Annual Report 2019 - Virginia Coalfield Economic Development Authority
Summary
The 2019 Annual Report of the Virginia Coalfield Economic Development Authority (VCEDA), with a Chairman's Letter from J.P. Richardson addressed to Governor Northam. The letter states that 50 new projects and expansions were announced in 2019, projected to create 575 full-time and part-time jobs and more than $29 million in private investment. It also states that VCEDA approved 57 loans and grants totaling more than $18.8 million in 2019 and closed 53. A mission statement says the Authority's primary purpose is to enhance the economic base of the coalfield region of Virginia, and the contents list project highlights, Seed Capital highlights, loan and grant approvals and an Independent Auditor's Report.
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2019
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VIRGINIA COALFIELD ECONOMIC DEVELOPMENT AUTHORITY
Chairman
Chairman’s Letter
The Honorable Ralph Northam
Governor of Virginia
Patrick Henry Building, 3rd Floor
1111 East Broad Street
Richmond, Virginia 23219
Dear Governor Northam,
J.P. Richardson
Chairman We are pleased to submit to you and the General Assembly the 2019 Annual Report of the
Virginia Coalfield Economic Development Authority (VCEDA).
Fifty new projects and expansions were announced in 2019, the highest number in
VCEDA’s history, including the location of a Canadian manufacturer establishing its first
U.S. manufacturing facility in Russell County, an existing business expansion into two shell
buildings in Buchanan and Lee counties, a new R&D facility in Wise County leading the
way in graphene research, and 35 new small businesses throughout the region supported
by the VCEDA Seed Capital Matching Fund. These 50 projects are projected to create 575
full-time and part-time jobs and more than $29 million in private investment.
TABLE OF CONTENTS
2 Chairman's Letter VCEDA approved 57 loans and grants totaling more than $18.8 million in 2019, and closed
3 Executive Director’s Report
53 loans and grants during the year, the highest number in VCEDA’s history. During this
historic year, projects were announced and funding was approved in all eight localities in
4-5 2019 Projects & Expansions
the VCEDA region.
6-12 2019 Project Highlights
VCEDA remains committed to its mission of helping to enhance and diversify the economy
13-24 2019 Seed Capital Highlights
of the coalfield region of Virginia. We look forward to working with the Governor’s Office
25 2019 VCEDA Marketing Events
and the General Assembly to help our region continue to diversify and grow.
26-27 Marketing Southwest Virginia's e-Region
Sincerely,
28 2019 VCEDA Loan Approvals
28-29 2019 VCEDA Grant Approvals
30 VCEDA Board of Directors J.P. Richardson
30 VCEDA Statement of Cash Receipts Chairman
& Disbursements
31 Independent Auditor's Report
VIRGINIA COALFIELD ECONOMIC DEVELOPMENT AUTHORITY
Mission of the Virginia Coalfield Economic Development Authority
The primary purpose of the Authority is to enhance the economic base for the seven county and
one city coalfield region of Virginia (Lee, Wise, Scott, Buchanan, Russell, Tazewell and Dickenson
Counties and the City of Norton). The Authority shall provide financial support for the purchase
of real estate, construction of buildings for sale or lease, installation of utilities, direct loans and
grants to private for-profit basic employers; may apply for matching funds from the state or federal
government, or the private sector; and any other support improvements it deems necessary.
Code of VA Title 15.2 Chapter 60, Section 15.2-6002
2
Director Executive Director’s Report
This year was another historic year for the Virginia Coalfield Economic Development
Authority (VCEDA). Not only did VCEDA set records in 2019 for the number of loan and
grant approvals and loan and grant closings, but also for the number of marketing events
and prospect visits in which VCEDA was involved, making 2019 the most active year in
the history of VCEDA.
There were 50 new projects and expansions in 2019, the highest number in VCEDA’s
history. These 50 projects are projected to create 575 full-time and part-time jobs and
more than $29 million in private investment. Some of the new projects announced during
Jonathan Belcher
Executive Director/ the year include Polycap, a Canadian-owned injection molding company which located
General Counsel to the Russell County Shell Building in Lebanon, Virginia, with plans to create at least
65 new full-time jobs; Better Living Home Care LLC, a new start-up in Lee County with
plans to employ 22; and Carbon Research and Development Co., which is leading the way
in graphene research and development at the Graphene Research Center in Wise County
with 35 full-time jobs projected.
Several important expansion projects by companies within the region also were announced
in 2019, including the back-to-back announcements by Paul’s Fan Company of expansion
projects in Buchanan County and Lee County projected to create a total of 55 new full-
time jobs. Lawrence Brothers, Inc., an existing manufacturer in Tazewell County, also
expanded with plans to add 28 new full-time jobs, and Sykes Wise Intuit is adding more
than 150 jobs in Wise County.
In terms of funding activities, VCEDA approved 9 loans and 48 grants in 2019, the highest
quantity in VCEDA’s history. These 57 loans and grants total more than $18.8 million in new
approved VCEDA funding. Thirty-six of the grants approved were to assist new business
start-ups in the region through VCEDA’s extremely popular Seed Capital Matching Fund.
VCEDA also closed 53 loans and grants during the year, the highest number in VCEDA’s
history. Projects were announced and funding was approved in all eight localities in the
VCEDA region during 2019.
It was also a very active year for marketing and business development. During the year,
VCEDA participated in 35 marketing and business development events, the most in
VCEDA’s history. Several of these were done in conjunction with the Virginia Economic
Development Partnership. VCEDA also was involved in 70 prospect visits during the year,
VCEDA staff includes, from left, Mitzi White, Office
Manager; Jean Jordan, Funds Administrator; Jonathan the most ever recorded by VCEDA.
Belcher, Executive Director/General Counsel; Marketta
Horton, Economic Development Specialist; and Susan In conclusion, 2019 was a very active and productive year for VCEDA. Although the
Copeland, Marketing Coordinator. region’s average unemployment rate of less than 4 percent is the lowest in more than 12
years, considerable work remains in diversifying the
economy of the region. It is through a team effort that the
region will continue to address this challenge.
3
2019 Projects & Expansions
NEW PROJECTS
Projects
LOCALITY JOBS INVESTMENT
Dismal River Trucking, LLC Buchanan 2 FT $49,750
Fired Up Pottery Buchanan 1 FT $12,063
Daisy s Cabins LLC Buchanan 1 FT $35,000
Misty Mountain Bit LLC Dickenson 1 FT $41,550
Sergent Tire, LLC Dickenson 1 FT / 1 PT $24,662
Viers Medical Clinic PLLC Dickenson 5 FT / 1 PT $14,300
Down Home Spirits, LLC Dickenson 5 FT / 2 PT $12,772
Black Diamond Gym & Spa LLC Dickenson 2 FT $23,900
Frost Bite LLC Dickenson 2 FT / 8 PT $10,074
Dickenson Shooting Sports Dickenson 1 FT $15,694
Kiwanis Club of Haysi Campground Dickenson 1 FT / 2 PT $35,000
SRRA Archery Complex Dickenson 1 FT N/A
Better Living Home Care LLC Lee 22 FT $35,000
Appalachian Turf Russell 2 FT / 1 PT $18,578
Preston Ball Photography LLC Russell 1 FT / 3 PT $10,000
Redbud Family Medicine, LLC Russell 6 FT / 1 PT $95,000
Polycap LLC Russell 65 FT $10,583,287
Beartown Barbell Club LLC Russell 2 FT / 1 PT $22,800
The Local Mercantile, LLC Russell 2 FT / 3 PT $146,800
Cheesy does it LLC Russell 1 FT $19,000
Russell Theater Russell 2 FT / 3 PT N/A
Fat Cat Farm, LLC Scott 1 FT / 1 PT $10,000
JAG Service, LLC Scott 4 FT / 3 PT $265,000
D&LP Scott 1 FT $43,000
The Lost Pearl Gallery, LLC Tazewell 1 FT $10,000
MSS Webb's Spa & Boutique, LLC Tazewell 2 FT / 3 PT $11,315
TP’s Home Remodeling Small Engine Repair LLC Tazewell 3 FT / 2 PT $65,000
Coaltown Taps, LLC Tazewell 4 FT / 5 PT $129,500
FT = full-time; PT = part-time
4
2019 Projects & Expansions
NEW PROJECTS
Projects
LOCALITY JOBS INVESTMENT
Back of the Dragon Welcome Center Tazewell 4 FT / 2 PT $1,267,634
The Red Roof Home, LLC Tazewell 1 FT / 3 PT $10,000
PK Fitness Inc. Tazewell 5 FT / 5 PT $416,000
Clinch Mountain Motorworks, LLC Tazewell 6 FT $310,000
Tazewell Cinema & Entertainment, LLC Tazewell 4 FT / 15 PT $900,000
Lincoln Road Virginia, LLC Norton 3 FT / 4 PT $17,100
Winze Company LLC Norton 2 FT / 1 PT $10,000
Carbon Research and Development Co. Wise 35 FT $2,500,000
The Big Stone Gap General Store & Café, LLC Wise 1 FT / 4 PT $90,000
NRC Escape Room, LLC Wise 1 FT / 2 PT $25,890
The Scripted Gate Sign Co., LLC Wise 1 FT / 3 PT $10,124
Thomas’ Black Bird Farm LLC Wise 1 FT / 2 PT $10,000
TTGI2, LLC dba Wise Rx Wise 5 FT / 1 PT $60,000
Small Town Fitness LLC Wise 1 FT $29,000
Clinch River Ecological Education Center Wise 1 FT N/A
TOTAL NEW PROJECTS (43) 213 FT / 82 PT $17,394,793
EXPANSIONS LOCALITY JOBS INVESTMENT
Paul’s Fan Company Buchanan 40 FT $6,932,000
Breaks Interstate Park Buchanan/Dickenson 20 PT N/A
Paul’s Fan Company Lee 15 FT $3,435,000
Synergy Biofuels, LLC Lee 22 FT N/A
SWCC Center for Education and Training Russell 1 FT N/A
Lawrence Brothers, Inc. Tazewell 28 FT $800,000
Sykes Wise Intuit Wise 154 FT $900,000
TOTAL EXPANSIONS (7) 260 FT / 20 PT $12,067,000
TOTAL NEW PROJECTS & EXPANSIONS (50) 473 FT / 102 PT $29,461,793
FT = full-time; PT = part-time
5
Projects
POLYCAP LLC | RUSSELL COUNTY | $3.37 MILLION LOAN
A Canadian-based manufacturer of specialty plastic caps and closures
established its first U.S. manufacturing facility in Russell County
planning to create 48 new jobs within three years and 65 new jobs
within five years at the Russell County Shell Building in Lebanon,
Va. The Canadian company rebranded its trade name to Polycap
LLC while continuing under the same corporate structure. VCEDA
approved an up to $3,373,287 loan to the Russell County Industrial
Development Authority to build out the 76,144-sq.-ft. shell building.
