Oct 28, 2011
The Hampton Roads Economic Development Alliance announced today 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.
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."
"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."
"This is an incredible victory for Hampton Roads," stated Rob Brown, Chairman of the Hampton Roads Economic Development Alliance. "This project is a prime example of teamwork. The Alliance worked closely with both the Virginia Economic Development Partnership and Isle of Wight County to attract Green Mountain Coffee Roasters to the region and attract these new jobs which will benefit not only the citizens of Isle of Wight County, but those of many of the surrounding localities as well."
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