Investment group 8F Asset Management said it chose the state of Virginia for its latest land based salmon project because of the proximity to East Coast customers and the financial backing of local authorities.

The company is investing $250 million (€221 million) into the project, which is expected to take two years to build once final permitting has been received.

It will be the company’s largest site to date. The facility's 20,000 metric-ton production capacity will be built all at once, and provide work for 200 people once fully operational.