Virginia Beach awards grants to two businesses
The Virginia Beach Development Authority has awarded Economic Development Investment Program (EDIP) grants to World Distribution Services and Point One USA LLC.
World Distribution received a grant of $35,000, while Point One’s grant totaled $45,000.
“Our mission is to help grow our local economy and investing in the potential of these small but mighty businesses is exactly what the grants program is designed to do,” Interim Economic Development Director Taylor Adams said in a statement.
Based in Cleveland, World Distribution provides logistics solutions. It specializes in international and domestic warehousing, distribution services, and local and national transportation services.
The company plans to expand from its current 180,000-square-foot location to 320,000 square feet of space at 1537 Air Rail Ave. It will invest a total of $6.23 million in renovation costs, furnishings, and machinery and tools. The project is expected to create 35 jobs.
Founded in Virginia Beach in 2013, Point One is a military and law-enforcement training operation. The company was awarded its grant for job creation and a capital investment of $1.5 million.
Point One plans to relocate its headquarters from Taylor Farm Road to an 11,000-square-foot facility at Crusader Circle. The new site will be used for manufacturing, warehousing and packaging.
Point One also plans to add 15 full-time jobs with an average salary of $65,000 in the next three years.