Industries Economic Development

Virginia Beach attracts 2,200 new jobs in 2012-13 fiscal year

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Business expansion and relocation announced in Virginia Beach during the past fiscal year are expected to create 2,200 jobs, double the number from the previous fiscal year.

In its 2012-13 report to the City Council, the Virginia Beach Development Authority said 54 project announcements during the year also produced $260 million in new capital investment by. Of those, 25 were new locations and 29 were expansions. 

The total investment represents 1.3 million square feet of commercial space. Thirteen percent of the projects announced capital investments of at least $10 million, with the largest being the $105 million expansion of the Town Center of Virginia Beach.

The department had four international business announcements. Koster American announced a $4.6 million, 44,000-square-foot expansion of its U.S. headquarters and manufacturing facility, and Prufrex USA Inc. announced plans to locate its U.S. headquarters and manufacturing facility to the beach, a $7.33 million investment that will create 60 new jobs.

DaiEi Papers relocated its U.S. headquarters to Virginia Beach, leasing 5,100 square feet of office space and creating 10 jobs. Hi-Logic opened its U.S. headquarters office, leasing 1,000 square feet in Town Center


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