NORFOLK, VA – The City of Norfolk’s Department of Economic Development announced that PadenCold Storage Inc., a locally owned storage company that provides frozen, refrigerated, and dry storage, will invest $2.8 million to expand in the City of Norfolk. The company will be retraining 21 employees as part of the cold storage modernization and expand its existing warehouse to meet increased demand.

“PadenCold Storage is not just expanding its physical infrastructure; they are investing in the skills and capabilities of our workforce. 21 individuals from our community will undergo retraining, equipping them with the knowledge and expertise needed to excel in the evolving landscape of cold storage management. This not only secures jobs but also enhances the skill set of our workforce, making Norfolk an even more attractive hub for businesses” said Sean Washington, Director for Norfolk Economic Development. “PadenCold Storage is a stalwart in our local business landscape for over two decades. Paden Cold Storage has been an integral part of our community, facilitating vital imports and exports and contributing to the growth and prosperity of Norfolk, and today, we witness their commitment to innovation and investment in Norfolk.”

“Hampton Roads serves as one of America’s major logistics hubs, and with the surge in demand for cold storage, we are thrilled to see PadenCold Storage continue to invest in Norfolk as their business grows.” commented Douglas L. Smith, President & CEO of the Hampton Roads Alliance. “The Alliance congratulates our partners at the City of Norfolk and the Virginia Economic Development Partnership on this exciting project and is eager to continue supporting PadenCold Storage as a regional partner.”

“PadenCold is proud to be a member of the Norfolk business community.  We are excited about the opportunity to expand and grow along with the City and the Port of Virginia” said Steve Paden, President and CEO of PadenCold. “By expanding our operations, it will help us play a larger role in the Port’s efforts of becoming the predominant seaport on the East Coast.  We appreciate the help and assistance that the City of Norfolk and Economic Development has given us and look forward to many years ahead.”

Paden Cold Storage is 100% veteran-owned and has been providing services to customers around the globe from Norfolk for two decades. The company provides numerous services related to the cold storage industry such as frozen storage, refrigerated storage, dry storage, drayage/port services, refrigerated transportation, packing labeling, slip-sheeting, transloading, and cross-docking. Their facilities and distribution services allow for customers to store many different products under one roof to meet the growing demand for cold storage.

The City of Norfolk Department of Development worked with Virginia Economic Development Partnership and the Hampton Roads Alliance to secure the project for Virginia. Funding and services to support PadenCold’s employee training activities will be provided through the Virginia Jobs Investment Program.

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