Albemarle County-based AgroSpheres announced Thursday that it is investing $25 million to increase production space and construction and R&D and demonstration facility for its line of environmentally friendly crop health products.
The expansion will create more than 50 new jobs.
“We are blessed to have started AgroSpheres in one of the best states to do business. There is no better place to build our company than right here in Charlottesville, Va. Agriculture is this great state’s largest and oldest industry, and we hope to be leaders in moving our industry toward cleaner solutions,” said Payam Pourtaheri, founder and CEO of AgroSpheres.
The company’s mission is to transform agriculture through reliable and affordable biobased solutions. AgroSpheres’ AgriCell and AgriShell technologies enable the development of biological pesticides that have a multi-year shelf-life and high efficacy in the field.
The company also offers a delivery platform makes it cost-effective to manufacture and deliver biomolecules, small molecules, and semiochemicals in the field at a significantly reduced dose.
Gov. Glenn Youngkin approved a $200,000 grant from the Commonwealth’s Opportunity Fund to assist Albemarle County with the project.
This is in line with the level of corporate welfare that is typical in landing projects like these.
“Thanks to innovative companies like AgroSpheres, Virginia is quickly becoming a hub for cutting-edge developments in agriculture technology,” Youngkin said. “As the Commonwealth’s largest private sector industry, agriculture is engrained in the foundation of our economy. We are proud that Virginia-educated entrepreneurs took a leap that is paying off and the Commonwealth remains committed to ensuring an environment that fosters the growth of startups and small businesses.”
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Chris Graham
