Regulus Global LLC Announces Major Expansion in Virginia Beach
July 21, 2015
25 new jobs to be created in 12 monthsRegulus Global LLC, an international provider of procurement and logistics support to global defense, security and intelligence customers, will expand its Virginia Beach headquarters currently located at 1528 Taylor Farms Road in the Taylor Farms Commerce Park.The company will purchase a three-acre site across the street from the current location with plans to build a 30,000-square-foot facility. The company is currently leasing 7,500 square feet of space. This expansion will allow the company to add 25 employees over the next 12 months. Jobs include business development, logistic specialists, sales and marketing, finance and distribution with average annual salaries of $50,000 per year.Regulus Global’s clients include a broad range of end users and distributors in more than 80 countries.They include prime and subcontracting activities for the U.S. Department of Defense, the foreign militaries/police either directly or with foreign contractors for countries including but not limited to Brazil, Saudi Arabia, Jordan, United Arab Emirates, the United Kingdom, Australia, Nigeria, India and many more. They have worked with more than 600 manufacturers in the U.S. and abroad.“This is a significant local company that is engaged in global trade,” said Warren D. Harris, director of Virginia Beach Economic Development. “The location in Virginia Beach has allowed them to make important Department of Defense contacts and has stimulated growth in diverse markets. We are extremely pleased they are making a commitment to remain in Virginia Beach.”Regulus Global CEO Will Somerindyke stated that “the willingness of the City of Virginia Beach to support our growth efforts through the EDIP was a factor in making our final decision to remain in Virginia Beach. We look forward to working with the City not only for this transaction but to also support our significant employee growth projections for the next 3-5 years.”The Virginia Beach Economic Development Authority has approved an Economic Development Investment Program grant in the amount of $75,000 based on the capital investment of $3.45 million and the number of jobs to be created with this expansion.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. Virginia Beach is the most populous city in Virginia with a population of 440,000, and it is the 37th largest in the United States. It is recognized as one of the Best Run Cities in America by 24/7 Wall St. The Department of Economic Development received re-accreditation through the International Economic Development Council in 2012 and is one of only 29 economic development organizations in the world to have this recognition. It is listed among the Top Five Overall Mid-sized American Cities of the Future, Top 10 for Economic Potential and Top Five for Infrastructure by fDi magazine. CNNMoney.com ranked Virginia Beach as the Easiest Place to Start a Business and the 2nd Most Business-Friendly City in the country. For more information, visit www.yesvirginiabeach.com.
