~ Lyon Shipyard will invest $24.4 million to expand operation, install new marine travel lift ~
Richmond, VA — Governor Ralph Northam announced that Lyon Shipyard, a full-service ship repair and industrial service provider, will invest $24.4 million to expand its operation in the City of Norfolk. The company will add a new marine travel lift and increase the footprint of its waterfront dry dock. Virginia successfully competed with North Carolina for the project, which will create 119 new jobs.
“Lyon Shipyard has been an integral part of the thriving maritime economy in Hampton Roads for nearly a century,” said Governor Northam. “The company’s continued investment and job creation in Norfolk is a powerful testament to the strength of the local workforce and the region as an international shipping hub. We are proud to support this expansion, and look forward to Lyon Shipyard’s future growth in our Commonwealth.”
Established in 1928, Lyon Shipyard has over 93 years of continuous service in ship repair and industrial service. Lyon Shipyard has two facilities in Norfolk located on over 30 acres of prime waterfront property along the eastern branch of the Elizabeth River. The company supplies commercial and government customers with services including marine electronics repair, barge repair, and pier side repairs, as well as hauling vessels out of the water for underwater repairs to equipment such as propellers, tail shafts, and rudders. The company’s commercial customers include tug and barge operators, dredging and marine construction contractors, ferry and cruise ship operators, research vessels, and commercial fishing companies. Lyon’s government customers include the U.S. Navy, U.S. Army, the Coast Guard, Military Sealift Command, and the Maritime Administration.
“We congratulate Lyon Shipyard on its success and thank them for expanding operations in Norfolk,” said Secretary of Commerce and Trade Brian Ball. “The shipping industry is a major economic driver for Hampton Roads, and partners like Lyon ensure commercial and government marine vessels stay in operation. The Commonwealth’s recruitment and training incentives help secure these competitive projects, and we are pleased to see the addition of 119 new jobs for the region’s hardworking residents.”
“When we started exploring the expansion of the shipyard, other states reached out to us about a possible relocation,” said George Lyon, President of Lyon Shipyard. “Due to the resources here in Virginia and the willingness of the city and the Commonwealth to help us with our plans, we came to the realization that Virginia was the place for Lyon Shipyard. We are excited to continue our story here in Norfolk.”
The Virginia Economic Development Partnership worked with the City of Norfolk to secure the project for Virginia and will support Lyon Shipyard’s job creation through the Virginia Jobs Investment Program (VJIP), which provides consultative services and funding to companies creating new jobs in order to support employee recruitment and training activities. As a business incentive supporting economic development, VJIP reduces the human resource costs of new and expanding companies. VJIP is state-funded, demonstrating Virginia’s commitment to enhancing job opportunities for citizens. The company is also eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development. Lyon Shipyard will also receive a 2021 Small Shipyard Grant from the U.S. Department of Transportation’s Maritime Administration.
“We are proud that Norfolk is home to one of the world’s most important maritime and defense ship repair communities,” said Norfolk Mayor Kenneth Cooper Alexander. “We appreciate that Lyon Shipyard chose to continue investing and creating jobs in Norfolk. After more than 90 years in operation, Lyon Shipyard’s ongoing commitment to our city reinforces our critical role in America’s ship repair industry and national defense.”
“The U.S. shipbuilding industry is critical to our national infrastructure, as well as the economic health of our nation,” said Matthew Paxton, President of Shipbuilders Council of America. “The important investments made by the Commonwealth of Virginia and the U.S. Maritime Administration to Lyon Shipyard accelerates growth in one of America’s most innovative legacy industries and will infuse important capital into communities from coast to coast.”
“I am thrilled to see Lyon Shipyard making a $24.4 million dollar investment in Norfolk to expand its facility,” said Senator Lionell Spruill, Sr. “The opportunity for more quality jobs in the ship repair industry is critical for our citizens. Lyon Shipyard has been a wonderful partner in our region for over 90 years, and we look forward to the company continuing to grow and succeed in our region.”
“I’m so thrilled to see Lyon Shipyard expanding its presence in our great city,” said Delegate Jay Jones. “With this investment, tens of millions of dollars will flow into Norfolk and countless workers will find new, good-paying jobs. I look forward to continuing our city’s relationship with Lyon Shipyard to bring even more jobs and investment as we build a Norfolk for every working family.”
Office of the Governor
Contact: Alena Yarmosky
Virginia Economic Development Partnership
(757) 622-4661 ext. 308