State Economic Development Authority announces $6 million in economic development loans

CHARLESTON — The West Virginia Economic Development Authority Board of Directors approved more than $6 million in loans to four businesses — including one in Tucker County — at its August meeting last week.

Loans were granted to businesses in Greenbrier, Nicholas, Mercer and Tucker counties.

“We’re doing everything we can here in West Virginia to develop and advance business prosperity and economic welfare and I want to thank the WVEDA for being part of that process by providing financial assistance to some truly incredible businesses today,” said Gov. Jim Justice, who is Chairman of the WVEDA.

The following companies were awarded loans on Thursday, Aug. 19:

West Virginia Great Barrel Company, Greenbrier County
The board approved a $1.1 million loan to the West Virginia Great Barrel Company, a whiskey barrel manufacturer in Caldwell. The loan is funded by CARES Act money and will be used to purchase equipment.

Classic Marble Company, Nicholas County
The board approved a $240,000 loan to the Classic Marble Company, a family business in Nettie that specializes in designing and manufacturing marble and granite kitchen and bathroom products. The loan will be used to purchase real estate and equipment.

Industrial Plating and Machine, Mercer County
The board approved a $2.1 million loan to Industrial Plating and Machine, a manufacturer of mining equipment located in Bluefield. The loan is funded by CARES Act money and will be used to purchase equipment and inventory.

GSM Realty, Tucker County
The board approved loans for $540,000 and $2,031,750 to GSM Realty of Parsons, formerly known as GS Millwork and Parsons Woodworking. The company, which specializes in custom architecture and woodwork, will use the loan to purchase the former Parsons Shoe Factory and install new equipment in the 60,000 square foot space.

Share on facebook
Share on twitter
Share on print
Share on email

SHOPS & SERVICES

Jess Scott holds her new book, ‘Miss Penelope Thundertoes Changes Her Mind.’ The book is geared for children aged 3 to 8 -- but it’s also for anyone who has a love for pigs.
Member Exclusive

Wesleyan professor pens children’s book, ‘Miss Penelope Thundertoes Changes Her Mind”

BUCKHANNON – Jess Scott, a professor at West Virginia Wesleyan College, has penned a children’s book she hopes will keep kids oinking with fun – but really ‘Miss Penelope Thundertoes Changes Her Mind’ is for swine enthusiasts of all ages. […]

Help us reinvent local journalism and unlock unlimited access to every story, every day. Signing up is easy — just tap the button below!

BUHS Sports

Raising the Jolly Roger With… Evan Coffman

TENNERTON — In continuing to bring you the best sports coverage in Upshur County, the My Buckhannon sports department is pleased to bring you another edition of our weekly exclusive — Raising the Jolly Roger

WVWC Sports

Wesleyan announces 2022 baseball schedule

BUCKHANNON, W.Va.– West Virginia Wesleyan baseball and head coach Lee Bradley released their 2022 schedule this weekend. The ‘Cats are scheduled for 14 home contests at Hank Ellis Field during the 2022 campaign. The Bobcats kick their season off

WVWC Sports

Tolbert scores 19 but Lady ‘Cats fall to D&E, 67-57

ELKINS, W.Va. – The West Virginia Wesleyan (2-10, 1-9) women’s basketball team fell at Davis & Elkins (4-11, 1-9) on Saturday afternoon by a 67-57 score at the McDonnell Center in Elkins, W.Va.. WVWC LeadersCierra Tolbert netted 19

WVWC Sports

‘Cats fall by 11 on the road to Davis & Elkins

ELKINS, W.Va.– The West Virginia Wesleyan (2-16, 1-11) men’s basketball team fell to Davis & Elkins (6-9, 4-7) inside the McDonnell Center on Saturday. Braeden McGrew led the Bobcats with 17 points, but the Senators pulled away in

SHOPS & SERVICES

Cable Broadband

$17 million in broadband funding awarded

CHARLESTON, W.Va. – Gov. Jim Justice today announced the preliminary approval of over $17.4 million in Line Extension Advancement and Development (LEAD) program funds for

Thank you for reading this story. Our sponsors make My Buckhannon possible. Show 'em some love!