Perdue AgriBusiness will invest $59.1 million to expand in the City of Chesapeake, VA. The agriculture products and services company will modernize facilities and increase production of high protein soybean meal, soybean oil, and hulls, allowing it to expand soybean crushing capability to include other high-oil content products. Perdue AgriBusiness also considered Maryland, North Carolina, and Pennsylvania for the project.
“We purchase grain from more than 700 farmers in Virginia annually, giving them a strong local market for their crops,” said Scott Fredericksen, President of Perdue AgriBusiness. “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 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, MD 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 Governor Glenn 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.”
The Virginia Economic Development Partnership and the Virginia Department of Agriculture and Consumer Services worked with the City of Chesapeake on the project. Gov. Youngkin approved a performance-based grant of $500,000 from the Virginia Investment Performance Grant, 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 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.
“Perdue AgriBusiness has a long history of contributing to the Commonwealth’s robust and diverse agriculture industry, and we congratulate the company on its expanding operation,” said Virginia Department of Commerce and Trade Secretary Caren Merrick. “Partnerships like this between processor and farmer are strong examples of how we can work together to help bring economic vitality and opportunity to all corners of the Commonwealth. We look forward to the company’s continued success and thank Perdue for its confidence in Virginia.”
“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,” said Secretary of Agriculture and Forestry Matt Lohr. “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.”
“Virginia’s transportation infrastructure is essential to getting Perdue AgriBusiness’ soybeans and other high-oil content products where they need to go. The two Class I railroads, our interstate network, inland port, and barge service to Richmond enable cargo to move efficiently through the Port of Virginia,” said Secretary of Transportation Shep Miller. “Last year, while other ports around the country were riddled with supply chain issues, the Port of Virginia had its most productive fiscal year yet, processing more than 3.2 million twenty-foot equivalent units. The Port of Virginia is a best-in-class asset for the Commonwealth.”