Asubmarine cable manufacturing facility will bring $681 million of investment to the City of Chesapeake, Virginia. GreenLink USA, Inc. plans to build 750,000-square-foot high-voltage direct current submarine cable manufacturing facility to serve the global offshore wind industry on approximately 100 acres of brownfield in the city. The new facility will create over 330 full-time jobs.
“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.”
“We look forward to being an active member of the business community in Virginia,” said Managing Director of LS GreenLink Patrick Y. Shim. “We would like to extend our sincere gratitude to our partners at the Virginia Economic Development Partnership, the Chesapeake Economic Development Authority, and the Hampton Roads Alliance.”
LS Greenlink USA will invest $681 million into submarine cable manufacturing facility in Chesapeake, VA, creating 330 jobs. (Photo: Business Wire)
“LS GreenLink’s investment in Virginia will showcase the Commonwealth as a leader in offshore wind industry manufacturing,” said Governor Glenn 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.”
“I would like to congratulate LS GreenLink USA on the decision to locate their first US offshore wind cable manufacturing facility in the City of Chesapeake,” said Hampton Roads Alliance President and CEO Doug Smith. “This is a significant event. In addition to the direct benefits to the Hampton Roads economy, this decision reflects our region’s desire and ability to serve as one of the primary hubs of the offshore wind industry in the US. We eagerly celebrate this announcement and will continue working to grow the offshore wind industry in Hampton Roads.”
The Virginia Economic Development Partnership worked with the City of Chesapeake, the Hampton Roads Alliance, and the Virginia Maritime Association to secure the project for Virginia. Governor Youngkin approved a $13.2 million grant from the Commonwealth’s Opportunity Fund to assist the City of Chesapeake with this project. The company is eligible to receive state benefits from The Port of Virginia Economic and Infrastructure Development Zone Grant Program.
The Virginia Panel Corporation To Invest $11M Into Waynesboro Machine Shop
The Virginia Panel Corporation (VPC), a manufacturer of interconnect solutions products, is investing $11 million to relocate and expand its current machine shop and implement an enterprise manufacturing system using digital technology in the City of Waynesboro. The company will retrain its current 160 employees to utilize the new system and machine shop equipment.
Virginia Panel Corporation will invest $11M into machine shop expansion in Waynesboro, VA. (Photo: Waynesboro.com)
“VPC is very appreciative of the financial support as we expand using technology to manufacture technology,” said Virginia Panel Corporation President Sandy Stowers.
“We appreciate Virginia Panel’s longstanding commitment to Waynesboro,” said Greg Hitchin, Waynesboro Director of Economic Development & Tourism. “We are delighted to be able to assist them with their expansion and the advanced training their employees will receive using the Virginia Jobs Investment Program grant.”
Virginia Panel Corporation (VPC), founded in 1959, designs, manufactures and markets interconnect solution products for industries including automotive, aerospace, new space, defense, medical, telecommunication, and more. VPC is equipped with the latest technology for manufacturing all components of an interface connection system from basic to complex applications.
The Virginia Economic Development Partnership worked with the City of Waynesboro to secure the project for Virginia and will support VPC’s retraining efforts through the Virginia Jobs Investment Program (VJIP), which provides consultative services and funding to companies creating new jobs or upskilling their existing workforce 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.
Check out all the latest news related to Virginia economic development, corporate relocation, corporate expansion and site selection.
Source link : https://businessfacilities.com/ls-greenlink-usa-virginia-panel-corporation-to-invest-total-692m-in-virginia/
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Publish date : 2024-07-11 16:25:07
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