CHESTERFIELD, VA (WWBT) - Philip Morris USA will spend $50 million to establish a tobacco leaf storage warehouse in Chester, the company announced Wednesday.
The company will lease four buildings totaling 1 million square feet on 118 acres off of Bermuda Hundred Road in the Meadowville area.
The new warehouse will complement the existing warehouses in the Richmond area, which store raw materials for use in the company's tobacco products.
"This new PM USA facility will be a welcome addition to our corporate community and once again indicates Chesterfield's commitment to providing a business friendly environment," said James Holland, Chairman of the Chesterfield County Board of Supervisors.
Altria, the parent group of Philip Morris USA, is headquartered in Richmond and employs about 4,000 Virginians at six facilities throughout the region.
"We are pleased to continue investing in the Richmond area, which is home to our headquarters and state-of-the-art manufacturing center," said Cliff Fleet, President and CEO of Philip Morris USA. "This strategic Chesterfield County location will allow us convenient access to our manufacturing facilities and complement our existing storage and production activities."
PM USA makes more than half of all cigarettes in the country from its south Richmond manufacturing center. More than $1 billion dollars flow through Virginia every year from Altria's companies in the form of taxes, small business revenue, donations and income for thousands of Virginians.