VCEDA closes grant for site development at regional industrial park
February 27, 2012
LEBANON – February 27, 2012 – The Virginia Coalfield Economic Development Authority (VCEDA) held a closing ceremony today for a grant of up to $500,000 to the Russell County Industrial Development Authority (IDA) for site development in the Cumberland Plateau Regional Industrial Park in Lebanon.
The VCEDA board of directors approved the grant from the VCEDA Regional Industrial Park Matching Fund during its Dec. 15, 2011 meeting to be used to assist with the development of additional sites in the park.
The Russell County IDA recently purchased 29.92 acres of land in the Cumberland Plateau Regional Industrial Park and has plans to develop new sites on this land to prepare the property for marketing to potential prospects, said VCEDA Executive Director Jonathan Belcher.
“It is VCEDA’s mission to help diversify the economic base of this region, and it is important to continue to develop marketable sites for new business location and expansion,” said Donald Baker, VCEDA board chairman. “VCEDA is glad to be of assistance on this project,” said Baker.