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Peet’s Coffee Invests $58 Million In Suffolk, Virginia, East Coast Manufacturing Complex

12/09/2016
Peet’s Coffee, a craft coffee brand, will invest $58 million to establish an East Coast manufacturing operation in the City of Suffolk, Virginia. The company will build a 175,000-square-foot Roastery to produce a variety of coffee, with plans to create 135 new jobs.

“Financing the development of an East Coast Roastery in Suffolk, Virginia, our first outside of our LEED Gold certified location in Alameda, California, is a strategic investment in the company,” said Dave Burwick, CEO, Peet’s Coffee. “Suffolk is the perfect location to support our high-quality standards while ensuring that the freshest beans are made available to our east coast consumers much more quickly than today.”

Virginia Economic Development Partnership worked with the City of Suffolk and the Hampton Roads Economic Development Alliance to secure the project for Virginia. Governor McAuliffe approved a $1 million grant from the Commonwealth Opportunity Fund to assist Suffolk with the project.

The company will also be eligible to receive sales and use tax exemptions on manufacturing equipment. Peet’s will receive benefits from the Port of Virginia Economic and Infrastructure Development Zone Grant Program. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.

“Peet’s Coffee’s decision to locate its East Coast manufacturing operation in Virginia is a true testament to the welcoming climate our Commonwealth offers businesses from every sector,” said Governor Terry McAuliffe, speaking at the announcement. “Virginia’s strategic location, business climate, and top-notch workforce continue to attract high-caliber companies, and this project is a significant win for the City of Suffolk and the Hampton Roads region. The Commonwealth has emerged as a hub for critical industry sectors like advanced manufacturing and food and beverage, and we welcome Peet’s to our roster as we celebrate ongoing success in diversifying and building a new Virginia economy.”

“The strategic decision by Peet’s Coffee to expand into Virginia is a great win for the company, the City of Suffolk, and the entire Hampton Roads region” said Secretary of Commerce and Trade Todd Haymore. “With the Port of Virginia being one of just two ports on the East Coast that has received ICE certification as an exchange port for coffee imports, Virginia is in a prime position to help Peet’s Coffee quickly distribute its product to more than half of the U.S. population. I know that Peet’s will be a tremendous corporate asset to Suffolk and Virginia, and we look forward to a successful partnership.”

“The Port of Virginia is happy to join the City of Suffolk, the Virginia Economic Development Partnership and the Hampton Roads Economic Development Alliance in welcoming Peet’s Coffee – a company that is going to bring jobs and investment to Hampton Roads, and cargo to The Port of Virginia,” said John F. Reinhart, CEO & Executive Director of the Virginia Port Authority. “Peet’s Coffee joins a flourishing coffee handling and manufacturing industry in Virginia that has taken notice of The Port of Virginia’s sustained growth and investments in its infrastructure that provide its customers with strategic access to world markets and supply chains for generations to come. We look forward to partnering for success with Peet’s Coffee.”

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