Helping create jobs in Southwest Virginia’s e-Region
Southwest Virginia’s e-Region is marketed by the Virginia Coalfield Economic Development Authority also known as VCEDA.
VCEDA is a regional economic development organization created by Virginia’s General Assembly in 1988 to enhance and diversify the economic base of the seven-county, one-city, coal-producing region in southwestern Virginia.
Since its creation in 1988, VCEDA has helped bring over 20,000 jobs and more than $204 million in approved funding for 303 projects throughout the coalfield region.
The region includes Lee, Wise, Scott, Buchanan, Russell, Tazewell and Dickenson counties and the City of Norton. It is an emerging East Coast center for key areas for business – electronic information technology, energy, education, emerging technologies and entrepreneurs.
A trendsetter in broadband and 4G wireless access in rural America, Southwest Virginia’s e-Region has low costs of doing business, the workforce, tailored training, available buildings up to 285,000 sq. ft., sites up to 800 acres in new technology and business parks, and a way of life that makes employers and their employee families very happy.
To encourage diversification and create new jobs, VCEDA manages unique financing programs funded by taxes paid by the coal and natural gas industries in the region.
Financing is based in part upon the number of new jobs created, wage rates and amount of private investment.
To find out more about VCEDA’s financing programs, Click Here.
Unique incentive and financing programs to encourage job creation and economic diversification.
*Financial support for:
- Purchase of real estate
- Site grading
- Building construction
- Equipment and machinery
- Industrial parks
- Direct loans to private, for-profit employers & industrial development authorities
* Financing is based in part upon the number of new jobs created, wage rates and amount of private investment.
Next scheduled meeting of the Virginia Coalfield Economic Development Authority Board is at 3 p.m. November 21, 2019 at the VCEDA Office, 527 E. Main St., Lebanon, VA 24266. Committee Meetings: Executive - Noon to 1 p.m.; Business Development - 1 to 1:30 p.m.; Finance - 1:30 to 2 p.m.; Project Review - 2 to 3 p.m.
Southwest Virginia's e-Region is marketed by the Virginia Coalfield Economic Development Authority - VCEDA - a regional economic development organization created by Virginia's General Assembly in 1988 to enhance and diversify the economic base of the seven-county, one-city, coal-producing region in southwestern Virginia. Since its creation, VCEDA has helped create more than 20,000 jobs.