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S23 Holdings Invests $64.4 Million in Newport News

s23 holdings

S23 Holdings, LLC, a marine repair and construction company, is investing $64.4 million to build a corporate and industrial campus in Newport News. The new facility, proposed for a portion of 1511 Harbor Lane, will serve as a repair and fabrication facility supporting S23’s ship repair operations at 1201 Terminal Avenue.

The $64.4 million investment is supported by $2,677,800 in incentives from the Commonwealth’s Development Opportunity Fund, Virginia Jobs Investment Partnership, the Economic Development Access Program and the State Enterprise Zone Program. Further, a $1.1 million local Enterprise Zone grant will be used for onsite and off-site infrastructure improvements and site planning, to ensure connectivity between the two sites, as well as overall connectivity to the neighborhood.

This project aligns with the goals for the Choice Neighborhood Initiative, creating 322 new jobs, hiring from within the community, offering substantial employee training and expanding opportunities for returning and new employees.