NC: Sheetz Creating 254 Jobs, $32M Distribution & Food Manufacturing Plant
6 Sep, 2012
Gov. Bev Perdue announced that Sheetz Inc., a large chain of convenience stores and gas stations, will establish a distribution and food manufacturing facility in Burlington. The company plans to create 254 jobs in North Carolina by the end of 2018, and invest more than $32.8 million in its Alamance County facility. The project was made possible in part by state grants from the Job Development Investment Grant and the One North Carolina Fund.
“Companies like Sheetz recognize that North Carolina is a great place to thrive because of our top-notch business climate, well-trained workforce, and a strong logistics network that fits the company’s needs,” said Gov. Perdue. “We’re going to keep leveraging North Carolina’s tremendous assets as we continue our focus on job expansion.”
Sheetz Inc., founded in 1952, is a family-owned convenience store chain based in Altoona, Penn. The company operates more than 425 locations across six states – Pennsylvania, Maryland, Virginia, Ohio, West Virginia, and North Carolina – and employs more than 14,500 employees.
“We appreciate the support we received from the Department of Commerce, Alamance County and the City of Burlington throughout this process,” said Stan Sheetz, president and CEO of Sheetz, Inc. “North Carolina’s winning mix of a strong labor force, financial assistance, and excellent location will enable us to better serve our customers and expand our offerings in North Carolina and Virginia.”
The Burlington facility, operating as Sheetz Distribution Services, will support the company’s growing retail base in Virginia and North Carolina. Sheetz continues to transform its business model from a traditional gas station/convenience store concept to include offering “kicked-up convenience” such as baked goods, made-to-order sandwiches and salads, and other restaurant items.
Compensation will vary by job function, but the average annual payroll will be more than $7.4 million plus benefits.
To help facilitate this new operation, the company has been awarded a grant of up to $800,000 from the state’s One North Carolina Fund. This fund assists the state in industry recruitment and expansion by providing financial assistance through local governments to attract business projects deemed by the governor to be vital to a healthy and growing state economy. One North Carolina Fund grants require a local match, and this grant is contingent upon approval of local incentives.
Today, the state Economic Investment Committee also voted to award a Job Development Investment Grant (JDIG) to Sheetz. JDIGs are awarded only to new and expanding businesses and industrial projects whose benefits exceed the costs to the state and which would not be undertaken in North Carolina without the grant.
Under the terms of JDIG, the company is eligible to receive a grant equal to 60 percent of the state personal income withholding taxes derived from the creation of new jobs for each of the 12 years in which the company meets annual performance targets. If Sheetz meets the targets called for under the agreement and sustains them for 12 years, the JDIG could yield as much as $1.9 million in maximum benefits for the company.
In addition, up to $341,000 could be added to the state’s Utility Fund for infrastructure improvements in economically distressed counties. When a JDIG is awarded in the state to a Tier 2 county such as Alamance, 15 percent of the grant is allocated to the Utility Fund to encourage economic development in less prosperous counties.
Other partners who assisted with this announcement include: The N.C. Department of Commerce, N.C. Community Colleges, N.C. Department of Transportation, Alamance County, City of Burlington, Alamance County Chamber of Commerce, Alamance County Economic Development Foundation, Elon University and the Golden LEAF Foundation.
For more information about Sheetz, Inc., including job opportunities, visit www.sheetz.com.