France-Based Framatome Expands Lynchburg, Virginia, Operations

URLhttps://www.areadevelopment.com/newsItems/12-15-20
SourceArea Development
Date Published12/15/2023

Additional Reshoring Information:

Company/Division name Framatome
Parent companyÉlectricité de France, Mitsubishi, Assystem
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Total number of jobs (added or to be added):515
Year reshoring announced:2023
Capital investment ($):49.4
Country(ies) from which reshored:France
City reshored to:Lynchburg
State(s) reshored to:VA
If relevant, work nearshored to:-
Industry(ies):Chemicals, Electrical Equipment, Appliances & Components, Machinery
Product(s) reshoredcomponents, fuel, controls for nuclear power
What non-domestic negative factors made offshoring less attractive?Green considerations
What domestic positive factors made reshoring more attractive?Govt. Policy and subsidies, Proximity to customers/market, Skilled workforce availability/training, Commonwealth’s Opportunity Fund, Job Tax Credits
Government Incentive dollar amount:$5mil
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