Home Virginia commits just under $1M to Southwest Virginia private company expansion

Virginia commits just under $1M to Southwest Virginia private company expansion

virginia business economy
(© michaklootwijk – stock.adobe.com)

A Tazewell-based mining-equipment manufacturer is getting just short of a million dollars from Virginia to go toward an expansion of its operations into Russell County.

Simmons Equipment Company generated the bidding war between Virginia, West Virginia and Tennessee for the $8.5 million expansion that it announced on Monday.

The Virginia Coalfield Economic Development Authority approved a $500,000 loan to the Industrial Development Authority of Russell County for facility improvements and a $187,500 workforce development and training grant to the company.

Gov. Glenn Youngkin chipped in with a $270,000 grant from the Commonwealth’s Opportunity Fund, and Simmons Equipment Company is also eligible to receive state benefits from the Major Business Facility Job Tax Credit for new, full-time jobs created.

Today’s announcement reported that the company projects 75 new jobs to come from the expansion.

“We are thrilled to be expanding our operations into Russell County,” said Matt Simmons, the president and CEO at Simmons Equipment Company, which was founded in 2005. “Our business has been growing into new markets worldwide, and this additional manufacturing capacity will allow us to aggressively pursue those opportunities. After an extensive search, we are excited to continue our growth here in Southwest Virginia.”

Chris Graham

Chris Graham

Chris Graham, the king of "fringe media," is the founder and editor of Augusta Free Press. A 1994 alum of the University of Virginia, Chris is the author and co-author of seven books, including Poverty of Imagination, a memoir published in 2019, and Team of Destiny: Inside Virginia Basketball’s Run to the 2019 National Championship, and The Worst Wrestling Pay-Per-View Ever, published in 2018. For his commentaries on news, sports and politics, go to his YouTube page, or subscribe to his Street Knowledge podcast. Email Chris at [email protected].