By South Tidewater News Report |
Sep 19, 2023
The Virginia Beach Development Authority (VBDA) has approved Hermes Abrasives USA, the U.S. subsidiary of Germany-based Hermes Abrasives and a global leader in industrial abrasive materials, to receive an Economic Development Investment Program (EDIP) grant in the amount of $100,000. Over 60 months, Hermes Abrasives USA will invest $5.6 million, purchasing and installing new machines in order to integrate new production lines, and improving brick and mortar infrastructure.