Paul Michels, President & CEO
Coastal Training Technologies Corp.
Governor Gilmore Announces Coastal Training Technologies Expansion in Virginia Beach
-- Company's expansion will create 366 new jobs for Hampton Roads region --
Richmond - Governor Jim Gilmore today announced that Coastal Training Technologies Corp. will expand its Virginia Beach facility. The new 100,000-square-foot expansion will create 366 new jobs and a $14 million investment. A $500,000 grant from the Governor's Opportunity Fund will be given to the city to assist with site acquisition. Secretary of Commerce and Trade Barry E. DuVal attended today's announcement ceremony.
"I am delighted that Coastal Training Technologies decided to expand here in Virginia," Governor Gilmore said. "This is a very important company, not only in Virginia Beach, but also to our film industry. I am sure that it will continue to prosper in the Commonwealth."
Coastal Training Technologies has been headquartered in Virginia Beach since 1984. It is a multi-faceted film company that creates broadcast quality videos, illustrated employee handbooks, compliance manuals and a variety of CD-ROM products. Coastal Technologies currently employs 259 people in Virginia Beach. The expansion will include a new corporate headquarters, administration office, production studio and sound stage.
"As we consolidate our Virginia Beach-based personnel and equipment into this new corporate headquarters, Coastal looks forward to continuing to provide well-paying, technologically orientated employment opportunities locally, and to deliver much-needed training resources to a global marketplace," Paul Michels, President and CEO of Coastal Training Technologies Corp., said. "We are extremely grateful to Governor Gilmore and his staff for this vital assistance. In addition, we would like to thank the city of Virginia Beach, its citizens, Divaris Real Estate and the Virginia Economic Development Partnership for enabling Coastal Training to undertake this project. Coastal is eager to begin this next phase, and is honored to be considered a valued corporate neighbor."
"Coastal Training Technologies will create, produce and distribute training material in a variety of media," Secretary of Commerce and Trade Barry E. DuVal said. "Virginia Beach will benefit from the multi-media production capabilities offered by the company."
The Virginia Economic Development Partnership, the City of Virginia Beach, and Divaris Real Estate assisted Coastal Training Technologies Corp. with its decision to expand. The Virginia Department of Business Assistance will provide workforce training services.
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