NORFOLK, Va. (WAVY) — Virginia Gov. Glenn Youngkin announced a sports medicine company will expand at the Innovation Research Park at Old Dominion University, creating 92 jobs.
Youngkin’s office made the announcement via press release before Youngkin was set to speak at an event with the City of Norfolk’s Economic Development Department. Embody, Inc.’s will expand at their current headquarters at 4211 Monarch Way in the center of the master planned university village.
Embody will invest $5 million to increase research and development in soft tissue healing.
“Embody’s growth in the City of Norfolk demonstrates the strength of research and development, higher education resources, and talent the Hampton Roads region offers innovative medical technology developers,” Youngkin said in the release. “We look forward to seeing this homegrown Virginia company’s far-reaching impact, advancing the sports medicine field in our Commonwealth and beyond.”
Norfolk Mayor Kenny Alexander says jobs like these highlight the need for proper job training for candidates interested in new jobs popping up across the 757.
“The jobs require a certain talent, a certain skill set,” he said. “Skilled trades in allied health, or welding, HVAC, or even in this area.”
Norfolk’s Director of Economic Development Jared Chalk says they hope incentives encourage businesses to invest and grow in the mermaid city.
“A waiver of your BPOL tax, two years of BPOL. We got building reduction permits, permit relief. Things like that to help people grow and help them expand quickly,” he said.
As we emerge from the economic troubles of the pandemic, city officials say one thing is for certain.
“We’re seeing companies like this come back and really invest in people, invest in capital,” said Chalk. “We are boots on the ground working with existing companies. We’re really focused on business retention and expansion. And so I think this is a great opportunity for startups and growing companies to really thrive.”
Executives from Embody, Inc. say they’re grateful to the city and state for helping them with the expansion.
“Building Embody in the Commonwealth of Virginia and specifically within the City of Norfolk has proven to be an advantage for us,” said Jeff Conroy, Founder and CEO of Embody. “It only makes sense that we expand this relationship as we prepare for significant growth. The advantages for us include access to a technical workforce, strong academic and clinical research partners, our DARPA/DOD partners, and an investor base committed to funding innovation and breakthrough healthcare.”
The announcement comes just months after ODU was designated as a prestigious R1 research university.