Virginia giving multibillion-dollar Swiss company $1.5M for plant expansion

A multibillion-dollar Swiss industrial mining company is getting $1.5 million from Virginia toward a $72.3 million plant expansion at its Newport News-Hampton facility.

The company is Liebherr Mining Equipment, which reported a record $15 billion in revenues in 2023, and, you would think, wouldn’t need $1.5 million from the state to expand at its Virginia site, but you know, if we’re going to offer, they’re not going to not take it.

“We are excited to expand our mining equipment facility in Newport News, Virginia, USA, to better support Liebherr Mining customers around the world,” said Liebherr Mining Equipment Newport News Co. Managing Director Cort Reiser. “We’re thankful for the partnerships with the Cities of Hampton and Newport News and the Commonwealth of Virginia that have greatly enriched our operations and enabled Liebherr to bring 175 new jobs and investment to the region.”

The Liebherr Mining Equipment Virginia facility manufactures large, industrial-scale mining trucks used to transport vast quantities of material at open-cast mining operations.

“We thank Liebherr, an international leader in mining equipment manufacturing, for its commitment to the Commonwealth of Virginia,” said Gov. Glenn Youngkin, who approved a $1.5 million grant from the Commonwealth’s Opportunity Fund to assist with the project.

According to a press release from the governor’s office, Liebherr Mining Equipment is eligible to receive benefits from The Port of Virginia Economic and Infrastructure Development Zone Grant Program.

Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.

“Liebherr has recognized that Virginia is strategically located to serve as its global production headquarters for mining trucks and service customers within the United States and across the world. We celebrate the community partnership between Liebherr, the City of Newport News, and the City of Hampton that made this expansion possible,” Youngkin said.

“We are grateful for Liebherr’s decision to expand in Newport News and Hampton,” said Newport News Mayor Phillip Jones. “The company’s spirit of innovation, its $72 million investment in advanced technologies, and the collaborative partnership of the two cities to assist Liebherr in increasing its capacity will positively impact our region’s workforce and economy for years to come.”

“Hampton is thankful for its 50-plus-year collaborative relationship with Liebherr Mining Equipment and the City of Newport News,” said Hampton Mayor Donnie Tuck. “We are excited that Liebherr has made the strategic decision to invest more than $72 million and create 175 new jobs to manufacture its next generation mining equipment in our cities. We look forward to Liebherr’s continued strong presence in our communities and the Hampton Roads region for many years.”