Virginia Coalfield Economic Development Authority issues loans, grant for fiber optic network to Wise County

Fiber Optics Weekly Update, Nov 5, 2004

Local officials held a closing ceremony on November 1, 2004, for $1.17 million in loan and grant funding for the county Industrial Development Authority.

"These all are very important infrastructure investments into Wise County," said Jonathan Belcher, deputy executive director of the Virginia Coalfield Economic Development Authority (VCEDA).

VCEDA awarded a $75,000 grant for installation of "last-mile" fiber-optic lines to the Esserville industrial park.

All of these improvements further enhance the sites, help attract companies and lead to new jobs, says Donald Baker, chairman of VCEDA's board of directors. "We're very pleased that the coalfield authority can be of assistance and help to Wise County," he said. "We're very pleased and happy to be a part of this."

"We're very excited about these projects," said John Peace II, VCEDA board member and Wise County Board of Supervisors chairman. Each of these initiatives helps as local officials work to move the foundation of the county's economy "from coal mines to computer chips," he says.