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Area Development - Site Selection, Facility Planning and Workforce Development

LS Cable & System Expands Chesapeake, Virginia, Manufacturing Operations

12/22/2025
LS Cable & System Ltd., a company specializing in power and communication cable and system solutions, plans to expand its operations in Chesapeake, Virginia. The $689 million project is expected to create more than 430 jobs.

The company’s new manufacturing facility will feature capabilities across three key business lines: Copper rod production utilizing copper recycling and smelting, magnet wire manufacturing to support automotive and industrial markets and rare-earth magnet production, essential for electric motors and advanced weapons systems.

“This investment represents an exciting step in our continuing growth in the United States,” said LS C&S President and CEO Bon-Kyu Koo. “We’re not only expanding our manufacturing capabilities, we’re strengthening the U.S. domestic supply chains and supporting America’s leadership in energy and technology. By continuing the partnerships with the Commonwealth of Virginia, the City of Chesapeake, and the Hampton Roads region, we’re creating opportunities for the local community while helping to ensure secure, reliable infrastructure that supports national security and the nation’s energy future.”

To support the project Governor Youngkin approved a $7.3 million grant from the Commonwealth’s Opportunity Fund. The Governor also approved a performance-based grant of $1.5 million from the Virginia Investment Performance Grant, an incentive that encourages continued capital investment by existing Virginia companies. The company is eligible to receive benefits from The Port of Virginia Economic and Infrastructure Development Zone Grant Program.

“With three exciting projects in Chesapeake, LS Cable and Systems is poised to transform America’s tech manufacturing supply chain,” noted Secretary of Commerce and Trade Juan Pablo Segura. “Securing these supply chains does more than ensure smooth manufacturing timelines; it helps safeguard our national security. LS C&S’s continued investment in the Commonwealth shows that when the government moves at the speed of business, big things can happen quickly.

Support for LS C&S’s job creation will be provided through the Virginia Talent Accelerator Program, ranked the No. 1 workforce training program in the United States by Area Development in 2025. The program, created by VEDP in collaboration with higher education partners, provides training and recruitment solutions that are customized to a company’s unique operations, equipment, standards and culture. All program services are provided at no cost to qualified new and expanding companies as an incentive for job creation.

“The Port of Virginia is ready to support LS Cable & System’s strategic investment in Chesapeake,” added Port of Virginia CEO and Executive Director Stephen A. Edwards. “Advanced manufacturing facilities like LS Cable not only strengthen Virginia’s role in global trade but will help accelerate innovation in the electric vehicle industry. The Port of Virginia is a 21st-century port complex that will provide LS Cable the supply chain efficiency, consistency and connectivity needed to succeed in today’s competitive marketplace.”

The Virginia Economic Development Partnership (VEDP) worked with the City of Chesapeake, the Hampton Roads Alliance, and The Port of Virginia to secure the project.

"Congratulations to LS Cable & System and the entire LS Group on another major investment in Chesapeake,” said Hampton Roads Alliance President and CEO Douglas L. Smith. “The Hampton Roads Alliance is proud to support LS Group and to work alongside the City of Chesapeake as the company advances its commitment to expand U.S. power grid infrastructure. This investment aligns directly with the Hampton Roads Playbook, which prioritizes defense, energy, aerospace, and logistics. Energy security is national security and projects like this further solidify Hampton Roads as a global energy leader.”

LS Cable & System provides high-voltage, submarine, and other specialized cables, plus related engineering/installation for utilities, renewables, data centers, and transport.

"LS Cable’s $689 million investment solidifies Chesapeake’s position as a premier destination for advanced manufacturing,” noted Chesapeake Economic Development Director Steven Wright. “The establishment of new facilities for magnet wire and sintered rare-earth magnets production will provide much-needed support for U.S. supply chains for emerging mobility technologies and modern energy systems. This project will bring skilled jobs to Chesapeake and will strengthen the long-term industrial competitiveness of our region."

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