German company investing more than $1 million to upgrade equipment in Virginia Beach
IMS Gear, a German-based manufacturer of automotive equipment, announced Thursday plans to invest $1.05 million to upgrade its equipment in Virginia Beach.
The company’s 115 employees will be retrained to operate the new CNC cutting machinery with support from the Virginia Jobs Investment Program, which provides funding and consulting for employee training. IMS is eligible to receive $500 for training per job, or up to $57,500.
“IMS chose to stay and expand in Virginia Beach due to our location close to shipping routes, quality of life, and our established, solid workforce here,” Guenter Weissenseel, president of IMS Gear Virginia, said in a statement.