VCEDA also previously provided a $1,544,087 loan to the Russell
County IDA for the original construction of the shell building.
VCEDA worked with the Russell County IDA, Russell County
Board of Supervisors, Town of Lebanon, and the Virginia Economic
Development Partnership to secure the project for Lebanon.
PAUL’S FAN COMPANY/SOUTHERN GAP INDUSTRIAL PARK
SHELL BUILDING | BUCHANAN COUNTY | $5.6 MILLION LOAN
Paul’s Fan Company, an established Buchanan County business,
is expanding and will be the first tenant for the under construction
Southern Gap Industrial Park shell building. VCEDA approved an
up to $5.6 million loan to the Industrial Development Authority of
Buchanan County, and the VCEDA funds will be used for the build-
out and completion of the 80,000-sq.-ft. shell building, construction of
an adjacent 29,000-sq.-ft. shop building, the purchase of equipment,
machinery and tools, and other improvements. The company
will invest $1.32 million in new equipment in addition to moving
equipment from its current location. In addition to retaining 42 full-
time and 1 part-time jobs, an additional 25 full-time and 3 part-time
jobs are projected within 5 years, and a total of 40 new full-time jobs
in 10 years.
PAUL’S FAN COMPANY/CONSTITUTIONAL OAKS SHELL
BUILDING | LEE COUNTY | $1.025 MILLION LOAN
Paul’s Fan Company, an existing business in Buchanan County,
plans a new division - Paul’s Automation and Controls - to be
located in the industrial shell building at the Constitutional
Oaks Industrial Park in Lee County, Va. Up to 15 full-time jobs
will be created as the project matures. VCEDA approved an up to
$1.025 million loan to Paul’s Fan Company for the project, and the
company plans to invest another $2.41 million. The loan will be
used to purchase the 60,000-sq.-ft. shell building and land from the
Lee County Economic Development Authority and to assist with
the build-out of the shell building, and purchase of equipment,
machinery and tools. The Lee County site of Paul’s Fan Company
also will be utilized as a service and repair facility.
6
Projects
CARBON RESEARCH AND DEVELOPMENT CO. | WISE COUNTY
$1,500,000 LOAN
VCEDA approved an up to $1.5 million loan to the Wise County
Industrial Development Authority for the Carbon Research and
Development Co. project at the Graphene Research Center at
the Lonesome Pine Regional Business and Technology Park in
Wise, Va. The funds will be used to finance equipment and other
improvements at the Graphene Research Center, a 24,000-sq.-ft.
facility, formerly known as the Appalachia America Energy Research
Center. Described as a “wonder material” of this century, graphene
may be produced from any carbon-based material, but unlike other
graphene producers who use graphite as the source feedstock, the
process used at the center will convert coal and/or wood chips into
graphene. Thirty-five new jobs are projected with the project.
SOUTHERN GAP INDUSTRIAL PARK | BUCHANAN COUNTY
$2,154,240 GRANT
VCEDA approved an up to $2,154,240 grant to the Buchanan
County Industrial Development Authority to be used for
infrastructure needs at the county’s Southern Gap Industrial Park.
The funds will be used to finance site grading, site development,
road construction, paving, parking lot construction, fiber optics,
storm drainage improvements and create two additional project-
ready graded sites. Grant funds also will be used to develop a
paved access road from State Rt. 744 to the shell building now
under construction at Southern Gap and to extend the access road
to connect to the future Greenbrier Road extension. VCEDA also
approved a grant for $88,118 to the Buchanan County IDA for a
master plan update for Southern Gap.
RIVERSIDE DEVELOPMENT | SCOTT COUNTY
$300,000 LOAN
VCEDA closed an up to $300,000 loan to the Scott County Economic
Development Authority to develop a new site in the southern
end of Scott County. 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, Va., 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
no graded sites to market at the park. The new site also will add to
VCEDA’s inventory of business-ready sites in Southwest Virginia’s
e-Region.
7
Projects
BACK OF THE DRAGON WELCOME CENTER | TAZEWELL
COUNTY | $150,000 LOAN
VCEDA awarded a $150,000 loan from the VCEDA Tourism
Capital Improvement Matching Fund for the Back of the Dragon
Welcome Center located at 592 Main Street in Tazewell, Va. The
Back of the Dragon is a successful marketing campaign aimed at
motorcycle and sports car enthusiasts to promote the winding
32-mile stretch of Highway 16 from Tazewell to Marion, Va. The
welcome center will add to the experience and is also projected to
create four full-time and two part-time jobs within a year.
UVA-WISE FOUNDATION/CLINCH RIVER ECOLOGICAL
EDUCATION CENTER | WISE COUNTY | $486,994 GRANT
Development of a workforce development and training space for
the new Clinch River Ecological Education Center (CREEC) will be
made possible in part by an up to $486,994 grant from VCEDA to
the University of Virginia’s College at Wise Foundation. The funds
will be used by the college foundation to develop the Clinch River
Ecological Education Center at the Oxbow Center in St. Paul, Va.
The center will serve as a field station for workforce development
and environmental education for students from higher education
institutions throughout Central Appalachia and the Mid-Atlantic
region, K-12 students, as well as employers and entrepreneurs in
the outdoor recreation/adventure industry sector.
LAWRENCE BROTHERS, INC. | TAZEWELL COUNTY
$600,000 LOAN
VCEDA approved an up to $600,000 loan to be used to finance
the purchase of equipment, machinery and tools to assist with an
expansion of Lawrence Brothers, Inc., which could add as many as 28
new jobs to the Bluefield, Va., company within five years. Lawrence
Brothers, Inc., a manufacturing company located in Tazewell County,
does heavy metal fabrication and custom metal applications for various
industries, including underground mining, energy and electrical,
automotive, material handling, airline and the general metal industrial
goods industry. Lawrence Brothers, Inc. has its origins in a welding
business started in 1974, and today, the company has grown to more
than 80,000 sq. ft. of building space and more than 40 employees.
8
Projects
BREAKS INTERSTATE PARK | BUCHANAN AND DICKENSON
COUNTIES | $554,900 GRANTS
During the year VCEDA approved three grants to the Breaks Interstate
Park from the VCEDA Civil Penalties Fund. By statute, 50 percent of the
civil penalties collected by the Virginia Department of Mines, Minerals
and Energy are transferred quarterly to VCEDA for the development
of infrastructure and improvements at the Breaks Interstate Park. The
grants will enable the park to make several improvements and expand
its adventure tourism offerings including the construction of an
approximately 725-foot pedestrian swinging bridge across the Russell
Fork gorge from the Virginia side of the park to the Kentucky side of
the park. The bridge will be the longest pedestrian swinging bridge in
North America, according to park officials.
