Economic development grants boost local businesses, jobs

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(Courtesy of yvbc.com)

(Courtesy of yvbc.com)

The Virginia Beach Development Authority awarded $165,000 in grants to five businesses Tuesday, which are slated to bring more than 100 new jobs to the city.

One of the beneficiaries was Sunrise Global Marketing LLC, the marketing group for outdoor and garden-tool company Globe Tools. Sunrise Global, which is relocating its distribution headquarters from North Carolina to Virginia Beach, received a $20,000 grant and will bring 25 new jobs to the area, according to a release.

The marketing firm will occupy a 218,000-square-foot space at 2600 International Parkway in Oceana West Corporate Park. Sunrise Global currently has 70 employees in the U.S. and more than 4,000 in Europe, Russia and China. This year, STIHL Inc., a German power tool manufacturer whose American headquarters is located in Virginia Beach, purchased a share of  Globe Tools and provided warehouse space to the company on International Parkway.

Globe Tools’ customers include Lowe’s, Amazon, Walmart, Target, Menards and Northern Tool.

Another beneficiary was Young Veterans Brewing Co., which received a $20,000 grant to expand its operations, 2505 Horse Pasture Rd. The enlargement will bring five new jobs to the city, the release said.

Young Veterans will increase its space from 2,000 square feet to 8,000 square feet; a tasting room will be added as well as office and manufacturing space. In addition, Young Vets will make a $669,000 investment in the expansion, according to a release. It will allow the brewery to offer its beers, such as Pineapple Grenade, G.I. Pilsner, and Jet Noise, in canned six-packs to distribute regionally.

Thomas Wilder and Neil McCanon, U.S. Army veterans, began operations of Young Veterans in 2013.

Other grant awardees announced Tuesday include Architectural Graphics Inc., 2655 International Parkway, which received a $50,000 grant to expand into 50,000 square feet of space at 2600 International Parkway. The move will add 45 new jobs, according to the release.

Anchor Innovation Inc., a small business owned by service-disabled veterans, received a $55,000 grant. It will use the funds to enlarge small-craft maintenance and operations at 532 Central Dr., bringing 15 new jobs to the city, according to the release.

And Chantel Ray, a woman-owned residential real estate company, received a $20,000 grant from the development authority, the release said. Chantel Ray plans to relocate its corporate headquarters to a second Virginia Beach office at 5308 Indian River Rd.

 

 

 

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Economic development grants boost local businesses, jobs