S23 Holdings Announces 414 Job Expansion in Newport News
RICHMOND, VA — S23 Holdings, a leading maritime industrial investment company specializing in ship repair, fabrication, and marine services, will invest $180 million to significantly expand its operations in the City of Newport News, creating 414 new jobs. The investment will transform the company’s River Port facility into a substantially expanded ship repair and maritime manufacturing complex, anchored by the installation of a new state-of-the-art shiplift system and supporting infrastructure. The project will also add approximately 48,000 square feet of production space and expand the facility’s fabrication, machining, blasting and coating, and vessel repair capabilities, positioning S23 to support larger and more complex projects for the U.S. Navy and commercial maritime customers. East Coast Repair & Fabrication, LLC (ECR), an S23 affiliate and River Port’s anchor tenant, has a long-standing record of successfully executing complex maintenance, repair, and modernization work for the U.S. Navy. ECR will operate the new shiplift, building on that experience to support larger vessels and more complex Navy availabilities at the expanded facility.
“The River Port investment represents a major commitment to the future of S23, East Coast Repair & Fabrication, and its affiliated companies, to our ability to support the U.S. Navy, and to the continued growth of Hampton Road’s maritime, manufacturing, and industrial capabilities,” said S23 Holdings CEO Jorge Rivera. “The addition of the OmniLift shiplift and supporting infrastructure will allow us to take on larger and more complex ship repair projects, while also enabling a significant expansion of our naval ship module fabrication capabilities to support the Navy’s evolving new-construction demands. This investment positions us to contribute in a much greater way to both ship repair and new ship construction, while creating new opportunities for our employees and the broader maritime workforce. We are grateful for the partnership and support of the City of Newport News and the Commonwealth of Virginia as we continue building the capabilities and capacity needed to support the U.S. Navy and our nation’s maritime industrial base.”
“S23 Holdings’ decision to expand in Newport News with more than 400 new jobs and $180 million in capital investment reinforces Virginia’s leadership in maritime operations, advanced manufacturing, and aerospace and defense,” said VEDP President and CEO Jason El Koubi. “The Hampton Roads region offers the skilled workforce, strategic location, and industry expertise companies need to succeed and grow. We are proud to support S23’s continued investment in the Commonwealth, which will strengthen a critical industry cluster and create new opportunities for Virginians.”
“S23 Holdings' continued expansion in Newport News demonstrates the competitive advantages that make Virginia a leader in maritime manufacturing and defense-related industries,” said Secretary of Commerce and Trade Carrie Chenery. “This project combines transformative investment with high-quality job creation, enhancing critical ship repair, fabrication, and production talent. Virginia's skilled workforce, strategic maritime assets, and strong network of economic development partners continue to attract thriving companies like S23 looking to scale and succeed.”
Founded in 2019, S23 Holdings and its affiliated companies provide a broad range of maritime industrial services, including ship repair, metal fabrication, welding, coatings, and modular manufacturing for defense and commercial customers. The company’s operations span facilities in Jacksonville, Fla., Chula Vista, Calif., and Newport News, Va. This expansion builds on S23’s continued investment in Newport News, including a $64.4 million investment announced in 2020 that created 332 new jobs. The expansion will also strengthen the company’s workforce-development partnership with the Hampton Roads Maritime Training Academy (HRMTA), a nonprofit organization that will provide hands-on training for careers in ship repair and maritime manufacturing.
“We are proud that S23 continues to invest in Newport News, deepening its commitment to our workforce, our maritime industry and our nation’s defense,” said Newport News Mayor Phillip Jones. “This expansion more than doubles the company’s initial investment and reflects both the success it has achieved here and its confidence in our community’s future. This investment reinforces Newport News’ position as a center for the maritime industry and a city where businesses can grow, succeed and thrive.”
“S23 Holdings’ investment is an important step in the right direction for Hampton Roads as we continue working to expand job opportunities for our constituents,” said Senator Mamie E. Locke. “This investment will further strengthen our maritime industry while inspiring future generations to invest and contribute to our workforce.”
The Virginia Economic Development Partnership worked with the City of Newport News to secure the project for Virginia. Governor Abigail Spanberger approved a $2 million grant from the Commonwealth’s Opportunity Fund to assist Newport News with the project. The Governor also approved a performance-based grant of $2 million from the Virginia Investment Performance Grant, an incentive that encourages continued capital investment by existing Virginia companies. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.