J.M. Smucker Co. on Jan. 31 unveiled plans to build what could become a $340 million plant in Longmont, Colo., to keep up with soaring demand for Uncrustables frozen peanut butter and jelly sandwiches.

Construction of the facility should begin this spring with production expected to begin in 2019.

Phase one calls for up to $200 million to construct and launch the new facility. Its size was not specified but 250 employees are expected when phase one is complete. There will be a built-in opportunity to invest an additional $140 million for phase two expansion, dependent on product demand, which would double employment to 500.

The Uncrustables brand has grown from approximately $10 million in annual sales in 2000 to a $200 million business today and ended fiscal 2016 with its 17th consecutive quarter of double digit growth in U.S. retail sales.

The Longmont facility will complement the company's Scottsville, Ky., plant, which will continue to produce up to two million sandwiches per day.

Construction of the plant remains contingent on the approval of tax and business incentives and the closing of the transaction to purchase the land where the facility will be located.