Virginia Maritime Association’s Post

Economic development is a journey, requiring a team approach by all involved. The most successful opportunities forge lasting relationships that not only grow the economy; they enhance the community.   Sometimes the most rewarding journeys start with previous dreams not realized. For example, just over two years ago, a $267 million project was announced for the same site that LS GreenLink will be located. The 2022 project did not come to fruition due to factors not related to the site. The strategic location has been waiting for decades, through a variety of ownership scenarios, for the optimum prospect. Perseverance is paying off for the Chesapeake Economic Development team.    In terms of team approach, LS GreenLink garnered bi-partisan Congressional support to be awarded $99.06M from the U.S. Department of Energy for Qualifying Advanced Energy Project Credits (48C).  Under Douglas L. Smith’s leadership at the Hampton Roads Alliance, Steve Harrison and Matt Smith aided in the 48C application process as well as other ways.  By law, 48C provides investment tax credit up to 30% of qualified investments for certified qualifying advanced energy projects that meet prevailing wage and apprenticeship requirements. https://lnkd.in/ekUSCfvx . Also, several business leaders from across the region were, and continue to be, instrumental in welcoming LS GreenLink in addition to its own team doing tremendous work. While we are very excited about the announcement, we do not quantify economic development announcements in the City of Chesapeake. We measure successes in terms of actual businesses served as well as expanded and new industry once they are in the ground, in the air or on the water doing business.  For LS GreenLink, it will be all three: land, sea and air. Keeping heads down on the outcome, while honoring the entitlement process, keeps the City of Chesapeake focused on diligent follow-through and not resting until a certificate of occupancy is in hand and the business is fully up and running.   Stimulating commerce throughout the region and Virginia is meaningful work.  We believe the region and Commonwealth are stronger together; that the individual strengths of the cities, counties and towns that comprise the Hampton Roads Planning District Commission should be celebrated for their uniqueness. We aspire for cohesiveness that bonds, and nothing bonds us more in this region than what we are named after: Hampton Roads - -the body of water at the confluence of our localities. Economic development requires a tremendous amount of commitment and talent. Major kudos to Steven Wright, Preston Wilhelm and (now City Treasurer) Ben White and the team at Chesapeake Economic Development to get to this frontier. We believe LS Cable & System's new investment will be one of the most impactful opportunities over time. We are thankful for the relationship being developed and excited for them to be part of our community.

Join NYSERDA in partnership with the Oceantic Network and New Jersey Economic Development Authority (NJEDA) Thursday, June 27 from 10 a.m. to 4 p.m. for Offshore Wind Ready: Manufacturing. This virtual one-day educational program is designed for manufacturing businesses who want to learn more about specific opportunities in the growing U.S. offshore wind industry. Learn about project development, a project’s supply chain component parts, and how to identify where your business fits in. Offshore Wind Ready: Manufacturing helps you determine if this growing industry is a good fit for your business. https://bit.ly/4bbut5E

Last week the Department of Enterprise, Trade and Employment launched their "Powering prosperity - Ireland's offshore wind strategy". The regional enterprise plans (REP) are noted as: "The REP structures in relevant regions are well placed to facilitate the collaborative work and implementation of objectives and actions necessary at regional level to ensure that the maximum economic benefit associated with our 37GW ORE target is experienced throughout Ireland." https://lnkd.in/dqcYaJ_K

🚨☎️ Calling all offshore wind supply chain companies!! ⌛ Our Confidence #Survey is back for the third year running! 👉🔗https://hubs.la/Q02PY1Jr0 We have launched this survey to understand more about the confidence of companies operating in or moving towards operating in the UK’s #offshorewind supply chain. To do this, we are reaching out to all #supplychain companies to gain valuable insight and understanding. The information we collect from this survey will be used to shape future supply chain support programmes and provide evidence to policy makers, developers and funders on what is needed to ensure we maximise the UK’s growth opportunity in this sector. Completion should take less than 10 minutes and all responses are anonymous: https://hubs.la/Q02PY1Jr0

