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KENTUCKY: J.M. SMUCKER TO UPGRADE OPS WITH $43M INVESTMENT

(The following is a reformatted version of a press release
issued by the Office of the Governor of Kentucky and received
via electronic mail. The release was confirmed by the sender.) 
Gov. Beshear Announces The J.M. Smucker Company to Upgrade Jif®
Operations in Lexington, Retain Nearly 280 Jobs
Global food company to invest more than $43 million in
Commonwealth 
FRANKFORT, Ky. (Feb. 21, 2013) - Governor Steve Beshear today
announced J.M. Smucker LLC, a wholly-owned subsidiary of The
J.M. Smucker Company, plans to retain 279 jobs and invest more
than $43 million in upgrades to its Lexington facility, home of
the famous Jif Peanut Butter brand. 
“Jif Peanut Butter is a household name, and we’re extremely
proud to have such a wonderful product made right here in
Kentucky,” said Gov. Beshear. “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.” 
Smucker is a leading marketer and manufacturer of fruit spreads,
retail packaged coffee, peanut butter, 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,” said Richard
Smucker, CEO, The J.M. Smucker Company. “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). KRA is designed to assist companies that
need to make significant capital investment in Kentucky
facilities in order to remain competitive. 
“I am excited with Smucker’s plans to upgrade its machinery and
equipment and expand its product lines,” said Sen. Kathy Stein,
of Lexington. “An increased demand for Smucker products is not
only good for the company, but good for our community and our
state. This investment will allow our community to continue to
reap the rewards of 279 good jobs, economic growth and
development. It also speaks well of our workforce that Lexington
remains the home of Jif Peanut Butter. I applaud Gov. Beshear
for taking the lead in retaining a good corporate neighbor.” 
“This is great news for our community, because it further
cements the long working relationship we’ve had with J.M.
Smucker, and it also is another feather in the cap for the
company’s local workforce, that has always set a high bar of
excellence in the food and beverage industry,” said Rep. Jesse
Crenshaw, of Lexington. “I want to thank our state and local
officials as well; they deserve a lot of praise for helping to
make all of this possible.” 
“The city of Lexington is thrilled that The J.M. Smucker Company
is expanding its Jif peanut butter operations in Lexington,”
said Lexington Vice Mayor Linda Gorton. “We love having such an
important brand and operation in Lexington. We believe the Jif
brand and Lexington go together like peanut butter and jelly!” 
“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, CCE, president and CEO of Commerce Lexington Inc.  “We
enjoy working with the Jif team, and are glad choosy companies
chose Lexington!” 
For more information on J.M. Smucker, visit www.smuckers.com. 
Information on Kentucky’s economic development efforts and
programs is available at www.ThinkKentucky.com. Fans of the
Cabinet for Economic Development can also join the discussion on
Facebook at www.Facebook.com/ThinkKentucky or follow on Twitter
at www.Twitter.com/ThinkKentucky. 
A detailed community profile for Lexington (Fayette County) can
be viewed at
http://www.thinkkentucky.com/EDIS/cmnty/index.aspx?cw=053. 
Contact:
Kerri Richardson
502.564.2611
502.330.6633 
Terry Sebastian
502.564.2611
502.229.6130 
Mandy Lambert
502.564.4886 
(bjh) NY 
#<873920.660640.3.4.1.0.76>#
 
 
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