Anchor Innovation Expands Operations in Virginia Beach

RICHMOND, VA - Governor Glenn Youngkin today announced that Anchor Innovation, Inc., a service-disabled, veteran-owned small business headquartered in Virginia Beach, will invest $213,000 to expand company operations, creating 86 new jobs.

"Anchor Innovation's expansion is a powerful example of Virginia's entrepreneurial spirit and the strength of Hampton Roads' veteran community," said Governor Glenn Youngkin. "With hundreds of thousands of service members and veterans calling this region home, Virginia Beach has become one of the best places in the nation for veterans to start and grow a business. Anchor's continued success is proof that Virginia leads the way in creating jobs, growing businesses, and honoring those who served."

"Anchor Innovation's continued success shows that there's no better place than Virginia for veterans to start and grow a business," said Secretary of Commerce and Trade Juan Pablo Segura. "I am proud to support the exciting work Anchor is doing, as well as the heroic employees who make their mission possible."

"This grant represents more than just funding-it's a strong vote of confidence in Anchor Innovation's mission, our people, and the future we're building here in Virginia," said Anchor Innovation Chief Growth Officer Mark Olson. "Anchor proudly invests in Hampton Roads and the broader Commonwealth through local jobs, community partnerships, and forward-leaning maritime technology. With support from the Virginia Economic Development Partnership, we're accelerating our ability to recruit, train, and retain top-tier talent to meet the rising demand for maritime readiness and operational excellence. It strengthens our position as a trusted partner to the government while reaffirming our commitment to innovation, economic growth, and the next generation of capabilities."

For more than 20 years, Anchor has delivered specialized training, maintenance, and operational support while steadily expanding its capabilities to meet the evolving demands of both commercial and federal maritime sectors. With recent growth in areas such as unmanned surface vessels and advanced maritime technologies, Anchor has taken strategic steps to scale its infrastructure. The company has expanded its footprint by leasing additional boatyard space and opening a new 1,800-square-foot office in the Lynnhaven area of Virginia Beach. This new office will serve as the hub for administrative functions-including human resources, payroll, and finance-enabling the company to dedicate workshop space to technical staff and project operations. These investments support a growing workforce of subject-matter experts who are critical for emerging Department of War programs.

"Virginia Beach has seen tremendous growth over the past year, with companies announcing significant investments in our city, and we are thrilled to add Anchor Innovation to that growing list," said Virginia Beach Deputy City Manager Amanda Jarratt. "The decades-long support of U.S. military and government agencies has earned the company a stellar reputation and made them a cornerstone of the Hampton Roads maritime economy."

"Anchor Innovation's continued expansion represents a significant investment in Virginia Beach and our regional economy," said Senator Bill DeSteph. "As a service-disabled, veteran-owned small business, Anchor embodies the dedication, technical excellence, and innovation that define our local workforce. The creation of 86 new jobs and the company's growing role in supporting both defense and commercial sectors strengthen our position as a leader in maritime technology and workforce development. This is a tremendous win for Virginia Beach and the entire Commonwealth, and I am grateful to Anchor Innovation for their investment in our community."

"Anchor Innovation embodies the spirit of Hampton Roads, where service, innovation, and economic growth meet," said Delegate Michael Feggans. "As a service-disabled, veteran-owned small business supporting our nation's defense, their expansion in Virginia Beach strengthens the local workforce and reinforces House District 97's role as a hub for maritime excellence and opportunity."

VEDP worked with the City of Virginia Beach to secure the project for Virginia and will support Anchor's job creation through the Virginia Jobs Investment Program, which provides consultative services and funding to companies creating new jobs in order to support employee recruitment and training activities. As a business incentive supporting economic development, VJIP reduces the human resource costs of new and expanding companies. VJIP is state funded, demonstrating Virginia's commitment to enhancing job opportunities for citizens.

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