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The Virginia Beach Development Authority today approved a $30,000 grant for Point One USA LLC, a military and law- enforcement training business, for a 1-acre expansion that will add six new jobs to the City.
Point One is currently located at 1505 Taylor Farm Rd. in Virginia Beach. The company’s capital investment of $1.05 million in real estate, business property and job creation includes the purchase of a 1.1 acre site at 3121 Holland Rd., with an 8,400 square-foot facility. The business will retain its current 22 employees, and hopes to open the site on Holland Road in September, according to a release.
“We are pleased to keep this dynamic company in the city and feel that the strong business climate here has helped propel its growth,” Virginia Beach Economic Development Director Warren D. Harris said in the release. “Additionally, Point One has been successful in finding highly skilled and qualified employees in this market with our large number of retired military and trained workforce.”
The six planned additional jobs will pay average annual salaries of more than $80,000, according to the release.
The company, which opened in 2013, provides training for military and law enforcement professionals to counter terrorism. Its largest client base is members of the U.S. Navy in Hampton Roads, according to Michelle Glasscock, a partner in Point One.
Point One is a member of the Small Business Administration’s (SBA) Service-Disabled Veteran-Owned Small Business Concern Program, Glasscock said. The program’s purpose is to allow procuring agencies to set aside acquisitions specifically for competition among these types of business and to allow the agencies to make awards to these businesses if certain conditions are met, according to the SBA’s website. Among the conditions are that a veteran with a service-connected disability must own 51 percent of the business and have its highest officer position, the SBA’s website says.