Virginia governor, Terry McAuliffe announced that Virginia Poultry Growers Cooperative Inc. is investing $62 million to build a new processing plant at its Hinton facility that will incorporate the latest processing technologies into the co-op’s operations. The company is also investing in an existing feed mill and grain elevator. Upon completion, the project will reportedly increase production for the 165-member co-op by 45%.
Poultry is Virginia’s largest agricultural industry, generating more than $6 billion in direct revenue per year. Launched in 2004, Virginia Poultry Growers Cooperative Inc. is the 8th largest turkey processor in the U.S., and one of the country’s largest suppliers of organic and antibiotic-free poultry meat. The co-op purchases and processes over 7 million turkeys per year, and over the last decade has seen significant growth.
Governor McAuliffe noted how the investment is an indication of the role that agriculture and agribusiness will play in the revitalization of Virginia’s economy, adding, “The investments being made by the Virginia Poultry Growers Cooperative will not only increase poultry production and create jobs, but help bolster Virginia’s reputation as one of the nation’s leaders in quality poultry.”
To help ensure the success of the project, Governor McAuliffe approved a $500,000 performance-based grant from the Virginia Investment Partnership program, and the Governor’s Agriculture and Forestry Industries Development (AFID) Fund will provide $250,000, while Rockingham Country has committed up to $250,000 in matching funds over the life of the project.
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