The Virginia Beach Department of Economic Development (VBED) continues to drive regional prosperity through targeted investments, business support programs, and international engagement. Throughout late 2025 and early 2026, the department has advanced multiple initiatives designed to strengthen the local economy, attract innovation, and expand global connections. n nA revived Façade Improvement Grant (FIG) program now offers small businesses, nonprofits, and organizations up to $10,000 in matching funds for exterior upgrades. To date, the Virginia Beach Development Authority (VBDA) has distributed $458,105 across 69 recipients since the program began. n nAdditionally, VBDA introduced the Atlantic Avenue Grant (AAG), providing eligible businesses along Atlantic Avenue (from 2nd to 40th streets) with up to $25,000 in matching support for storefront enhancements. This initiative aims to revitalize the corridor and improve the city’s appeal as a coastal destination. n nTST Roofing & Glazing received $508,000 through the Economic Development Investment Program (EDIP) to support capital investment. The company plans to construct a 20,000-square-foot warehouse and a 15,000-square-foot office facility. Currently employing 150 workers, TST expects to add 135 new positions, each with an average annual compensation of $88,222. n nRegulus Global officially opened its new headquarters at 2645 International Parkway, enhancing its capacity to deliver cybersecurity and defense manufacturing services to government and military clients worldwide. n nAnchor Innovation, a service-disabled veteran-owned enterprise, is investing $213,000 to expand operations in Virginia Beach. The project will generate 86 new jobs and bolster the region’s maritime and defense sectors. Support from the Virginia Economic Development Partnership (VEDP) and the Virginia Jobs Investment Program is helping the company scale its offerings to serve military, industrial, and recreational markets. n nBMK Ventures broke ground on a 40,000-square-foot facility at 1245 Perimeter Parkway, which will serve as its primary hub for assembly, warehousing, and distribution. The firm specializes in medical simulation systems, training solutions, and procurement for the U.S. military, federal agencies, emergency responders, and healthcare institutions. n nThe Virginia Beach International Incubator welcomed Optii Corporation, a Canadian startup from Ottawa pioneering photonic technologies resistant to electromagnetic interference for secure radio frequency communications. Optii was recently named a top five global finalist in the Satellite Communications Challenge at the 2025 Dubai Airshow. n nValkyrie Enterprises, a local defense technology contractor, achieved Cybersecurity Maturity Model Certification (CMMC) Level 2, positioning it among the first few hundred firms out of approximately 300,000 Defense Industrial Base (DIB) contractors to reach this standard. This milestone underscores growing readiness amid tightening federal cybersecurity requirements. n nVBED also participated in Smart City Expo World Congress 2025 in Barcelona, engaging with global urban innovators and exploring advancements in smart infrastructure. Additionally, the department joined VEDP on a trade mission across Japan, South Korea, and Taiwan to connect with potential investors. Building on prior collaboration with the Taiwan Eastbound Alliance-Landing America (TEALA), Virginia formalized an agreement to support soft-landing programs for Taiwanese firms entering the U.S. market. n nUpcoming opportunities include a free webinar on maximizing trade show impact, scheduled for January 28, and a trade mission to Sweden and the Baltics (Estonia, Latvia, Lithuania) from April 20–24, targeting sectors like defense, IT, and renewable energy. n nVBED is also soliciting proposals for a 27.2-acre city-owned site east of Oceana Boulevard, zoned for light industrial, manufacturing, warehousing, and related uses. Residential and food-service developments are excluded. n nThe EDIP remains open to qualifying businesses seeking financial assistance for expansion or relocation, with grants applicable to infrastructure improvements and other eligible project costs. Interested parties can explore available properties via VBED’s site selection portal. n
— News Original —nThe Virginia Beach Department of Economic Development (VBED) is dedicated to creating a thriving economy by attracting new companies, supporting existing businesses and assisting entrepreneurs. Find out what projects VBED has been working on throughout December 2025 and January 2026: n nBusiness & Community Updates n nFaçade Improvement Grant Program Returns n nSmall businesses, nonprofits, and organizations can receive up to $10,000 in matching funds to improve their facades and storefronts. Since the inception of the Façade Improvement Grant (FIG), the Virginia Beach Development Authority (VBDA) has awarded $458,105 in grants to 69 small businesses. Visit yesvirginiabeach.com/fig to learn more. n nVBDA Launches Atlantic Avenue Grant Program n nThe Atlantic Avenue Grant (AAG) is a new grant program being offered by VBDA. Businesses on Atlantic Avenue from 2nd to 40th streets can receive up to $25,000 in matching funds to enhance their facades. The AAG will have a lasting impact on local businesses, residents, and the future of our coastal destination city. Visit yesvirginiabeach.com/aag to learn more. n nTST Roofing and Glazing Receives EDIP Award n nVBDA awarded $508,000 under the Economic Development