SOUTHWEST VIRGINIA COMMUNITY COLLEGE EDUCATIONAL
FOUNDATION | $265,565 GRANT
VCEDA approved an up to $265,565.43 grant to the Southwest
Virginia Community College Educational Foundation, Inc. to be
used for workforce development and training for the Southwest
Virginia Community College Center for Education and Training
located at the Russell County Governmental Center in Lebanon,
Va. The grant funds, which come from the VCEDA Coalfield
Workforce Development and Training Fund, will be used for
costs and expenses associated with training equipment, including
laboratory equipment, microscopes and casework, as well as costs
associated with delivery and installation.
RUSSELL THEATER | TOWN OF LEBANON | $150,000 GRANT
VCEDA approved a $150,000 grant to the Town of Lebanon to be
used to finance the renovation and rehabilitation of the historic
Russell Theater in downtown Lebanon, Va. The funds are from the
VCEDA Tourism Capital Improvement Matching Fund and may
also be used in part for architectural and engineering expenses
associated with the renovation. The renovation of the 3,232 square-
foot theater is part of the Town of Lebanon’s downtown Main Street
revitalization efforts and includes plans to renovate the building
into a multi-use facility which could become a hub for a variety of
events. Assisting the growth and creation of jobs through matching
funding for capital improvements at strategic tourism venues is one
facet of VCEDA’s overall investment program.
9
Projects
SOUTHWEST REGIONAL RECREATION AUTHORITY
SPORTSMAN’S COMPLEX | DICKENSON COUNTY
$149,945 GRANT
VCEDA approved an up to $149,945 grant from the VCEDA
Tourism Capital Improvement Matching Fund to the Southwest
Regional Recreation Authority (SRRA) to be used to construct
the first phase of a sportsman’s complex in Dickenson County.
The first phase will focus on construction of an archery complex.
Best known for its development of the Spearhead Trails’ ATV and
multi-use trails in the region, SRRA believes it was created to fulfill
a broader mission which encompasses all outdoor recreation and
has launched a new non-motorized division including a plan for a
new sportsman’s complex to include an archery center, rifle/pistol
ranges and shotgun ranges.
TAZEWELL CINEMA & ENTERTAINMENT, LLC
TAZEWELL COUNTY | $150,000 LOAN
VCEDA closed an up to a $150,000 loan from the VCEDA Tourism
Capital Improvement Matching Fund for Tazewell Cinema &
Entertainment, LLC to assist with the reopening and renovation of
the old theater building in North Tazewell. The business is owned
by Sharon McReynolds Thomas and John Thomas, who have plans
to turn the old theater building into a full entertainment venue
offering movies, theater space for live performances through a
partnership with the Barter Theatre, a trampoline park and video
arcade. The venue also plans to livestream major sporting or
cultural arts events. The business projects three full-time and seven
part-time employees within one year of its opening and four full-
time and 15 part-time employees within five years of opening.
HAYSI KIWANIS MOUNTAINTOP CAMPGROUND
DICKENSON COUNTY | $35,000 GRANT
VCEDA approved an up to $35,000 grant to be used to finance the
installation of a water line and water hook-ups for the Haysi Kiwanis
Club Mountaintop Campground. The Haysi Kiwanis Club, a 501(c)
(4) non-profit Virginia corporation, is in the process of establishing
a campground for ATV and horseback riders who utilize Spearhead
Trails’ Ridgeview Trail system and the non-motorized Russell Fork
Trail, also part of the Southwest Regional Recreation Authority’s
(SRRA) Spearhead Trail System. VCEDA previously approved
funding to the SRRA to help construct the Ridgeview Trail. A total of
18 campground sites are being established, which will now provide
campground lodging at the Ridgeview trailhead. One full-time and 2
part-time jobs are projected.
10
Projects
HISTORIC CRAB ORCHARD MUSEUM AND PIONEER PARK
TAZEWELL COUNTY | $50,000 GRANT INCREASE
Last year, VCEDA approved a $60,000 grant to the Historic Crab
Orchard Museum and Pioneer Park for renovations to the Pisgah
Store and other improvements. In 2019, VCEDA approved a $50,000
grant increase for the renovation project after the museum requested
the additional funding due to unforeseen additional work in the
renovation process. The grant funding is being used to make an
addition to the building as well as other improvements and repairs
to the space which is occupied by Fisher & Company Restaurant,
just off Rt. 19 across from the museum on the museum property.
CLINCH MOUNTAIN MOTORWORKS, LLC | TAZEWELL COUNTY
$155,500 LOAN APPROVAL
Clinch Mountain Motorworks, LLC, a custom motorcycle company
specializing in the manufacture and distribution of small displacement
motorcycles, was approved for an up to $155,500 loan from VCEDA.
VCEDA also worked with the new business as it decided on locating
in the building space in which the motorcycle shop is now housed
on Main Street in Tazewell, Va. While the business has decided not
to utilize the loan at this time, it celebrated its opening in July with
a ribbon cutting which VCEDA attended along with local officials,
Back of the Dragon representatives and members of the community.
In its application to VCEDA, Clinch Mountain Motorworks projected
six full-time jobs within five years of opening.
SOUTHWEST VIRGINIA COMMUNITY COLLEGE EDUCATIONAL
FOUNDATION/EVENTS CENTER STUDY | TAZEWELL AND
RUSSELL COUNTIES | $77,000 GRANT
VCEDA approved an up to $77,000 grant requested by the
Southwest Virginia Community College Educational Foundation
to be used to conduct a feasibility study for a proposed regional
education and events center. As part of the feasibility study, a
market analysis, program planning, conceptual layout planning,
cost estimate and economic/fiscal impact studies are planned. All
of these will help to determine the viability and potential impact of
the proposed project.
11
Projects
SOUTHERN GAP VISITORS CENTER GRAND OPENING
BUCHANAN COUNTY
Buchanan County and regional officials held a grand opening for
the new Southern Gap Visitors Center in Buchanan County on
July 11. VCEDA approved a $500,000 loan and a $250,000 grant
for this project.
ENGLAND, INC. | LEE COUNTY
On March 8, VCEDA participated in an open house held at the
England, Inc. furniture manufacturing facility at Dryden in Lee
County. VCEDA approved up to a $515,000 loan to the Lee County
Industrial Development Authority (now known as the Lee County
Economic Development Authority) to help land the project. This
loan was increased to $535,000 in 2019 in order to complete
additional renovations. The company is well ahead of hiring targets,
with 64 employees already at the facility.
DANIEL BOONE WILDERNESS TRAIL INTERPRETIVE CENTER
SCOTT COUNTY
VCEDA attended the grand opening and ribbon-cutting on the
Daniel Boone Wilderness Trail Interpretive Center in Scott County
on April 26. VCEDA provided a $200,000 grant to the Scott County
Economic Development Authority for this project.
12
Seed Capital Projects
Statistics
VCEDA SEED CAPITAL MATCHING FUND
Recognizing that small businesses play a significant role in the
growth and stability of the economy, VCEDA established the
VCEDA Seed Capital Matching Fund in 2017. The goal of the Stats on Seed Capital Matching Fund
Seed Capital Matching Fund is to help VCEDA meet the purposes SINCE 2017
for which it was created by providing a source of matching grant GRANTS 70
funds to assist new, start-up, and emerging small businesses located
within the region, and to attract such small businesses from outside
616 (404 FULL-TIME;
the region to locate within the region. For-profit businesses, no PROJECTED JOBS
212 PART-TIME)
older than one year from the date of the application, with less than
10 full-time employees, with matching funds from one or more
other sources, may apply for the VCEDA seed capital funds. PROJECTED INVESTMENT $4,230,122
DISMAL RIVER TRUCKING, LLC | BUCHANAN COUNTY
$10,000 SEED CAPITAL MATCHING GRANT
Tyler Justus grew up around trucks as his father owned a trucking
business. Owning his own trucking business just seemed to be a
natural next step and last summer, Justus took it, opening Dismal
River Trucking, LLC. He bought his first truck – a Mack — and hired
a driver to run it while he continues to teach at Hurley Elementary-
Middle School. The trucking company hauls and delivers various
products to select areas. Currently, it is being used to haul coal, but
additional products may be hauled in the future, including gravel,
rock and asphalt. While he has a driver for the truck, he also drives
the truck himself as needed. Plans call for the purchase of a second
truck within a year. The business projects two full-time jobs.
FIRED UP POTTERY | BUCHANAN COUNTY
$10,000 SEED CAPITAL MATCHING GRANT
A love of pottery and the desire to open her own business combined
to lead Krissy Charles to open Fired Up Pottery, a paint-your-own
ceramic pottery shop, at the Market Place in the Grundy Plaza in
Grundy, Va. Fired Up Pottery offers ceramics of all sizes — from
Christmas ornaments to large vases; snowmen to santas; pumpkins
to animal figurines. Piece prices range from $4 to $55, depending
on size. Paints of all colors are available and for a $3 sitting fee,
customers paint the pieces they purchase on site. Charles applies a
drying spray to a customer’s finished product and then customers
take their painted treasures home the same day. Charles does the
clean-up. The business projects one full-time employee.
