VCEDA closes $250,000 loan for Dickenson County business expansion
December 29, 2009
LEBANON – December 29, 2009 – The Virginia Coalfield Economic Development Authority closed a $250,000 loan today to Mountain Forest Products, LLC to expand its Dickenson County wood products business.
Mountain Forest Products acquires, processes and sells wood products for the paper (chips) and power (biomass) industries at its Clintwood facility. Approved by the VCEDA board of directors at its Dec. 17 meeting, the $250,000 loan will be used to pay toward new machinery, and the company expects to add several new direct and indirect jobs over the next few years as a result of the project.
“Existing business expansion plays a key role in a region’s growth. VCEDA is happy to be a part of the expansion plans at Mountain Forest Products,” said Jonathan Belcher, VCEDA executive director.
Belcher said a second Dickenson County existing business also saw growth in 2009. Serco, formerly SI International, which has operated a customer support call center in the Dickenson County Technology Park since 2005, has increased employment from 105 to approximately 130 full-time employees over the last year or so. Belcher said the company provides call center and customer support services for a federal government agency.
“With events such as the business expansions at Mountain Forest Products and Serco, the opening of the new Dickenson Center for Education and Research, and EQT’s new facility, a lot of positive progress is happening in Dickenson County,” said Belcher. “The employees and businesses in Dickenson County, the Dickenson County Board of Supervisors, and Dickenson County Industrial Development Authority are to be commended for helping make Dickenson County a great place to do business.”