DECEMBER 18, 2015 — Virginia Governor Terry McAuliffe announced today that Colonna's Shipyard, Inc. will invest over $30 million to expand its operation in the City of Norfolk, VA, creating 51 new jobs.
The company will add a larger dry dock for working on today's larger ships, and also dredge and improve the channel and bulkhead.
Colonna's Shipyard, located in the historic Berkley section of Norfolk, is the oldest continuous family-owned and operated private shipyard in the United States.
"This major investment by one of Virginia's oldest businesses will expand capacity and improve the maritime infrastructure in Hampton Roads-a significant win for Norfolk and for the Commonwealth," said Governor McAuliffe. "Colonna's expansion to grow and diversify is an important project in the marine industry and is another step forward in our efforts to build a new Virginia economy."
"Colonna's Shipyard has been a longstanding corporate partner in the Commonwealth, and the creation of more new jobs is great news for Norfolk and the region," said Secretary of Commerce and Trade Maurice Jones. "This significant expansion is a another great testament to the outstanding talent, infrastructure and quality of life in Hampton Roads, an east coast gateway to the global economy."
Founded in 1875 by Charles J. Colonna, Colonna's Shipyard today occupies over 100 acres of land, with water access to over 3,000 feet of vessel/boat berthing space and lift capacity to accommodate all vessels up to 14,000 tons. It also has a marine travel lift capacity of 1,000 metric tons, the largest in the United States.
"The 140-year relationship with the community, the talented employees living in this area and the support received from the City of Norfolk and the Commonwealth of Virginia made Norfolk the right choice for Colonna's to pursue the necessary capital improvements to allow us to expand our dry dock operation," said Tom Godfrey, Colonna's Shipyard, Inc. CEO. "This expansion will allow Colonna's to continue to provide quality services to both commercial and government customers throughout the region."
The Virginia Economic Development Partnership (VEDP) worked with the City of Norfolk to secure the project for Virginia.
Governor McAuliffe approved a $200,000 grant from the Commonwealth's Opportunity Fund to assist Norfolk with the project. The Governor also approved a $250,000 performance-based grant from the Virginia Investment Partnership program, an incentive available to existing Virginia companies. The company is eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development. Additional funding and services to support the company's employee training activities will be provided through the Virginia Jobs Investment Program, administered by VEDP.