J.M. Smucker’s Expansion in Kentucky Saves 280 Jobs
Feb. 24, 2013
Company will invest $43 million in plant and keep Jif peanut butter home.
To meet increased demand The J.M Smucker Co. (IW1000/708) company announced last week that it will upgrade machinery and equipment at its plant in Lexington, Kentucky.
The plant, which manufactures the Jif brand of peanut butter, has 279 employees at this location and thus retains those jobs.
“The J.M. Smucker Company is proud to be a part of the Lexington community and we are excited to know that the investments being made at our peanut butter operations will be a major factor in the continued growth and success of our Jif brand,” said Richard Smucker, CEO, The J.M. Smucker Company. “We greatly appreciate the continued support of the Commonwealth of Kentucky and the city of Lexington, and are thankful for their contributions toward this critical project.”
To encourage the investment in Lexington, the Kentucky Economic Development Finance Authority preliminarily approved Smucker for tax incentives up to $2 million through the Kentucky Reinvestment Act (KRA). KRA is designed to assist companies that need to make significant capital investment in Kentucky facilities in order to remain competitive.
“We believe the Jif brand and Lexington go together like peanut butter and jelly!” said Lexington Vice Mayor Linda Gorton
