Two companies to expand in Virginia Beach
Regulus Global LLC, an international provider of procurement and logistics support to global defense, security and intelligence customers, will expand its Virginia Beach headquarters.
The company said Tuesday that it plans to purchase a three-acre site across the street from its current location at 1528 Taylor Farms Road in the Taylor Farms Commerce Park. It will
build a 30,000-square-foot facility, boosting its current footprint of 7,500 square feet of leased space.
This expansion will allow the company to add 25 employees over the next 12 months. Jobs include business development, logistic specialists, sales and marketing, finance and distribution with average annual salaries of $50,000 per year.
Regulus Global’s clients include a broad list of end users and distributors in more than 80 countries. On the list are prime and subcontracting activities for the U.S. Department of Defense, the foreign militaries/police — either directly or with foreign contractors — for countries including but not limited to Brazil, Saudi Arabia, Jordan, United Arab Emirates, the United Kingdom, Australia, Nigeria, India and many more. The company also has worked with more than 600 manufacturers in the U.S. and abroad.
“This is a significant local company that is engaged in global trade,” Warren D. Harris, director of Virginia Beach Economic Development, said a statement. “The location in Virginia Beach has allowed them to make important Department of Defense contacts and has stimulated growth in diverse markets. We are extremely pleased they are making a commitment to remain in Virginia Beach.”
Regulus Global CEO Will Somerindyke said the city’s support for the company’s growth was a factor in its decision to remain in Virginia Beach. “We look forward to working with the city not only for this transaction but to also support our significant employee growth projections for the next 3-5 years,” he said.
The Virginia Beach Economic Development Authority has approved an Economic Development Investment Program grant in the amount of $75,000 based on the capital investment of $3.45 million and the number of jobs to be created with the expansion.
In another expansion of an existing company, Marathon Consulting LLC, a Hampton Roads-based provider of information technology and digital marketing solutions, will nearly double in size. The company, founded in 2006, is currently located at 505 S. Independence Blvd. and will move to the Virginia Beach Town Center.
Marathon has entered into a lease for 9,000 square feet of office space in 5 Columbus Center at the center.
The company plans to add 34 full-time employees to the existing 59 in the areas of web and application developers, business analysts and project managers. Marathon also will invest more than $200,000 in business property with this expansion.
“They had an opportunity to look at expansion options outside Virginia Beach, and we are so proud of the decision to keep the corporate headquarters here and to join us in Town Center. They bring a tremendous wealth of technology talent to Virginia Beach, and these new jobs will attract even more. Our department has worked hard to bring more than 600 new high-tech jobs to Virginia Beach over the past year,” Harris said in a statement.
The Virginia Beach Economic Development Authority has approved an Economic Development Investment Program grant in the amount of $85,000 based on the number of jobs to be created with this expansion.