Directors and officers of the Virginia Coalfield Economic Development Authority are pictured in this photo taken at the November meeting of the board. From left (front), are J.P. Richardson; Josh Ball, vice chairman; Larry Mosley, chairman; Esther Bolling, treasurer; and Jonathan Belcher, VCEDA executive director/general counsel; (middle) Kathy Still, Maggie Asbury, Barbara Altizer and Rhonda Sluss; and (back) Brian Hess, Duane Miller, Troy Nichols, Vince Barnett, Becky Coleman and Carroll Branham. Not pictured is Jim Baldwin, secretary of the board.
VCEDA Continues to Drive Success in Job Creation, Private Investment in Region
The Virginia Coalfield Economic Development Authority has continued to drive success in job creation and private investment in the region, despite the lingering impact of the COVID-19 pandemic, VCEDA Executive Director/General Counsel Jonathan Belcher told members of the VCEDA board of directors during a November meeting of the board.
In addition to hearing the interim report from Belcher at the meeting, board members also approved the first funding from its newly created renewable energy fund; okayed $158,000 in funding for 16 new seed capital matching grant projects; and approved funding for three other projects.
In delivering his interim report to the board, Belcher noted 2021 has been an active year for the authority and the region thus far with 57 new and expansion/retention projects announced projecting 985 full time jobs and 131 part time jobs involving $203,718,591 in private investment.
An additional project which at the time was pending announcement, but which has now been announced, increased the total job creation number to more than 1,000 full-time jobs and increased the private investment number to more than $210 million.
Since 2007, VCEDA has reported business announcements involving 209 new projects and 70 expansions creating 9,539 full-time jobs and 1,719 part-time jobs and involving $749.6 million in private investment.
Read more about the VCEDA Board meeting.
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VCEDA Executive Director/General Counsel Jonathan Belcher, right, presents a ceremonial check for $100,000 to Scott County Economic Development Director John Kilgore to be used to benefit the expansion of VFP, Inc. in Duffield. The expansion project will add 30 new jobs to VCEDA’s e-Region.
$100,000 Grant Announced for Scott County EDA to Benefit VFP Inc. Expansion Project
An up to $100,000 grant from the Virginia Coalfield Economic Development Authority (VCEDA) to the Scott County Economic Development Authority to assist with an expansion of VFP, Inc., which is projected to bring 30 new jobs to Scott County has been announced by VCEDA.
The governor’s office announced the project in late November, noting Virginia successfully competed with Missouri and Oklahoma for the project.
The VCEDA funds to benefit the company come from the Coalfield Workforce Development and Training Fund and will be used for workforce development and training to benefit VFP, Inc., a manufacturing company located in the Duffield Regional Industrial Park in Scott County.
“VFP is an outstanding company and a great asset to our region. VCEDA has assisted VFP with a number of expansions in Scott County and we are very pleased to be able assist once again.”
Jonathan Belcher, VCEDA Executive Director/General Counsel
Read more about the VFP Inc. expansion.
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Michael Porter, of Porter’s Lawncare, LLC, opened his new business earlier this year in Clintwood, Va., with assistance in part from a VCEDA seed capital grant.
Seed Capital Grant Approved for Porter’s Lawncare, LLC
When it comes to lawncare and landscaping services, Porter’s Lawncare, LLC, provides a variety of services to meet both business and homeowner needs throughout the year.
Porter’s Lawncare, LLC, owned and operated by Michael Porter in Clintwood, Va., is a recent recipient of a $6,500 Virginia Coalfield Economic Development Authority (VCEDA) seed capital matching grant.
Landscaping, mulching, driveway sealing, gutter cleaning, brush and leaf removal, pressure washing, mowing and weedeating services are offered.
“Porter’s Lawncare, LLC provides services of benefit to both homeowners and businesses, making it an ideal candidate for a seed capital grant. Porter’s Lawncare projects one full-time and two part-time jobs within three years.”
Jonathan Belcher, VCEDA Executive Director/General Counsel
Read more about Porter’s Lawncare, LLC.
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Members of the Virginia Coalfields Expressway Authority Board met earlier this month in Lebanon. Pictured, from left (front), are Jonathan Belcher, Virginia CFX Authority executive director; Ron Peters, representing Josh Evans, who was not able to attend Tuesday’s meeting; Jay Rife, chairman; J.H. Rivers; and Melanie Salyer; and (back) Keith Viers; Scott Mullins; Ed Talbott; John Schoolcraft; and James Keen. Not pictured are Mike Yates, Bonnie Bates and Drew Keene.
Virginia CFX Authority Learns Economic Impact Study Results
The cumulative economic impact of the Coalfields Expressway (CFX) during a 50-year span is estimated to be $12.8 billion in 2021 dollars, according to a study of the proposed roadway presented to members of the Virginia Coalfields Expressway Authority Board in early December.
The study, performed by Chmura Economics & Analytics in Richmond, Va., was conducted at the request of the Virginia CFX Authority and the Virginia Coalfield Economic Development Authority (VCEDA) and built upon a prior study conducted by Chmura in 2013. What the new study found was that while 2021 estimates are that the completed roadway in Virginia will cost $3.1 billion, each dollar of investment in the CFX can result in $3.10 in economic impact in the two-state corridor during its life span.
The Virginia Coalfield Economic Development Authority (VCEDA) provides staff support for the Virginia CFX Authority.
