LS GreenLink to invest over $680 million to locate HVDC submarine cable manufacturing facility in the City of Chesapeake, creating over 330 new jobs
RICHMOND, VA — Governor Glenn Youngkin today announced that LS GreenLink USA, Inc. will invest $681 million to build a state-of-the-art 750,000-sq.-ft. high-voltage direct current submarine cable manufacturing facility to serve the global offshore wind industry on approximately 100 acres of brownfield in the City of Chesapeake. The new facility will create 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 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.”
“We are proud that LS GreenLink has chosen the Commonwealth of Virginia to build its submarine cable facility and become a partner in advancing our goal of becoming the market leader in offshore wind technology, development, and deployment,” said Secretary of Commerce and Trade Caren Merrick.
“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.”
“We are beyond thrilled to welcome LS Greenlink to Chesapeake,” said Chesapeake Mayor Rick West. “This transformative project not only strengthens our local economy, but also solidifies Chesapeake’s status in the offshore wind manufacturing industry. The significant job creation and investment from LS Greenlink are a testament to our city’s commitment to clean energy projects. We are also excited about our new partnership with South Korea and believe that this project will serve as a gateway to more collaborative opportunities between the great City of Chesapeake and other South Korean companies.”
“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. Made possible by this historic legislation, LS Greenlink’s facility will help support the burgeoning U.S. offshore wind industry, bring hundreds of new jobs to Hampton Roads, and drive investment in the region.”
“I’m thrilled hundreds of clean energy manufacturing jobs are headed to Virginia thanks to the Inflation Reduction Act,” said U.S. Senator Tim Kaine. “LS GreenLink’s decision to build a facility in Chesapeake is a testament to Hampton Roads’ talented workforce and strong community. This new facility is a win for workers, our economy, and all who rely on clean energy.”
“Today’s announcement cements Virginia’s role as a leader in offshore wind manufacturing as well as deployment,” said Congressman Bobby Scott. “The Biden-Harris Administration’s ambitious efforts to expand offshore wind, with additional investment from the Commonwealth, are creating good jobs in our communities. As a co-chair of the Offshore Wind Caucus, I am proud that a tax credit provision I authored in the Inflation Reduction Act is catalyzing investments in the domestic supply chain for offshore wind, generating clean domestic energy and creating good jobs nationwide, but especially here in Hampton Roads.”
“I am delighted to welcome LS GreenLink USA to the 18th Senate District,” said Senator Louise Lucas. “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. It’s exciting to see the investments we’ve made in infrastructure and workforce training are resulting in these economic development wins.”
“This is an exciting announcement for Chesapeake and the entire Hampton Roads region,” said Delegate Cliff Hayes. “An investment of this size with over 330 high-quality jobs will bring significant opportunities to our community. Our region is fortunate to be home to LS GreenLink USA.”
“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.”
“This significant investment by a world-leader in subsea cable manufacturing enhances Virginia’s reputation as the East’s premier offshore wind logistics hub,” said CEO and Executive Director of the Virginia Port Authority Stephen A. Edwards. “This strategic decision demonstrates how competitive Virginia is in attracting world-class industry and how the offshore wind industry in Virginia is gaining momentum. The port is ready to support GreenLink’s nearly $700 million investment in Chesapeake, and we look forward to building a collaborative and productive relationship with the newest member of the offshore wind community.”
“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. “Our staff diligently worked with our economic development partners and the LS team to locate the best site on the Eastern Seaboard for their manufacturing operations to support the growing offshore wind industry, taking advantage of Virginia’s deep channels, established supply chain, and skilled workforce. LS GreenLink USA clearly understands the Virginia advantage.””
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.
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.
Support for LS GreenLink USA’s job creation will be provided through the Virginia Talent Accelerator Program, will be provided through the Virginia Talent Accelerator Program, ranked the No. 1 Customized Workforce Training Program in the United States by Business Facilities in 2024. The program was created by VEDP in collaboration with higher education partners, with funding support from the Governor’s administration and the Virginia General Assembly. The program accelerates new facility startups through the direct delivery of recruitment and training services that are fully customized to a company’s unique products, processes, equipment, standards, and culture. All program services are provided at no cost to qualified new and expanding companies as an incentive for job creation.
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