Green Mountain Coffee Roasters, Inc.
Governor McDonnell Announces 800 New Jobs in Isle of Wight County
-Green Mountain Coffee Roasters, Inc. to invest $180 million over an initial five-years in first Virg-
RICHMOND - Governor Bob McDonnell today announced that Vermont-based Green Mountain Coffee Roasters, Inc., (GMCR) (NASDAQ: GMCR), a leader in specialty coffee and coffeemakers, will establish a production and distribution facility in Isle of Wight County. The company will invest $180 million over the initial five-years of the facility’s operations. GMCR has agreed to purchase a 330,000-square-foot building on a 64 acre parcel of land in Isle of Wight County, where it expects to house coffee roasting, grinding, flavoring, and packaging of its single-serve portion packs for its Keurig® Single-Cup Brewing System. Within five years, it is estimated the new facility will have as many as 800 employees.
Speaking about today’s announcement, Governor McDonnell said, “An investment of this proportion is transformational for Isle of Wight County. The region continues to rebound after experiencing devastating job losses, and this project will put 800 Virginians back to work. GMCR makes a consumer product that is rapidly growing in popularity, and this new Mid-Atlantic location will allow the company to meet increased demand. The Commonwealth’s growing food and beverage industry cluster was attractive to GMCR, and I am confident that our newest corporate partner will enhance Virginia’s standing in this sector.”
“A project of this magnitude is a tremendous win for Virginia and Isle of Wight County,” said Jim Cheng, Virginia Secretary of Commerce and Trade. “The locality is a perfect fit for GMCR, as it offered an available facility that will be built out to the company’s specifications, as well as a trained employee pool to fill 800 jobs. I am thrilled that this impressive, socially and environmentally responsible company will produce a leading consumer product from the Commonwealth.”
As a leader in specialty coffee and coffee makers, GMCR is recognized for its award-winning coffees, innovative brewing technology, and environmentally and socially responsible business practices. GMCR supports local and global communities by offsetting 100% of its direct greenhouse gas emissions, investing in sustainably-grown coffee, and allocates at least five percent of its pre-tax profits to social and environmental projects.
“The Commonwealth of Virginia’s appealing business incentives and the workforce potential of Isle of Wight County’s robust local communities were critical factors in our new site selection,” said Jon Wettstein, Vice President, Supply Chain Operations of GMCR’s Specialty Coffee business unit. “We are extremely thankful for the support and cooperation we have received from local, county and state officials to make this new site a reality, and look forward to ongoing collaboration among those constituents as we finalize the project details.”
The Virginia Economic Development Partnership worked with Isle of Wight County to secure the project for Virginia. The Hampton Roads Economic Development Alliance was instrumental in the project. Governor McDonnell approved a $4 million grant from the Governor’s Opportunity Fund to assist Isle of Wight County with the project. GMCR may be eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development. In addition, through its Virginia Jobs Investment Program, the Virginia Department of Business Assistance will provide funding and services to support the Company’s recruitment and training activities.
“This announcement is confirmation to the citizens of Isle of Wight that our investments in real estate and infrastructure for the Shirley T. Holland Intermodal Park are beginning to pay off as we welcome significant advanced manufacturing projects to our community,” said Isle of Wight County Chairman Thomas J. Wright, III. “The rewards will be realized for generations to come.”