The Virginia Coalfield Economic Development Authority (VCEDA) was formed by the Virginia General Assembly in 1988 to enhance and diversify the economy of the sevencounty, one-city coalfield region of Southwest Virginia, which includes the counties of Buchanan, Dickenson, Lee, Russell, Scott, Tazewell and Wise and the City of Norton. Since VCEDA was formed, the region has seen the creation of tens of thousands of jobs, billions in private investment, the economic diversity index of the region has improved by more than 250%, and the region’s unemployment rate has been cut by at least half.

2022 saw the region build upon these successes despite the lingering effects of the COVID-19 pandemic and high national inflation. Some of these successes included:

» The announcement of 43 new projects in the region, projected to create 365 full-time and 141 part-time jobs and $35,879,701 in private investment.

» The announcement of 7 expansion projects in the region, projected to create 344 fulltime and 50 part-time jobs and $184,475,200 in private investment.

» The approval by the VCEDA Board of 54 loans and grants for $9,524,604 in new VCEDA funding.

» Thirty-seven new business start-ups in the region supported by grants from VCEDA’s Seed Capital Matching Fund program, projecting 126 full-time and 141 part-time jobs.

» Twenty-five outreach marketing events to promote the region, which VCEDA promotes as Southwest Virginia’s e-Region, throughout the United States.

» The raising of $8.995 million in federal funding for the Coalfields Expressway, in conjunction with the Virginia Coalfields Expressway Authority and the region’s federal legislators.

Important projects announced during the year in the region included the Coronado Global expansion in Buchanan and Tazewell Counties; the K-VA-T Food Stores expansion and a new substance abuse rehabilitation facility in Dickenson County; expansions by Polycap and Bates Family Farm in Russell County; the locations of Signco, Ronald Mark Associates, and Blackstone Data Services to Tazewell County as well as expansions by Appalachian Millworks & Cabinetry and AMR PEMCO in that county; and a host of new business start-ups in the region including Whistle Pig Country Store in Lee County, Air Fiber Communications in Russell County, and 12 new business start-ups in Wise County, the most Seed Capital-supported start-ups of any county.

As always, the successes of 2022 were possible because of the region’s team approach as VCEDA and its economic development allies work towards a common goal for the betterment of the region. It is this team approach that will continue to be critical as the region perseveres in its challenge to enhance and diversify the economy of the coalfields of Virginia.