J.M. Smucker LLC, a wholly-owned subsidiary of The J.M. Smucker Company, plans to invest more than $43 million to upgrade to its Lexington, Kentucky, facility, and retain 279 jobs at the home of its famous Jif Peanut Butter brand.
The company currently has 279 employees at its Jif operation in Lexington, where it plans to upgrade machinery, equipment and expand product lines to meet increased demand. “The J.M. Smucker Company is proud to be a part of the Lexington community and we are excited to know that the investments being made at our peanut butter operations will be a major factor in the continued growth and success of our Jif brand,” said Richard Smucker, Chief Executive Officer of J.M. Smucker Company. “We greatly appreciate the continued support of the Commonwealth of Kentucky and the city of Lexington, and are thankful for their contributions toward this critical project.”
“Jif Peanut Butter is a household name, and we’re extremely proud to have such a wonderful product made right here in Kentucky,” said Gov. Steve Beshear. “This investment of $43 million in Lexington really shows the commitment to Smucker’s growth and success, and is a testament to the positive relationship the company has with the Commonwealth.”
To encourage the investment in Lexington, the Kentucky Economic Development Finance Authority preliminarily approved Smucker for tax incentives up to $2 million through the Kentucky Reinvestment Act. KRA is designed to assist companies that need to make significant capital investment in Kentucky facilities in order to remain competitive.
“I am excited with Smucker’s plans to upgrade its machinery and equipment and expand its product lines,” said Sen. Kathy Stein, of Lexington. “An increased demand for Smucker products is not only good for the company, but good for our community and our state. This investment will allow our community to continue to reap the rewards of 279 good jobs, economic growth and development. It also speaks well of our workforce that Lexington remains the home of Jif Peanut Butter. I applaud Gov. Beshear for taking the lead in retaining a good corporate neighbor.”