13
Seed Capital Projects
DAISY S CABINS LLC | BUCHANAN COUNTY
$10,000 SEED CAPITAL MATCHING GRANT
When Billy and Brooke Owens finish the renovations on the Hoot
Owl Hideaway cabin and property they purchased in Grundy,
Va., they have plans to add another cabin as they grow their cabin
rental business near Spearhead Trails’ Coal Canyon Trail. The cabin
is primarily marketed to ATV riders due to its proximity to Coal
Canyon, however, the property also features a stocked catfish pond
for those who might want to do a little fishing while they are in the
mountains. Since the Owens’ first rented their Hoot Owl Hideaway
cabin, visitors from 13 states have stayed in the cabin, including those
from Indiana, Pennsylvania, Ohio, Illinois, New Hampshire, North
Carolina, Tennessee, New York, New Jersey, Maryland, Florida, South
Carolina and California. The business projects one full-time employee.
MISTY MOUNTAIN BIT LLC | DICKENSON COUNTY
$10,000 SEED CAPITAL MATCHING GRANT
When it comes to horses, Greg Dutton, of McClure, Va., knows a lot
about them and what it takes to get them moving. The right bit can
make the difference and the bits he manufactures and sells through
Misty Mountain Bit LLC -- currently the only American-made gaited
horse bit company -- are sold globally. Pressure is used to control the
horse‘s speed and direction of movement. But the bit used to do so is
influenced by several factors, including the style of riding, the rider’s
ability, the level of the horse’s training and the intended use of the
horse. Dutton manufactures several varieties of bits which he then
sells online and from a mobile trailer he takes to various horse show
events. The business projects one full-time employee.
SERGENT TIRE, LLC | DICKENSON COUNTY
$10,000 SEED CAPITAL MATCHING GRANT
Dickenson and surrounding county residents looking for a place
to purchase either new or used tires have an option available to
them at Sergent Tire in Clintwood, Va. The tire shop, owned by
Adrian Sergent, officially opened its doors in a two-bay garage being
rented from Vanover Supply. In addition to new and used tires, the
tire shop offers oil, brake, rotor and drum changes, tire mounting,
balancing and plugging and other basic automotive services. Sergent
Tire caters to a wide variety of customers, including drivers, farmers,
machine operators and ATV enthusiasts. It offers used tires, allowing
it to cater to customers who are not able to afford the higher price
of new tires. The business projects one full-time and one part-time
employee.
14
Seed Capital Projects
VIERS MEDICAL CLINIC PLLC | DICKENSON COUNTY
$10,000 SEED CAPITAL MATCHING GRANT
When you’re sick, it doesn’t always happen between 9 a.m. and 5
p.m. which is why Henry Viers and his wife, Natasha Viers, decided
to open Viers Medical Clinic PLLC – a family practice clinic in
Haysi, Va., currently offering unique “after hours” availability in
Dickenson County, designed to meet the medical care needs of area
residents. Henry Viers is a nurse practitioner with several years of
experience and said he opened the clinic in hopes of filling a void
in the medical care service area with an eye toward reducing costs
of medical care for patients at the same time. The business projects
five full-time and one part-time employees.
DOWN HOME SPIRITS, LLC | DICKENSON COUNTY
$10,000 SEED CAPITAL MATCHING GRANT
A recipe passed down through several generations will be used
to make the moonshine Down Home Spirits, LLC, a moonshine
distillery in downtown Haysi, Va., offers to locals and tourists alike.
The new business, owned by Saundra Hamilton, will also focus on
the history of moonshine and will offer thimble-size samples to those
visiting the newly renovated space in Haysi to purchase any one of a
number of flavors – from apple butter and peach cobbler to coconut,
blackberry and blueberry. A copper still will be utilized to make the
moonshine which will be offered for sale not only at the new business,
but also through an e-commerce website. The business projects five
full-time and two part-time jobs.
BLACK DIAMOND GYM & SPA LLC | DICKENSON COUNTY
$10,000 SEED CAPITAL MATCHING GRANT
Helping the community to get healthier is one of the primary goals
of Black Diamond Gym & Spa LLC in downtown Haysi, Va. The
facility is owned by Matthew Owens and his wife, Jordan, and will
be open 24/7 Monday through Sunday. An electronic entry system
will allow members around the clock access. Owens noted the gym
is being equipped with traditional cardio equipment like treadmills
and elliptical bicycles and also has free weights and heavy weights
available, along with other equipment. Yoga classes, nutrition
classes and fitness classes will provide gym members with a variety
of workouts from which to choose if they want to do exercise in a
group setting. Special programs will be offered for senior citizens.
The business projects two full-time employees.
15
Seed Capital Projects
FROST BITE LLC | DICKENSON COUNTY
$10,000 SEED CAPITAL MATCHING GRANT
Neil Mack Fleming; his wife, Melanie; and daughter, Tori, are making
plans for the spring when Frost Bite LLC, a mobile food business
based out of Clintwood, Va., will once again hit the festival circuit
providing shaved ice dessert options for those looking to add a sweet
treat to their day. Owning their own business has long been a dream
the family has had, according to Melanie Fleming, who said the seed
capital matching grant is allowing the family to continue to realize
and grow that dream. The business projects two full-time and eight
part-time employees.
DICKENSON SHOOTING SPORTS | DICKENSON COUNTY
$10,000 SEED CAPITAL MATCHING GRANT
Mike Yates grew up with a shotgun and a rifle, hunting and
participating in shooting matches when he was in high school.
That love of the sport of shooting is what prompted him to open
Dickenson Shooting Sports in Clintwood, Va. Yates said plans call
for Dickenson Shooting Sports to host four shooting matches a year
and at other times as the business grows. The business features five
covered stands and offers sporting clays, flurry and skeet shooting.
Participants bring their own 12-gauge or 20-gauge shotguns for the
events. The business projects one full-time employee.
BETTER LIVING HOME CARE LLC | LEE COUNTY
$10,000 SEED CAPITAL MATCHING GRANT
When Amber Cox, of Jonesville, Va., decided she wanted to open her
own business, it didn’t take long for her to determine what that new
business would be. She looked around and saw a need in the senior
population for home care needs to be provided and as a result, she
opened the doors to Better Living Home Care LLC. The business offers
an affordable solution for the elderly, including part-time, full-time and
around-the-clock service alternatives designed for people who choose
to live independently, but who require non-medical services. Among
the services provided are those which range from companionship and
light house cleaning, to laundry, cooking and kitchen maintenance,
attendant/driver services, basic home maintenance, pet care and basic
personal care. The business projects 22 full-time employees.
16
Seed Capital Projects
APPALACHIAN TURF | RUSSELL COUNTY
$10,000 SEED CAPITAL MATCHING GRANT
The science of lawn care — the right mix of seeds and fertilizers and
the correct use of selective herbicides – is what Appalachian Turf
applies every day in helping home and business owners achieve their
landscaping goals. While lawn mowing services are available, owner
Cowan Gilmer said Appalachian Turf ’s primary focus is on weed
control and fertilizer applications through a five-step program to
build greener and healthier stands of turf. Weed control is a process
that begins with identifying broadleaf and grassy weeds in the lawn
and then applying the appropriate regimen of selective herbicides
to suppress or eradicate the weeds, Gilmer explained. The business
projects two full-time and one part-time employees.
PRESTON BALL PHOTOGRAPHY LLC | RUSSELL COUNTY
$10,000 SEED CAPITAL MATCHING GRANT
For Preston Ball, photography started out as more of a hobby, but
he soon found out that his services as a photographer had value and
as a result, he decided to pursue starting a photography business of
his own. The business offers sports photography services as well as
drone, portrait, wedding and commercial photography services. Ball
has been a photographer for 25 years and has done videography for
two years. In the future, he hopes to develop an indoor studio which
will provide a space for more portrait photography. The business
projects one full-time and three part-time employees.
REDBUD FAMILY MEDICINE, LLC | RUSSELL COUNTY
$10,000 SEED CAPITAL MATCHING GRANT
Redbud Family Medicine, LLC co-owners Vickie Stevens and
Mercedes Schoonover opened their new medical clinic in Honaker,
Va. as a family practice clinic treating patients of all ages -- from
infants to geriatric patients. The clinic’s patient base hails from
six counties, including those from Russell, Buchanan, Dickenson,
Tazewell, Washington and Smyth. Stevens holds a Master of Science
in Nursing Administration, a post-graduate degree in Nursing and
is a board-certified Family Nurse Practitioner; and Schoonover
holds a Master of Science in Nursing Administration, an MBA, a
Master of Science and is also a certified Family Nurse Practitioner.
