LEBANON, VA – July 30, 2018 – Three coalfield region companies have increased sales and employment during the two years they participated in a pilot program sponsored by the Virginia Coalfield Economic Development Authority (VCEDA) designed to assist coal and energy technology businesses in expanding their international business.
The second class of companies that graduated earlier this month from the Go Global with Coal and Energy Technology (GGCET) program included Paul’s Fans and West River Conveyors and Machinery Co. of Buchanan County, and Norris Screen and Manufacturing of Tazewell County.
In addition to increasing their sales by 38.4 percent and increasing their employment by 27 percent, the three companies in the 2016-2018 GGCET class traveled to nine countries, some multiple times, participated in six international trade shows, participated in eight international trade missions, translated marketing material and websites into multiple languages, and identified new partners.
The GGCET program, a collaboration of VCEDA, the Governor’s Office and the Virginia Economic Development Partnership (VEDP), was created in 2015 and announced by then Governor Terry McAuliffe at the PEMCO Corporation in Bluefield, Va., one coalfield region company in the first class of participants. Modeled and linked to VEDP’s VALET (Virginia Leaders in Export Trade) program, GGCET offered a combination of resources provided by VCEDA and VEDP and professional services from private sector partners to assist the region’s coal and energy technology companies with support and access to resources to help expand their international sales and markets.
Eight coalfield region companies have participated in the GGCET program: Ceramic Technology, Inc.; Consolidated Steel, Inc.; PBE USA; PEMCO Corporation; Simmons Equipment Co. (2015-2017 class); Paul’s Fans; West River Conveyors and Machinery Co.; Norris Screen and Manufacturing (2016-2018 class).
About Virginia Coalfield Economic Development Authority and 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 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.vaceda.org or www.e-Region.org.