Investment Program (EDIP) to TST Roofing & Glazing for capital investment. With this award, TST has committed to constructing a 20,000-square-foot warehouse and 15,000-square-foot office space. The company currently employs 150 people and is expected to hire an additional 135 with an average annual salary of $88,222. n nRegulus Global Opens New Headquarters n nRegulus Global hosted the opening of its new headquarters at 2645 International Parkway. The company supports government and military clients locally and globally through cybersecurity and defense manufacturing services. n nAnchor Innovation Expands Operations in Virginia Beach n nAnchor Innovation, a service-disabled, veteran-owned small business, is investing $213,000 to expand its operations in Virginia Beach. The expansion will create 86 new jobs and strengthen the region’s maritime and defense economy. With support from the Virginia Economic Development Partnership (VEDP) and the Virginia Jobs Investment Program, Anchor is scaling its capabilities to serve military, industrial and recreational customers. n nBMK Ventures Celebrates Expansion with New Headquarters n nBMK Ventures Inc. broke ground at 1245 Perimeter Parkway to mark the start of its expansion. The company specializes in medical simulation systems, training solutions, and procurement services, providing mission-critical support to the U.S. military, federal agencies, first responders and medical institutions. The new 40,000-square-foot facility will function as BMK’s headquarters for assembly, warehousing and distribution. n nInternational Incubator Welcomes Optii Corporation n nVBDA welcomed Optii Corporation as the newest tenant of the Virginia Beach International Incubator. The Ottawa-based startup is redefining secure radio frequency communications through electromagnetic-immune photonic technologies and was recently recognized as a top five global finalist in the Satellite Communications Challenge at the 2025 Dubai Airshow. n nValkyrie Enterprises Achieves Major Cybersecurity Milestone n nValkyrie Enterprises, a Virginia Beach-based defense contractor and technology services company, has become one of the first Defense Industrial Base (DIB) firms to earn Cybersecurity Maturity Model Certification (CMMC) Level 2. This achievement comes as federal cybersecurity requirements continue to expand. Only a few hundred companies out of roughly 300,000 DIB contractors have reached this certification level, placing Valkyrie among the earliest leaders in cybersecurity readiness. n nVirginia Beach Participates in Smart City Expo World Congress n nVBED joined the USA Pavilion at Smart City Expo World Congress 2025 in Barcelona. The event brought together global city leaders, policymakers and industry experts to discuss the future of urban innovation. The event offered opportunities for new ideas, technology insights and international connections. n nExpanding Global Engagement in Asia n nVBED joined VEDP for a lead generation mission across key Asian markets — Japan, South Korea, and Taiwan — meeting with companies exploring investment opportunities in the U.S. Building on the successful visit from the Taiwan Eastbound Alliance-Landing America (TEALA) earlier this year, Virginia formalized an agreement with TEALA to target soft-landing programs in the Commonwealth for Taiwanese companies. n nAvailable Resources n nUpcoming Insights and Training Sessions n nWebinar: Maximizing Your Trade Show Experience | Jan. 28Whether you’re a first-time exhibitor or a seasoned participant, making the most of your trade show presence requires strategy, planning and smart follow-up. This webinar will equip you with practical tools and insights to maximize your impact, regardless of booth size or budget. The event is free and open to the public. Reserve your spot online. n nVEDP Connects Virginia Businesses with Key International Markets n nTrade Mission to Sweden & the Baltics | April 20-24 n nExplore two dynamic regions offering strong opportunities for Virginia exporters. Sweden, the largest Nordic economy, saw Virginia exports grow nearly 45% last year. The Baltics — Estonia, Latvia, and Lithuania — provide a strategic gateway to the EU market, with growing demand in defense, IT and renewable energy. This mission offers direct access to decision-makers and insights into markets eager for U.S. partnerships. Register by Feb. 20. n nSite Opportunity: Property East of Oceana Boulevard n nVBED is seeking proposals for a 27.2-acre City-owned site east of Oceana Boulevard, zoned I-1 and located in APZ-1. Residential, public-assembly, and food/beverage uses are not permitted. Compatible uses include light industrial, manufacturing, warehousing and related services. Learn more about the property. n nEconomic Development Investment Program (EDIP) Grants for Qualifying Businesses n nThe City’s Economic Development Investment Program is a discretionary incentive program with cash grants available to assist qualifying companies in growing their businesses. If you are a new or expanding business in the city, you may be eligible. n nThe EDIP was established to support projects that create new jobs and capital investment in Virginia Beach. EDIP monies may be used for allowable infrastructure improvements and certain other project purposes, which will help to reduce the costs of relocating and expanding in our community. n nResearch Available Sites and Properties n nFor a comprehensive look at available sites and properties in Virginia Beach, visit the VBED site selection page.