The business projects six full-time and one part-time employees.
17
Seed Capital Projects
BEARTOWN BARBELL CLUB LLC | RUSSELL COUNTY
$10,000 SEED CAPITAL MATCHING GRANT
James (JD) Range and his business partner, Andrew Salyer, of
Lebanon, Va., decided when they opened Beartown Barbell Club LLC
that the new fitness facility would go beyond normal gym facilities
and focus more on strengthening and conditioning aspects of fitness.
The facility offers 24/7 access to its members through an app on their
smart phones. In addition to providing equipment for strengthening
and conditioning, the business also has plans to offer youth camps,
to host fitness and powerlifting competitions, to present lectures
from coaches and trainers from around the country and to offer both
personal training/coaching and online training/coaching as well as
nutritional guidance. The business projects two full-time and one
part-time jobs.
THE LOCAL MERCANTILE, LLC | RUSSELL COUNTY
$10,000 SEED CAPITAL MATCHING GRANT
Gabby Range has always loved the business of coffee and has always
been interested in starting and operating her own business. When
the opportunity presented itself to combine the two, she and partner,
Lindsey Kegley, of Cleveland, Va., opened The Local Mercantile, LLC,
— known as The Local — a coffee shop and store selling local arts,
crafts, food and more. The coffee bar features regular and gourmet
coffees, espressos and teas, as well as a small breakfast and lunch
menu. The mercantile side of the business features local products
from area arts and craftspeople and offers local vendors the ability to
rent floor space and to offer their items for sale on a commission basis.
The business projects two full-time and three part-time employees.
CHEESY DOES IT LLC | RUSSELL COUNTY
$10,000 SEED CAPITAL MATCHING GRANT
Carey and Raymond Watkins originally purchased land in Russell
County to camp and then to build a small home, but in 2012, they
left their corporate lives in North Carolina and moved to their
hobby farm to Castlewood, where they retired. They opened a
mobile food truck business, Cheesy does it LLC, and now work the
festival and job circuits, offering unique grilled cheese sandwiches
and paninis as well as tomato basil bisque in cooler months, cheesy
chips and cheesecake. The business is focused on providing services
to Wise, Russell, Tazewell, Buchanan and Washington counties and
the City of Norton and books lunches at employers throughout the
region. The business projects one full-time job.
18
Seed Capital Projects
FAT CAT FARM, LLC | SCOTT COUNTY
$10,000 SEED CAPITAL MATCHING GRANT
Farming has been something Deana Haines, of Duffield, Va., has done
since she was a child. Opening her own greenhouse is something
she has wanted to do her whole life and she is now working toward
realizing that dream. She has plans to grow a variety of culinary herbs,
flowers, vegetables and strawberries – started from seed and grown
to various stages – for retail sale at local farmers markets and offered
at wholesale to local farm and garden stores and health food stores.
Plans call for her first greenhouse to be open by summer. Her initial
focus will be growing strawberries and she added she also wants to
dabble in culinary herbs, offering them for sale locally and online.
The business projects one full-time and one part-time employee.
JAG SERVICE, LLC | SCOTT COUNTY
$10,000 SEED CAPITAL MATCHING GRANT
The need for maintenance and repair services for diesel equipment
is something Angela White, of Scott County, has long understood
as she has operated a trucking company since 2005. When a local
garage facility in the area became available, White partnered with
Travis Logan and purchased the garage they opened as JAG Service,
LLC. Owned 50/50 by White and Logan, JAG Service, LLC offers
medium and heavy-duty equipment service and repair for trucks,
heavy equipment and agricultural equipment in the area. The
business focuses on the equipment service and repair needs of local
trucking companies, loggers, farmers and other local businesses.
Four full-time and three part-time jobs are projected.
D&LP, “DAVE ‘N THE LITTLE PEOPLE” | SCOTT COUNTY
$10,000 SEED CAPITAL MATCHING GRANT
It’s not everyone that has a miniature steam railroad in their
backyard, but Dave Powers in Dungannon, Va., has just that.
Powers opened D&LP, which stands for “Dave ‘n the Little People,”
offering adults and children alike the opportunity to experience a
steam locomotive ride on a miniature scale. He installed more than
one-half mile of track in his back yard in 2010 and has expanded
the track to be more than a total of one mile. Train rides are offered
on Saturdays and Sundays from May to December. Special events
and holiday-themed train rides are also offered, as are school visits
and the opportunity to enjoy the train for birthday parties, family
reunions and church gatherings. The business projects one full-
time job.
19
Seed Capital Projects
THE LOST PEARL GALLERY, LLC | TAZEWELL COUNTY
$10,000 SEED CAPITAL MATCHING GRANT
From paintings to hand-crafted jewelry and glass work to basket
weaving and more, the Lost Pearl Gallery in North Tazewell, Va.,
has a little something for everyone. The gallery, a for-profit limited
liability company, is an artists’ collaborative venture. It specializes in
providing fine art collectibles and quality handmade products and
services related to the arts. The gallery has five owners, including
Shirley “Pawnee” Jewell, Nancy Greever Brooks, Esther “Sarah”
Lowe, Betty Armentrout and James D. Hale, all of whom represent
a variety of artistic disciplines. Periodic shows are hosted and from
time to time, it issues a call to all artists, seeking submissions for new
art, which are then juried and if selected, put on display. One full-
time job is projected.
MSS WEBB’S SPA & BOUTIQUE, LLC | TAZEWELL COUNTY
$10,000 SEED CAPITAL MATCHING GRANT
Helping area residents look and feel their best is just a part of the
routine every day at MSS Webb’s Spa & Boutique, owned and operated
by Stephanie Webb in the Claypool Hill Mall in Claypool Hill,
Va. A cocoon wellness pod which has many benefits -- improving
skin and breathing can also assist in weight loss and overall health
management -- is one of the unique offerings planned to be offered
on site. The business also offers lash extensions; permanent micro
blading; lash lift and tint; brow tint; and permanent eyeliner. Essential
oils designed to enhance sleep and energy and reduce stress are sold
at the business, as well as bath salts and bath bombs and sugar scrubs
Webb makes on site. Two full-time and three part-time jobs are
projected.
TP’S AUTO REPAIR | TAZEWELL COUNTY
$10,000 SEED CAPITAL MATCHING GRANT
Providing quality automotive repair and maintenance services at
an affordable price was Calvin Mitchell’s goal as he opened TP’s
Auto Repair, also known as TP’s Home Remodeling Small Engine
Repair LLC, in North Tazewell, Va. Mitchell’s business provides
engine repair, brake repair, preventative maintenance, truck repair,
exhaust system replacement and repair, wheel alignment, oil
changes, battery checks and radiator repair. In addition to working
on trucks and cars, Mitchell also works on ATVs and UTVs and
will make trail calls. The business projects three full-time and two
part-time jobs.
20
Seed Capital Projects
COALTOWN TAPS, LLC | TAZEWELL COUNTY
$10,000 SEED CAPITAL MATCHING GRANT
When Blake Ray talks about his new business, Coaltown Taps, LLC
in downtown Richlands, he envisions a place where people can come
together to talk about the events of the day or the week and enjoy a
craft brew and a gourmet burger. The new business when it opens in
the spring of 2020 will offer lunch and dinner from a mobile food
truck in the courtyard area, a lounge area with couches, arm chairs
and tables, and craft beers from across Virginia. Quarterly events
will be offered and 12 televisions will allow those who want to catch
a game the opportunity to do so. Sunday afternoon music events
and trivia nights will round out some of the planned activities. The
business projects four full-time and five part-time jobs.
THE RED ROOF HOME, LLC | TAZEWELL COUNTY
$10,000 SEED CAPITAL MATCHING GRANT
Renee Perkins used to live next door to the home on 516 Carline
Avenue in Tazewell, Va., but when that home went up for auction,
she bid on it and won the bid. The next step was to decide what to do
with the 100-year-home. With the help of her brother, who did most
of the contracting renovation work on the project, Perkins turned it
into The Red Roof Home, LLC, appropriately named based on its red
tin roof. The new business offers lodging in several rooms. Common
living and kitchen areas provide visitors with all the comforts of
home. Open year-round, the business seeks to provide lodging for
Back of the Dragon visitors, other tourists and business travelers. The
business projects one full-time and three part-time jobs.
PK FITNESS INC. | TAZEWELL COUNTY
$10,000 SEED CAPITAL MATCHING GRANT
“Your goals are our goals. Welcome to your first step.” It may be
a motto on a web page, but for PK Fitness Inc. owners Craig and
Angela Nash, it’s how they approach operating their Anytime
Fitness gym franchise at the Claypool Hill Mall. Helping members
to achieve their fitness goals is what it’s all about for PK Fitness
Inc. The gym is open 24 hours a day, seven days a week, making it
easy for fitness enthusiasts to choose a time to work out that best
fits their own individual schedules. Fitness consultation, personal
workouts and team training are offered. Memberships are portable
to any Anytime Fitness location. The business projects five full-time
and five part-time jobs.
