LS GreenLink USA Inc. is investing $681 million to build a state-of-the-art submarine power cable manufacturing facility in Chesapeake, Virginia. This development represents the largest capital investment in the city’s history and will be the largest facility of its kind in the United States.
As a subsidiary of the South Korean company LS Cable & System, LS GreenLink will start construction next year on a 98-acre brownfield site. The 753,400-square-foot facility is expected to be completed in 2027. It aims to meet the growing global demand for submarine power cables, which are vital for offshore wind farms and renewable energy projects.
The facility will be located at 1213 Victory Blvd., within the Hampton Roads Beltway and along the Elizabeth River. This strategic location offers excellent access to interstates 64, 264, and 464, as well as the Norfolk Southern railway, and is only 5 miles from the Port of Virginia. A notable feature of the facility will be its 656-foot power cable production tower.
The project has secured $99 million in Qualifying Advanced Energy Project Credits (48C), which support advanced energy projects. Additionally, LS GreenLink will receive $48 million in subsidies and tax incentives from the Commonwealth of Virginia and the City of Chesapeake, facilitated by the Virginia Economic Development Partnership and the Chesapeake Economic Development Authority.
The company also qualifies for benefits from the Port of Virginia Economic and Infrastructure Development Zone Grant Program. Once operational, the facility is expected to create over 330 full-time jobs.
The submarine power cable manufacturing sector in the U.S. is expanding rapidly due to the increasing demand for renewable energy and the growth of offshore wind farms.
This sector’s development supports the nation’s transition to sustainable energy. In a similar initiative, Cenergy Holdings plans to build a cable manufacturing facility in Baltimore, Maryland, with a $200 million investment to meet the growing need for grid upgrades.