Lexington, KY - The J.M. Smucker Company, plans to retain 279 jobs and invest more than $43 million in upgrades to its Lexington Jif Peanut Butter facility.
“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,” Gov. Steve Beshear said in a release announcing the Orrville, Ohio-based company's plans.
In addition to Jif brand peanut butter, Smucker is a leading marketer and manufacturer of fruit spreads, retail packaged coffee, 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 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,” Richard Smucker, CEO of the J.M. Smucker Company said in the release. “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).
“Jif peanut butter, owned by The J.M. Smucker Company, has been an iconic brand in Lexington for many decades, and we’re proud they are expanding their operations in Lexington,” said Bob Quick, president and CEO of Commerce Lexington Inc.