J.M. Smucker to invest $40 million more in Memphis plant
summary：The J.M. Smucker Co. plans to invest an addition $40 million in a peanut butter plant in Memphis, according to the Economic Development Growth Engine for Memphis & Shelby County....
The J.M. Smucker Co. plans to invest an addition $40 million in a peanut butter plant in Memphis, according to the Economic Development Growth Engine for Memphis & Shelby County.In February 2013 the Tennessee Department of Economic and Community Development reported the J.M. Smucker Co. planned to convert the Memphis facility, then a fruit spread facility, into a peanut butter plant. That move resulted in an initial investment of $55.6 million.
Since then Smucker determined another $40 million was needed for building modifications and additional machinery and equipment. The additional improvements will allow the company to expand peanut butter production for the company’s Jif, Laura, Scudders, Adams and Smucker’s brands.
The Memphis project now should result in a total investment of more than $95 million and the creation of 103 full-time jobs, according to the Economic Development Growth Engine for Memphis & Shelby County.