TAZEWELL, Va. — Tazewell County is receiving a boost for a new business that will make medical kits.
The board of the Virginia Coalfield Economic Development Authority (VCEDA) on Thursday approved a grant of up to $170,000 to be used to finance a medical manufacturing feasibility study and the build-out of a medical incubator.
The incubator will be able to make medical kits for a pilot study project, the production of the medical kits themselves and funding to deploy the medical kits in the region in association with health partners, according to VCEDA.
Southern District Supervisor Mike Hymes represents the county on the VCEDA board.
“This is a great and innovative project which will bring jobs to Tazewell County and attack the serious health issue of cervical cancer,” he said of the medical kits. “This demonstrates our county’s and VCEDA’s commitment to diversify our economy.”
Hymes said Del. James W. “Will” Morefield was instrumental in the project.
“I want to thank Del. Morefield for his leadership in finding an alternate manufacturing location for this group in the southern district of Tazewell County,” Hymes said.
The board also approved several Tazewell County businesses for seed capital matching grant funds up to $6,500 each.
Those businesses are: ClearSight Eye Care, Amber Hurley, OD, PLLC; Connie Allen d/b/a Pinkway; Craft Connection, LLC; Elite Fitness @ Richlands, LLC; Nancy Grant d/b/a Nancy’s Downtown Boutique; and Southwest Virginia Energy Consultants, Inc.
Buchanan County businesses approved for the loan included Scott Davis d/b/a Competitive Performance; Country Roads Cabin Rental LLC; and Deskins HomeTown Pharmacy, Inc..
The board also okayed an up to $500,000 loan for the Russell County Industrial Development Authority be used to finance the purchase of real estate, site development, building rehabilitation and improvements and other improvements to assist with the acquisition and development of a building in Lebanon for a pending project.
A study by Virginia Tech of VCEDA’s seed capital matching grant program which was released in April found 300 jobs had been created and retained in Southwest Virginia, achieving a total economic impact in the e-Region of $34.2 million. The study found the impact of the program on the region represents the realization of a return on investment of 33:1.
VCEDA Executive Director/General Counsel Jonathan Belcher reported to the board activity remains strong in 2021 with the authority currently working on 59 active projects, with hundreds of companies having been contacted in the preceding year to encourage them to locate facilities and jobs in the region.
Belcher said two important industry expansions had been announced since the April board meeting, including the SunCoke Energy announcement in Buchanan County and Lawrence Brothers Inc. in Tazewell County.
— Contact Charles Boothe at [email protected]