Gov. Northam announces $1.16M investment in Virginia Beach

RICHMOND, Va. (WSET) -- Governor Ralph Northam announced Tuesday, Oct. 15 that SRP Companies will invest $1.16 million to relocate a substantial portion of its warehouse operations from Philadelphia, Utah, and Oklahoma to the City of Virginia Beach.

“SRP Companies’ decision to move its operations to Virginia is a significant win for the distribution industry in Hampton Roads and the entire Commonwealth,” said Northam. “With access to major population centers and the Port of Virginia as an international gateway, leading companies like SRP continue to recognize the advantages of locating in our Commonwealth. We are confident that SRP’s new Virginia Beach facility will help the company grow on the East Coast.”

According to a press release, SRP Companies provides in-store merchandising solutions to a wide variety of retail partners and their consumers.

“We are very excited to be expanding our warehouse and distribution operations into Virginia Beach in 2020,” said Darrin Eisele, CEO of SRP Companies. “We are excited to be in such high-quality facilities close to the Port of Virginia. This enables us to improve the efficiency of our import activities and better serve our customers. Virginia Beach provides an excellent work environment for our employees and operations.”

The Virginia Economic Development Partnership worked with the City of Virginia Beach, the Hampton Roads Economic Development Alliance, and the Port of Virginia to secure the project for Virginia. SRP Companies is eligible to receive benefits from the Port of Virginia Economic and Infrastructure Development Zone Grant Program.

For more information on this investment, go here.