21
Seed Capital Projects
LINCOLN ROAD VIRGINIA, LLC | CITY OF NORTON
$10,000 SEED CAPITAL MATCHING GRANT
Specialty coffee drinks, food, craft beer and wine all are coming to
Norton, Va., under one roof as Lincoln Road Virginia, LLC opens its
doors to its new business. The business is co-owned by Ryan Jones,
Payton May and Jarred McGuire. Jones’ sister, Sabrina, is general
manager. The new business features a full-service coffee lounge,
handcrafted beverages and opportunities to network and meet with
others in the community. In addition to selling the items mentioned,
the business also sells Lincoln Road Cold Brew coffee products. The
business projects three full-time and four part-time jobs.
WINZE COMPANY LLC | CITY OF NORTON
$10,000 SEED CAPITAL MATCHING GRANT
Connecting companies to their audiences with social media,
engaging content and other digital outlets is how Blake Salyer, of
Norton, describes the new direction of Winze Company LLC. An
e-commerce brand start-up, Winze now offers both creative services
and fulfillment solutions for its client base. The company offers a wide
range of services including branding, content creation, social media
management, marketing, consulting and merchandise management.
The business projects two full-time and one part-time jobs.
THE BIG STONE GAP GENERAL STORE & CAFÉ, LLC
WISE COUNTY | $10,000 SEED CAPITAL MATCHING GRANT
Brian and Penny Jeffrey have spent their careers serving North Carolina
colleges and after a family visit to Big Stone Gap, decided it was time to
explore the idea of starting a business in the town where Brian grew up.
The Jeffreys envisioned turning the historic Big Stone Gap Post building
– home of the community’s first newspaper – into a general store and
café. Providing visitors with a general store mercantile experience
showcasing the historic charm of the Town of Big Stone Gap is the goal
of the business which will offer fast casual food and beverage selections,
including craft beers and wines. It also will offer space for musicians and
local artisans to showcase their work and sell their goods and services. A
key feature of the café is its coal-fired pizza oven that runs on anthracite
coal. The business projects one full-time and four part-time jobs.
22
Seed Capital Projects
CURKLIN’S LLC | WISE COUNTY
$10,000 SEED CAPITAL MATCHING GRANT
The historic Mutual Pharmacy building in Big Stone Gap got new
life as Curklin’s, a full-service casual dining restaurant, opened its
doors in Wise County. Wayne and Tracey Jordan are co-owners
of the new business venture which features a 170-seat restaurant
and bar on the first floor. Affordable lunch and dinner options are
offered ranging from a selection of sandwiches and wraps at lunch
to steak, chicken and pasta entrees at dinner. Cocktails are also
available to guests at the bar. Plans are to renovate space downstairs
in the building in the future for larger parties and events. The
business projects 10 full-time and 30-45 part-time employees.
NRC ESCAPE ROOM, LLC | WISE COUNTY
$10,000 SEED CAPITAL MATCHING GRANT
Sixty minutes. A locked room. One way out. The clock is ticking. In
Big Stone Gap, that means one thing – you’re at NRC Escape Room,
LLC trying to solve your way out of one of three themed rooms as
part of a fun game played with friends and/or family. Escape rooms,
like NRC Escape Room recently opened by William Neeley, of
Jonesville, Va., provide live‐action team‐based games where players
cooperatively discover clues, solve riddles and puzzles, locate secret
passages and accomplish tasks in order to find their way out of the
room. The business projects one full-time and two part-time jobs.
THE SCRIPTED GATE SIGN CO., LLC | WISE COUNTY
$10,000 SEED CAPITAL MATCHING GRANT
Andrea Hicks, of Coeburn, Va., is a firm believer that being creative
is good for the mind and the body. Hicks opened The Scripted
Gate Sign Co., LLC, a full-service do-it-yourself design workshop
and retreat mobile business that assists consumers in turning
a pile of wood into something beautiful for the home or office.
A mobile trailer allows her to bring supplies to the customer’s
location where they receive hands-on, step-by-step instruction in
building and designing their own work of art. The mobile aspect
of the new business has been successful, Hicks said, adding she has
had a waiting list to get on the calendar. In addition to taking the
business to consumers, she also hosts field trips to her workshop.
The business projects one full-time and three part-time jobs.
23
Seed Capital Projects
THOMAS’ BLACK BIRD FARM LLC | WISE COUNTY
$10,000 SEED CAPITAL MATCHING GRANT
Whether it’s tomatoes, peppers or pumpkins, when it comes to
fresh produce, Greg Estep, of Thomas’ Black Bird Farm LLC, in the
Esserville area of Wise County, Va., has one of the largest, if not the
largest tomato-pepper-pumpkin crops in Wise County. Also key to
the new business is the development of a corn maze which serves as
a tourist attraction in the fall. In addition to tomatoes, peppers and
pumpkins -- beans, Indian corn, gourds and more are also in the
plans. A seasonable vegetable stand and weekend events featuring
music, corn meal grinding, apple cider and apple butter making,
hayrides, children’s games and food on site are in the planning
stages for next fall as well. The business projects one full-time and
two part-time jobs.
TTGI2, LLC (WISE RX) | WISE COUNTY
$10,000 SEED CAPITAL MATCHING GRANT
Matt Villiard and Nick Jackson combined their 24 years of
pharmacy experience to open a hometown pharmacy in Wise,
Va. Wise Rx offers all the traditional things you would expect
in a pharmacy, but also has plans to incorporate niche services
including immunizations, long-term care, weight loss management
and disease management programs. An on-site nurse practitioner is
at the clinic which is also part of the pharmacy, offering healthcare
services as well. The business projects five full-time and one part-
time jobs.
SMALL TOWN FITNESS LLC | WISE COUNTY
$10,000 SEED CAPITAL MATCHING GRANT
Keeping the family fit is the primary goal of Small Town Fitness
LLC in St. Paul, Va. Marcus and Amelia Johnson envisioned
creating a family-oriented gym which allows for 24-hour access
to fit the schedules of a variety of patrons from all walks of life as
they planned and then opened their new business. They also added
a separate enclosed play area for small children which provides
parents with the ability to visit the gym when they otherwise might
not be able to do so. The gym offers three-month, six-month and
annual memberships and features a variety of exercise equipment
options from treadmills and ellipticals to free weights, leg machines
and more. The business projects one full-time job.
24
2019 VCEDA Marketing Events
EVENT
Tobacco Commission Reception/Meeting
Marketing DATE
1/7-8/19
LOCATION
Richmond, VA
TARGET
All Target Sectors
West Virginia Call Trip 1/21-24/19 West Virginia All Target Sectors
2019 Chamber Day @ The Capitol/Old Dominion
1/23/19 Richmond, VA All Target Sectors
Assembly Legislative Reception
VCEA Dinner/Breakfast 1/23-24/19 Richmond, VA Energy
VEDA Legislative Reception 1/28/19 Richmond, VA All Target Sectors
Utilities, Data Centers and Renewable Energy Conference 1/28-29/19 Richmond, VA Data Centers and Energy
2019 Rural Caucus Reception 1/30/19 Richmond, VA All Target Sectors
VEDP Dallas Site Consultants Event 2/26/19 Dallas, TX Site Location Consultants
Data Center World 3/19-22/19 Phoenix, AZ Data Centers
Manufacturing in America Summit and Call Trip 3/20-21/19 Detroit, MI Advanced Manufacturing
VEDA Spring Conference 3/28-29/19 Harrisonburg, VA Site Location Consultants
2019 Conference on Energy & Infrastructure 4/17-18/19 Roanoke, VA Energy/Infrastructure
AUVSI XPONENTIAL 4/30-5/2/19 Chicago, IL UAV/UAS
2019 SWVA Economic Forum 5/15/19 Wise, VA All Target Sectors
VEDP Site Location Consultant Fam Tour 5/22/19 Wise, VA Site Location Consultants
VCEA Annual Conference & Expo 5/20-21/19 Kingsport, TN Energy
2019 TVC National Summit 5/29-30/19 Chattanooga, TN All Target Sectors
Tobacco Commission Meeting 6/5-6/19 Danville, VA All Target Sectors
SelectUSA Investment Summit 6/10-12/19 Washington, DC Foreign Direct Investment
Indiana Call Trip 6/10-13/19 Indiana All Target Sectors
SWVTC Annual Awards Gala 6/13/19 Abingdon, VA IT/Emerging Technologies
Association of Woodworking & Furnishings Suppliers Fair 7/17-20/19 Las Vegas, NV Wood Products
SVAM Manufacturers’ Expo 8/13/19 Abingdon, VA Advanced Manufacturing
National HUBZone Conference 9/4-5/19 Chantilly, VA State and Federal Contractors
Automotive Composites Conference & Exhibition 9/4-6/19 Novi, MI Automotive
VEDA Fall Conference 9/18-20/19 Richmond, VA Site Locations Consultants
SVAM Manufacturers Awards Banquet 10/3/19 Abingdon, VA Advanced Manufacturing
Tobacco Commission Reception/Meeting 10/9-10/19 Marion, VA All Target Sectors
AUVSI Ridge and Valley Annual Symposium 10/15-16/19 Blacksburg, VA UAV/UAS
Boost Your Business 10/21/19 Abingdon, VA Entrepreneurs
Appalachian Power Economic Development Forum 10/23/19 Roanoke, VA All Target Sectors
7x24 Exchange Fall Conference & Call Trip 10/27-11/1/19 Phoenix, AZ Data Centers
VEDP Virginia Technology Media Tour 10/29/19 VCEDA Region Information Technology
FABTECH 11/11-14/19 Chicago, IL Advanced Manufacturing
VEDP Chicago Site Consultants Event 12/10/19 Chicago, IL Site Location Consultants
TOTAL MARKETING EVENTS (35)
25
Marketing
Marketing Southwest Virginia’s e-Region
In terms of marketing events, prospect visits, new projects, loan and grant approvals, and
loan and grant closings, 2019 was the most active year in the history of VCEDA. Topping
last year’s record of highest number of prospect visits to the region in VCEDA’s history,
