The Virginia Beach Development Authority has awarded $80,000 in grants to two expanding Virginia Beach businesses.
MATBOCK Origins, LLC, an advanced manufacturing company that specializes in law enforcement products, is doubling in size.
MATBOCK’s 4,000 square foot space on 1164 Millers Lane will soon grow to 10,000 square feet with the help of a $30,000 grant. The expansion is expected to create $655,000 of capital investment in the city and five new six-figure jobs, according to a press release from the City of Virginia Beach Communications Office.
Stock Design and Machine Inc. will use a $50,000 grant to expand its operations for the second time.
The company is a certified service-disabled, veteran-owned small business that serves a range of industries from its computer numerical control machine shop. Located at 2500 Squadron Court in units 106 and 10, the company will make a $970,000 capital investment to expand its 3,600 square foot facility to 7,200 square feet, according to the release.
