanan County – Trina Health Town Center.
The new facility is proposed to be located in the Grundy Town Center. The project has previously garnered a letter of support from the Buchanan County Industrial Development Authority.
Loan funds are being used to finance the purchase of furniture, fixtures and equipment.
Trina Health of Pounding Mill, LLC is a private, for-profit Virginia company which acquired the rights to own and operate the clinics in Tazewell and Buchanan counties utilizing a breakthrough technology from Trina Health, LLC, founded by G. Ford Gilbert, based in California. The technology is known as “Artificial Pancreas Treatment” for patients with type 1 and type 2 diabetes.
“VCEDA is pleased to be able to assist Trina Health of Pounding Mill to expand to Buchanan County,” said Jonathan Belcher, VCEDA executive director/general counsel. “This second location will be creating additional new jobs in our area.”
The Buchanan County treatment center will provide four treatment chairs when it opens.
The group’s loan application projects employment of six full-time employees within a year; and 10 full-time employees within two years.
###
About Virginia Coalfield Economic Development Authority and 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 Virginia’s e-Region and its focus on electronic information technology, energy, education and emerging technologies. 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.