Growth Matters: Economic Development Fosters Business Expansions and Offers Resources for Small Businesses

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 August and September 2024: 

Project Announcements 

ZIM Integrated Shipping Services Opens New Headquarters 
Israeli international cargo shipping company ZIM Integrated Shipping Services opened its new 70,760-square-foot headquarters in Virginia Beach. ZIM's expansion, marked by significant capital investment and job creation, solidifies Hampton Roads as a leading maritime hub. 

Acoustical Sheetmetal Company Expands in Virginia Beach 
Acoustical Sheetmetal Company, manufacturer of sound-reducing and weather-protective enclosures for on-site power generation equipment and control centers, celebrated the completion of its Phase II expansion, adding 135,000 square feet to its campus footprint. Acoustical Sheetmetal has experienced significant success in Virginia Beach, exceeding their investment and hiring projections, and continues to grow. 

Born Primitive Receives Grant to Expand Headquarters 
Veteran-owned Born Primitive LLC, a leading provider of functional activewear, received a $420,000 grant from the Virginia Beach Development Authority under the Economic Development Investment Program (EDIP) to expand its headquarters and operations in Virginia Beach. The grant from EDIP will be used to construct a new 58,000-square-foot warehouse and office facility. 

EDIP is a discretionary incentive program with cash grants available to assist qualifying companies in growing their business. New or expanding businesses in the city may be eligible. Contact the applicable business development manager to discuss project eligibility and to receive guidance. 

Sirius Analysis Joins Virginia Beach International Incubator 
UK defense firm Sirius Analysis has joined the growing cluster of companies in the Virginia Beach International Incubator, complementing the city’s robust defense ecosystem. 

The International Incubator is a soft-landing office space designed for international companies planning expansion into the U.S. market. 

Maxbyte Technology Opens Industry 4.0 Centre of Excellence 
Maxbyte Technology, an Abu Dhabi-based technology firm, opened their Industry 4.0 Centre of Excellence at the Virginia Beach Workforce Training Center in the Advanced Technology Center at Tidewater Community College and in partnership with Virginia Beach Economic Development, the new center will support and accelerate smart manufacturing initiatives, technological evolution and global industrial empowerment. Industry 4.0 is at the forefront of the smart manufacturing field, delivering real-time decision-making, enhanced productivity, and the agility to revolutionize how companies manufacture, improve and distribute their products. 

STIHL Invests $60 Million in Battery-Powered Tool Manufacturing 
STIHL announced it will continue to invest and expand its production facility in Virginia Beach with a planned investment of $60 million to increase manufacturing of battery-owned outdoor tool equipment. 

Available Resources for Entrepreneurs and Business Owners 

The department offers many resources to connect residents with the information they need to grow or expand their business. One of those resources is The HIVE small business resource center, located in Town Center. The HIVE offers expert consulting, training programs, mentorship, networking opportunities and office space. Follow The HIVE on Facebook, Instagram and LinkedIn for tips and resources to help your business thrive! 

If you’re interested in receiving the Economic Development’s email newsletter to stay up to date on the latest project announcements and available resources, email Paige Fox.