LEBANON, Va. — A total of $1.11 million in loans and grants for projects in all seven counties in the Virginia Coalfield Economic Development Authority service region were approved last week by its board.
The projects approved included a combined total of $100,000 for seed capital projects to fund new businesses starting up in Buchanan, Dickenson, Russell, Tazewell, Lee and Scott counties.
“In terms of business development, manufacturing and seed capital are still seeing the most activity,” VCEDA Executive Director/General Counsel Jonathan Belcher told board members.
Loans and grants approved during Thursday’s meeting included:
- An up to $500,000 loan to the Russell County Industrial Development Authority to be used to finance building upfits and improvements and site improvements for the upfit of the IDA’s Russell Place property in Lebanon, to support the continued expansion of Simmons Equipment Company.
- An up to $440,000 loan to the Buchanan County Industrial Development Authority to finance building repairs and improvements including the repair and/or replacement of HVAC units and a battery backup system at the IDA’s call center building to support the Virginia Employment Commission call center.
- An up to $50,000 grant from the VCEDA Tourism Capital Improvement Matching Fund to the Russell County IDA to be used to help finance the construction of the Hillside Trail Park in downtown Lebanon.
- An up to $29,500 grant to the Dickenson County Industrial Development Authority from the VCEDA Coalfield Workforce Development and Training Fund to be used to help pay for a small developer workshop to assist with regional capacity-building training in workforce housing for public officials, public employees and stakeholders in the VCEDA region.
People are also reading…
- Crowd lines Abingdon sidewalks for “No Kings” rally
- HIGH SCHOOL BASEBALL: Christian Taylor’s coaching path leads him back home to Sullivan East
- BRIEFS: Ridgeview punter Connor Smith commits to Arkansas
- Alabama man faces additional charges in Bristol cold case murder
The board also appropriated $250,000 to continue funding for its Seed Capital Matching Grant program for Fiscal Year 2026.
The board also set a semi-annual application deadline of October 15, 2025 and April 15, 2026 for businesses to apply for the grants. Seed Capital applications will continue to be considered in information technology, manufacturing, energy, creative tourism and construction-related trades.
At Thursday’s meeting, 10 businesses were awarded seed capital grants in the amount of $10,000 each, including:
- Just Breakin Bread LLC, Buchanan County
- Lin’s Bistro, LLC, Dickenson County
- Painting Outside the Lines Studio LLC, Lee County
- Harwood Cavalier Properties LLC d/b/a River Hill Farms, Russell County
- PBall’s Smoke & Grill LLC, Russell County
- Two Sweet Bees LLC, Scott County
- Ardent Construction, LLC, Tazewell County
- Neeka Skincare LLC, Tazewell County
- Painted Mountain Riverbend Retreat, LLC, Tazewell County
- Fearless Ventures LLC, Tazewell County.
The board also agreed to approve an extension of the loan closing deadline on the up to $10 million loan conditionally approved in 2017 for Project Jonah, to June 30, 2026 and to extend the grant disbursement deadline on a previously awarded grant to Simmons Equipment Company to Dec. 14, 2026.
In other business, the board approved a request from the Appalachian Council for Innovation to forgive the outstanding balance of the loan for the IN Appalachia project in the amount of $46,251.15, based upon ACI reporting it has surpassed the required goal of 225 business subscribers required for loan forgiveness.
The board also approved a request from the Wise County Industrial Development Authority to consent to the IDA’s lease-purchase of the office building and site located at 5957 Windswept Blvd., Wise to BOT II Logistics, LLC and to consent to the termination of the lease-purchase agreement with Ronald Blue Trust concerning the property.
A request from the Dickenson County IDA to consent to the lease of a portion of the former Serco building and parking area in the Dickenson County Technology Park to Dickenson County Behavioral Health was also approved along with a request from West River Conveyors and Machinery to change the borrower on the up to $4 million loan approved in February 2025 to West River to West River’s affiliate, Apex Leasing Corporation.