The Virginia Beach Development Authority has approved Power Train Industries Inc. to receive an Economic Development Investment Program grant in the amount of $192,600.
Power Train Industries, which has operated a manufacturing facility in Virginia Beach since 2012, manufactures driveshafts for popular domestic and foreign passenger cars and light to medium trucks.
To support the growing business, Power Train is expanding from its current 22,000-square-foot manufacturing operation to a new 100,000-square-foot site on 464 Progress Lane.
“We appreciate the opportunity to work with the Virginia Beach Department of Economic Development,” said Mia Ciasulli, project manager for Power Train. “The process was simple, and the team did a great job with evaluating our application. We are proud to partner with the City of Virginia Beach and look forwarding to growing our manufacturing operations in the area.”
The EDIP grant will assist Power Train in the relocation and expansion of current operations to the new site.
“Power Train Industries is excited to expand and grow the Advanced Manufacturing sector of Virginia Beach. We are looking forward to utilizing the City’s workforce development programs to attract and retain top hometown talent,” said Power Train Operations Manager Chris Montero.
“Power Train Industries has grown significantly during their time in Virginia Beach,” said Chuck Rigney, interim director of the Virginia Beach Department of Economic Development. “We are thrilled the grant was awarded, and it’s clear this investment will pay off by keeping a major manufacturing facility here.”
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Chris Graham