The presentation of the Chmura study was made during a meeting of the CFX Authority board in Lebanon. In delving deeper into the report, it was noted construction of the CFX is anticipated to inject an annual average of $225.4 million in total economic impact (direct plus ripple impacts) into the local economy from 2013 through 2038. Construction, the study found, will also generate 1,543 jobs each year during that period.
Read more about the CFX Authority meeting.
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Kristen McGreggor and Shelley Richards opened their mobile fashion boutique earlier this year with assistance from a VCEDA seed capital matching grant.
Ruby Bea’s Boutique LLC Approved for Seed Capital Grant
Shopping until you drop just got easier when Ruby Bea’s Boutique opened earlier this year, including with it a mobile option for ease of customer shopping. “We stop and you shop” is the mobile store’s motto as it goes from location to location bringing with it the latest styles in women’s clothing.
Ruby Bea’s Mobile Boutique is a recent recipient of a $6,500 Virginia Coalfield Economic Development Authority (VCEDA) seed capital matching grant.
Co-owners Kristen McGreggor and Shelley Richards launched the venture earlier this year as an e-commerce business and then decided to incorporate pop-up on location sale events. The events are held in customer’s homes and in public locations, bringing what McGreggor and Richards said is a full luxe boutique experience to any location.
“We’ve seen entrepreneurs apply a mobile concept to their new businesses before, but this is the first time we’ve seen a clothing retail shop apply for funds to operate in a mobile setting. The seed capital grant program was established to encourage entrepreneurship and innovative thinking when it comes to creating jobs and this certainly meets that bill. The company projects three full-time and four part-time jobs within four years.”
Jonathan Belcher, VCEDA Executive Director/General Counsel
Read more about Ruby Bea’s Boutique LLC.
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Chad Cole opened Elite Fitness in the Town of Richlands, Va., with the help of a VCEDA seed capital matching grant.
Seed Capital Grant Approved for Elite Fitness
Physical fitness is and always has been an ongoing demand and Chad Cole said that was one of the reasons tipping the scales in his decision to move forward in opening Elite Fitness, a new gym in the Town of Richlands.
Elite Fitness was a recent recipient of a $6,500 Virginia Coalfield Economic Development Authority (VCEDA) seed capital grant.
Located at the Ratliff Town Center on 2010 Second Street in Richlands, Elite Fitness offers a broad range of fitness options, including cardio, free weights, treadmills, recumbent bikes, stair climbers and more. Tanning is also available at the facility.
“Entrepreneurship is alive and well in VCEDA’s e-Region. Assisting businesses in getting started, creating jobs and improving the quality of life in our communities are all goals and outcomes of the seed capital matching grant program offered by VCEDA. Elite Fitness projects two full-time employees within three years.”
Jonathan Belcher, VCEDA Executive Director/General Counsel
Read more about Elite Fitness.
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Hilary and Tony Deskins opened HomeTown Pharmacy at Raven earlier this year with the help of a VCEDA seed capital matching grant.
HomeTown Pharmacy Approved for Seed Capital Grant
Serving the needs of the community is important to Hilary and Tony Deskins and utilizing Hilary’s pharmacy degree from the Appalachian College of Pharmacy in nearby Oakwood, Va., the Deskins’ opened a full-service pharmacy, HomeTown Pharmacy, earlier this year to do just that.
The new business was a recent recipient of a $6,500 Virginia Coalfield Economic Development Authority (VCEDA) Seed Capital Matching Grant.
Hilary Deskins noted the new pharmacy’s location on Rt. 460, next to Eddie’s Exxon, offers residents in the area an option to meet their pharmacy needs without having to travel 12 miles further toward Vansant or 13 miles to Richlands.
“VCEDA’s Seed Capital Matching Grant program was established to give entrepreneurs in the e-Region a leg up when it comes to getting established and creating jobs. The program has successfully created hundreds of new jobs and in the case of HomeTown Pharmacy, five full-time and three part-time jobs are projected within three years.”
Jonathan Belcher, VCEDA Executive Director/General Counsel
Read more about HomeTown Pharmacy.
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Nancy Grant spent more than 25 years in the retail sector before deciding earlier this year to open her own store, Nancy’s Downtown Boutique, a recent recipient of a VCEDA seed capital matching grant.
Seed Capital Grant Approved for Nancy’s Downtown Boutique
After working in the retail clothing sector for more than 20 years, Nancy Grant decided the time was right to venture out on her own and instead of working in retail for others, to own and operate her own store, Nancy’s Downtown Boutique.
Nancy’s Downtown Boutique, located on 532 Virginia Avenue in Bluefield, is a recent recipient of a $6,500 VCEDA seed capital grant.
From live feed fashion shows on the boutique Facebook page, to a future e-commerce website, Grant has pursued a number of ways to market the new business, which officially opened earlier this year in the space formerly occupied by Leslie Ann’s Boutique, which shut down at the end of 2020.
In January, Grant began remodeling the space, giving it a new look, updating it and achieving what she describes as a friendly, comfortable and welcoming vibe for customers of all ages.
“Working with area small business start-ups to help them grow and create additional jobs is a key focus of our seed capital matching grant program. Nancy’s Downtown Boutique projects two full time and two part-time employees within two years.”
Jonathan Belcher, VCEDA Executive Director/General Counsel
Read more about Nancy’s Downtown Boutique.
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