LEBANON, VA – MARCH 4, 2026 – Fifty-nine loans and grants totaling $18,759,753 in new funding for projects in the seven-county, one-city region Virginia Coalfield Economic Development Authority (VCEDA) region were approved by the VCEDA board in 2025. The projects are expected to help create and retain 584 full-time and 124 part-time jobs and generate $180,214,443 in private investment, marking one of the highest funding years in VCEDA’s history.

Those statistics and more are found in the VCEDA 2025 Annual Report filed Monday with Virginia Governor Abigail Spanberger and the Virginia General Assembly.

Thirty-three projects were announced in 2025, including new locations and existing industry expansions within the region. Twenty-six were new business start-ups supported by grants from VCEDA’s Seed Capital Matching Fund program, projected to create 100 full-time and 106 part-time jobs within five years which also anticipate private investment of $2,035,918.

Since the seed capital program was created in 2017, a total of 230 businesses have been approved for match funding, projected to create a total of 1,714 full- and part-time jobs within five years. Total investment by these businesses in a five-year period is projected to be $14 million.

Another highlight in 2025 was the opening of an additional 2.74 miles of the Coalfields Expressway. VCEDA provides staff support for the Virginia Coalfields Expressway Authority. Identifying and obtaining further funding for the project remains one of the most pressing issues going into 2026. Throughout the year, the Virginia Coalfields Expressway Authority worked with both federal and state legislators to obtain funding to continue to advance sections of the project. The addition of the new mileage in 2025 brings the total mileage of the CFX completed and open for travel in Virginia to 4.95 miles — approximately 10 percent of the total mileage of the expressway in Virginia. An additional 2.07 miles of the expressway is expected to open in late 2027.

VCEDA was formed by the Virginia General Assembly in 1988 to enhance and diversify the economy of the seven-county, one-city coalfield region of Southwest Virginia, which includes the counties of Buchanan, Dickenson, Lee, Russell, Scott, Tazewell and Wise and the City of Norton. Since VCEDA was formed, the region has seen the creation of tens of thousands of jobs, billions in private investment, the economic diversity index of the region has improved by more than 250 percent and the region’s unemployment rate has been cut by at least half.

“As always, the successes of 2025 were possible because of the region’s team approach as VCEDA and its economic development allies work toward a common goal for the betterment of the region,” said VCEDA Executive Director/General Counsel Jonathan Belcher. “It is this team approach that will continue to be critical as the region continues to work to enhance and diversify the economy of the coalfields of Virginia.”

Important projects announced during the year in the region included:

• the location of Appalachian Highlands Housing Partners, projecting 89 new full-time jobs, assisted by an up to $3 million loan approved by VCEDA to the Russell County Industrial Development Authority;
• an expansion announced by West River Conveyors of its operations in Buchanan County, creating and retaining 56 jobs, assisted by an up to $4 million loan approved by VCEDA;
• a major expansion of VFP Inc.’s manufacturing operations in Scott County, projected to create 200 new jobs and $35 million in private investment and assisted by an up to $312,500 grant and up to $3 million loan earmark from VCEDA;
• an expansion by White Rock Truss and Components in Lee County, projecting 27 new jobs, which is supported by an up to $500,000 loan approved in 2024 by VCEDA to the Lee County Economic Development Authority; and
• an expansion by Tate, which already operates a data center components manufacturing facility in the region at St. Paul, VA, to the former Alcoa building in Lebanon, VA and creating at least 35 new jobs, supported by a $4 million loan approved in 2024 by VCEDA to the Russell County IDA.

Job-creating expansions by Simmons Equipment Company and Lawrence Brothers, Inc. were also announced, both supported by loans from VCEDA. Loan and grant funds were approved by VCEDA for a variety of other projects throughout the year including those for infrastructure development, telehealth, workforce development and training, tourism development and entrepreneurship.

VCEDA also continued to promote the region economically as Southwest Virginia’s e-Region through marketing and business development in 2025, participating in 31 outreach marketing events throughout the year.

“VCEDA remains committed to its mission and role in assisting to enhance the region’s economy,” said 2025 VCEDA Board Chairman J.P. Richardson. “We look forward to working with the Governor’s Office and the General Assembly to help our region continue to diversify and grow.”

Members of the VCEDA Board for 2025 included J.P. Richardson, chairman; Greg Edwards, vice chairman; Troy Nichols, secretary; Brian Hess, treasurer; Andy Hrovatic, Sonny Ciampanella, Roger Rife, Chris Hall, Shanna Plaster, Gerald Lawson, Barbara Altizer, Duane Miller, Scotty Wampler, Tim Stuller, Matthew Hill and Sim Ewing.

A copy of the full annual report may be found at https://vceda.us/wp-content/uploads/2026/03/Annual-Report-2025-Final.pdf.

About Virginia Coalfield Economic Development Authority and Southwest Virginia’s e-Region: The Virginia Coalfield Economic Development Authority, created by the Virginia General Assembly in 1988 to enhance and diversify the region’s economy and help create jobs, markets Southwest Virginia’s e-Region and its focus on electronic information technology, energy, education, emerging technologies, and entrepreneurship. VCEDA is a unique economic development organization that manages funds for economic development projects from a percentage of the coal and natural gas severance taxes paid by coal and natural gas companies that operate in the region. Located in southwestern Virginia, the region includes Buchanan, Dickenson, Lee, Russell, Scott, Tazewell, and Wise counties and the City of Norton. www.vceda.us or www.e-Region.org.

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PHOTO CAPTION: VCEDA 2025 Board Members, from left, (front) were Andy Hrovatic, Sonny Ciampanella, Roger Rife, Chris Hall, Shanna Plaster, Gerald Lawson, Barbara Altizer and Duane Miller; with (back) VCEDA Executive Director/General Counsel Jonathan Belcher; and board members, Scotty Wampler, Tim Stuller, Matthew Hill, Troy Nichols, Brian Hess, Greg Edwards, J.P. Richardson and Sim Ewing.