1. A new VCEDA logo was introduced in 2019.
2019 became the most active year with 70 prospect visits and participation in 35 marketing
2. A two-page spread ad in Virginia Business magazine. outreach and business development events. VCEDA also recorded an all-time high of 50
new projects and expansions in 2019.
3. Cathy St. Clair, VCEDA Marketing Ambassador, left,
Susan Copeland, VCEDA Marketing Coordinator, and John Aggressive marketing to site consultants, target industries and trade show audiences using
Kilgore, Executive Director, Scott County EDA, manning lead generation firms, the VCEDA website, social media, news briefs, media relations,
the e-Region booth and representing the region at
SelectUSA in Washington, D.C. in June.
face-to-face meetings and other communication tools, helps VCEDA create interest and
invitations to visit and see what Southwest Virginia’s e-Region has to offer businesses. In
4. VCEDA Marketing Ambassador Mary Rae Carter, right, 2019 VCEDA had 174 inquiries about the Southwest Virginia’s e-Region that includes
represented VCEDA at the Rural Caucus reception in Buchanan, Dickenson, Lee, Russell, Scott, Tazewell and Wise counties and the City of
Richmond, hosted by the Virginia Association of Counties
and the Center for Rural Virginia. Pictured with Carter is
Norton.
Christy Morton, with VEDP.
In conjunction with the Virginia Economic Development Partnership, VCEDA hosted an
5. Each Virginia region that participated in the VEDP
IT media tour and a site consultant tour in the region, attended two speed networking
Dallas site consultant speed networking event was events with site consultants in Dallas and Chicago, and attended several trade shows
asked to contribute a gift representing their region to the and marketing mission trips in places such as West Virginia and Phoenix, AZ. VCEDA
consultants. Our gift was a product of one of our seed
capital grant recipients, No Holds Barred Sauces, with a exhibited and met with companies at several trade shows throughout the year including
tag describing Southwest Virginia’s e-Region program. Data Center World in Phoenix, FABTECH in Chicago, and SelectUSA in Washington, D.C.
Another member was added to the marketing team in 2019, joining Charlotte Mullins,
Cathy St. Clair and Mary Rae Carter as VCEDA Marketing Ambassadors. David Denny of
Sanford Holshouser Economic Development Consultants joined the team as a marketing
ambassador.
VIRGINIA COALFIELD ECONOMIC DEVELOPMENT AUTHORITY
v
26
6. Susan Copeland, VCEDA Marketing Coordinator, and John
v
Kilgore, Executive Director, Scott County EDA, represent
Southwest Virginia’s e-Region at VEDP’s site consultant
networking event in Dallas in February.
7. Susan Copeland, VCEDA Marketing Coordinator, Charlotte
Mullins, VCEDA Marketing Ambassador, and John Kilgore,
Executive Director, Scott County EDA, manning the
exhibit booth and meeting with companies at FABTECH in
w
Chicago in September.
8. Susan Copeland, VCEDA Marketing Coordinator, left,
joined VEDP’s Michelle Poe at the 7x24 Exchange data
center conference in Phoenix in October followed by
several days of meetings with companies in the Phoenix
region promoting opportunities in Southwest Virginia’s
e-Region and Virginia.
9. VCEDA worked with VEDP in hosting a rural IT media tour
for journalists. While in Southwest Virginia’s e-Region,
the group met with UVA-Wise and CGI officials to learn
more about the IT education pipeline and opportunities
in the region.
x
27
2019 VCEDA Loan Approvals
LOANS
Buchanan County Buchanan County IDA/Paul’s Fan Company
Loans APPROVED
11/21/19
AMOUNT
$5,610,000.00
Lee County Lee County IDA/England Furniture (Loan Increase) 8/15/19 $20,000.00
Lee County Paul’s Fan Company 11/21/19 $1,025,000.00
Russell County Russell County IDA/Polycap LLC 2/14/19 $3,373,287.00
Russell County Russell County IDA/Clinch River Hemp Company 8/15/19 $2,000,000.00
Tazewell County Lawrence Brothers, Inc. 2/14/19 $600,000.00
Tazewell County Clinch Mountain Motorworks, LLC 2/14/19 $155,500.00
Tazewell County Back of the Dragon Properties 1 LLC 8/15/19 $150,000.00
Wise County Wise County IDA/Carbon Research and Development Co. 2/14/19 $1,500,000.00
Grants
TOTAL LOANS (9) $14,433,787.00
2019 VCEDA Grant Approvals
GRANTS APPROVED AMOUNT
Buchanan County Buchanan County IDA/Southern Gap Master Plan Update 8/15/19 $88,118.10
Buchanan County Buchanan County IDA/Southern Gap Infrastructure & Development 11/21/19 $2,154,240.00
Buchanan County Dismal River Trucking, LLC 11/21/19 $10,000.00
Buchanan County Fired Up Pottery 11/21/19 $10,000.00
Buchanan County Daisy s Cabins LLC 11/21/19 $10,000.00
Buchanan/Dickenson Counties Breaks Interstate Park Commission 4/18/19 $106,762.00
Buchanan/Dickenson Counties Breaks Interstate Park Commission 6/27/19 $15,137.60
Buchanan/Dickenson Counties Breaks Interstate Park Commission 11/21/19 $433,000.00
Dickenson County Misty Mountain Bit LLC 4/18/19 $10,000.00
Dickenson County Sergent Tire, LLC 4/18/19 $10,000.00
Dickenson County Kiwanis Club of Haysi/Mountaintop Campground 8/15/19 $35,000.00
Dickenson County Southwest Regional Recreation Authority/Archery Complex 8/15/19 $149,945.00
Dickenson County Viers Medical Clinic PLLC 11/21/19 $10,000.00
Dickenson County Down Home Spirits, LLC 11/21/19 $10,000.00
Dickenson County Black Diamond Gym & Spa LLC 11/21/19 $10,000.00
Dickenson County Frost Bite LLC 11/21/19 $10,000.00
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Dickenson County Dickenson Shooting Sports 11/21/19 $10,000.00
Lee County Better Living Home Care LLC 4/18/19 $10,000.00
City of Norton Lincoln Road Virginia, LLC 4/18/19 $10,000.00
City of Norton Winze Company LLC 4/18/19 $10,000.00
Russell County Appalachian Turf 4/18/19 $10,000.00
Russell County Preston Ball Photography LLC 4/18/19 $10,000.00
Russell County Redbud Family Medicine, LLC 4/18/19 $10,000.00
Russell County SWCC Educational Foundation/Training Equipment 6/27/19 $265,565.43
Russell County Town of Lebanon/Russell Theater 8/15/19 $150,000.00
Russell County Beartown Barbell Club LLC 11/21/19 $10,000.00
Russell County The Local Mercantile, LLC 11/21/19 $10,000.00
Russell County Cheesy does it LLC 11/21/19 $10,000.00
Russell/Tazewell Counties SWCC Educational Foundation/Events Center Study 2/14/19 $77,000.00
Scott County Fat Cat Farm, LLC 4/18/19 $10,000.00
Scott County JAG Service, LLC 4/18/19 $10,000.00
Scott County D&LP 11/21/19 $10,000.00
Tazewell County American Dirt LLC 4/18/19 $10,000.00
Tazewell County The Lost Pearl Gallery, LLC 4/18/19 $10,000.00
Tazewell County MSS Webb’s Spa & Boutique, LLC 4/18/19 $10,000.00
Tazewell County Historic Crab Orchard Museum (Grant Increase) 8/15/19 $50,000.00
Tazewell County TP’s Home Remodeling Small Engine Repair LLC 11/21/19 $10,000.00
Tazewell County Coaltown Taps, LLC 11/21/19 $10,000.00
Tazewell County The Red Roof Home, LLC 11/21/19 $10,000.00
Tazewell County PK Fitness Inc. 11/21/19 $10,000.00
Wise County The Big Stone Gap General Store & Café, LLC 4/18/19 $10,000.00
Wise County Curklin’s LLC 4/18/19 $10,000.00
Wise County NRC Escape Room, LLC 4/18/19 $10,000.00
Wise County The Scripted Gate Sign Co., LLC 4/18/19 $10,000.00
Wise County Thomas’ Black Bird Farm LLC 4/18/19 $10,000.00
Wise County UVA-Wise Foundation/Clinch River Ecological Education Center 4/18/19 $486,994.82
Wise County TTGI2, LLC dba Wise Rx 11/21/19 $10,000.00
Wise County Small Town Fitness LLC 11/21/19 $10,000.00
TOTAL GRANTS (48) $4,371,762.95
TOTAL LOANS & GRANTS (57) $18,805,549.95
29
The Virginia Coalfield Economic Development
Authority (VCEDA) Board: From left, (front) Dana
Kilgore; Esther Bolling; Shelbie Willis; Maggie
Asbury; Becky Coleman; Carroll Branham; Larry
Mosley and Rob McClintock (representing VEDP
and Vince Barnett); and (back) Jonathan Belcher,
VCEDA executive director/general counsel; Harry
Childress; Troy Nichols; Frank Underwood; Jim
Baldwin; Duane Miller; Josh Ball; J.P. Richardson,
VCEDA chairman; and Mark Leonard.
