LS Cable & System Ltd., a global company specializing in power and communication cables, has announced a $689 million investment to expand its operations in Chesapeake, Virginia. This move is expected to be the largest capital investment ever made in the Hampton Roads region and will result in the creation of over 430 new jobs.
The project, carried out through three LS C&S subsidiaries, aims to establish a domestic supply chain for magnetic copper wire and rare earth magnets. These materials are crucial for advanced defense systems such as the Javelin missile, F-35 fighter jet, nuclear submarines, and unmanned aerial vehicles. By sourcing these materials domestically, the initiative seeks to reduce reliance on Chinese suppliers and enhance national security.
Governor Glenn Youngkin commented on the announcement: “Thank you to LS Cable & System for choosing Virginia again. Today’s announcement demonstrates that Virginia is leading the nation in reshoring American manufacturing and securing the critical supply chains that power and protect our country. LS GreenLink has already brought hundreds of millions of dollars to Hampton Roads, and these three projects from LS Cable & System will build on that momentum. Now more than ever on the geopolitical stage, access to copper smelting and rare earth minerals tied to our targeting systems that our military uses need to be made here in this country. I’m proud that Virginia is partnering with LS C&S to strengthen American manufacturing, create great jobs, and build a stronger, more secure future for the Commonwealth and our nation.”
The new manufacturing complex will focus on copper rod production using recycled materials, magnet wire manufacturing for automotive and industrial applications, and rare-earth magnet production essential for electric motors and weapons systems.
This investment follows an earlier phase involving LS GreenLink USA’s cable manufacturing facility launched in April 2025. While separate from that project, this expansion strengthens LS C&S’s presence in both Virginia and the United States overall.
Secretary of Commerce and Trade Juan Pablo Segura stated: “With three exciting projects in Chesapeake, LS Cable & System is poised to transform America’s tech manufacturing supply chain. 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 government moves at the speed of business, big things can happen quickly.”
LS C&S President and CEO Bon-Kyu Koo added: “This investment represents an exciting step in our continuing growth in the United States. 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 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.”
Gisu Kim, Regional President of North America at LS C&S said: “The LS GreenLink project has been a major commitment for LS C&S, and this new investment builds directly on that foundation. It strengthens domestic production of critical components such as copper rod, magnet wire, and rare-earth magnets, vital to reinforcing supply chain resilience and advancing U.S. energy independence.”
Patrick Shim, Managing Director at LS C&S commented: “This investment represents much more than expanding our manufacturing footprint in Chesapeake. We are deepening our partnership with the Commonwealth of Virginia, the City of Chesapeake, and the Hampton Roads region as we build capabilities that strengthen U.S. energy leadership, secure critical supply chains, and support industries essential to the nation’s security and future.”
Founded in 1962 with over 6,500 employees worldwide across 40 subsidiaries in 17 countries, LS Cable & System continues its focus on innovation within energy transmission.
Douglas L. Smith from Hampton Roads Alliance said: “Congratulations to LS Cable & System and the entire LS Group on another major investment in Chesapeake… This investment aligns directly with the Hampton Roads Playbook which prioritizes defense energy aerospace logistics… projects like this further solidify Hampton Roads as a global energy leader.”
Chesapeake Mayor Rick West remarked: “Today’s announcement marks a major milestone for Chesapeake… The decision by LS Cable & System to build its new facilities in our community demonstrates… confidence they have not only in Chesapeake’s talented workforce… but also in our commitment to helping businesses succeed here…. brings $689 million… more than 400 high-paying jobs….”
Steven Wright from Chesapeake Economic Development stated: “LS Cable’s $689 million investment solidifies Chesapeake’s position as a premier destination for advanced manufacturing…. provide much-needed support for U.S. supply chains… bring skilled jobs… strengthen long-term industrial competitiveness….”
Stephen A. Edwards from Port of Virginia added: “The Port of Virginia is ready to support LS Cable & System’s strategic investment…. Advanced manufacturing facilities like LS Cable not only strengthen Virginia’s role… but will help accelerate innovation…. provide… efficiency consistency connectivity needed….”
To secure this project for Virginia,the Virginia Economic Development Partnership collaborated with local organizations including City of Chesapeake,Hampton Roads Alliance,and The Port of Virginia.Governor Youngkin approved $7.3 million from Commonwealth’s Opportunity Fund plus an additional performance-based grant worth $1.5 million under state incentives.LS C&S may also benefit from The Port Of Virginia Economic And Infrastructure Development Zone Grant Program.
Support for job creation will come through participation by the Virginia Talent Accelerator Program, which has been recognized as one of America’s top workforce training initiatives.This program provides customized training solutions at no cost as an incentive tied directly toward job creation efforts within qualified companies.
