VIRGINIA BEACH — The Virginia Beach Development Authority has awarded two Economic Development Investment Program grants to Southampton Roads Construction Corp. and Epic Manufacturing.
“Both companies are great examples of compatible businesses in the YesOceana footprint,” said Virginia Beach Economic Development Director Warren D. Harris. “These properties will be greatly enhanced, and we are pleased to retain two significant businesses in the city.”
SRC, a family-owned business established in 1988, will relocate its current corporate headquarters from 1933 Virginia Beach Blvd. to 1888 Virginia Beach Blvd., according to a news release from the city.
The company’s primary focus is commercial paving, and expanded services include a full range of concrete work, site excavation and grading, utility repair and mitigation of drainage issues.
Officials said SRC was selected through an RFP solicitation process to buy and develop the city-owned property at 1888 Virginia Beach Blvd.
The site has 1.36 acres. The proposed development is 7,840 square feet and will consist of office, warehouse and bulk storage of construction equipment.
The grant is worth $60,000 based on SRC’s $1.2 million capital investment in real estate, business property and machinery and tools.
Founded in 2011, EPIC provides precision machining with design, welding and fabrication services for industrial, medical and defense customers in Hampton Roads and across the United States, according to the news release.
The company manages all aspects of the machining and manufacturing process from concept design and prototyping to production using a variety of plastics and metals.
EPIC MFG will relocate from 2513 Performance Court to 2500 Squadron Court. It will occupy 3,600 square feet of an existing 14,850-square-foot building. The company purchased the assets of Stock Design and Machine in January 2018, and the expansion provides space to accommodate the recent growth, the news release indicated.
The company received a $100,000 grant based on the company’s $2 million capital investment in real estate and machinery and tools.