Veteran-owned maritime solutions company invests $213,000 to grow capacity for military, industrial, and recreational customers
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 its operations and create 86 new jobs.
This investment marks a major milestone in Anchor Innovation’s 20-year journey supporting military, industrial, and recreational maritime customers, while reinforcing Hampton Roads’ growing role as a national hub for veteran-led innovation and maritime technology.
“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 shows why Virginia leads the way in creating jobs, growing businesses, and honoring those who served.”
“Anchor Innovation’s continued success highlights why Virginia is the premier destination for veteran-owned businesses,” said Secretary of Commerce and Trade Juan Pablo Segura. “I’m proud to support Anchor’s mission and the remarkable men and women driving its growth.”
Supporting Growth Through Innovation and Jobs
Anchor Innovation’s expansion includes additional boatyard space and a new 1,800-square-foot office in Virginia Beach’s Lynnhaven area, which will serve as the company’s new administrative headquarters. The facility will centralize operations such as human resources, payroll, and finance, while freeing up workshop space for technical staff and maritime projects.
These investments will help Anchor meet the growing demand for unmanned surface vessel systems, advanced maritime technologies, and Department of Defense programs, while enhancing efficiency and scalability across its operations.
“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 Mark Olson, Chief Growth Officer of Anchor Innovation. “With support from the Virginia Economic Development Partnership, we’re accelerating our ability to recruit, train, and retain top-tier talent while strengthening our position as a trusted government and industry partner.”
Community and Economic Impact
Local leaders praised the expansion as a major win for Virginia Beach and the Hampton Roads regional economy.
“Virginia Beach has seen tremendous growth over the past year, and we’re thrilled to add Anchor Innovation to that growing list,” said Amanda Jarratt, Deputy City Manager for Virginia Beach. “Anchor’s decades of support for U.S. military and government agencies have made them a cornerstone of our maritime economy.”
“Anchor Innovation’s expansion is a tremendous win for Virginia Beach and the Commonwealth,” said Senator Bill DeSteph. “As a veteran-owned small business, the company exemplifies the innovation, technical excellence, and dedication that define our workforce and strengthen Virginia’s leadership in maritime technology.”
“Anchor Innovation embodies the spirit of Hampton Roads—where service, innovation, and economic growth meet,” said Delegate Michael Feggans. “Their expansion strengthens our defense sector, supports new jobs, and ensures that our region continues to lead in maritime excellence.”
About Anchor Innovation, Inc.
Founded in 2004, Anchor Innovation, Inc. is a service-disabled, veteran-owned small business (SDVOSB) specializing in maritime training, maintenance, operational support, and technology integration. Headquartered in Virginia Beach, Anchor provides solutions for both government and commercial customers across the defense, industrial, and recreational maritime sectors.
The company’s mission is to advance maritime readiness and operational excellence through innovation, talent development, and industry partnerships.
Learn more at www.anchorinnovation.com.
About the Virginia Economic Development Partnership (VEDP)
The Virginia Economic Development Partnership (VEDP) works with local and regional partners to encourage job creation and capital investment in Virginia. VEDP supported Anchor Innovation’s expansion through the Virginia Jobs Investment Program (VJIP), which provides consultative services and funding to help new and expanding companies recruit and train employees.
Learn more at www.VEDP.org.