Virginia Coalfield Economic Development Authority Board of Directors
OFFICERS COAL PRODUCERS VIRGINIA COAL & ENERGY ALLIANCE COUNTY BOARD OF SUPERVISORS
VCEDA
J.P. Richardson | Chairman Troy Nichols Harry Childress Carroll Branham | Buchanan County
Frank Underwood | Secretary Paramont Coal Company
Virginia, LLC Shelbie Willis | Dickenson County
PLANNING DISTRICT COMMISSIONS
Esther Bolling | Treasurer Dana G. Kilgore | Wise County
J. P. Richardson Jim Baldwin
Surface Minerals Company Cumberland Plateau PDC
GOVERNOR’S APPOINTEES VIRGINIA ECONOMIC
Frank Underwood Duane A. Miller
Maggie Asbury DEVELOPMENT PARTNERSHIP
CBMC/Buchanan Minerals, LLC LENOWISCO PDC
Esther Bolling Vince Barnett
Becky Coleman GAS PRODUCER
Mark T. Leonard Joshua Ball
Larry Mosley CNX Resources
Virginia Coalfield Economic Development Authority
Statement of Cash Receipts & Disbursements—Year Ended December 31, 2019
CASH RECEIPTS CASH DISBURSEMENTS
Administrative Uncommitted
Fund Balance & Business Dev. Project Fund Balance Available
Coal & Gas Fund 1/1/19 Receipts Interest Earned Loans Collections Expenses Loans & Grants 12/31/19 Balance
Buchanan County $ 10,366,402 $ 2,196,558 $ 271,097 $ 62,585 $ 282,352 $ 1,332,987 $ 11,281,303 $ 437,838
Dickenson County 11,697,023 1,045,640 287,026 79,571 121,627 844,425 12,143,208 10,370,833
Lee County 13,390 16,106 10,194 600,000 287 400,000 239,403 119,403
City of Norton 62,987 - 1,264 900 - 25,000 40,151 40,151
Russell County 157,094 110,530 8,319 323,236 16,693 38,500 543,986 193,986
Scott County 70,060 765 1,731 - 93 - 72,463 72,463
Tazewell County 2,907,385 254,679 46,837 323,834 26,039 1,843,442 1,663,254 1,049,494
Wise County 2,761,800 292,417 48,733 1,150,186 31,706 1,748,322 2,473,108 2,473,108
Regional 5,253,933 597,237 129,157 197,803 353,432 740,025 5,084,673 3,596,410
Total Coal & Gas Fund $ 33,290,074 $ 4,513,932 $ 804,358 $ 2,738,115 $ 832,229 $ 6,972,701 $ 33,541,549 $ 18,353,686
Other Funds:
Tax Credit Funds
Revolving Loan $ 14,346,733 $ 1,502,058 $ 355,691 $ - $ 111 $ 2,949,327 $ 13,255,044 $ 10,656,084
Workforce 21,393,251 - 504,909 - - 2,343,293 19,554,867 6,507,498
Total Tax Credit Funds $ 35,739,984 $ 1,502,058 $ 860,600 $ - $ 111 $ 5,292,620 $ 32,809,911 $ 17,163,582
Civil Penalties $ 366,539 $ 525,187 $ 12,471 - - $ 230,483 $ 673,714 $ 218,644
CFO Funds $ 376,443 - $ 517 $ 32,536 - - $ 409,496 $ 409,496
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INDEPENDENT AUDITOR’S REPORT
The Board of Directors
Virginia Coalfield Economic Development Authority
Lebanon, Virginia 24266
Report on the Financial Statements
We have audited the statement of cash receipts and disbursements of Virginia Coalfield Economic Development Authority for the year ended December 31, 2019 and the
related notes to the financial statements.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance with the recorded cash receipts and disbursements basis of
accounting described in Note 1; this includes determining that the basis of recorded cash receipts and disbursements is an acceptable basis for the preparation of the financial
statements in the circumstances. Management is also responsible for the design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to error or fraud.
Auditor’s Responsibility
Our responsibility is to express an opinion on the financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted
in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United
States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on
the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express
no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by
management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Opinion
In our opinion, the accompanying statement of cash receipts and disbursements presents fairly, in all material respects, the recorded cash transactions of Virginia Coalfield
Economic Development Authority for the year ended December 31, 2019, in accordance with the cash basis of accounting described in Note 1.
Basis of Accounting
We draw your attention to Note 1 of the financial statement, which describes the basis of accounting. The financial statement was prepared on the basis of recorded cash
receipts and disbursements which is a basis of accounting other than accounting principles generally accepted in the United States of America. Any cash receipts and other
transactions not recorded in the accounts are excluded from this basis of accounting, as well as from the purview of our audit. Accordingly, the accompanying financial
statements are not intended to present the financial position and changes in fund balances in accordance with generally accepted accounting principles. Our opinion is not
modified with respect to this matter.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated February 28, 2020, on our consideration of Virginia Coalfield Economic
Development Authority’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant
agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of
that testing, and not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance
with Government Auditing Standards in considering Virginia Coalfield Economic Development Authority’s internal control over financial reporting and compliance.
Norton, Virginia
February 28, 2020
VIRGINIA COALFIELD ECONOMIC DEVELOPMENT AUTHORITY
NOTE TO FINANCIAL STATEMENTS
December 31, 2019
NOTE 1 - NATURE OF ACTIVITIES AND SIGNIFICANT ACCOUNTING POLICIES
Financial Reporting Entity – Virginia Coalfield Economic Development Authority accounts for all funds received from tax and grant receipts, investment earnings, loan collections and
related expenditures for the eight participating localities.
Cash basis of accounting – As is the case of many funds of this type, the accounts are maintained, and the statements are presented, on a cash basis, reflecting only recorded cash receipts
and cash disbursements. Therefore, cash collected and not recorded in the general ledger, receivables, and payables, inventories, accrued revenue and expenditures, and equipment and
depreciation, which may be material in amount, are not reflected, and these statements are not intended to present the overall financial position or results of operations in conformity with
generally accepted accounting principles.
Cash and cash equivalents – For purposes of reporting cash, the Authority considers all certificates of deposit, savings accounts, and money market funds with an original maturity of three
months or less to be cash equivalents.
Deposits with banks are covered by the Federal Deposit Insurance Corporation (FDIC) and collateralized in accordance with the Virginia Security for Public Deposits Act (the “Act”) Section
2.2-4400 et. Seq. of the Code of Virginia. Under the Act, banks and savings institutions holding public deposits in excess of the amount insured by the FDIC must pledge collateral to the
Commonwealth of Virginia Treasury Board. Financial Institutions may choose between two collateralization methodologies and depending upon that choice, will pledge collateral that ranges
in the amounts from 50% to 130% of excess deposits. Accordingly, all deposits are considered fully collateralized.
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SOUTHWEST VIRGINIA’S e-REGION IS MARKETED BY VCEDA
Virginia Coalfield Economic Development Authority
P.O. Box 1060 | Lebanon, Virginia 24266 | 276.889.0381 | www.vaceda.org | www.facebook.com/vaceda | @VAeRegion
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