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Firm Announces $1.16 Million Investment In New Facility
October 24, 2019

SRP Companies, a leading supplier to more than 60,000 retailers nationwide, has announced the company will invest $1.16 million to relocate a substantial portion of its warehouse operations from Philadelphia, Utah, and Oklahoma to the City of Virginia Beach.

Since its founding as a regional distributor of sunglasses in 1969, SRP Companies has grown into an international leader providing in-store merchandising solutions to a wide variety of retail partners and their consumers. SRP Companies, a subsidiary of parent company Soloray, are consolidating and expanding their storage, warehousing, and distribution services, currently located in Pennsylvania, Utah, California, and Ohio.

“We are very excited to be expanding our warehouse and distribution operations into Virginia Beach in 2020,” said Darrin Eisele, CEO of SRP Companies. “We are excited to be in such high-quality facilities close to the Port of Virginia. This enables us to improve the efficiency of our import activities and better serve our customers. Virginia Beach provides an excellent work environment for our employees and operations.”

“SRP Companies’ decision to move its operations to Virginia is a significant win for the distribution industry in Hampton Roads and the entire Commonwealth,” said Governor Ralph S. Northam in response to the announcement. “With access to major population centers and the Port of Virginia as an international gateway, leading companies like SRP continue to recognize the advantages of locating in our Commonwealth. We are confident that SRP’s new Virginia Beach facility will help the company grow on the East Coast.”

The Virginia Economic Development Partnership worked with the City of Virginia Beach, the Hampton Roads Economic Development Alliance, and the Port of Virginia to secure the project for Virginia. SRP Companies is eligible to receive benefits from the Port of Virginia Economic and Infrastructure Development Zone Grant Program.

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