USNIC Key Mover Update International Nuclear Energy Leader to Expand Facility in Virginia

December 14, 2023

USNIC Key Mover Update International Nuclear Energy Leader to Expand Facility in Virginia

December 14, 2023

RICHMOND, VA – Governor Glenn Youngkin today announced that Framatome, an international leader in nuclear energy, will invest $49.4 million to expand, modernize, and enhance its facilities in the City of Lynchburg to meet increased demand for servicing existing nuclear power plants and developing solutions for advanced and small modular reactors. Virginia successfully 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 Governor Glenn 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.”

“Framatome has been integral to Virginia’s economy for more than five decades, and we are grateful for this vote of confidence as the company reaffirms its commitment to Virginia with this major expansion in Lynchburg,” said Secretary of Commerce and Trade Caren Merrick. “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, and we encourage interested applicants to visit to apply.”

“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,” said Kathy Williams, CEO of Framatome North America. “Our extensive investments in facility expansion and modernization, broadening our labor pool and escalating recruitment will help energize our community and align us with the Commonwealth of Virginia as catalysts in the transition to a clean energy future.”

“The presence and growth of Framatome in the City of Lynchburg has left an impressive and undeniable mark on our community and our economy,” said Stephanie T. Reed, Mayor of the City of Lynchburg. “The City is proud to champion this major expansion, working together to equip and employ our residents, attract investment, and chart the course for a brighter future for all of Lynchburg.”

“Nuclear energy is a cornerstone of the City of Lynchburg’s economy. We take great pride in championing Framatome's enduring dedication to our city, home to the company for more than 50 years,” said John Stone, chair of the Economic Development Authority of the City of Lynchburg. “Framatome’s continued growth supports innovative energy solutions, and their unwavering expertise drives a skilled workforce. Together, we will continue to collaborate with Framatome, supporting their expansion and amplifying their talent attraction and workforce development initiatives.”

“I’d like to say a huge thank you to Marjette Upshur and the entire team at the City of Lynchburg Office of Economic Development & Tourism for spearheading this project,” said Megan Lucas, CEO & Chief Economic Development Officer of the Lynchburg Regional Business Alliance. “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.”

“Energy is the most important economic sector for Central Virginia. Framatome's decision to add an additional 515 jobs and invest nearly $50 million will provide so many great opportunities for our citizens and further cement our area's reputation as the energy leader of the East Coast,” said Senator Steve Newman. “I also want to thank the Governor for his focus on fueling the growth of energy in Virginia and his efforts to bring this specific economic development expansion to our region.”

“Framatome’s decision to expand its facility in the City of Lynchburg is a testament to the Commonwealth’s highly skilled workforce, supportive manufacturing environment, and strong economy,” said Delegate Wendell Walker. “Their reinvestment in its operations right here in Central Virginia will provide important opportunities for our region’s workforce, creating over 500 jobs and stimulating economic activity in our region. I am grateful for Framatome’s continued confidence in the City of Lynchburg and look forward to the new opportunities this will bring to Virginia.”

Framatome is an international leader in nuclear energy recognized for its innovative, digital, and value-added solutions for the global nuclear fleet. With worldwide expertise and a proven track record for reliability and performance, the company designs, services, and installs components, fuel, and instrumentation and control systems for nuclear power plants. Its more than 18,000 employees work every day to help Framatome’s customers supply ever cleaner, safer, and more economical low-carbon energy.

The Virginia Economic Development Partnership worked with the City of Lynchburg to secure the project for Virginia. Governor Youngkin approved a $5 million grant from the Commonwealth’s Opportunity Fund to assist the City of Lynchburg with this 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 and Community Development.

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 program accelerates new facility start-ups through the direct delivery of recruitment and training services that are fully customized to a company’s unique products, processes, equipment, standards, and culture. All program services are provided at no cost to qualified new and expanding companies as an incentive for job creation.

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