Norfolk, VA – Current as of November 24, 2023
In a significant boost to Norfolk’s economy, Katoen Natie Norfolk Inc., a renowned plastic and polymers warehousing and distribution company, has announced a substantial $59.9 million investment in the City of Norfolk. This expansion includes a 450,000-square-foot warehouse, a rail yard, and an extended rail spur, aiming to meet the escalating demand in the supply chain sector.
This development, which signifies the company’s confidence in Virginia’s business environment, will create 76 new jobs, enhancing the local employment landscape. Katoen Natie, with a global presence in 35 countries and a workforce of 15,000 worldwide, underscores Norfolk’s strategic importance in the global supply chain industry through this expansion.
The Virginia Economic Development Partnership, alongside the City of Norfolk, the Hampton Roads Alliance, and other local entities, played a pivotal role in securing this project. The company benefits from various state programs, including the Virginia Enterprise Zone Program and the Rail Industrial Access Program, emphasizing the state’s commitment to fostering economic growth.
