King and Queen peat moss and pine bark facility expanding
Premier Tech, a horticulture and agriculture company, plans to invest $1.89 million to expand its peat moss and pine bark mixing and distribution facility in King and Queen County in eastern Virginia.
Ed Miller, King and Queen’s director of economic development, says he and his peers at the local and state level knew they were competing with Minnesota for Premier Tech’s investment, so they put together the best incentive package they could to win the 20 jobs the company ultimately agreed to create.
Miller says the King and Queen Economic Development Authority approved $75,000 in incentive money to be paid to Premier Tech over five years. Gov. Ralph Northam approved $75,000 from the Commonwealth’s Opportunity Fund and $75,000 from the Agriculture and Forestry Industries Development Fund for Premier Tech.
Premier Tech is one of King and Queen County’s biggest employers. The rural county recently established its own public broadband system. King and Queen is also home to a major landfill but no major grocery stores.
Premier Tech plans to increase its production capacity and introduce new products to the East Coast market. The company was founded in 1923 and does business around the world. Premier Tech could not immediately be reached for comment Thursday.
The Virginia Economic Development Partnership worked with King and Queen County, the Virginia Department of Agriculture and Consumer Services, and the Virginia Department of Environmental Quality to get the project for Virginia.
Premier Tech is eligible for Sales and Use tax exemptions on manufacturing equipment as well as recycling tax credits for the processing of recyclable materials. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.