Three companies expanding in Virginia Beach
Three companies are ramping up operations in Virginia Beach, and two are moving to new locations.
The Virginia Beach Department of Economic Development reports that Back Bay Brewing Co., a city-based craft beer company, will open a facility at 1140 Loretta Lane. The company’s tasting room and small-batch facility at 614 Norfolk Ave. will continue operations.
The Loretta Lane property sits on 2.2 acres and will include a 9,106-square-foot production brewery facility. An additional 2,176 square feet will be occupied by Union Brick Construction Co., which is moving from Laskin Road in Virginia Beach.
The Virginia Beach Development Authority has awarded Back Bay an economic development grant of $80,000 based on the company’s capital investment of almost $2 million.
This month, Back Bay also will open Wolf Street Brewing Co. in Harrisonburg.
Meanwhile, Stock Design and Machine Inc. will expand its operation at 2500 Squadron Court because of two new contracts.
Stock Design is a computer-numerical control (CNC) machine shop. The company serves a range of industries and customers, including the aerospace, gas and oil industries, and the military.
The development authority awarded Stock Design a $20,000 grant based on the company’s capital investment of $995,000.
Trident Security and Holdings, which operates as 215 Gear, will relocate from Taylor Farm Road to a 7,000-square-foot facility on 2501 Encounter Court.
The company manufactures and distributes tactical nylon gear for the military.
It will purchase the facility with a capital investment of $725,727 that includes real estate, machinery and tools.
The development authority has awarded the company a $30,000 grant based on the company’s capital investment.
The businesses are or will be located in the city’s YesOceana corridor. The program was established in response to the Base Realignment and Closure (BRAC) Commission’s recommendation to close Naval Air Station Oceana in 2005.
The program moves nonconforming businesses out of Accident Potential Zone 1 and recruits businesses that meet zoning and conformity specifications into the area.