Preferred Freezer Services (PFS) has announced that it will invest
$60 million to construct a 200,000-square-foot cold storage warehouse in Portsmouth, Virginia, USA. 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 freezer space.
Noting that Virginia successfully competed with Georgia for the project, which will see the creation of 60 jobs, Governor Ralph Northam commented: “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.”
Headquartered in Chatham, New Jersey, with existing Virginia operations in Chesapeake, privately held Preferred Freezer Services employs over 1,800 people worldwide. The company, which was recently acquired by Lineage Logistics, has been in business since 1989 and operates over 300 million cubic feet of temperature-controlled warehouse space across the United States and Asia.
“Hampton Roads has long thrived as a trading center and Preferred Freezer Services’ latest expansion in Portsmouth demonstrates its 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 warehousing and distribution.”
The 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 Northam approved a $180,000 grant from the Commonwealth’s Opportunity Fund to assist 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.
“The Port of Virginia is investing to expand overall capacity and aggressively going after more refrigerated cargo business,” said John F. Reinhart, chief executive officer and executive director of the Virginia Port Authority. “Preferred Freezer Services has been a long-time partner and supporter of the port, and we welcome the decision to develop its newest facility in Portsmouth.”