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Hampton Roads News

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Colonna's Shipyard Expansion

Published: December 18, 2015

Colonna's Shipyard, Inc., a full-service ship repair facility and home of America's largest marine travel lift, will invest over $30 million to expand its operation in the City of Norfolk, creating 51 new jobs.

The company will add a larger dry dock for working large ships, and also dredge and improve the channel and bulkhead. The oldest continuous family-owned and operated private shipyard in the United States, Colonna's Shipyard is located in the historic Berkley section of Norfolk.

The Virginia Economic Development Partnership (VEDP) worked with the City of Norfolk to secure the project for Virginia. Governor McAuliffe approved a $200,000 grant from the Commonwealth's Opportunity Fund to assist Norfolk with the project. The Governor also approved a $250,000 performance-based grant from the Virginia Investment Partnership program, an incentive available to existing Virginia companies.

The company is eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development. Additional funding and services to support the company's employee training activities will be provided through the Virginia Jobs Investment Program, administered by VEDP.

source: City of Norfolk