Company to expand product lines to meet increased demand, retain 279 jobs
FRANKFORT, Ky. (Feb. 21, 2013) – J.M. Smucker LLC, a wholly-owned subsidiary of The J.M. Smucker Co., plans to retain 279 jobs and invest more than $43 million in upgrades to its Lexington facility, home of the famous Jif Peanut Butter brand.
“Jif Peanut Butter is a household name, and we’re extremely proud to have such a wonderful product made right here in Kentucky,” said Gov. Steve Beshear. “This investment of $43 million in Lexington really shows the commitment to Smucker’s growth and success, and is a testament to the positive relationship the company has with the commonwealth.”
Smucker is a leading marketer and manufacturer of fruit spreads, retail packaged coffee, peanut butter, shortening and oils, ice cream toppings, sweetened condensed milk, and health and natural foods beverages in North America. The company currently has 279 employees at its Jif operation in Lexington, where it plans to upgrade machinery, equipment and expand product lines to meet increased demand.
“The J.M. Smucker Co. 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.”
The Kentucky Economic Development Finance Authority preliminarily approved Smucker for tax incentives for the Jif plant 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.
“I am excited with Smucker’s plans to upgrade its machinery and equipment and expand its product lines,” said Sen. Kathy Stein of Lexington. “An increased demand for Smucker products is not only good for the company, but good for our community and our state. This investment will allow our community to continue to reap the rewards of 279 good jobs, economic growth and development.”
For more information on J.M. Smucker, visit www.smuckers.com.