Four projects announced in Virginia Beach
Four economic development projects totaling more than $9.4 million in capital investment were announced Tuesday in Virginia Beach.
The projects include:
• An expansion by Expert Global Solutions Inc. expected to create 175 new jobs
• The consolidation of several VT Milcom Inc. locations in Hampton Roads at a site on International Parkway.
• Tidewater Valve and Fitting’s plans to buy a 2.94-acre site on Crusader Circle.
• Chesapeake Bay Distillery’s plans to expand its small-craft distillery and relocate to the resort district.
EGS, based in Plano, Texas, is expanding to support increased national customer and technical services in the pharmaceutical sector. The company provides business process outsourcing through its two subsidiaries – APAC Customer Services Inc. and NCO Financial Systems Inc. APAC offers customer-care services, and NCO offers financial-care services.
As part of its expansion, EGS will co-locate a new APAC division in Virginia Beach with its existing NCO operations at Baxter Road. The 30,000-square-foot office currently has 245 employees and will add 175 more during the next year.
The expansion will result in $600,000 of new capital investment. The Virginia Beach Development Authority has awarded an Economic Development Investment Program grant of $50,000 based on the number of jobs created. The grant will be used to support workforce development services. The company is also eligible for the Virginia Major Business Facility Job Tax Credit Program for job creation.
Meanwhile, VT Milcom, a subsidiary of VT Group, will maintain its regional headquarters on Viking Drive in Virginia Beach while consolidating several other locations at 2505 International Parkway.
The new site will merge two locations in Chesapeake and one on Avenger Drive in Virginia Beach. The International Parkway facility was purchased by 2505 International LLC as an investment, and VT Milcom will be the exclusive tenant.
A 89,445-square-foot industrial building sits on a 14-acre site, which can accommodate an additional 180,000-square-foot expansion. VT Milcom expects to complete the consolidation in February.
VT Milcom is a technology integrator, specializing in turnkey engineering design and technical services for advanced electronics and communications systems.
John M. Lee of John Lee and Associates, represented the buyer, and Lang Williams of CBRE | Hampton Roads, represented the tenant. The seller was represented by Tony Weiss, Patrick L. Mumey and Geoff Poston of Cushman & Wakefield-Thalhimer.
The Virginia Beach Development Authority has awarded an APZ-1 Economic Development Investment Program grant in the amount of $110,000 based on the capital investment of $6.5 million in property, improvements and machinery and tools.
The third company, Tidewater Valve and Fitting, is a wholesale plumbing supplier primarily serving industrial, government and commercial business segments, It will relocate operations to its new facility next year.
The company, a certified small, woman-owned business, has been leasing property on London Bridge Road in Virginia Beach since 2011.
The facility on Crusader Circle will be 9,797 square feet when complete. The Virginia Beach Development Authority has awarded an APZ-1 EDIP grant in the amount of $40,000 based on the company’s capital investment of $1.1 million.
Gresh Wall of CB Richard Ellis is representing the company.
Finally, Virginia Beach-based Chesapeake Bay Distillery, established in 2005 by Chris Richeson, makes Blue Ridge Vodka, Beach Vodka and Chicks Beach Rum.
Chesapeake Bay will open a 5,180-square-foot manufacturing facility and tasting room on Virginia Beach Boulevard near Baltic Avenue,
The company, founded in 2005 by Chris Richeson, started making Blue Ridge Vodka at a 1,450-square-foot facility in the city’s Lynnhaven corridor.
The new location is expected to allow the distillery to greatly expand its operations. Chesapeake Bay will be one of the first businesses in the city's new creative district in the resort area. This move is expected to help attract other businesses.
The Virginia Beach Development Authority has awarded an Economic Development Investment Program grant in the amount of $15,000 based on the capital investment of $1.2 million in the property and improvements.