Virginia Governor Glenn Youngkin announced that France-based Framatome is to invest $49.4m to expand, modernise, and enhance its facilities in the City of Lynchburg to meet increased demand for servicing NPPs and developing solutions for advanced and small modular reactors (SMRs). Virginia competed with North Carolina and Pennsylvania for the project, which will create 515 new jobs.
“We are building the world’s leading nuclear energy hub right here in Virginia, thanks to the continued growth of industry leaders like Framatome,” said Youngkin. “The Commonwealth is implementing an All-of-the-Above Energy Plan to ensure abundant, reliable, affordable, and clean energy, and Framatome is key to increasing our workforce in this critical technology for our future. Virginia can set the standard when it comes to energy innovation and has a pipeline of world-class talent prepared to meet demand.”
Virginia Secretary of Commerce & Trade Caren Merrick said Framatome has been integral to Virginia’s economy for more than five decades. “Framatome’s constant innovations and advancements in nuclear energy indicate the opportunities in this industry, and we look forward to its future. This project will provide hundreds of high-paying jobs.”
Framatome CEO for North America Kathy Williams also noted that the greater Lynchburg region and the Commonwealth of Virginia have been Framatome’s North American base of operations for over a half-century. “Now, we’re strengthening our commitment to our home and our shared goal of safe, reliable, low carbon power generation,” she said. “Our extensive investments in facility expansion and modernisation, broadening our labour pool and escalating recruitment will help energise our community and align us with the Commonwealth of Virginia as catalysts in the transition to a clean energy future.”
The Virginia Economic Development Partnership (VEDP) worked with the City of Lynchburg to secure the project for Virginia. Governor Youngkin approved a $5m grant from the Commonwealth’s Opportunity Fund to assist the City of Lynchburg with the project. The company is eligible to receive state benefits from the Major Business Facility Job Tax Credit for new, full-time jobs created, as well as benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing &Community Development.
Megan Lucas, CEO & Chief Economic Development Officer of the Lynchburg Regional Business Alliance thanked the City of Lynchburg Office of Economic Development & Tourism for spearheading this project. “They, along with VEDP, were instrumental in working with Framatome to secure this expansion for our region. We are glad to support their work on behalf of the Lynchburg region and applaud Framatome for their decision to reinvest here,” she said.
Support for Framatome’s job creation will be provided through the Virginia Talent Accelerator Program, a workforce initiative created by VEDP in collaboration with the Virginia Community College System and other higher education partners, with funding support from the Governor’s administration and the Virginia General Assembly. Launched in 2019, the programme accelerates new facility start-ups through the direct delivery of recruitment and training services that are fully customised to a company’s unique products, processes, equipment, standards, and culture. All programme services are provided at no cost to qualified new and expanding companies as an incentive for job creation.
Image: Framatome's headquarters in Lynchburg, Virginia