First funding round now open for applications The Crown Estate application window is now open for an initial £10 million first round of funding that will be specifically aimed at UK projects that could support floating offshore wind in the Celtic Sea. The application process will close on 30 July 2024. Successful projects will be announced from October 2024 following assessment of applications, negotiation of funding and commitment agreements and necessary approvals. The accelerator will provide matched funding of up to £1m per project to UK supply chain projects to help them undertake the early-stage development works necessary to get them “investment-ready”. We will also be asking for an option to participate in the capital investment phase of projects that are taken forward. A further £40 million has been earmarked that could potentially be deployed to support UK projects that meet opportunities identified by the Industrial Growth Plan, which sets out how to triple offshore wind manufacturing capacity over the next 10 years. Make an application 👇 https://lnkd.in/eK9CxfRu #socsea24 #maritimeconnection #floatingoffshorewind #offshore #smes #ISeaSMEs

First funding round now open for applications The Crown Estate application window is now open for an initial £10 million first round of funding that will be specifically aimed at UK projects that could support floating offshore wind in the Celtic Sea. The application process will close on 30 July 2024. Successful projects will be announced from October 2024 following assessment of applications, negotiation of funding and commitment agreements and necessary approvals. The accelerator will provide matched funding of up to £1m per project to UK supply chain projects to help them undertake the early-stage development works necessary to get them “investment-ready”. We will also be asking for an option to participate in the capital investment phase of projects that are taken forward. A further £40 million has been earmarked that could potentially be deployed to support UK projects that meet opportunities identified by the Industrial Growth Plan, which sets out how to triple offshore wind manufacturing capacity over the next 10 years. Make an application 👇 https://lnkd.in/eK9CxfRu #socsea24 #maritimeconnection #floatingoffshorewind #offshore #smes #ISeaSMEs

The aim of the collaboration is to explore whether the port could be a suitable harbour for the logistics, installation, loading, operations and maintenance (O&M) activities relating to RWE’s planned #offshorewind projects in the Baltic Sea. #renewableenergy

Another slowwwwww week in U.S. Offshore Wind (version 3/22) 💡 Extremely favorable Energy Community guidance should help almost all projects qualify for 10% bonus ITC, and tangentially giving more support for our ports ⚡ Final Dept. Of Energy Atlantic OSW Tx Study and Action Plan (cross those RTOs!) 🔬 Env. Reviews started for Vineyard Northeast (2.6 GW) and Atlantic Shores North (2.3 GW) 💰 Proposed sale notice (aka we’re about to auction) for 400k acres in the Gulf of Mexico 📫 MOST IMPORTANTLY – Oceantic launched our new monthly members-only “Policy Pulse.” About 1.5k words recapping the previous month’s advancements + supply chain wins (send complaints or suggestions!)

The Oceantic Network's has released a report, "Suppliers’ Guide to Success: Smart Scaling for the US West Coast Floating Wind Market," which stresses the need for substantial investments in port and transmission infrastructure to achieve California and Oregon's offshore wind objectives. The report advises policymakers to focus on key actions such as prioritizing infrastructure investments, structuring offtake awards to ensure project deliverability, and establishing a long-term procurement schedule for offshore wind power. John Begala from Oceantic Network emphasized the potential benefits of job creation, economic development, and clean energy provision if these opportunities are harnessed. The report draws on lessons from offshore wind policies on the East Coast and globally to avoid pitfalls in the West Coast's deployment. It also details the current market landscape and the progress made to date. This report was created with input from the Network’s West Coast Supplier Council, which includes companies like Aker Solutions, Burns & McDonnell, and Vestas, addressing the specific needs and development of the region’s offshore wind sector and supply chain. Read the full report here: https://lnkd.in/dEiQPnjQ https://lnkd.in/ePqAmpSt #OffshoreWind #WestCoast #OdinGlobal

A model worth considering for Atlantic Canadian ports which are currently serving or planning to serve/host the offshore wind sector.