Framatome plans $49.4M expansion, creating 515 jobs

Framatome, a French nuclear power company with its United States headquarters in Lynchburg, will invest $49.4 million to expand, modernize and enhance its facilities, creating an estimated 515 jobs, Gov. Glenn Youngkin announced Thursday.

The expansion will meet increased demand for servicing existing nuclear power plants and developing solutions for advanced and small nuclear reactors. At the end of October, Framatome had 1,350 employees in Lynchburg, where it has had a presence since 1989. Framatome designs, services and installs components, fuel and instrumentation and control systems for nuclear power plants worldwide.

“We are building the world’s leading nuclear energy hub right here in Virginia, thanks to the continued growth of industry leaders like Framatome,” Youngkin said in a statement. “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.”

Virginia competed with North Carolina and Pennsylvania for the project.

In 2018, Framatome moved its North American headquarters from Charlotte, North Carolina, to Lynchburg and now has three operational and corporate sites in Lynchburg for its fuel, installed base and instrumentation and control (I&C) business units.

The company also operates its Framatome Nuclear Technology Academy at Lynchburg’s Central Virginia Community College, with the academy announcing a major revamp in May.

“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,” Kathy Williams, CEO of Framatome North America, said in a statement. “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 Virginia Economic Development Partnership worked with the City of Lynchburg to secure the project. Youngkin approved a $5 million grant from the Commonwealth’s Development Opportunity Fund to assist Lynchburg with the project. Framatome is eligible to receive state benefits from the Major Business Facility Job Tax Credit for full-time jobs created, as well as benefits from the Virginia Enterprise Zone program, administered by the Virginia Department of Housing and Community Development. VEDP will also provide support to Framatome through its Virginia Talent Accelerator Program.