Affordable & Luxury Event Rentals To Build 15,200-SF Facility for Expansion

August 21, 2018

Affordable & Luxury Event Rentals has purchased a 2.13-acre site at 2617 Horse Pasture Road to build a new facility to meet the growing demands of their expansion needs.

The company, owned by Boots and Joann Daugherty, is the only event rental company in Virginia Beach. It provides tents, dance floors, tables, chairs, stages, draping, china, silverware and other event accessories throughout the Hampton Roads region.

The new warehouse will comprise 15,200 square feet with an ergonomic design that increases productivity and optimizes employee efficiency and safety. The new facility will increase the amount of space by 3,000 square feet above what they currently occupy. The expansion will allow the company to increase its workforce by adding nine new full-time jobs to its current workforce of 12 full-time employees.

Affordable & Luxury Event Rentals has been approved for a $50,000 Economic Development Investment Program grant through the Virginia Beach Development Authority. The grant award is based on the company's capital investment of $1.72 million in real estate, furniture, fixtures, equipment, machinery and tools.

"This is an excellent location and a compatible business for this area," said Virginia Beach Economic Development Director Warren D. Harris. "Affordable & Luxury Event Rentals is an established small business with an impressive 30-year history in Virginia Beach. Small business growth is a catalyst for our economy."

"This expansion will allow us to expand our rental inventory, generate more revenue and create the need to hire more employees." said Joann Daugherty, co-owner. "The City of Virginia Beach offers the right kind of environment for businesses like ours to grow."

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.

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