RICHMOND - Governor McDonnell today made his second economic development and jobs creation announcement in one week—Kraft Foods Global, Inc. will invest $40 million to increase production of its Capri Sun beverage product at its facility in Frederick County. The project will create 100 new jobs.
Speaking about the announcement, Governor McDonnell noted, “Kraft’s creation of 100 new jobs is a testament to their growing presence across the Commonwealth. Its longstanding success at this operation is due to Frederick County’s excellent workforce and business advantages. I thank Kraft Foods for their continued investment in the Commonwealth, and look forward to working with them as they create more opportunities for Virginians.”
Kraft Foods is a global powerhouse in snacks, confectionery and quick meals. With annual revenues of approximately $50 billion, the combined company is the world’s second largest food company, making delicious products for billions of consumers in more than 160 countries. The combined company's portfolio includes 11 iconic brands with revenues exceeding $1 billion – Oreo, Nabisco and LU biscuits; Milka and Cadbury chocolates; Trident gums; Jacobs and Maxwell House coffees; Philadelphia cream cheeses; Kraft cheeses, dinners and dressings; and Oscar Mayer meats. Another 70+ brands generate annual revenues of more than $100 million. Kraft Foods (www.kraftfoodscompany.com; NYSE: KFT) is a member of the Dow Jones Industrial Average, Standard & Poor's 500, Dow Jones Sustainability Index and Ethibel Sustainability Index.
“Kraft Foods has enjoyed a long and productive relationship over the years in Virginia,” said Dilton “Dee” Gibbs, Kraft Foods Winchester plant manager. “This award is a good indication of our belief that Virginia remains a great place to do business.”
The Virginia Economic Development Partnership worked with Frederick County and the Winchester-Frederick County Economic Development Commission to secure the project for Virginia. Governor McDonnell approved a $200,000 grant from the Governor’s Opportunity Fund to assist Frederick County with the project. Governor McDonnell also approved a $300,000 performance-based grant from the Virginia Investment Partnership (VIP) program, an incentive available to existing Virginia companies. The Virginia Department of Business Assistance will provide training assistance through the Virginia Jobs Investment Program.
"We are pleased that Kraft has chosen to reinvest in Frederick County," said Richard Shickle, Chairman of the Frederick County Board of Supervisors. "During these economic times, Kraft's decision lends further testament to the fact that Frederick County is a competitive and profitable place to do business."
About the Virginia Economic Development Partnership
The Virginia Economic Development Partnership (VEDP), a marketing organization, was created by the Virginia General Assembly in 1995 to encourage, stimulate, and support the development and expansion of the economy of the Commonwealth. The Partnership is a state authority, which is governed by a 22-member Board of Directors appointed by the Governor and the Virginia General Assembly. To accomplish its objectives of promoting economic expansion within the Commonwealth, the Partnership focuses its efforts on business recruitment, expansion and international trade. VEDP has offices in Virginia, Belgium, Hong Kong, Mexico and Japan.