According to wtkr.com, LS Cable & System executives detailed plans for a $689 million manufacturing complex in Chesapeake, Virginia, designed to establish a China-free supply chain for rare earth magnets used in U.S. national defense systems.
Strategic Supply Chain Shift
Managing Director Patrick Shim emphasized that the facility will produce rare earth magnets critical for advanced fighter jets, guided missiles, and other weapons systems — with raw materials sourced exclusively from Australia.
“Our magnets will be not only made in the U.S., but our underlying raw materials are coming from Australia,”
Shim stated during a media briefing. He added:
“Those magnets are very vitally important for national security because they are used for advanced fighter jets, guided missiles, a lot of weapons systems.”
The project represents the largest private capital investment in Hampton Roads history.
Site, Scale, and Jobs
The 86-acre facility at 802 Yupo Court will host three integrated operations: copper rod production, magnet wire manufacturing for electric motors, and rare earth magnet production. It is projected to create 430 jobs, bringing LS Cable & System’s total regional workforce to nearly 800 employees when combined with its separate LS GreenLink facility. That facility — under construction near the Jordan Bridge — is on schedule for completion by late 2027 and will generate 330 additional jobs.
Timeline and Environmental Commitments
LS Cable & System aims to close on the Greenbrier property by the end of 2026, with construction beginning immediately thereafter and full operations expected by 2029 or 2030. Environmental assessments of the former Mitsubishi Chemical site have been completed. Shim pledged minimal site disturbance:
“We’re gonna keep as much trees as we can, and we’ll have the buffer lines all around… So we’re gonna try to maintain what’s there as much as we can. It’s a big site. We’re going to try to touch as little as we can.”
Chesapeake Economic Development Director Steven Wright noted the location’s industrial zoning history and prior consideration for a Volvo manufacturing facility in the 1980s.
Economic and Regional Impact
Combined, the Greenbrier and GreenLink projects represent nearly $1.4 billion in private investment across Chesapeake. Together, they position LS Cable & System to become one of the largest property tax contributors in the Hampton Roads region. Wright underscored the broader benefit:
“It’s close to 800 jobs, and it’s gonna be all types of jobs… we’ll have everyone from accounting to IT to HR to marketing and all the way down to security.”
The investment is expected to generate significant city tax revenue and strengthen regional workforce development across multiple sectors.
Source: wtkr.com
Compiled from international media by the SCI.AI editorial team.
