Home News Industries Ports/Trade Lyon Shipyard plans $24.4M expansion, adding 119 jobs

Lyon Shipyard plans $24.4M expansion, adding 119 jobs

Norfolk company to grow waterfront dock

Published by

Norfolk’s Lyon Shipyard plans to expand its operation, investing $24.4 million and creating 119 jobs, Gov. Ralph Northam announced Wednesday.

The 93-year-old ship repair and industrial service provider plans to build a new marine travel lift and a larger waterfront dry dock on the Elizabeth River. Virginia competed for the project with North Carolina, according to the governor’s office. Lyon’s customers include the U.S. Navy, the Army, the Coast Guard, Military Sealift Command and the U.S. Department of Transportation’s Maritime Administration, as well as commercial maritime companies.

“Lyon Shipyard has been an integral part of the thriving maritime economy in Hampton Roads for nearly a century,” Northam said in a statement. “The company’s continued investment and job creation in Norfolk is a powerful testament to the strength of the local workforce and the region as an international shipping hub. We are proud to support this expansion, and look forward to Lyon Shipyard’s future growth in our commonwealth.”
The Virginia Economic Development Partnership worked with the city of Norfolk to secure the project for Virginia and will support Lyon Shipyard’s job creation through VEDP’s Virginia Jobs Investment Program at no cost to the business. The shipyard also will receive a federal Small Shipyard Grant from the U.S. Department of Transportation.
“When we started exploring the expansion of the shipyard, other states reached out to us about a possible relocation,” George Lyon, the shipyard’s president, said in a statement. “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.”
Subscribe to Virginia Business. Get our daily e-newsletter.

Related Stories

Trending

Sponsored Stories