The Hershey Company to Invest $104 Million in Virginia
An 111,000-square-foot facility expansion will increase production capabilities
Virginia Governor Ralph Northam announced that The Hershey Company will invest $104 million to grow its major manufacturing operation in Augusta County. The 111,000-square-foot expansion of the existing facility will increase production capabilities. The expanded facility will manufacture penuche and peanut cream, which will be distributed to other Hershey facilities on the East Coast. The Hershey Company evaluated potential expansion locations nationally and ultimately chose Augusta County for the project, which will create 65 new jobs.
The Hershey Company, celebrating its 125th anniversary in 2019, is headquartered in Hershey, Pa., and is a snacks company known for bringing goodness to the world through its iconic brands, remarkable people and enduring commitment to help children succeed. Hershey has approximately 16,500 employees around the world who work every day to deliver delicious, quality products. The company has more than 80 brands around the world that drive more than $7.8 billion in annual revenues, including such iconic brand names as Hershey’s, Reese’s, Kit Kat, Jolly Rancher, Ice Breakers, SkinnyPop and Pirate’s Booty.
The company currently employs more than 1,000 people in Virginia, with the majority of those jobs located at its manufacturing facility in Augusta County.
The Virginia Economic Development Partnership worked with Augusta County and the Shenandoah Valley Partnership to secure the project for Virginia. Governor Northam approved a $600,000 grant from the Commonwealth’s Opportunity Fund to assist Augusta County with the project. Governor Northam also approved a $400,000 performance-based grant from the Virginia Investment Performance program, an incentive that encourages capital investment by existing Virginia companies. The company is eligible to receive Sales and Use tax exemptions on manufacturing equipment, as well as a Major Business Facilities job tax credit for new, full-time jobs created.