The Virginia Beach Development Authority on Tuesday awarded Economic Development Investment Program grants to World Distribution Services and Point One USA, LLC.
World Distribution Services
Headquartered in Cleveland, Ohio, World Distribution Services (a division of The World Group) is the leading provider of creative, best-in-class logistics solutions. It specializes in international and domestic warehousing, distribution services and local and national transportation services, according to a news release from the development authority.
WDS maintains warehousing operations in 10 markets across the U.S. The company will expand from its current 180,000-square-foot location to 320,000 square feet in space at 1537 Air Rail Ave. It will invest a total of $6,225,000 in renovation costs, machinery and tools and furnishings, and create 35 new jobs, development authority said.
“This company will be nearly doubling its warehousing space, which speaks to its success and its expectations for the future,” said Taylor Adams, the city’s director of economic development.
The VBDA approved an EDIP grant of $35,000 based on this company’s new job creation, Taylor added.
Point One USA, LLC
Founded in Virginia Beach in 2013, Point One USA, LLC is a military and law enforcement training operation. The service-disabled veteran-owned small business thrived at its 11,800-square-foot corporate headquarters at 1505 Taylor Farm Road and later established a West Coast location in San Diego.
In 2016, the Virginia Beach Economic Development Authority approved an Economic Development Investment Program grant in the amount of $30,000 based on Point One USA, LLC’s capital investment of $1.05 million in real estate and business property and job creation, according to development authority.
The company satisfied the terms of that grant in 2017 by expanding in Virginia Beach with the purchase of a 1.104-acre site at 3121 Holland Road. The new 8,400-square-foot facility added six new jobs and retained the existing 22 full-time positions with average annual salaries exceeding $80,000.
The VBDA awarded a new EDIP grant of $45,000 based on additional capital investment of $1.5 million in real estate, business property and for job creation. The company seeks to relocate its headquarters from Taylor Farm Road to an 11,000-square-foot existing facility at Crusader Circle, according to the city.
The new property will be used for manufacturing, warehousing and packaging to support product sales of training aids/kits that are purchased and used to support personnel in Virginia, the U.S. and international partners.
Point One USA is also planning to add 15 new full-time jobs with an average salary of $65,000 in the next three years, economic development officials said.
For more information about the EDIP, click here.