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Perdue AgriBusiness to invest $59.1 million to expand soybean extraction operations in City of Chesapeake

Soybean Harvested In Maryland
Posted at 11:43 AM, Mar 24, 2022
and last updated 2022-03-24 15:28:07-04

RICHMOND, Va. - Governor Glenn Youngkin announced Thursday that Perdue AgriBusiness will invest $59.1 million to expand its operations in the City of Chesapeake.

Currently, Perdue's Chesapeake facility supplies crude degummed soybean oil to Perdue's Salisbury, Maryland oil refinery for sales to the food and biodiesel industries. The company purchases 80 percent of Virginia’s soybeans and exports 72 million tons of soybeans per year through The Port of Virginia.

According to Youngkin's office, the company will modernize the Chesapeake location's facilities and increase production of its high-protein soybean meal, soybean oil and hulls, which positions the company to expand its soybean crushing capability to include other high-oil content products.

Virginia competed with Maryland, North Carolina and Pennsylvania for the project.

“When industry leaders reinvest in Virginia, it is a strong endorsement of the many attributes that make our Commonwealth a best-in-class business location,” Youngkin said. “Perdue AgriBusiness is a valued employer in Chesapeake and a major contributor to Virginia farmers’ livelihoods, and we look forward to its continued growth trajectory with the modernization and expansion of this facility.”

“The City of Chesapeake is very excited about the expansion of Perdue AgriBusiness,” said Chesapeake Mayor Rick West. “Perdue’s decision to choose Chesapeake for its expansion just further highlights the many advantages our city has to offer businesses, from our location to our business climate. We look forward to the continued partnership with Perdue and are proud to see their growth in the City of Chesapeake.”