$681 Million Facility in Chesapeake Set to Become Virginia’s Tallest Structure

LS GreenLink USA, Inc., a South Korean-based LS Cable & System subsidiary, is set to construct a $681 million facility in Chesapeake, Virginia. This structure will stand at around 70 stories, approximately 700 feet high, thus becoming the tallest structure in Virginia and the loftiest between Philadelphia and Charlotte. With a footprint of about 750,000 square feet, the facility will overshadow the current tallest building in the state, the Westin at Virginia Beach Town Center.

This tower’s primary role will be producing submarine power transmission cables for offshore wind projects. The site selected for construction spans nearly 100 acres of brownfield in Paradise Creek, just south of Portsmouth’s Cradock neighborhood. This strategic location was chosen over 15 other contenders nationwide, including Fairwinds Landing in Norfolk.

The project, announced by Gov. Glenn Youngkin’s administration, has been hailed by Chesapeake Mayor Rick West as the city’s most significant economic development. The Mayor touted the future structure’s unique attributes, emphasizing its contribution to offshore wind energy and the local job market.

The LS GreenLink facility is forecasted to create approximately 338 new full-time jobs eagerly anticipated by the local community. As Gov. Youngkin pointed out, the investment manifests Virginia’s leading position in the offshore wind industry and its capacity to meet the needs of the growing global customer base for submarine power cables.

Being one of the world’s largest cable manufacturers, LS is receiving significant support to make this project a reality. The company secured $100 million in tax credits from the Inflation Reduction Act and a supplementary $13.2 million grant from the Commonwealth. This financial backing was applauded by Virginia Senators Tim Kaine and Mark Warner and Representative Bobby Scott (D-3rd District), who saw it as an incentive for the clean energy industry’s growth and an indication of promising opportunities in Hampton Roads.

The establishment of this facility aligns seamlessly with two major wind energy projects underway off the coast: Dominion Energy’s announcement to acquire a lease for a 40,000-acre offshore wind project off the Outer Banks and their involvement in a $9.8 billion offshore wind project taking shape 25 miles off the coast of Virginia Beach.