Virginia Governor Glenn Youngkin traveled to Norfolk Wednesday morning to announce a $8.5 million expansion investment coming to Lyon Shipyard. The investment will also create 134 new jobs.
"This is a big investment and it's going to be a big transformation out here," said Youngkin. "It is really fun."
Operating in Norfolk for nearly 100 years, Lyon Shipyard is a ship repair facility that works with the U.S. Navy and maritime industries.
Ken Kimball with the shipyard says the money will be used to expand their reach and work.
"Looking ahead, the plans are to almost triple that capacity," said Kimball. "Five years from now, what is the yard going to look like? That's the exciting part."
Youngkin says the money comes from Lyon Shipyard itself, with some help from the city of Norfolk and the Commonwealth's Economic Incentive Program.
"When we see economic development tied to growth and we see the growth happening in Hampton Roads, it creates opportunities," said Youngkin. "And not only are there opportunities for folks to come and work in the maritime industry today but then we see what we are doing to prepare the next generation."
Norfolk Mayor Kenny Alexander added that he is grateful to Lyon Shipyard for offering more jobs to Norfolk residents.
"This $8.5 million investment further signifies our city's position as a front-runner in ship repair and readiness," he said.
"This is such an anchor of our future," added Youngkin.
