Four Million Dollars Approved For Regional Economic Development

Virginia Coalfield Economic Development Authority Press Release
Published: November 20, 2008

VCEDA approved up to $2 million to the Wise County Industrial Development Authority (IDA) for the development of the Appalachia America Energy Research Center in Wise County, a research and development facility with an emphasis on energy-affiliated initiatives.

“This is an important energy research center that already has its first tenant in a planned new multi-tenant facility to be constructed in the Lonesome Pine Regional Business and Technology Park in Wise,” said Jonathan Belcher, VCEDA executive director. “Supporting projects such as this new research center is a good example of how this region can continue to grow and progress and plan for the future, while taking full advantage of our regional educational and natural resources.”

Belcher said VCEDA approved up to a $1,045,000 grant and a $955,000 loan for the center to be constructed by the Wise County IDA. The Virginia Tobacco Commission has awarded the Wise County IDA $5 million grant funding for the project.

Planners say the new center’s mission is to provide research space and an atmosphere for collaboration between the public and private sector, specifically in the arena of clean coal technology, coal-to-liquid fuels, environmental remediation measures in energy generation, alternative fuels and prototype development facilities for such projects.

Other action by the board:

-Approved up to a $1.5 million grant to the IDA of Tazewell County to be used to pay toward site development costs for phase 1 of The Bluestone Regional Business and Technology Park in Tazewell County. Located near Bluefield, The Bluestone is a 680-acre mixed-use development that will include sites for new businesses and industry, a workforce training center, offices, a hotel and conference center, retail stores, residential units, a nine-hole golf course and walking trails. The grant was approved from the VCEDA Regional Industrial Park Matching Fund.

-Approved up to a $240,455 loan to KCG Call Centers, LLC at Pennington Gap for new telecommunications equipment for its Lee County customer contact center located in the Patriot Center. Currently the center employs 111 full-time employees and projects adding 200 employees within five years with having the new equipment.

-Approved up to $200,000 loan to the IDA of Lee County to be used for development costs for the expansion and completion of a new shell building under construction at Constitutional Oaks Business Park into an approximately 60,000 sq. ft. shell building.