S23 Holdings to Invest $64.4 Million in Newport News

S23 Holdings, LLC, a marine repair and construction company, is investing $64.4 million to build a corporate and industrial campus in Newport News. Secretary of Commerce and Trade Brian Ball, Congressman Bobby Scott and State Senator Monty Mason were in Newport News on Tuesday morning as Governor Ralph Northam announced the project. In addition to its investment, S23 and its affiliates, including East Coast Repair and Fabrication, plan to create 332 new jobs. Governor Northam also announced that he has approved a $664,000 grant from the Commonwealth’s Opportunity Fund to assist the City with the project.

“We are excited to welcome S23 and its affiliate East Coast Repair and Fabrication to Newport News,” said Mayor of the City of Newport News McKinley L. Price. “The collaboration between VEDP, the Newport News Economic Development Authority, and the Newport News Redevelopment and Housing Authority, has paved the way for S23 and its affiliates to expand upon the rich maritime heritage in our city and provide meaningful opportunities for our citizens. This project reflects the core values of our city and the vision for transformation in the Southeast Community.”

More information is available in the Governor’s news release.