Lyon Shipyard, a full-service ship repair and industrial service provider, will invest $24.4 million to expand its operation in Norfolk, Virginia. The project is expected to create 119 jobs.

The company plans to add a new marine travel lift 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 eastern branch of the Elizabeth River.

“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 (VEDP) 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. 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.

“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 hard working residents.”

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, Lyon Shipyard will also receive a 2021 Small Shipyard Grant from the U.S. Department of Transportation’s Maritime Administration.

“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.”

Lyon Shipyard 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.