Lyon shipyard expands marine facility in Norfolk, Virginia
Lyon Shipyard, a full-service ship repair and industrial services provider, will invest $ 24.4 million to expand its business in Norfolk, Virginia. The project is expected to create 119 jobs.
The company plans to add a new marine freight elevator and increase the footprint of its waterfront dry dock. Lyon currently has two facilities in Norfolk located on over 30 acres of prime waterfront property along the east branch of the Elizabeth River.
“When we started exploring the expansion of the shipyard, other states contacted us about a possible relocation,” said George Lyon, president of the Lyon shipyard. “Because of the resources here in Virginia and the willingness of the city and the Commonwealth to help us with our plans, we realized Virginia was the perfect location for the Lyon shipyard. We are delighted to continue our story here in Norfolk.
The Virginia Economic Development Partnership (VEDP) worked with the City of Norfolk to secure the Virginia Project and will support job creation at the Lyon Shipyard through the Virginia Jobs Investment Program. As a business incentive supporting economic development, VJIP reduces the human resource costs of new and expanding businesses. VJIP is publicly funded, demonstrating Virginia’s commitment to improving employment opportunities for citizens.
“We congratulate Lyon Shipyard on their success and thank them for expanding operations in Norfolk,” said Secretary of Commerce and Commerce Brian Ball. “The shipping industry is a major economic driver for Hampton Roads, and partners like Lyon ensure that commercial and government vessels remain in operation. Commonwealth recruitment and training incentives help secure these competitive ventures, and we’re excited to see the addition of 119 new jobs for hard-working residents in the area.
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. In addition, the Lyon Shipyard will also receive a 2021 Small Shipyard Grant from the U.S. Department of Transportation’s Maritime Administration.
“The US shipbuilding industry is critical to our national infrastructure, as well as to the economic health of our country,” said Matthew Paxton, president of the Shipbuilders Council of America. “Significant investments by the Commonwealth of Virginia and the United States Maritime Administration in the Lyon Shipyard are accelerating growth in one of America’s most innovative heritage industries and will inject significant capital into communities form an ocean to another.
The Lyon shipyard provides commercial and government customers with services including marine electronics repair, barge repair and jetty side repairs, as well as the transportation of ships out of the water for underwater repairs to the sea. ‘equipment such as propellers, tail shafts and rudders.