Gov. Ralph Northam announced that Hubbard Peanut Company, Inc. will invest $1.6 million to establish a new operation in the City of Franklin. The company will create 10 new jobs, increase their purchase of Virginia-grown peanuts by a third and lead to additional investments in their Sedley facility. The project will be located in a former grocery store and will help revitalize a shopping center complex along the City's main commercial corridor. The property is also part of a revenue-sharing agreement between the City of Franklin and Southampton County.
The Virginia Department of Agriculture and Consumer Services worked with the City of Franklin and Franklin Southampton Economic Development, Inc. to secure the project for the Commonwealth. Gov. Northam approved a $40,000 grant from the Governor's Agriculture and Forestry Industries Development fund for the project, which the City of Franklin will match with local funds. The company is also eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development. This is the first Governor's economic development announcement in Franklin since 2003.