Richardson International eyes $220M investment in Memphis

The Memphis skyline
The Memphis skyline(Action News 5)
Published: Apr. 14, 2023 at 3:44 PM CDT
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MEMPHIS, Tenn. (WMC) - On Friday, Richardson International announces to invest $220 million to upgrade and modernize its Wesson Oil plant.

The agriculture and food processing company plans a multi-phase project that will replace the existing refinery at 1351 Williams Avenue with a state-of-the-art refinery plant. This will further Richardson’s ability to fulfill customer requirements and a growing global demand for vegetable oil.

When completed, the new refinery will modernize the site and significantly increase production and refining capacity with also retaining more than 100 jobs. Improved efficiencies will also drive substantial reductions in water, energy, and wastewater volumes, aligning well with Richardson’s focus on responsible and sustainable business operations.

“We are proud of our long legacy of investing in and supporting communities like Memphis,” said Darrell Sobkow, Executive Vice President of Richardson International.

“Pending approval of local programs, we look forward to growing our business in Memphis and are committed to the plant, our employees, and maintaining our presence in manufacturing and distribution in the U.S.”

According to the 2022 Advanced Manufacturing Report from the Chamber’s Greater Memphis Economic Research Group, the Canada based company was home to 1,108 advanced manufacturers employing 43,356 people in 2022. The gross domestic product of advanced manufacturers grew by 18.4% to $12 billion annually from 2019-2022.

“It’s great when new companies locate here from another community, but it’s equally as important to help grow and expand companies with a current presence in Memphis,” said Memphis Mayor Jim Strickland.

“I am excited for Richardson’s growth and could not be happier that they decided to keep doing it here.”

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