VIRGINIA BEACH, Va. – A manufacturing business will be investing over $1 million back into Virginia Beach.
Governor Northam announced Thursday that IMS Gear, a German-based manufacturer of automotive equipment, will invest $1.05 million to upgrade its CNC cutting machine in the City of Virginia Beach.
The Governor said the company’s 115 existing employees will be retrained to operate the new machinery with support from the Virginia Jobs Investment Program (VJIP).
The Virginia Values Veterans (V3) Program helps employers recruit, hire, train, and retain highly skilled veterans and IMS Gear is a participant in the program.
“IMS Gear has been a tremendous partner to Virginia Beach and the Commonwealth for nearly 20 years, and a great example of a company that has recognized the value of state and local partnerships,” said Governor Northam. “We are proud to support this important retraining project, and thank IMS Gear for making it a priority to provide quality job opportunities for our veterans.”
The Virginia Economic Development Partnership will support IMS Gear’s job retraining through VJIP. VJIP provides consultative services and funding to companies creating new jobs or experiencing technological change to support employee training activities.