Page 5 - People Incorporated Annual Report
P. 5

“NorrisBuilt Fabrication’s decision to expand its operation in Wise County
is great news for Southwest Virginia and the Commonwealth. Growing the advanced manufacturing industry in Virginia, and particularly in rural parts of the state, is a key part of our effort to build a new Virginia economy.”
—Virginia Governor Terry McAuliffe
Creating Sustainable Jobs
PEOPLE: Small business owners Christian and Rachel Failmezger
PROJECT: Pave Mint Taphouse and Grill Pave Mint Food Truck
PROFILE: 25 full time employees Locally-sourced foods
Microbrews on tap
During 2015–2016, People Incorporated facilitated small business growth by delivering 439 hours of business and financial instruction and financing 11 startups and 13 expansions — collectively maintaining more than 105 jobs. Two of these businesses are profiled here.
NorrisBuilt: Hard Work Brings Fast Growth
“If you dream it we can build it!” is the tag line for NorrisBuilt Fabrication, a welding and fabrication business launched by Ron and Tiffany Norris in Norton, Virginia, in 2014. Now pulling in $1.2 million in sales annually, it’s hard to believe the company began with just a business plan and a single micro-loan from People Incorporated. In the first nine months of operation, six more rounds of new capital investment were acquired and 12 more employees hired—all due to additional funding support, including two more loans from People Incorporated. In 2015, NorrisBuilt relocated to
a 33,000-square-foot building and secured a Virginia Department
of Transportation contract to perform repairs and maintenance on equipment throughout Southwest Virginia. The start-up business that began with just two employees in 2014 now boasts 29. “People Incorporated got us started,” Ron claims. “Without that first loan, we wouldn’t be here.”
“Farm to street” food and microbrew: Pave Mint Taphouse and Grill
Two years ago, Rachel and Christian Failmezger approached People Incorporated seeking financial help for opening a bar and grill in an old 1960s gas station located in Front Royal, Virginia. The family business has evolved into a popular “farm to street” restaurant that sources as much of its menu food as possible from local farmers living in the northern Shenandoah Valley, and offers 35 rotating beer taps from breweries across the country. During 2016, People Incorporated again offered support by providing a $70,000 loan for purchase of
a food truck, which allows the couple to serve at local festivals and wineries. Today, Pave Mint has 25 full-time employees.
Building Futures, Realizing Dreams
5
PHOTOS: MEGAN POLLARD
















































































   3   4   5   6   7