This company will occupy more than 200K square feet at 2600 International Parkway

VIRGINIA BEACH — SRP Companies, a leading supplier to more than 60,000 retailers nationwide headquartered in Castle Rock, Colorado, is moving its warehousing operations here.

The company received an Economic Development Investment Program grant of $75,000 from the Virginia Beach Development Authority “in recognition of its planned capital investment of $1.160 million over the next four years in the target industry sector of warehouse/distribution,” city officials said in a news release.

The company will occupy 218,680 square feet at 2600 International Parkway.

SRP Companies (and its parent company, Soloray), is consolidating and expanding its storage, warehousing and distribution services, currently located in Pennsylvania, Utah, California and Ohio.

“SRP Companies will nearly double its warehousing space, which speaks to its success and its expectations for the future Virginia Beach as a strategic location to support its operations,” said Economic Development Director Taylor Adams. “Bringing this company to Virginia Beach was the result of productive collaboration among our economic development partners, including the Virginia Economic Development Partnership, the Hampton Roads Economic Development Alliance and the Port of Virginia.”

City Council put the program in place 25 years ago to help qualifying companies with their growth needs. Economic Development Department staff work with potential award seekers to evaluate a business’ potential to qualify for an award and the VBDA administers the program. Awards are not guaranteed, officials said.

Criteria for awards is based on a number of factors, from the amount of capital investment and/or job creation over a 36-month period to whether the company will locate in the APZ-1 area or is among the city’s target industry sectors.

“We are very excited to be expanding our warehouse and distribution operations into Virginia Beach in 2020.  We are especially looking forward to being in such high-quality facilities so close to the Port of Virginia,” Darrin Eisle, the company’s CEO, said. “This enables us to improve the efficiency of our import activities and better serve our customers.  Virginia Beach provides an excellent work environment for our employees and operations.”

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John Mangalonzo (john@localvoicemedia.com) is the managing editor of Local Voice Media’s Virginia papers – WYDaily (Williamsburg), Southside Daily (Virginia Beach) and HNNDaily (Hampton-Newport News). Before coming to Local Voice, John was the senior content editor of The Bellingham Herald, a McClatchy newspaper in Washington state. Previously, he served as city editor/content strategist for USA Today Network newsrooms in St. George and Cedar City, Utah. John started his professional journalism career shortly after graduating from Lyceum of The Philippines University in 1990. As a rookie reporter for a national newspaper in Manila that year, John was assigned to cover four of the most dangerous cities in Metro Manila. Later that year, John was transferred to cover the Philippine National Police and Armed Forces of the Philippines. He spent the latter part of 1990 to early 1992 embedded with troopers in the southern Philippines as they fought with communist rebels and Muslim extremists. His U.S. journalism career includes reporting and editing stints for newspapers and other media outlets in New York City, California, Texas, Iowa, Utah, Colorado and Washington state.