The City of Virginia Beach Development Authority (VBDA) is awarding $193,000 under the Economic Development Investment Program (EDIP) to GovSolutions for capital investment. Additionally, the City of Virginia Beach will sell approximately 4 acres of land at Corporate Landing Business Park for the construction of a warehouse and manufacturing facility.
GovSolutions is a turn-key office furniture & interior service provider and general contractor with experience providing interior business solutions for government, healthcare, hospitality, corporate, entertainment, and education industries. Founded over 20 years ago and service-disabled veteran-owned and woman-owned-led, they provide design-oriented, high-quality interior and furniture solutions for any public space.
"Thank you to the City of Virginia Beach and the Virginia Beach Development Authority for being steadfast partners in GovSolutions’ growth and success,” said GovSolutions President Donna Long. “We are proud to call Virginia Beach our headquarters and grateful for the city’s support as we expand into an exciting new venture—commercial furniture manufacturing in the United States.”
“We are invested in the success of GovSolutions and are committed to providing them with the resources they need for growth,” said Virginia Beach Deputy City Manager Amanda Jarratt. “Economic development draws on the power of community and entrepreneurial spirit; however, we can’t do the work alone, and we are proud to serve alongside GovSolutions and all Virginia Beach businesses.”
GovSolutions will purchase approximately 4 acres at $200,000 per acre from VBDA to construct a 30,000-square-foot warehouse and light industrial manufacturing facility with the capacity to expand up to 150,000 square feet as production grows. The facility will serve as the manufacturing location for the company’s brand of dormitory and residence hall furniture, a product line currently produced in Medellin, Colombia. The company prioritizes hires who are veterans and residents from HUBZone areas and currently employs 26 people. Because of the investment and expansion, the number of full-time employees is expected to grow to 81 with an average annual salary of $49,772.
The City's EDIP is a locally funded discretionary incentive program available to assist qualifying companies with their growth needs in Virginia Beach. VBDA has been administering this program on behalf of the City Council since 1994. The program may provide cash grants to eligible companies based on the average annual salary and number of new jobs created and/or new capital investment made over a 36-month period or 48 months.
Virginia Beach, one of Virginia’s most populous cities, resides where the Chesapeake Bay meets the Atlantic Ocean. The mission of the Virginia Beach Department of Economic Development is to drive economic vitality and inclusive prosperity in the city by fostering the attraction and creation of new investment, innovation, and jobs.