Perdue AgriBusiness Announces $59 Million Investment in Virginia

RICHMOND, Virginia. — Perdue AgriBusiness and Virginia Governor Glenn Youngkin announced March 24 that they would invest $59.1 million to expand operations in the city of Chesapeake.

The agricultural and service company plans to upgrade its facilities and increase production of high-protein soybean meal, soybean oil and hulls.

It also wants to expand soybean grinding capacity to include other high-oil products.

The Virginia governor’s office said it was competing with Maryland, North Carolina and Pennsylvania for the project.

“We purchase grain from more than 700 Virginia farmers each year, giving them a strong local market for their crops,” said Scott Fredericksen, president of Perdue AgriBusiness.Renovating and expanding our operations in Chesapeake will allow us to increase local origination and improve our processing capabilities, as well as improve logistics efficiencies throughout our supply chain to continue to meet customer demand. As a proud state employer, we look forward to many years of success and growth in our Chesapeake operations. »

Perdue buys 80% of Virginia’s soybeans and exports 72 million tons of soybeans annually through the Port of Virginia. The Chesapeake facility supplies raw degummed soybean oil to the Perdue Oil Refinery in Salisbury, Maryland for further processing and sale to the food industry. Perdue also supplies the global biodiesel industry.

Perdue AgriBusiness includes 75 elevator locations with over 75 million bushels of storage, deep water port, transshipment facilities, oilseed crushing operations, edible oil refinery and protein blending plants .

Governor Youngkin approved a performance-based grant of $500,000 as well as a $450,000 grant from the Governor’s Agriculture and Forestry Industries Development Fund to assist the City of Chesapeake with the project.

“Perdue AgriBusiness is a valued employer in Chesapeake and a major contributor to the livelihoods of Virginia farmers, and we look forward to its continued growth trajectory with the modernization and expansion of this facility,” Youngkin said.

The company is also eligible to apply for the Industrial Railroad Access Program through the Virginia Department of Railroads and Public Transportation, subject to Commonwealth Board of Transportation approval.

Perdue AgriBusiness is an independent operating company of Perdue Farms Inc. Perdue Farms has more than 2,800 employees in Virginia.

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