High-tech company Vectrona lands expansion grant in Virginia Beach

VIRGINIA BEACH, Va. (WAVY) — A high-tech company is expanding in Virginia Beach.

The Virginia Beach Development Authority (VBDA) recently approved an Economic Development Investment Program (EDIP) grant of $85,000 to Vectrona.

Vectrona provides “innovative system analysis, training services and engineering solutions, as well as developing technology applications” for the Department of Defense.

Founded in 2011, Vectrona established its corporate headquarters in Virginia Beach. The company is set to expand its current 975-square-foot location on Commonwealth Place to a 4,535 square feet space on Viking Drive.

It will invest a total of $120,000 in equipment and furnishings and create 40 new jobs with average salaries of $95,000, excluding benefits, in addition to retaining 18 jobs.

“As a Virginia Beach native, I’m extremely grateful to have served the Navy and raised my family here,” said Vectrona President and CEO Joe Gelardi. “I now look forward to the opportunity to give back to the community by growing Vectrona and our solutions, and greatly appreciate the City’s support.”

Learn more about Vectrona HERE.