Belgian logistics firm expands to Norfolk, Va.
Katoen Natie NV, a Belgian third-party logistics provider and port stevedoring company, will invest $10.5 million to buy a portion of a former Ford Motor Co. plant in Norfolk, Va., and convert it into a warehouse, Virginia Gov. Bob McDonnell announced Friday.
The company will invest an additional $1.5 million for new equipment at the 662,000-square-foot distribution center, and eventually hire 225 workers.
The Ford plant, which closed in 2007, is owned by Jacoby Development Inc.
State and company officials said the proximity of the Port of Virginia and the ability to repurpose an existing facility played into Katoen Natie’s decision to locate its East Coast distribution center in Norfolk.
The privately held company, founded in 1854, manages 4.8 million square meters of warehouse space and has 9,300 employees in 28 countries.
The Virginia Economic Development Partnership worked with the City of Norfolk, the Hampton Roads Economic Development Alliance, the Virginia Port Authority and Jacoby Development to secure the project for Virginia. The company is eligible to receive benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development. Through its Virginia Jobs Investment Program, the Virginia Department of Business Assistance will provide funding and services to support the company’s recruitment and training activities.