April 27, 2026

Growth Matters: Recognizing Local Businesses and Community Growth During Economic Development Week

Discover the creators and businesses powering the City’s growth during a day-long celebration of innovation and connection. 

Aerial view of Virginia Beach Town Center

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.

Community Events

Celebrate Economic Development Week During Taste of the Vibe 2026 
Economic Development Week, May 4-8, highlights the impact of economic development organizations, local businesses and individuals building vibrant communities, creating jobs and improving quality of life.   

In Virginia Beach, the week culminates with Taste of the ViBe 2026 on Friday, May 8, an appreciation event celebrating the Virginia Beach business community. 

  • Sip & Savor, noon-4:30 p.m., ViBe Creative District: The day kicks off with an intimate tour of eight local businesses featuring curated bites, brews and founder stories.  
  • Economic Development Block Party, 4-6:30 p.m., ViBe Park: Spend the evening enjoying live music, gourmet food trucks and community art. 

Proceeds from both events support the Virginia Beach Community Development Corporation and the Creative Well Arts Foundation. Register today to get involved through sponsorship opportunities. Individual tickets may be purchased for the block party. 

Virginia Beach Career & Opportunity Fair 
Virginia Beach is bringing employers and job seekers together at the Virginia Beach Career & Opportunity Fair, noon-3 p.m., on Tuesday, May 5, at the Virginia Beach Community Development Corporation, 2400 Potters Road, Suite A. 

The free, community-focused event aims to create connections and strengthen the local workforce.  

Hosted by the Virginia Beach Community Development Corporation (VBCDC) with support from Virginia Beach Economic Development and the Hampton Roads Workforce Council, the event is open to all Virginia Beach residents — whether you're actively hiring or ready to find your next opportunity. Don't miss this chance to tap into the region's growing network of talent and possibility. 

Business Updates

Virginia Beach Growth Gains National Spotlight in Forbes  
Virginia Beach is gaining national attention as its growth story continues to evolve. In a recent Forbes feature, “Residential Catching Up with Virginia Beach Growth,” the city is highlighted as a market where residential development is accelerating to keep pace with a rapidly diversifying economy and an influx of new residents. 

The article underscores a key shift: Virginia Beach is no longer defined solely by tourism, but by a broader economic base that is driving demand for housing, mixed-use projects and new investment. As more people move to the region, developers are responding with new residential communities designed to support long-term growth and workforce needs. 

EDIP Grants Awarded to Two Virginia Beach Businesses 
Two local businesses received Economic Development Investment Program (EDIP) grants in support of their continued growth and expansion in the city. 

OneSpace Architects, a SWaM-certified architectural and space planning firm founded in Virginia Beach in 2018, has been awarded $12,240 in EDIP funding — $9,240 for capital investment and $3,000 for the creation of three new jobs. The company is known for its work on commercial projects including office, retail and hospitality spaces. Its expansion includes the purchase of a 1.9-acre property, where it will occupy 1,834 square feet.  

PT2GO, a locally owned physical therapy and wellness clinic established in Virginia Beach in 2018, has been awarded $36,000 — $32,000 for capital investment and $4,000 for the creation of four new jobs. PT2GO purchased a 10,000-square-foot building and will occupy 5,800 square feet, creating a centralized clinic to complement its in-home services. The new space will allow the company to expand its pediatric PT specialty, better serve active duty and retired military members and their families, support total joint replacement patients, and offer a dedicated performance section for golfers and athletes. 

These investments highlight what EDIP is designed to do: Help homegrown businesses put down deeper roots, create quality jobs, and make Virginia Beach an even stronger place to live, work and do business. 

Virginia Beach International Incubator Welcomes Two New Global Companies 
The Virginia Beach International Incubator recently welcomed Mehrer Compression, a Germany-based manufacturer of oil-free, high-pressure gas compression systems serving industries from energy and renewables to food and beverage. Recruited through a long-standing partnership with the Hampton Roads Alliance, Mehrer formalized its U.S. presence this year by registering a Virginia subsidiary — representing approximately $25 million in projects — with plans to establish assembly, packaging and warehousing operations in Virginia Beach within three years. 

