S&S Precision To Expand in Virginia Beach
May 19, 2015
S&S Precision will expand its manufacturing and distribution operation from 9,000 square feet to 14,850 square feet at 2504 Squadron Court in Virginia Beach. The company is a government contractor that specializes in product development and manufacturing of military, police and tactical equipment.The company established its Virginia Beach operations in 2007. The expansion of the manufacturing and distribution facility will be complete by June. The current location also provides the company with enough space to expand an additional 4,950 square feet. The company will also hire six new employees with average annual wages of $177,000 excluding benefits. “S&S Precision supplies vital equipment to our military and police,” said Warren D. Harris, director of Virginia Beach Economic Development. “Virginia Beach has been an ideal location for the company’s growth due to the large concentration of military and government contractors. This industry sector –manufacturing and distribution – aligns with our goals for the APZ-1 Yes Oceana business community. We look forward to their continued success in Virginia Beach.”The Virginia Beach Economic Development Authority approved an Economic Development Investment Program grant in the amount of $40,000 based on the company’s capital investment of $2.04 million and the location in the APZ-1 compatible zone. The capital investment includes real estate, business property, machinery and tools. 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.
