Acesur to Invest $11 Million in Hampton Roads in First U.S. Production Facility
The Hampton Roads Economic Development Alliance (the Alliance) is pleased to announce Acesur, an international olive oil manufacturer, will invest $11 million to establish its first U. S. production facility in the City of Suffolk, VA.
Acesur purchased a two-story Class A manufacturing facility at 1010 Obici Industrial Blvd for $5.025 million. The company plans to invest another $6 million in renovations and equipment. Acesur, headquartered in Dos Hermanas, Seville Spain has been producing olive oil since 1840 and currently exports its products to more than 90 countries.
The new facility, operating under its subsidiary, Acesur USA LLC, will handle the company’s bulk imports through the Port of Virginia, and then create, blend, and distribute the finished product from its Suffolk operation.
“We are thrilled Acesur has selected Suffolk for its U.S. production operation. Hampton Roads has long been a hub for food processing due to the availability of industry-specific resources such as the Port of Virginia,” said Doug Smith, President & CEO of the Alliance
The Alliance worked with the City of Suffolk’s Economic Development team and its strategic partners at the Virginia Economic Development Partnership (VEDP), as well as the Port of Virginia to secure the company at their preferred location and close the deal.
Bill Throne of Cushman & Wakefiled represented the building’s seller and Glenn Gibson of Harvey Lindsay Commercial Real Estate handled the negotiation for Acesur USA.
“It’s been a privilege working with the Management Team at Acesur North America and playing a small part in helping them secure the company’s future operations in Hampton Roads. The professionals at Suffolk Economic Development, The Port of Virginia, the Alliance, and VEDP didn’t hesitate to get into the trenches when we needed them the most to bring about this success for us all.” said Gibson.
Acesur plans to hire 29 positions at the Suffolk location. Acesur’s addition of 29 manufacturing jobs in Hampton Roads will have an overall economic impact of $20 million and will create 60 new jobs across all Hampton Roads industries.
“We are privileged to welcome Acesur to our thriving Food & Beverage industry sector in Suffolk,” said Suffolk Mayor Linda T. Johnson. “We are confident that their well-respected international presence will be a complementary blend with our skilled workforce and favorable business environment.”
The Alliance is a non-profit public-private partnership that represents 11 jurisdictions and over 70 private sector investors in the Hampton Roads Region. Its mission is to market Hampton Roads as the primary region of choice for economic investment and business expansion and to serve as the region’s leading economic development and marketing organization.
Click here to read Governor Northam’s official statement.