Small Businesses Receive Grants from Virginia Beach Development Authority
The Virginia Beach Development Authority (VBDA) recently awarded Economic Development Investment Program (EDIP) grants to World Distribution Services, Point One USA, LLC. and BN Media Associates, LLC.
World Distribution Services, headquartered in Cleveland, Ohio and a division of The World Group, is the leading provider of creative, best-in-class logistic solutions. They specialize in international and domestic warehousing, distribution services and local and national transportation services. The company will expand from its current 180,000-square-foot location to 320,000-square-feet of space at 1537 Air Rail Ave. in Virginia Beach. They will invest a total of $6,225,000 in renovation costs, machinery and tools and furnishings, and create 35 new jobs. The VBDA approved an EDIP grant of $35,000 based on the company’s new job creation.
Point One USA, LLC was founded in Virginia Beach in 2013 and is a military and law enforcement training operation. The VBDA awarded a new EDIP grant of $45,000 to the company based on additional capital investment of $1.5 million in real estate, business property and for job creation. The company seeks to relocate its headquarters from Taylor Farm Road to an 11,000-square-foot existing facility at Crusader Circle. The new property will be used for manufacturing, warehousing and packaging to support product sales of training aids/kits that are purchased and used to support personnel. Point One USA, LLC is also planning to add 15 new full-time jobs with an average salary of $65,000 in the next three years.
BN Media Associates, LLC, an online media company, was founded in 2010 and moved its corporate headquarters to Virginia Beach in 2016. The company was awarded a $40,000 grant for 28 retained jobs and five new jobs with average salaries of $85,000, excluding benefits. In 2018, a Utah-based media company bought several divisions of BN Media Associates, LLC and sought to move the company to Utah. Economic Development staff worked with the company and the result was retaining the business in Virginia Beach along with commitment to grow by adding another five new full-time employees.