Job Growth In Coal Counties VTS Targets Confirmed

MINING JOBS

Job Growth In Coal Counties: VTS Targets Confirmed

When it comes to the goals of its job creation and investment activities, the Virginia Coalfield Economic Development Authority is on the right track, according to a study it commissioned.

The Virginia Tech Center for Economic and Community Engagement report makes the suggestion that VCEDA keep concentrating on the advanced manufacturing, electronic information technology, energy-related businesses, and creative tourist industries.

THE EXECUTIVE DIRECTOR AND GENERAL COUNSEL OF VCEDA, JONATHAN BELCHER, REFERRED TO THE STUDY'S FINDINGS AS "REASSURING."

According to Belcher, the study cost around $25,000. According to him, a North Carolina consulting business conducted a similar study in 2014 with identical findings. Along with two other people, Scott Tate, associate director of the Virginia Tech Center for Economic and Community Engagement, worked on the study. According to him, it took place between February and August. According to him, the center has completed several studies for counties and regional economic development groups.

Results

region is outperforming national norms in important industry sectors. That was the case in advanced manufacturing, particularly in the production of machinery, fabricated metal goods, and electrical equipment, all of which had growth that was higher than the national average over the previous five years.

According to the research, there were 26 companies producing machinery in the VCEDA region in 2021, which was responsible for around 800 jobs.

This figure is "126% higher than the national employment average. According to the analysis, the VCEDA region saw a 23% gain in jobs in this industry from 2017 to 2021, compared to a 3% national decline and a 0% change in Virginia.

Three local businesses that produce machinery were named in the report: Tadano Mantis Corp. in Richlands, which produces telescoping boom crawler cranes; Komatsu, which has facilities in Abingdon, Duffield, and Norton and makes construction, mining, forestry, and industrial equipment; and Simmons Equipment Co. in Tazewell, which produces mining equipment.

CHALLENGES

Belcher claimed that the issue that most caught his attention was the region's lack of sufficient land supply and the scarcity of locations for particular types of enterprises.