GA: Five Below to Invest $70M, Create 130 Jobs in Monroe County
19 Jul, 2018
Gov. Nathan Deal announced that Five Below, a leading high-growth value retailer, will create 130 jobs and invest $70 million to build a new distribution center in Monroe County. The initial investment includes $42 million in land and building and approximately $28 million in machinery and equipment. Additional investment will occur over the next five years.
“Five Below’s decision to invest in Monroe County directly reflects the strength of our workforce and Georgia’s strategic location for accessing the Southeastern market,” said Deal. “Georgia is perfectly positioned to support this distribution center and Five Below will benefit by locating distribution operations here in the No. 1 state in which to do business. We appreciate this investment in Monroe County and I am confident that Georgia’s transportation infrastructure will help Five Below serve its growing customer base.”
Founded in 2002, Five Below operates more than 650 stores in 32 states. The company expects to cut the ribbon on approximately 125 new stores in 2018.
“Five Below is excited to expand our distribution network in the state of Georgia,” said Five Below President and CEO Joel Anderson. “This distribution facility is expected to support Five Below’s store growth through the Southeast. We believe our ability to expand in Georgia to service our customers and our commitment to provide opportunities for employment will create a positive economic impact for the region.
“We would like to express our gratitude for our partnership with Georgia’s Governor, Nathan Deal, and Monroe County administration for the support we have received throughout this process and we look forward to a strong relationship with the community for years to come.”
“This is a great day for all the citizens of Monroe County,” said Development Authority of Monroe County (DAMC) Chairman Tom Baugh. “The Development Authority will continue to work towards the additional growth of jobs and investment in the county. I appreciate the help and support from the Board, Bo Gregory and county government.”
“This is an exciting time for Monroe County. We are looking forward to welcoming our newest employer to our business community,” said Monroe County Chairman Greg Tapley. “This is a great example of what can happen when we work together as a team. A big ‘Thank you!’ to everyone that helped make this project happen.”
Georgia Department of Economic Development (GDEcD) Senior Project Manager Joshua Stephens represented the Global Commerce Division in partnership with DAMC, the Metro Atlanta Chamber, Georgia Power, the Georgia Ports Authority (GPA) and Georgia Quick Start.
“Five Below is a leader in the value retail market for young consumers,” said Hala Moddelmog, president and CEO of the Metro Atlanta Chamber. “We are pleased to welcome them to Metro Atlanta. Their expansion into our region further validates our position as a logistics hub and as a market for innovative companies making an impact as they make a profit.”
“We’re excited to welcome one of America’s fastest-growing retailers to the Port of Savannah,” said GPA Executive Director Griff Lynch. “Five Below’s desire to locate their next distribution center in Monroe County is a strong testament to the state’s business-friendly environment and the logistical advantages of serving the Southeast via Georgia’s ports.”
“We welcome Five Below as an incredible addition to our thriving network of distribution and fulfillment centers located across the state,” said GDEcD Commissioner Pat Wilson. “This is a great win for Monroe County, and all of Georgia as we work together with our economic development partners to attract new business to the state.”
About Five Below
Five Below is a leading high-growth value retailer offering trend-right, high-quality products loved by tweens, teens and beyond. We know life is way better when you’re free to “let go & have fun” in an amazing experience filled with unlimited possibilities. We make it easy to say YES! to the newest, coolest stuff because everything is just $5 and below across awesome Five Below worlds: Style, Room, Sports, Tech, Create, Party, Candy and Now. Founded in 2002 and headquartered in Philadelphia, Pennsylvania, Five Below today has more than 650 stores in 32 states. For more information, visit www.fivebelow.com.