Governor Glenn Youngkin has announced that FreezPak Logistics LLC is investing $77.5 million to construct a 245,000-square-foot cold storage facility in the City of Suffolk to serve the Mid-Atlantic region via the Port of Virginia.
Virginia, Georgia, and North Carolina vied for this project, anticipated to generate 80 new jobs.
The Virginia Economic Development Partnership collaborated with the City of Suffolk and the Hampton Roads Alliance to secure the project for Virginia.
Governor Youngkin sanctioned a $175,000 grant from the Commonwealth’s Opportunity Fund to aid the City of Suffolk in the project.
The company is entitled to state benefits under the Major Business Facility Job Tax Credit for newly created full-time jobs, as well as benefits from the Port of Virginia Economic and Infrastructure Development Zone Grant Program.
Support for the company’s employee training initiatives will be provided through the Virginia Jobs Investment Program, encompassing funding and services.
“All of FreezPak’s products will go through the Port of Virginia, a logistical advantage that will increase efficiency and increase its direct access to markets. This is a win for FreezPak, the Port of Virginia, and the Commonwealth,” said Governor Youngkin.
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“FreezPak’s decision to locate in the Commonwealth is a recognition of Virginia’s strategic location, world-class infrastructure, and the immediate access the Port of Virginia provides the company to reach its core customers,” added the Secretary of Commerce and Trade, Caren Merrick.
Stephen A. Edwards, CEO and Executive Director of the Virginia Port Authority, finally stated: “FreezPak is a national player with a long track record of success in the cold storage arena and having them here will be a welcome asset to the port community.”
“Development of nearly a quarter of a million square feet of cold storage capacity in our market is important for a couple of reasons.
“It will help the Port of Virginia expand its cold and refrigerated cargo business and it is another signal to the industry that there is real value in developing in and around this port, which is America’s most modern gateway. We are looking forward to working with both companies to ensure success.”
Earlier this month, the Port of Virginia’s larger shipping channel reportedly opened for two-way transit of ultra-large container vessels (ULCV).
