The Virginia Beach Development Authority (VBDA) has announced a significant Economic Development Investment Program (EDIP) grant of $192,600 to Power Train Industries, Inc. as part of its Power Train expansion grant Virginia Beach initiative. This grant supports Power Train’s operational expansion plans, which includes increasing its current 22,000-square-foot facility to a 100,000-square-foot manufacturing site. The move, designed to accommodate the company’s business growth, is also expected to capitalize on the city’s workforce development programs to attract and retain local talent. The grant and the subsequent investment in Power Train are seen as a reinforcement of the local manufacturing sector and a testament to the community’s commitment to the Advanced Manufacturing sector.
Virginia Beach Development Authority Grant
Virginia Beach Development Authority (VBDA) announced a major boost for Power Train Industries, Inc. with an Economic Development Investment Program (EDIP) grant worth $192,600, endorsing the company’s operational expansion.
Power Train Industries Expansion
Power Train, a renowned driveshaft manufacturer for diverse vehicles, has been a staple in Virginia Beach’s industrial landscape since 2012, operating from 2503 Squadron Court. The firm has now set plans to expand its 22,000-square-foot facility to a robust 100,000-square-foot manufacturing site at 464 Progress Lane to accommodate its growing business.
Project Manager’s Perspective
Project Manager Mia Ciasulli applauded the Virginia Beach Department of Economic Development’s assistance. “We take pride in our partnership with the city, looking forward to fostering our manufacturing presence here,” she said.
Future Plans and Workforce Development
The EDIP grant, a significant financial catalyst, will support Power Train’s relocation and expansion endeavors at the new site. Chris Montero, Operations Manager, expressed enthusiasm for the future, highlighting plans to capitalize on the city’s workforce development programs to draw and sustain leading local talent.
Virginia Beach Department of Economic Development
Chuck Rigney, Interim Director of the Virginia Beach Department of Economic Development, commended Power Train’s consistent growth. “This grant and subsequent investment will undeniably reinforce our local manufacturing sector by maintaining a prominent facility in our city,” he noted. This collaboration underpins the community’s commitment to bolstering the Advanced Manufacturing sector while keeping a focus on nurturing homegrown talent.
Question & Answer
What is the significance of the Economic Development Investment Program (EDIP) grant awarded to Power Train Industries, Inc. by the Virginia Beach Development Authority?
The $192,600 EDIP grant supports Power Train’s operational expansion plans, including the increase of its current 22,000-square-foot facility to a 100,000-square-foot manufacturing site.
Where is Power Train Industries, Inc. currently located and where are they planning to expand?
Power Train Industries, Inc. is currently operating from 2503 Squadron Court in Virginia Beach. They are planning to expand to a 100,000-square-foot manufacturing site at 464 Progress Lane in Virginia Beach.
Who is the Project Manager of Power Train’s expansion project and what are their thoughts on the Virginia Beach Department of Economic Development’s assistance?
Project Manager Mia Ciasulli is leading Power Train’s expansion project. She expressed pride in the partnership with the city and looks forward to fostering the company’s manufacturing presence in Virginia Beach.
How does Power Train Industries, Inc. plan to utilize the city’s workforce development programs following the EDIP grant?
Operations Manager Chris Montero highlighted plans to capitalize on the city’s workforce development programs to attract and retain local talent for Power Train’s expansion project.
