Growth Matters: Economic Development Celebrates Headquarters Opening and Welcomes International Businesses to the City

The Virginia Beach Department of Economic Development (VBED) is dedicated to creating a thriving economy by attracting new companies, supporting existing businesses and assisting entrepreneurs. Find out what projects VBED has been working on throughout March and April 2024: 

Project Announcements 

360IT Partners Celebrates New Headquarters Opening 

In April, 360IT Partners celebrated the opening of its new headquarters in Virginia Beach, after receiving an Economic Development Investment Program (EDIP) grant to support the new investment. The information technology company was established in the city in 1995 and has been continually recognized as a top place to work in Hampton Roads. 

EDIP is a locally funded discretionary incentive program available to assist qualifying companies with their growth needs in Virginia Beach. Projects are presented for incentive consideration at Virginia Beach Development Authority monthly meetings. Contact the applicable business development manager to discuss project eligibility and to receive guidance. 

Surus Marine and Cassiopeia Space Systems to Move Offices to International Incubator 

Surus Marine, a government contractor for ship repair and maintenance, and Cassiopeia Space Systems Inc., an equipment manufacturer for the satellite and space mission industry, will establish offices in the Virginia Beach International Incubator.  

The Virginia Beach International Incubator provides space for foreign companies to use to grow their sales volume before establishing their own office or manufacturing facility in the city. Companies that choose to use the space also have access to the resources offered at The HIVE, which includes on-site support provided by partner agencies. 

VBED on the Road 

Area Development Consultants Forum   

VBED and The Port of Virginia represented Hampton Roads at the Area Development Consultants Forum in Louisville, Kentucky. The gathering brought together top industry site selection executives and economic development professionals to exchange information on project opportunities that affect business expansion possibilities. 

VBED Attends Leading Offshore Wind Conference 

VBED attended at the Oceanic Network's International Partnering Forum (IPF), the largest offshore wind energy conference in the Americas, in New Orleans. VBED representatives met with industry colleagues, global leaders and offshore wind trailblazers. The conference concluded with Virginia Beach being announced as the location for IPF 2025, generating even more positive buzz for the city. 

HUNTER Hotel Investment Conference  

The VBED team attended the HUNTER Hotel Investment Conference in Atlanta. HUNTER is an annual event that brings together prominent leaders and investors in the hotel industry. The event provided valuable insights into key market trends affecting hotel development, which the team can use to attract and support future hospitality businesses in the city. 

Available Resources  

The department offers many resources to connect residents with the information they need to grow or expand their business. If you’re interested in receiving the Economic Developments bi-monthly email newsletter to stay up to date on the latest project announcements and available resources, email Paige Fox.