In the News
SJS Executives will create 49 jobs, purchase additional office, industrial space
SOURCE: Virginia Business Publication
PUBLISHED MAY 19, 2020
Virginia Beach-based military-industrial contractor SJS Executives LLC announced Tuesday it has received a $125,000 grant from the Virginia Beach Development Authority that will be used toward workspace and workforce expansion, as part of its Economic Development Investment Program (EDIP). As part of its expansion, the company plans to make a total of $4 million in capital investments and add 49 jobs.
The service-disabled veteran-owned company currently has three locations in Virginia Beach. The company plans to purchase a five-acre, 42,000-square-foot site at 2653 Excalibur Court (less than two miles from its headquarters office at 440 Viking Drive) which it will renovate and use for additional office and industrial space. The jobs created will have average salaries of $59,000.
The company received an Economic Development Investment Program (EDIP) Part A grant of $125,000 from the Virginia Beach Development Authority (VBDA) based on new job creation and target industry sectors. SJS is purchasing a five-acre site located at 2652 Excalibur Court. The company will renovate the nearly 42,000 SF building to accommodate the office and industrial uses and plans to more than double its workforce over the next three years. Altogether, the company plans to make capital investments totaling more than $4 million and add 49 jobs with average salaries of $59,000, exclusive of benefits.
"Being able to retain SJS and assist in its expansion is what the EDIP is designed to do," said Economic Development Director Taylor Adams. "The City Council put the program in place 25 years ago to help qualifying companies with their growth needs and SJS is a great success story."