The Virginia Beach Development Authority has awarded two APZ-1 Economic Development Investment Program grants to Southampton Roads Construction Corp. (SRC) and Epic Manufacturing.
“Both companies are great examples of compatible businesses in the YesOceana footprint,” said Virginia Beach Economic Development Director Warren D. Harris. “These properties will be greatly enhanced, and we are pleased to retain two significant businesses in the city.”
SRC, a family-owned and Small, Women- and Minority-owned Business established in 1988, will relocate its current corporate headquarters from 1933 Virginia Beach Blvd. to 1888 Virginia Beach Blvd. in Virginia Beach.
The company’s primary focus is commercial paving, and expanded services include a full range of concrete work, site excavation and grading, utility repair and mitigation of drainage issues. SRC was selected through an RFP solicitation process to purchase and develop the city-owned property located at 1888 Virginia Beach Boulevard.
The site comprises 1.36 acres in the Hilltop Strategic Growth Area. The proposed development is 7,840 square feet and will consist of office, warehouse and bulk storage of construction equipment.
The Virginia Beach Development Authority has awarded an APZ-1 Economic Development Investment Program grant in the amount of $60,000 based on the company’s $1.243 million capital investment in real estate, business property and machinery and tools.
“This is a new location for the next generation,” said Laura Jones, president of SRC.
Founded in 2011, EPIC MFG provides high quality precision machining with design, welding and fabrication services for industrial, medical and defense customers in Hampton Roads and across the United States. The company manages all aspects of the machining and manufacturing process from concept design and prototyping to production using a variety of plastics and metals.
EPIC MFG will relocate from 2513 Performance Court to 2500 Squadron Court in Virginia Beach. It will occupy 3,600 square feet of an existing 14,850-square-foot building. The company purchased the assets of Stock Design and Machine in January 2018, and the expansion provides space to accommodate the recent growth.
“We decided to stay in Virginia Beach due to the low state and local tax rates, no tax on machinery and tools, the low cost of living and its business-friendly environment,” said
David Livingston, vice president admin/operations of EPIC MFG.
The Virginia Beach Development Authority has awarded an APZ-1 Economic Development Investment Program grant in the amount of $100,000 based on the company’s $2 million capital investment in real estate and machinery and tools.
The mission of the Virginia Beach Department of Economic Development is to attract and retain national and international businesses to stimulate capital investment and create jobs. The Department of Economic Development received re-accreditation through the International Economic Development Council in 2016 and is one of only 50 economic development organizations in the world to have this recognition. Virginia Beach was named America’s #1 best big city to live in by wallethub.com. For more information, visit www.yesvirginiabeach.com.