Growth & Development: Franklin and Southampton

Virginia Business
November 2006

International Paper to sell land to environmental groups
International Paper, which operates a mill on the Blackwater River in Franklin, has announced plans to sell more than 200,000 acres of company-owned forest and timberland in 10 states for $231 million to the Nature Conservancy. The deal includes more than 20,000 acres in southeastern Virginia. Acres of pine and hardwood forests will be preserved by the sale in Isle of Wight, Southampton, Surry and Sussex Counties. The Nature Conservancy intends to protect the lands from future development with the transaction in Southern states securing 173,000 acres. Other nature groups and investment companies are interested in the remaining parcels.

Peanut producer to create 25 new jobs for Southampton
Feridies, a producer of Virginia peanuts, plans to invest $3.2 million to expand its manufacturing facility in the Southampton Business Park. The construction should be complete by next spring. The company also plans to increase its equipment capacity at the plant, creating 25 jobs. Based in Courtland, the company has been owned and operated by the Riddick family since 1973. The family also operates stores under the name The Peanut Patch. The expansion was announced a year after the company rebranded its Virginia peanut line from The Peanut Patch to Feridies. The Virginia Department of Business Assistance will provide training assistance through its Workforce Services Jobs Investment Program.