Saturday, December 3, 2022

Sign up here for our free newsletter that tells you about the newest stories, three mornings each week.

Lumber Exporting Company To Establish Operations In Suffolk

Kristi Corporation will invest $1.1 million to establish a log load and fumigation facility at 1326 Portsmouth Boulevard in Suffolk. The company plans to source 100 percent of its exports from Virginia loggers. Virginia successfully competed with North Carolina and Pennsylvania for the project, which will create 10 new jobs.

“Once again, the world-class Port of Virginia and our skilled workforce enabled our commonwealth to successfully compete for this new lumber exporting facility,” said Governor Ralph Northam. “This project will benefit both the local economy and our forestry industry, and we look forward to partnering with Kristi Corporation as it grows in Suffolk.”

Founded in 2005 and headquartered in Piscataway, New Jersey, Kristi Corporation started as a small scrap metal trading company that now has branches in Canada and India, along with representatives located across the globe. Today, the company has expanded beyond simple scrap metals and grown into a reliable supplier of industrial raw material for aluminum and steel metallurgical industries. Kriti Corp exports a variety of logs, lumber, and biomass from North America to countries worldwide.

The Virginia Economic Development Partnership worked with the Suffolk, the Virginia Department of Forestry, and The Port of Virginia to secure the project for Virginia and will support Kristi Corporation’s job creation through the Virginia Jobs Investment Project (VJIP), which provides consultative services and funding to companies creating new jobs in order to support employee recruitment and training activities. As a business incentive supporting economic development, VJIP reduces human resource costs of new and expanding companies. VJIP is state-funded, demonstrating Virginia’s commitment to enhancing job opportunities for citizens.

“Kristi Corporation’s strategic decision to locate its newest operation in Suffolk holds benefits for the company, the economies of Virginia, the City of Suffolk, and The Port of Virginia,” said Stephen A. Edwards, Virginia Port Authority CEO and Executive Director. “The port will be Kirsti Corp’s international trade gateway, and we are ready to collaborate to leverage world-class efficiency being generated at this twenty-first century port. We look forward to serving as the company’s link to global markets for years to come.”

You must purchase this article or be a subscriber to comment on it.

Latest News

Newport News Police Department Hosting Hiring Event

NEWPORT NEWS-The Newport News Police Department will hold a hiring event on Saturday, December 3. The police department is looking to hire police officers as...

Virginia’s October Economic Stats Offer Optimism

RICHMOND – Virginia’s labor force increased by 1,162 in October, keeping the number of Virginia’s employed at more than 4.3 million. The numbers from the...

Social Media A Vital Part Of Hiring Process

NEWPORT NEWS – Social media is a growing and important part of today’s world. However, it has extended far beyond the social aspects of...

The New Local News Model

On July 1, we started a new way to pay for news. Yes, we want you to subscribe, but we know nobody subscribes to every site they visit just because there's a paywall.

So if you don't want to subscribe (even at the low price of $39.99 for a year), you can pay for access to individual articles. Or just buy a 24-hour pass, as if you were buying a single copy of a newspaper. We use a new payment service called Transact, which lets you pay for individual articles in as little as three seconds. And you will get $3 in credit when you sign up (just an email address, no credit card required), which will let you pay for at least 20 articles.

This is new for everyone, so we're going to ease you into this. Initially, there won't be many articles that you have to pay for. Short ones will always be free. And even the longer stories will let you read the first half or so for free. We'd love to hear what you think, so send us a note at feedback@peninsulachronicle.com.