Preferred Freezer Services, one of the largest public refrigerated warehousing companies in the world, will invest $60 million to construct a 200,000-square-foot cold storage warehouse in Portsmouth, Virginia. The company plans to hire 60 associates.
The new facility will be used to import, export, process, and distribute a variety of food products, positioning the company to meet the growing demand for cold storage space.
“The entire Preferred Freezer Services team is honored to be working with the great people of Portsmouth and the Commonwealth of Virginia to build our next cold storage facility at this perfect Port location,” said Brian Beattie, President of Preferred Freezer Services.
“We look forward to hiring over 60 people to service our customers throughout the area and manage the over 31,000 new pallet positions that will expand our import and export abilities. Our Chesapeake, Virginia location arguably has the best team of people in our entire network, and we look forward to adding the same caliber of people at this waterfront location,” he added.
Virginia Economic Development Partnership worked with the City of Portsmouth, the Hampton Roads Economic Development Alliance, and the Virginia Port Authority to secure the project for Virginia.
Governor Ralph Northam approved a $180,000 grant from the Commonwealth’s Opportunity Fund to assist the City of Portsmouth with the project. The company qualifies for state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development.
Preferred Freezer Services is also eligible for benefits from the Port of Virginia Economic Development Zone Grant Program, the Rail Industrial Access Program, and the Economic Development Access Program.
“Preferred Freezer Services’ new operation in the City of Portsmouth will harness the region’s valuable assets, including unparalleled access to global markets through the Port of Virginia and the world-class workforce in Hampton Roads,” said Governor Northam. “The company’s significant investment and major footprint expansion further reinforces the strength of the area’s logistics infrastructure, supply chain industry, and dedicated talent pipeline.”
“Hampton Roads has long-thrived as a trading center and Preferred Freezer Services’ latest expansion in the City of Portsmouth demonstrates the company’s commitment to continued growth in the region,” said Secretary of Commerce and Trade Brian Ball. “With close proximity to our world-renowned Port, an integrated network of highways, and air, rail, and sea services, the area has become a hub for opportunity for 21st-century warehousing, distribution, and logistics firms. Preferred Freezer Services’ new facility in the City of Portsmouth is another significant win for the region, creating 60 new jobs and returning formerly vacant real estate to productive use.”
“The Port of Virginia is investing to expand overall capacity and aggressively going after more refrigerated cargo business,” said John F. Reinhart, CEO and Executive Director of the Virginia Port Authority. “Today’s announcement by Preferred Freezer Services will support our effort, create jobs and help drive the Commonwealth’s economy. “
“We are excited and appreciative of Preferred Freezer’s decision to reinvest in Hampton Roads,” said Steve Herbert, Interim CEO of the Hampton Roads Economic Development Alliance. “We are also proud of Portsmouth’s good work in stepping up and closing this deal.”