Virginia Gov. Glenn Youngkin announced March 25 that Perdue AgriBusiness will invest $59.1 million to expand its operation in the City of Chesapeake. The company will modernize facilities and increase production of its high protein soybean meal, soybean oil, and hulls, positioning the company to expand its soybean crushing capability to include other high-oil content products. Virginia successfully competed with Maryland, North Carolina, and Pennsylvania for the project.
Perdue purchases 80% of Virginia’s soybeans and exports 72 million tons of soybeans per year through The Port of Virginia. The Chesapeake facility supplies crude degummed soybean oil to Perdue’s Salisbury, Maryland oil refinery for further processing and sales to the food industry as well as supplying the biodiesel industry globally.
“When industry leaders reinvest in Virginia, it is a strong endorsement of the many attributes that make our Commonwealth a best-in-class business location,” said Gov. Youngkin. “Perdue AgriBusiness is a valued employer in Chesapeake and a major contributor to Virginia farmers’ livelihoods, and we look forward to its continued growth trajectory with the modernization and expansion of this facility.”
Virginia Secretary of Agriculture and Forestry Matt Lohr commented: “Virginia is home to some of the world’s most innovative and productive farmers. It has been their tireless work, continual investment in new and more efficient farming equipment, and embrace of technology that has kept the Commonwealth’s agriculture sector growing and secure in its top position as the state’s largest private sector industry. I commend Perdue for sharing this same commitment to innovation and investment in new equipment and technologies, because it is the diverse and global markets that facilities like this provide our farmers that drive the whole industry forward.”
Scott Fredericksen, president of Perdue AgriBusiness, said the company purchases grain from more than 700 farmers in Virginia annually, giving them a strong local market for their crops. “Renovating and expanding our Chesapeake operations will allow us to increase local origination and improve our processing capabilities, as well as enhance logistical efficiencies across our supply chain to continue meeting customer demand. As a proud employer in the state, we look forward to many more years of success and growth at our operations in Chesapeake.”
Perdue AgriBusiness is an independent operating company of Perdue Farms Inc. Ranked among the largest grain companies in the U.S., Perdue AgriBusiness is a leading merchandiser, processor, and exporter of agricultural products. Through Perdue AgriBusiness’ 75 elevator locations with more than 75 million bushels of storage, deep-water port, transload facilities, oilseed crushing operations, edible oil refinery, and protein blend mills, the company serves markets across the United States and around the world. Perdue Farms employs more than 2,800 associates across Virginia.
The Virginia Economic Development Partnership and the Virginia Department of Agriculture and Consumer Services worked with the City of Chesapeake to secure the project for Virginia. The governor approved a performance-based grant of $500,000 from the Virginia Investment Performance Grant, an incentive that encourages continued capital investment by existing Virginia companies, 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. The company is also eligible to apply for the Railroad Industrial Access Program through the Virginia Department of Rail and Public Transportation, subject to approval by the Commonwealth Transportation Board.