Also joining the incubator is Lunas Light International Sourcing Corporation, a Taiwan-based distributor of CNC (computer numerical control) machining parts and precision components serving the automotive, semiconductor and industrial sectors. Recruited in collaboration with the Virginia Economic Development Partnership, Lunas Light is establishing its initial U.S. sales office at the incubator — with plans to expand into a full distribution center.  

Virginia Beach Among Top Cities for Living, Working and Thriving 
Virginia Beach continues to gain national recognition as a place where people can truly live, work and thrive. In its 2026 rankings, Livability.com named Virginia Beach one of the Top 100 Best Places to Live, highlighting the city’s strong performance across key factors such as affordability, quality of life and economic opportunity. 

The annual list evaluates nearly 100 data points across categories including housing, safety, education, environment and amenities, with a particular emphasis this year on affordability amid rising costs nationwide. Virginia Beach stood out for its exceptional livability, ranking especially high in environment, safety and education — while also earning the highest overall LivScore of any Virginia city on the list. 

This honor reinforces what locals already know: Virginia Beach is a place where opportunity meets quality of life. 

VBDA Awards 14 Facade Improvement Grants in 2026 Cycle 
The City of Virginia Beach Development Authority (VBDA) has awarded 14 Façade Improvement Grants (FIGs) to local businesses, continuing a six-year program that enhances the appearance and vitality of commercial properties across the city. Administered by the Department of Economic Development, the program provides matching grants of up to $10,000 for exterior upgrades such as signage, lighting, paint and parking improvements. 

Since its inception, VBDA has awarded nearly $700,000 to 94 small businesses, sparking approximately $2.5 million in private investment. This year’s recipients, spanning seven city districts, reflect the continued demand and impact of the program. 

A New Look for Atlantic Avenue: Strategic Investments Take Shape 
Virginia Beach’s iconic oceanfront is getting a fresh wave of investment, and local businesses still have a chance to participate.  

The Atlantic Avenue Grant Program (AAG), a one-time opportunity from Virginia Beach Economic Development, is helping property owners reimagine their storefronts with a 50% funding match on exterior upgrades, site enhancements and outdoor dining improvements (up to $25,000 per business).  

With $77,833 already awarded and $157,166 in total capital improvements planned, the program is actively transforming the Atlantic Avenue corridor from 2nd to 40th streets into a more vibrant and welcoming destination for residents and visitors.  

Four standout businesses have used the program to elevate their presence: The Cutty Sark, The Oceanfront Inn, Hilton Virginia Beach Oceanfront, and The Shack on 8th.

With funding still available, and the program ending after this year, eligible businesses along Atlantic Avenue are encouraged to act quickly and take advantage of this rare opportunity to invest in their space and help shape the future of the corridor. Apply for a grant. 

Insights and Training Sessions

  • Business Finance Basics at The HIVE | May 5 
    This interactive financial workshop, led by Mara Bostelman of Truist Bank, will help business owners build, manage and protect their businesses through key growth strategies and insurance essentials — along with practical resources for long-term success. Reserve your spot. 
  • Becoming a LinkedIn AI Maverick at The HIVE | May 8 
    This hands-on workshop teaches business owners and professionals how to leverage LinkedIn more effectively — from optimizing profiles and targeting the right audience, to using built-in tools, artificial intelligence (AI) and analytics to grow business relationships. Reserve a spot. 

Available Resources

International Incubator Office Space  
The International Incubator is a soft-landing office space designed for international companies planning expansion into the U.S. market. Strategically located in Town Center and adjacent to the Economic Development office, the Incubator provides an ideal environment for growing businesses. Contact the Economic Development team to learn more.   

The HIVE 
VBED offers many resources to connect residents with the information they need to grow or expand their businesses, including 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!    

  • Become a HIVE Partner: VBED is always looking to partner with individuals and organizations who are passionate about supporting the local business community through training, mentorship and shared expertise. Learn more at The HIVE Pathways. 

Research Available Sites and Properties  
For a comprehensive look at available sites and properties in Virginia Beach, visit the VBED site selection page.

To stay up to date on VBED’s latest project announcements and available resources, subscribe to Economic Development’s email newsletter. 

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