Prism Maritime, a full-service provider of maritime support services to the U.S. government, will invest $4 million to expand in Chesapeake, Virginia. The project is expected to create 166 new jobs.

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.

“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.”

The Virginia Economic Development Partnership (VEDP) 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.

“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.”

Founded in 2006 and headquartered in the City of Chesapeake, Prism Maritime provides engineering, research, development, technical, and modernization services to its military clients Their work supports the new technologies and systems in the Department of Defense maritime environment.

“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.”

Virginia successfully competed with California for the project.