CT: Dollar Tree Invests $104M for Windsor Distribution Ctr., 200 New Jobs
31 Jul, 2012
Governor Dannel P. Malloy announced that Dollar Tree, Inc., which recently acquired a site in Windsor, will build a one-million-square-foot, $104 million distribution center and hire a minimum of 200 people within the next five years.
The state is supporting the project with a loan, training grant and tax credits.
“This new distribution center — with its 200 new jobs and nearly $100 million in private capital investment — could have been located in New York or Massachusetts,” said Governor Malloy. “Dollar Tree’s decision to invest and grow here is a positive sign that we are once again making Connecticut a competitive place to do business.”
Construction on the project in Windsor will commence immediately. This phase of the project is expected to create more than 425 construction jobs over the next 12 months. Upon completion, the new facility — the company’s tenth distribution center — will service the company’s stores across Connecticut, New York, New Hampshire, Vermont, Maine, Massachusetts and Rhode Island. In addition, the facility is expected to generate significant incremental tax revenues to the community.
“We evaluated several potential sites for this facility,” said Bob Sasser, President and Chief Executive Officer of Dollar Tree. “The Windsor site was our first choice because of the availability of skilled workers, accessibility to highways and the support of our efforts from Governor Malloy as well as other state and local representatives. We look forward to becoming a part of the Windsor, Connecticut community.”
“This project would never have happened without the help of Governor Malloy and DECD,” said Windsor Mayor Donald S. Trinks. “Without the state’s guidance, Dollar Tree’s new distribution facility, the millions of dollars of investment and the 200 jobs surely would have landed in New York. Another factor was the town’s permitting process, which really facilitated the project and impressed the council.”
“The Dollar Tree project in Windsor is great news, both in terms of the jobs it will create and the new investment it will bring to Windsor and the Hartford region,” said Oz Griebel, president and chief executive officer of the MetroHartford Alliance. “Our competitiveness — in both the region and the state — depends on our ability to be a proactive partner with the private sector and create a business environment in which we can attract large-scale projects like this one. We applaud the Governor and DECD on this latest success.”
Dollar Tree is the nation’s leading operator of variety stores selling everything for one dollar or less. The company has annual sales of over $6 billion and more than 4,400 stores located across all 48 contiguous states, as well as Canada. The stores are supported by a logistics network of nine company-owned distribution centers located from coast-to-coast. The company’s headquarters is in Chesapeake, Virginia.
Leveraging company funds of $96.3 million, the Department of Economic and Community Development (DECD) will provide a $7 million loan at 1% for 10 years, with potential loan forgiveness based on the number of jobs created and a training grant of up to $500,000. In addition, the company is eligible for up to $20 million in Urban & Industrial Sites Reinvestment Tax Credits.
The project has undergone extensive review at the local level. From February to May, necessary approvals were secured from Windsor’s Inland Wetlands and Watercourses Commission, Planning & Zoning Commission, and Town Council. The project also passed a town-wide ballot initiative. In addition, the state Department of Energy and Environmental Protection (DEEP) has been engaged throughout the process, consulting with company officials and participating in the public hearing in Windsor.
See: http://governor.ct.gov or Twitter: @GovMalloyOffice or Facebook: Office of Governor Dannel P. Malloy.