South Korean undersea cable manufacturer plans $680 million plant in Chesapeake

URLhttps://www.whro.org/business-growth/2024-07-09/so
Sourcewhro.org
Date Published07/09/2024

Additional Reshoring Information:

Company/Division name LS Greenlink
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Total number of jobs (added or to be added):330
Year reshoring announced:2024
Year reshoring implemented or to be implemented:2029
Domestically, the work will be done:In-house
Capital investment ($):680
Country(ies) from which reshored:Korea, South
City reshored to:Chesapeake
State(s) reshored to:VA
If relevant, work nearshored to:-
Industry(ies):Electrical Equipment, Appliances & Components
Product(s) reshoredsubmarine electrical cables
What domestic positive factors made reshoring more attractive?Government Incentives
Government Incentive dollar amount:$127 million
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