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, according to a news release from the city.
The new warehouse will have 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, according to the city.
“This expansion will allow us to expand our rental inventory, generate more revenue and create the need to hire more employees.” Joann Daugherty said. “The City of Virginia Beach offers the right kind of environment for businesses like ours to grow.”
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, development authority officials wrote in a news release.
“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.”