Lebanon, VA (August 10, 2017) – The Virginia Coalfield Economic Development Authority (VCEDA) took part in the official announcement today of the opening of Trina Health of Pounding Mill, LLC. VCEDA recently closed on an up to $400,000 loan to the new company which is now operating an innovative diabetes treatment center in Tazewell County.
Funding for the loan is from Tazewell County’s VCEDA account. The new center is located in 2,400-square-feet of space in an existing building located on U.S. Rt. 19/460 across from the Pounding Mill Wal-Mart.
The loan funds are being used to finance the purchase of furniture, fixtures, and equipment and installation expenses, as well as facilities construction and up-fit, parking area improvements, paving and associated costs.
Trina Health of Pounding Mill, LLC is a private, for-profit Virginia company which acquired the rights to own and operate the clinic in the Tazewell County area utilizing a breakthrough technology from Trina Health, LLC, founded by G. Ford Gilbert, based in California. The technology is known as “Artificial Pancreas Treatment” for patients with type 1 and type 2 diabetes.
“VCEDA is pleased to be able to assist Trina Health of Pounding Mill, which as it opened has already created much-needed new jobs in our area,” said Jonathan Belcher, VCEDA executive director/general counsel. “VCEDA’s goal is to help create as many new jobs as possible in our region, and this is one example of how we are working toward doing that.”
Staffing for the Tazewell County clinic includes positions for nurse practitioners, registered nurses, licensed practical nurses, a medical billing person and a receptionist/scheduler.
The group’s loan application called for phased in employment starting at eight full-time and two part-time employees within a year; 15 full-time and two part-time employees within two years; and 21 full-time and two part-time employees within five years.
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 and emerging technologies. 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.