Zero Point Inc. to build new corporate headquarters in Virginia Beach
- May 20, 2015
Zero Point Inc. will build a new 15,000-square-foot corporate headquarters in Virginia Beach.
The expansion on 1.8 acres at 2553 Horse Pasture Lane is expected to create 89 jobs over the next five years with average annual salaries of $66,040, excluding benefits.
The company, which provides products and training related to counter-terrorism, said in a statement that it had been working with the Virginia Beach Department of Economic Development to find a new location for its corporate headquarters since 2014.
Its current location at 1763 Princess Anne Road was established as the headquarters in 2006, but the company has grown and needs more space.
Although it did not release a figure, Zero Point said the investment in the new building and new equipment will involve a substantial capital investment. The company also has locations in Southern Pines, N.C., and Alton, N.H.
The Virginia Beach Economic Development Authority has approved an Economic Development Investment Program (EDIP) grant in the amount of $125,000 for Phase I based on the number of jobs created. Additionally, Zero Point has been approved for a Virginia Jobs Investment Program grant in the amount of $76,700. The Authority will review an additional EDIP grant in the amount of $100,000 for Phase II at a later date.
“We are excited about the opportunity to expand our operations in Virginia Beach,” Zero Point President and CEO Perry Sasnett said in a statement.
Phase I will consist of 44 new full-time jobs in the first three years, and Phase II will consist of 45 new full-time jobs between years four and five.