CVOW is groundbreaking in many ways. But its true impacts are much larger. This project positions Hampton Roads and Virginia as national leaders in offshore wind. As a result, it is transforming the state and local economy by attracting economic development opportunities and creating hundreds of good-paying clean energy jobs, millions in tax revenues and hundreds of millions in economic benefits.
Hampton Roads is a natural fit to become a hub for offshore wind development, with best-in-class port infrastructure, a centrally located and capable maritime workforce and a supportive business climate.
The Hampton Roads Alliance commissioned Virginia-based Mangum Economics to perform an offshore wind economic impact analysis. According to the study, during construction, the CVOW project could create 900 direct and indirect Virginia jobs annually — 60% in the Hampton Roads region — and generate $57 million in pay and benefits, $143 million in economic benefits and approximately $5 million in local and state tax revenue.
The analysis estimates that when fully constructed in 2026, operation of CVOW could create about 1,100 direct and indirect jobs in Hampton Roads, as well as generate $82 million in pay and benefits, $210
million in economic benefits annually and approximately $11 million annually in local and state tax revenue.
Making Virginia a Leader in Renewable Energy
Investing in the Power of Wind
Energy to power up to 660,000 homes, with zero emissions and fuel costs
Critical in meeting Virginia’s renewable and clean energy commitments
Building a Clean Energy Economy
Up to $143 million in economic benefits each year during construction
Up to $210 million in economic benefits each year during operation
Creating Clean Energy Jobs
900 jobs each year during construction
1,100 jobs each year during operation
Hampton Roads and Virginia are leading the new clean energy economy and are seeing the many economic benefits that come with it.
The first Jones Act compliant offshore wind turbine installation vessel from Dominion Energy.
First Offshore Wind Installation Vessel
In May 2020, Dominion Energy announced development of the first Jones Act-compliant offshore wind installation vessel, Charybdis. Charybdis will be home-ported in Hampton Roads with a crew capacity of approximately 119 and support the construction of offshore wind projects along the East Coast.
Portsmouth Marine Terminal Staging Area
On August 25, 2021, Dominion Energy announced an agreement to lease space at the Portsmouth Marine Terminal to serve as a staging and pre-assembly area for CVOW. The lease agreement is valued at nearly $4.4 million annually and will support positions for longshoremen, stevedores, technicians, crane operators, electricians, welders, quality inspectors and other building and construction trade jobs.
Local Union Jobs
On September 16, 2021, Dominion Energy announced a partnership with the North America's Building Trades Unions (NABTU) to identify opportunities to utilize union labor on CVOW. Since the project will require skilled and qualified workers in Hampton Roads, the agreement also includes commitments to utilize local workers; the hiring, apprenticeship, and training of veterans; and the use of workers from historically economically disadvantaged communities.
Hampton Roads Blade Facility
On October 25, 2021, Siemens Gamesa Renewable Energy announced an agreement to lease space at the Portsmouth Marine Terminal in order to establish the first offshore wind turbine blade finishing facility in the United States. The facility, combined with its operations and maintenance activities, will create a total of 310 new jobs.
CVOW also creates opportunities for local businesses to be suppliers in the project. In fact, more than 200 people attended a recent virtual roundtable held for businesses in Hampton Roads to learn how to get involved.
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