Lyon Shipyard to invest $24 million to expand operations

Artist's rendering of Lyon Shipyard following planned upgrades

With the support of the Virginia Economic Development Partnership, Lyon Shipyard is to invest $24.4 million to expand its operations in the City of Norfolk, Va. The company will add a new marine travel lift and increase the footprint of its waterfront dry dock.

According to the office of Virginia Gov. Ralph Northam, Virginia successfully competed with North Carolina for the project, which will create 119 new jobs.

The Virginia Economic Development Partnership worked with the City of Norfolk to secure the project for Virginia and will support Lyon Shipyard’s job creation through the Virginia Jobs Investment Program (VJIP), which provides consultative services and funding to companies creating new jobs in order to support employee recruitment and training activities. As a business incentive supporting economic development, VJIP reduces the human resource costs of new and expanding companies.

VJIP is state-funded, demonstrating Virginia’s commitment to enhancing job opportunities for citizens. The company is also eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development.

Lyon Shipyard will also receive a 2021 Small Shipyard Grant from MARAD worth $958,695.

“When we started exploring the expansion of the shipyard, other states reached out to us about a possible relocation,” said George Lyon, president of Lyon Shipyard. “Due to the resources here in Virginia and the willingness of the city and the Commonwealth to help us with our plans, we came to the realization that Virginia was the place for Lyon Shipyard. We are excited to continue our story here in Norfolk.”

Established in 1928, Lyon Shipyard has over 93 years of continuous service in ship repair and industrial service. Lyon Shipyard has two facilities in Norfolk located on over 30 acres of prime waterfront property along the eastern branch of the Elizabeth River. The company supplies commercial and government customers with services including marine electronics repair, barge repair, and pier side repairs, as well as hauling vessels out of the water for underwater repairs to equipment such as propellers, tail shafts, and rudders.

The company’s commercial customers include tug and barge operators, dredging and marine construction contractors, ferry and cruise ship operators, research vessels, and commercial fishing companies.

Lyon’s government customers include the U.S. Navy, U.S. Army, the Coast Guard, Military Sealift Command, and MARAD.

Recently awarded contracts include an $8,077,424 award to provide the management, technical, procurement, production, testing and quality assurance necessary to plan, prepare and execute all maintenance, repair, and alterations required to complete the docking phased maintenance availability onboard the USNS Hunter (TSV-3).