The Mosaic Tile Company, the largest independent distributor of ceramic tile and stone in the mid-Atlantic region, has purchased 2644 Barrett St. in Virginia Beach for $1.5 million. The property comprises 23,900 square feet of industrial space that will become a state-of-the-art design center, which will open in August 2013. The company is currently located in a 12,000-square-foot facility on Avenger Drive in Virginia Beach.
The expansion will create six to eight new jobs with an average salary of $55,000. Mosaic Tile plans to invest $1.85 million to renovate the property, formerly the Hangar 9 facility. The building is located within the Lynnhaven Strategic Growth Area, in one of the Development Authority’s first industrial parks.
“This expansion represents a significant capital investment in the Lynnhaven business corridor, helps to retains nine jobs and creates new jobs,” said Warren D. Harris, director of Virginia Beach Economic Development. “Mosaic Tile has been very successful in Virginia Beach, and we are pleased the new location will help the company double its size. The quality of the design center will have a real impact, and we hope it is a catalyst for even more growth and development in this SGA.”
Robert Hughes, president of Mosaic Tile, said, "We selected this property within Virginia Beach because of its great visibility and proximity to Town Center and the Oceanfront. The city’s pro-business environment along with the competitive incentive package helped solidify our decision to stay and grow in Virginia Beach.”
The Virginia Beach Development Authority approved an Economic Development Investment Program grant of $50,000 based on the capital investment and job creation.
The Mosaic Tile Company was founded in 1972. The company has 10 design centers that showcase some of the most diverse ceramic tile, stone, metal and glass products from around the world. The company has five design centers in Virginia, two in Maryland and two in North Carolina. For more information, visit www.mosaictileco.com.
The mission of the Virginia Beach Department of Economic Development is to attract and retain national and international business and industry that results in the creation of new capital investment and jobs that increase the per capita income in the community. The City of Virginia Beach is the most populous city in the Commonwealth of Virginia with a population of 434,000 and is the 39th largest city in the United States. The City of Virginia Beach is recognized as the best run cities in America, by 24/7 Wall Street in 2012, and in 2011, Virginia Beach ranked number one for economic growth potential by Business Facilities. In 2012, the Department of Economic Development received re-accreditation through the International Economic Development Council, one of only 29 economic development organizations in the world to have this recognition. In 2011, the Department won an Award of Excellence for its marketing efforts from the International Economic Development Council. For more information, visit www.yesvirginiabeach.com.
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