Three Local Small Businesses Approved for Investment Grants

Virginia Beach Economic Development Logo

 Virginia Beach Economic Development‘s press release announced the three recipients of economic grants. See the full press release below.

“Virginia Beach, Va. (Nov. 19, 2019) — DOMA Technologies, G2 Ops and InMotion Hosting today were awarded Economic Development Investment Program (EDIP) grants from the Virginia Beach Development Authority (VBDA).

DOMA Technologies, LLC, is a leader in various technology-based document solutions, from scanning and indexing to storage, retrieval and disposition. It has locations in three other cities (Raleigh, Charlotte and Washington, D.C.) and is expanding its Virginia Beach headquarters, currently located at 851 Seahawk Circle. At its new location at 585 London Bridge Road, DOMA will increase its square footage and significantly expand its workforce, growing from 175 to 475 full-time employees. The average salary, exclusive of benefits, will be $33,000. The company received an EDIP grant of $180,000.

G2 Ops is a woman-owned small business that provides systems engineering services, cyber security analyses, threat assessments and security consulting. The firm is listed on the Inc. 5000 as one of the fastest growing private companies in the country. Its clients include the Department of Defense, U.S. Coast Guard, Naval Sea Systems Command (NAVSEA) and is active with a number of higher education institutions in the region. It received an EDIP grant of $20,000 based on the 10 new full-time positions the company expects to add when it expands its facility located at 2829 Guardian Lane. The wage of the new jobs, excluding benefits, will average $65,000 a year.

InMotion Hosting, a web hosting and web design services company, received an Economic Development Investment Program grant of $200,000 based on its capital investment of $10,797,500 in a new location and creation of 50 new jobs with an average annual salary of $51,064. The company is consolidating two current locations into a new location at 555 S. Independence Blvd.

“Small businesses are the lifeblood of our city and DOMA Technologies, G2 Ops and InMotion Hosting are three great examples of how the EDIP recognizes and invests funds in small businesses to help them grow,” said Mayor Robert M. “Bobby” Dyer. “We want to continue to expand our business base and add jobs in emerging fields.”

The City Council put the program in place 25 years ago to help qualifying companies with their growth needs. Economic Development Department staff work with potential award seekers to evaluate a business’ potential to qualify for an award and the VBDA administers the program. Awards are not guaranteed. Criteria for awards is based on a number of factors, from the amount of capital investment and/or job creation over a 36-month period to whether the company will locate in the APZ-1 area or is among the City’s target industry sectors.

Comments from the recipients:

“The DOMA Technologies team is proud to live and work in Virginia Beach. For the past 20 years, we have made it our mission to serve and enrich our local community through both our services and giving initiatives. We have a vision to see our city grow into a powerful player in the software technology sector and are excited to be growing future-focused jobs in the area,” said President Pat Feliciano. “We are honored to receive this grant in support of our mission and will be investing in the future growth of both DOMA and Virginia Beach as we expand our workforce this year.”

“The City of Virginia Beach’s continued support and confidence in G2 Ops, Inc. is greatly appreciated. G2 Ops intends to invest these funds in a 3,000 square foot expansion of our current office for new employees,” said Tracy Gregorio, president of G2 Ops. “This commitment from the City will help us establish specialized modeling and cybersecurity software environments and workspaces that will help bring new federal and commercial investment to the Virginia Beach area and open additional employment opportunities to our community.”

“InMotion Hosting is honored to have an opportunity to expand our footprint in the city of Virginia Beach through the purchase of a 61,000 square foot building. Over the past 15 years, the greater Virginia Beach region has provided us with extraordinary personnel talent who are truly dedicated in providing exceptional support and service to our customers worldwide,” said Sunil Saxena, a co-founder of InMotion Hosting.

“It is particularly rewarding to see the majority of our senior management being comprised of local residents that joined us as entry level employees, and through their hard work and dedication, are now in high-level leadership positions,” stated Todd Robinson, a co-founder of InMotion Hosting. “We are sincerely grateful to Governor Northam, the Virginia Economic Development Partnership, the Hampton Roads Economic Development Alliance, and the City of Virginia Beach. Their support, along with the Virginia Jobs Investment Program, have helped to ensure that we have the resources necessary to maintain our position as an industry leader in the web hosting services and software space.”

Access the press release here.