LS Cable & System Ltd. announced a $689 million investment for a new manufacturing complex in Chesapeake, Virginia. The project, undertaken through three LS C&S subsidiaries, is expected to create more than 430 jobs and is described as the single largest capital investment in Hampton Roads history. Governor Glenn Youngkin approved $7.3 million from the Commonwealth’s Opportunity Fund and a $1.5 million performance-based grant from the Virginia Investment Performance Grant to support the initiative.
What it means
The new facility will add three key business lines: copper rod production utilizing recycling and smelting, magnet wire manufacturing for automotive and industrial markets, and rare-earth magnet production for electric motors and advanced weapons systems. LS C&S is currently evaluating several locations in the Chesapeake area for the complex. This investment is separate from the company’s previously announced LS GreenLink USA cable manufacturing and pier facility, which broke ground in April 2025.
Governor Youngkin stated that the announcement demonstrates Virginia’s commitment to reshoring American manufacturing and securing national supply chains. LS C&S President and CEO Bon-Kyu Koo said the investment represents an exciting step in the company’s continuing growth in the United States. The project is also eligible for benefits from The Port of Virginia Economic and Infrastructure Development Zone Grant Program, and job creation support will be provided through the Virginia Talent Accelerator Program.
Key facts
- $689 million total investment amount
- More than 430 new jobs expected
- Three LS C&S subsidiaries undertaking the project
- Copper rod, magnet wire, and rare-earth magnet production lines
- $7.3 million grant from Commonwealth’s Opportunity Fund
- $1.5 million performance-based grant from Virginia Investment Performance Grant
- Eligible for Port of Virginia Economic and Infrastructure Development Zone Grant Program benefits
- Separate from the LS GreenLink USA facility that broke ground in April 2025
Source: Virginia Economic Development Partnership news release