Gov. Glenn Youngkin announced Tuesday that Liebherr Mining Equipment will invest $72.3 million in a plant expansion in Newport News and Hampton. It will create 175 new jobs.

Liebherr, founded in 1949, is a global, independent family-owned technology and equipment company. The company says the project will expand its manufacturing capabilities. At the Liebherr Mining Equipment Newport News facility, Liebherr manufactures its large, industrial-scale mining trucks, which are used to transport vast quantities of material at open-cast mining operations.

Newport News Mayor Phillip Jones and Hampton Mayor Donnie Tuck expressed excitement for Liebherr’s expansion.

“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,” Jones said a news release.

According to the Hampton government, Liebherr opened two manufacturing facilities and its North American headquarters on the Peninsula in 1970. It is located in the Copeland Industrial Park that is in both Hampton and Newport News.

“We look forward to Liebherr’s continued strong presence in our communities and the Hampton Roads region for many years,” Tuck said in the release.

The Virginia Economic Development Partnership worked with Hampton and Newport News to secure the project for Virginia. Youngkin approved a $1.5 million grant from the Commonwealth’s Opportunity Fund to assist the cities with this project. The company is eligible to receive benefits from The Port of Virginia Economic and Infrastructure Development Zone Grant Program.

Josh Janney, joshua.janney@virginiamedia.com.