Major investment to bring new jobs and offshore wind manufacturing facility to Chesapeake

Chesapeake, Virginia – Governor Glenn Youngkin announced today that LS GreenLink USA, Inc. will invest $681 million to build a state-of-the-art 750,000-square-foot high-voltage direct current submarine cable manufacturing facility in the City of Chesapeake. This facility aims to serve the global offshore wind industry and will be built on approximately 100 acres of brownfield land, creating over 330 full-time jobs.

“LS GreenLink’s investment in Virginia will showcase the Commonwealth as a leader in offshore wind industry manufacturing,” said Governor Youngkin. “LS GreenLink has recognized that Virginia has the skilled talent, world-class logistics location, and business environment that will allow it to serve its growing global customers for submarine power cables.”

A Commitment to Innovation and Employment

The new facility will enhance LS GreenLink’s ability to meet the increasing global demands for submarine power cables. “This state-of-the-art facility represents our commitment to pushing the boundaries of technology and engineering,” said President & CEO of LS Cable & System Bon-Kyu Koo. “This facility will not only enhance our capability to meet the growing global demands for submarine power cables, but will also position us at the forefront of the industry.”

Chesapeake Mayor Rick West expressed his excitement about the project: “We are beyond thrilled to welcome LS Greenlink to Chesapeake. This transformative project not only strengthens our local economy, but also solidifies Chesapeake’s status in the offshore wind manufacturing industry.”

Support from State and Local Leaders

Governor Youngkin highlighted the collaborative efforts that brought this project to Virginia. “The Inflation Reduction Act continues to deliver for Virginia,” said U.S. Senator Mark Warner. “Thanks to this once-in-a-generation legislation, the clean energy industry is growing, and Virginia is benefiting.”

U.S. Senator Tim Kaine also praised the development: “I’m thrilled hundreds of clean energy manufacturing jobs are headed to Virginia thanks to the Inflation Reduction Act. LS GreenLink’s decision to build a facility in Chesapeake is a testament to Hampton Roads’ talented workforce and strong community.”

Economic Impact and Future Prospects

The investment by LS GreenLink is expected to have a significant positive impact on the local economy. Congressman Bobby Scott noted, “Today’s announcement cements Virginia’s role as a leader in offshore wind manufacturing as well as deployment. The Biden-Harris Administration’s ambitious efforts to expand offshore wind, with additional investment from the Commonwealth, are creating good jobs in our communities.”

Senator Louise Lucas echoed these sentiments, emphasizing the local benefits: “Their decision to choose Chesapeake for their subsea cable manufacturing facility will provide significant job opportunities for our citizens and solidify the Hampton Roads region’s position as a leader in the offshore wind industry.”

Collaboration and Community Support

The project was supported by various local and state organizations, including the Virginia Economic Development Partnership, the City of Chesapeake, the Hampton Roads Alliance, and the Virginia Maritime Association. Governor Youngkin approved a $13.2 million grant from the Commonwealth’s Opportunity Fund to assist with the project. The company is also eligible for benefits from The Port of Virginia Economic and Infrastructure Development Zone Grant Program.

“The Virginia Maritime Association welcomes LS GreenLink USA as a strategic investor in our commercial waterfront and the newest member of our maritime community,” said Virginia Maritime Association Executive Director David White.

About LS GreenLink USA

LS GreenLink is a wholly owned subsidiary of LS Cable & System, Ltd. (LS C&S), a global leader in power and communication cable and system solutions. Founded in 1962, LS C&S develops and provides cable solutions for power grids and communication networks around the world. LS C&S has over 6,450 employees and 35 subsidiaries in 17 countries. LS C&S is a subsidiary of LS Corp., a global industrial conglomerate headquartered in South Korea.

Support for LS GreenLink USA’s job creation will be provided through the Virginia Talent Accelerator Program, which offers customized workforce training services at no cost to qualified new and expanding companies as an incentive for job creation. This program, ranked the No. 1 Customized Workforce Training Program in the United States by Business Facilities in 2024, was created by VEDP in collaboration with higher education partners, with funding support from the Governor’s administration and the Virginia General Assembly.

The establishment of this facility is a significant milestone for Virginia’s offshore wind industry, further solidifying the state’s position as a leader in clean energy and manufacturing innovation.

Donald Wolfe

Donald’s writings have appeared in HuffPost, Washington Examiner, The Saturday Evening Post, and The Virginian-Pilot, among other publications. He is a graduate of the University of Virginia. He is the Virginian Tribune's Publisher.

Related Articles

Comments are closed.

Back to top button