Chesapeake Mayor Touts $1.5B in Economic Investments

LS Cable & Systems' two major projects mark the largest economic investment in Hampton Roads history.

Apr. 9, 2026 at 8:51pm

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A vibrant abstract illustration composed of overlapping triangles and rectangles in shades of blue, red, and yellow, conceptually representing the significant economic investment and expansion happening in Chesapeake.A bold geometric illustration captures the massive scale of economic growth transforming Chesapeake and the broader Hampton Roads region.Chesapeake Today

During his annual State of the City address, Chesapeake Mayor Rick West highlighted significant economic growth in the city, including a $1.5 billion investment from LS Cable & Systems for two manufacturing projects that will create 750 new jobs. West also discussed USAA's decision to bring jobs to the area and emphasized the importance of regional cooperation among Hampton Roads cities.

Why it matters

Chesapeake's economic momentum, driven by major investments like those from LS Cable & Systems, positions the city as a key economic driver in the Hampton Roads region. The mayor's focus on regional collaboration over competition underscores the interconnected nature of the area's economic success.

The details

LS Cable & Systems is investing $681 million in a cable manufacturing facility near the Jordan Bridge and an additional $689 million in a second project in the Greenbrier area focused on electric vehicle components and military applications, including copper recycling, magnet wire production, and rare earth magnet manufacturing. The company's combined $1.5 billion investment represents the largest economic investment in Hampton Roads history. USAA is also bringing jobs to the Chesapeake area as part of the city's broader economic growth.

  • Construction on the LS Cable & Systems' $681 million cable manufacturing facility began in April 2026 and is scheduled for full operation by early 2028.
  • LS Cable & Systems announced the $689 million second phase of its investment in Chesapeake in December 2025.

The players

Mayor Rick West

The mayor of Chesapeake, Virginia, who delivered the annual State of the City address highlighting the city's economic growth and regional collaboration efforts.

LS Cable & Systems

A Korean company that is investing a combined $1.5 billion in two major manufacturing projects in Chesapeake, marking the largest economic investment in Hampton Roads history.

Patrick Shim

The managing director of LS Cable & Systems, who provided details on the company's two projects during the State of the City address.

USAA

A financial services company that is bringing jobs to the Chesapeake area as part of the city's broader economic growth.

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What they’re saying

“We have two exciting projects happening in Virginia, in Chesapeake, Virginia. One is $681 million cable manufacturing facility. The construction is going very well. We're on schedule, a little over budget, but we're on schedule.”

— Patrick Shim, Managing Director, LS Cable & Systems

“I think one of the things that our region is all has, has been missing and that our city has been missing is attracting enough industry to bring well-paying jobs. And so I'm very excited about what's happening in Chesapeake and throughout our region.”

— Mayor Rick West

“Well, you know, all of us, I don't care what city you live in or what city you are mayor in, we're all dependent upon one another, and if one fails, we all fail. If one succeeds, we all succeed.”

— Mayor Rick West

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

Chesapeake's economic growth, driven by major investments like those from LS Cable & Systems, highlights the city's role as a key economic driver in the Hampton Roads region. The mayor's emphasis on regional cooperation over competition underscores the interconnected nature of the area's success and the potential for further economic development through collaborative efforts.