RICHMOND, Va. – Governor Glenn Youngkin announced that LS Cable & System Ltd. plans a $689 million investment in Chesapeake, Virginia, through three subsidiaries, marking the largest capital investment in the Hampton Roads region’s history. The project is expected to create more than 430 new jobs.
According to the governor’s office, the investment will develop a domestic supply chain for magnetic copper wire and rare-earth magnets, critical components for national defense systems, including the Javelin missile, F-35 fighter jet, nuclear submarines, and unmanned aerial systems. Officials said the project also supports energy and manufacturing sectors.
The new manufacturing complex will include copper rod production using recycling and smelting, magnet wire production for automotive and industrial markets, and rare-earth magnet production for electric motors and advanced weapons systems. Governor Youngkin said the project highlights Virginia’s leadership in reshoring manufacturing and securing critical supply chains. “LS C&S’s continued investment in the Commonwealth strengthens American manufacturing, creates jobs, and builds a more secure future,” he said. Secretary of Commerce and Trade Juan Pablo Segura noted the importance of securing domestic supply chains for national security, while LS C&S executives emphasized that the investment will expand manufacturing capabilities and support U.S. energy and technology leadership.
The project builds on the company’s previous LS GreenLink USA cable manufacturing and pier facility project, which began in April 2025. Local leaders, including Chesapeake Mayor Rick West and Hampton Roads Alliance President Douglas L. Smith, said the investment reinforces Chesapeake’s role in advanced manufacturing and clean energy infrastructure. The Virginia Economic Development Partnership, the City of Chesapeake, the Hampton Roads Alliance, and The Port of Virginia worked to secure the project. Governor Youngkin approved a $7.3 million grant from the Commonwealth’s Opportunity Fund and a $1.5 million performance-based Virginia Investment Performance Grant to support the project. Workforce training and recruitment support will be provided through the Virginia Talent Accelerator Program. LS Cable & System Ltd., founded in 1962, employs over 6,500 people across 17 countries and specializes in power and communication cable systems.
Photo: Virginia.gov