CHESAPEAKE, Va. (WAVY) — A roughly 70-story, $681 million facility coming to Chesapeake would be the tallest structure in Virginia.

The plant from LS GreenLink USA, Inc., which creates submarine power transmission cables for offshore wind projects, is set to be about 750,000 square feet in size, with one portion that’s roughly 70 stories tall (about 700 feet).

Officials say that would make it the tallest structure between Philadelphia and Charlotte. The current tallest building in Virginia is the Westin at Virginia Beach Town Center at 38 stories tall and 508 feet. The Washington Monument is about 555 feet tall.

So why so tall? Patrick Shim, the managing director for LS GreenLink, says the height is important because they want to assemble miles of cable at a time, and gravity naturally helps push the material down to make it tighter.

It’s set to be constructed on nearly 100 acres of brownfield (abandoned/underutilized land due to past industrial use) in the Paradise Creek area, just south of Portsmouth’s Cradock neighborhood.

Gov. Glenn Youngkin’s administration made the announcement on Tuesday in Chesapeake, alongside Chesapeake Mayor Rick West and others at the Hampton Roads Regional Building.

West called Tuesday’s economic development announcement the largest in the city’s history.

“I think that’s the coolest part of the whole thing. I know the product is amazing. It’s definitely going to be helpful to offshore wind, and having people have jobs is awesome, but a building that tall in Hampton Roads, particularly Chesapeake of all the cities.”

The facility is expected to create about 338 new full-time jobs, Youngkin’s office says.

“LS GreenLink’s investment in Virginia will showcase the Commonwealth as a leader in offshore wind industry manufacturing,” Gov. Youngkin said. “LS GreenLink has recognized that Virginia has the skilled talent, world-class logistics location, and business environment that will allow it to serve its growing global customers for submarine power cables.” 

LS is a South Korean-based company and one of the largest cable manufacturers in the world. Its CEO says the new Chesapeake facility would be the largest high voltage direct current submarine cable manufacturing facility in the world, and will help them be “at the forefront of the industry.”

LS received $100 million in tax credits from the Inflation Reduction Act to help construct the facility, something Virginia Senators Tim Kaine and Mark Warner, as well as Rep. Bobby Scott (D-3rd District) touted on Tuesday. LS also received a $13.2 million grant from the commonwealth for the project.

“The Inflation Reduction Act continues to deliver. Thanks to this once-in-a-generation legislation, the clean energy industry is growing, and Virginia is benefiting,” Warner said. “This LS GreenLink facility will help support the burgeoning U.S. offshore wind industry, bring hundreds of jobs to Hampton Roads, and spur investment the region.”

“I’m thrilled hundreds of clean energy manufacturing jobs are headed to Virginia thanks to the Inflation Reduction Act we passed by one vote,” said Kaine. “LS GreenLink’s decision to build a facility in Chesapeake is a testament to Hampton Roads’ talented workforce and strong community. This new facility is a win for workers, our economy, and all who rely on clean energy.” 

“Hampton Roads is leading the way in offshore wind production. Thanks to the Inflation Reduction Act’s inclusion of the Offshore Wind Manufacturing Act, which I co-led with my colleagues, LS GreenLink will be able to utilize tax credits for projects that expand clean energy,” Scott added. “Their investment in this new facility in Chesapeake will play a key role in building the domestic green energy supply chain. This investment in Hampton Roads is bringing high-paying jobs to our local economy and boosting our community’s transition towards clean, affordable energy.”

The news comes as the wheels are turning for two major wind energy projects off the coast. Just yesterday, Dominion Energy announced it was acquiring a lease for a 40,000-acre offshore wind project off the coast of the Outer Banks. They’re also behind a $9.8 billion offshore wind project just 25 miles up the coast off Virginia Beach.

Chesapeake beat out 15 other locations across the country for the project, including at Fairwinds Landing in Norfolk. LS GreenLink though wanted to own the property, so they opted for Chesapeake.

Look for more about the announcement coming up from WAVY’s Brett Hall.