VCEDA closes loan to help retain jobs at industrial facility

GRUNDY – April 9, 2010 - The Virginia Coalfield Economic Development Authority held a closing ceremony today for a loan of up to $120,000 to the Buchanan County Industrial Development Authority to help with the costs of roof-related repairs for the Council Manufacturing Facility located in the Council Industrial Park in Buchanan County.

Presently occupied by Potomac Field Gear, the 24,000-sq.-ft. industrial facility was originally constructed in 1994 with loan funds provided by VCEDA, and now needs a new roof. Over 48 people currently work at the facility.

“This funding was needed by Buchanan County to help them make the necessary building improvements to be able to keep Potomac Field Gear in the building. We believe it is smart business practice and a good idea to provide funding to help our region’s manufacturers,” said Jonathan Belcher, VCEDA executive director.