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Dive Overview:
- a A subsidiary of LS Cable & System in South Korea would spend The company announced that it has invested more than $680 million to build a high-voltage direct current submarine cable manufacturing facility in Chesapeake, Virginia. July 9 Press Release.
- LS GreenLink USA’s 750,000-square-foot facility will create more than 330 jobs with an average annual salary of approximately $76,000, the company said. Chesapeake Economic Development Release.
- The Chesapeake facility will meet demand for undersea power cables used in the global supply chain for offshore wind farms and renewable energy projects, the economic development agency said, and is expected to begin operations in 2027.
Dive Insights:
The Chesapeake project has already begun receiving federal funding. To support the clean tech industry. In April, the Department of Energy awarded LS Green Link USA an estimated $99.1 million in investment tax credits. Article 48C Inflation control law.
LS Greenlink USA, working with site selection advisor Evergreen Location Strategies, has been looking at several potential locations across the U.S. for more than two years, managing director Patrick Shim told Manufacturing Dive in an email.
“In the end, we chose two sites, both of which were in the Hampton Roads region of Virginia,” Sim said. “We had over 30 requirements for each site, but the Chesapeake site ultimately emerged as the best choice.”
The LS GreenLink USA facility is located at Deepwater Terminal near Virginia’s ports with access to interstate highways. According to the terminal’s website:. The location will significantly increase ship traffic to the Port of Virginia, said David White, executive director of the Virginia Maritime Association. It said in a statementDC undersea cables are used for electricity transmission and can carry power between countries and offshore wind farms.
“Our staff worked diligently with our economic development partners and the LS team to find the best location to locate our manufacturing operations on the East Coast to leverage Virginia’s deep waterways, established supply chain and skilled workforce to support the growing offshore wind industry,” White said.
Regarding employees, LS Green Link Also, I chose that location. Sim said he is particularly focused on access for veterans. Nearby are Naval Station Norfolk, Naval Air Station Oceana, and Joint Base Langley-Eustis.
The Chesapeake facility is the latest addition to LS Cable & Systems’ global expansion plans. The company also has a facility in Tarboro, North Carolina, that is currently undergoing a $26.9 million expansion.
To meet the demand for offshore wind power, other Manufacturing Companies like JSW Steel Expanding India based companies to the US Investing More than $200 million in upgrades in Texas and Ohio A facility that produces clean steel sheets for the offshore wind industry.
