Gov. Northam announces company will invest $60 million in Portsmouth

PORTSMOUTH, Va. -  Portsmouth Mayor John Rowe and Virginia Gov. Ralph Northam announced Friday that Preferred Freezer Services will invest $60 million in Portsmouth by opening a 200,000-sq. ft. cold storage warehouse in the city.

Portsmouth Mayor John Rowe and Virginia Gov. Ralph Northam announced Preferred Freezer Services will invest $60 million in Portsmouth by opening a 200,000 sq ft cold storage warehouse in the city.

Northam said at the news conference that 60 jobs will also be created when the warehouse opens at the old defunct BASF site.

Preferred Freezer Services is headquartered in Chatham, New Jersey, with existing operations in the City of Chesapeake.

According to a statement by the governor's office, the Virginia Economic Development Partnership worked with the City of Portsmouth, the Hampton Roads Economic Development Alliance and the Virginia Port Authority to secure the project for Virginia, which competed with Georgia for the project.

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“We are very excited and pleased that Preferred Freezer Services has made the smart choice to invest in the City of Portsmouth,” Rowe said. “The site’s access to the Port is unmatched, and our business-friendly environment will support the company’s timeline to get up and running.

"This is a wonderful example of how the Commonwealth, our City and regional teams can work together to create jobs and to expand our economy.”

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