~ Prism Maritime to invest $4 million to establish two additional facilities ~
Chesapeake, VA — Governor Ralph Northam today announced that Prism Maritime LLC, a full-service provider of maritime support services to the U.S. government, will invest $4 million to expand in the City of Chesapeake. The company will construct two new 12,000-square-foot facilities to be used for manufacturing, lab, and storage space in the Greenbrier North Commerce Park. Virginia successfully competed with California for the project, which will create 166 new jobs.
“The maritime industry is a key economic force for the Hampton Roads region and the entire Commonwealth,” said Governor Northam. “Prism Maritime’s continued growth is evidence of the high-quality infrastructure and workforce pipeline that helped Virginia earn consecutive titles as CNBC’s best state for business. Our administration remains focused on helping Virginia’s workers and businesses thrive, and we support Prism’s expansion in Chesapeake.”
Founded in 2006 and headquartered in the City of Chesapeake, Prism Maritime provides engineering, research, development, technical, and modernization services to its military clients. They work with clients to integrate technological improvements for land-based and shipboard systems. Prism Maritime develops drawing and design packages for installations or manufacturing. Their work supports the new technologies and systems in the Department of Defense maritime environment.
“Prism Maritime’s impressive track record in the City of Chesapeake is a testament to Virginia’s favorable business environment and the region’s robust talent pool, enhanced by those of the 15,000 men and women exiting the military annually in Hampton Roads who then join the workforce,” said Secretary of Commerce and Trade Brian Ball. “The addition of 166 new jobs is a great boost to the local economy, and this expansion will support Prism’s continued success in the Commonwealth.”
“We are very excited about the expansion of our operations in Chesapeake,” said CEO and President of Prism Maritime Ron Lee. “This new fabrication facility allows Prism to continue to support the Navy with even more services on our prime contracts, as well as expanding our customer base within the commercial maritime industry. After collaborating with the City of Chesapeake and the Commonwealth of Virginia and considering the many benefits for doing business here, we chose this location for expansion to be near both our customers and our corporate headquarters. We look forward to continued growth and creating additional jobs in Chesapeake and in Hampton Roads.”
“Hampton Roads is fortunate to have many great private partners working to support our military and maritime interests,” said Congressman Bobby Scott. “These investments will help spur further economic growth throughout our region and the Commonwealth as we continue our economic recovery from the COVID-19 pandemic.”
The Virginia Economic Development Partnership worked with the City of Chesapeake to secure the project for Virginia. They will support Prism Maritime’s job creation through the Virginia Jobs Investment Program, which provides consultative services and funding to support the employee recruitment and training activities of companies creating new jobs. As a business incentive that supports economic development, the Virginia Jobs Investment Program reduces the human resource costs of new and expanding companies. The program is state-funded, which demonstrates Virginia’s commitment to enhancing job opportunities for its citizens.
“We are excited for the announcement of Prism’s expansion of its local presence and proud that the company chose the City of Chesapeake as the location for its continued growth,” said Mayor of the City of Chesapeake Rick West. “Prism’s growth is not only important to Chesapeake, but the Hampton Roads region in general, as the company has become an important partner to the area’s maritime and military assets.”
“The city is proud to have Prism Maritime’s corporate headquarters call Chesapeake home,” said Director of Economic Development for the City of Chesapeake Steven Wright. “Prism’s creation of over 160 new, well-paying jobs and $4 million in capital investment will continue to help grow the city’s economy and improve the quality of life for its citizens. Prism is a great corporate partner for Chesapeake and we look forward to working with the company as it continues to grow.”
“I am pleased that Prism Maritime is making this investment in Chesapeake,” said Senator Lionell Spruill. “This expansion creates high-skilled jobs in our region, while offering services to the maritime and defense community. This is a big win for the Commonwealth of Virginia.”
“Prism Maritime is another jewel in the economic development crown of Hampton Roads businesses providing services to our military and the commercial maritime industry,” said Delegate C. E. Cliff Hayes, Jr. “I congratulate Prism on its continued success, and I thank the company for choosing to expand its operations in the 77th House District.”
Office of the Governor
Virginia Economic Development Partnership
Contact: Suzanne Clark
Prism Maritime LLC
Contact: Greg Kruer