The Virginian-Pilot reported Monday the investment erases some doubts the multinational consumer goods company would continue to invest in the community where it has operated a plant for nearly 60 years.
"That's fabulous news. They have been an icon in Suffolk for all my life," said Delegate Chris Jones, R-Suffolk.
The Suffolk plant is said to be the largest tea processing facility in the country, the Virginian-Pilot said.
An official announcement on the investment was to be announced Monday by Gov. Bob McDonnell.
There was competition from Kentucky, North Carolina and South Carolina for the investment. The deal was secured with help from a $1 million state performance grant authorized by the governor.
Had the company left Suffolk, there were about 300 jobs hanging in the balance, the newspaper said.
Handler slams Piers Morgan: 'You're a terrible interviewer'
LGBT community has 'bullied the American people': Bachmann