8/6/2012 2:44:00 PM
HEADLINES
MSC Industrial Plans $55m Distribution Center in Ohio
MSC Industrial Direct Co. announced plans to build its fifth US-based distribution center — this one in Columbus, OH.
MSC said it will purchase 70 acres of land in Columbus, intending to break ground on an approximately 400,000 sq ft facility in late 2012, with the facility functioning by late summer or early fall of 2014. MSC will invest $55 million in the project, which is expected to create approximately 300 new full time jobs in Columbus by year-end 2017.
“Columbus 2020, City of Columbus, State of Ohio, JobsOhio, Franklin County, Columbus-Franklin County Finance Authority, and Columbia Gas have worked to structure an attractive incentive package, with tax and other incentives totaling approximately $9 million over the course of ten years,” MSC stated.
“After conducting a thorough review, Columbus provided the most compelling opportunity to expand our distribution network in the most cost-effective manner, in a region that fits well with our existing network and provides easy access to key markets and resources, as well as a rich pool of local talent,” explained Doug Jones, executive VP – Global Supply Chain Operations.
The news comes weeks after MSC announced plans to open a co-headquarters in North Carolina, creating 400 jobs. The new $31 million, 180,000 sq ft Davidson, NC facility will house management, IT, accounting, human resources, product management and marketing.
MSC reported sales rose 15% to $612 million in its fiscal 2012 third quarter ended May 26, 2012. Operating income increased 13% to $110.9 million, or 18.1% of net sales, while net income grew 13.1% to $70.2 million in the third quarter of fiscal 2011. ©2012 GlobalFastenerNews.com
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