XPO Logistics, one of North America’s largest providers of third party logistics services for domestic and international freight, will invest up to $2.7 million to establish its new 14,000-square-foot transportation and logistics center on Dave Cowens Drive in Newport, Kentucky.
“Our Newport facility expands our presence in Kentucky with another large facility focused on serving our customers across North America,” said Troy Cooper, Chief Operating Officer of XPO Logistics. “We’re extremely pleased that the state has been so supportive of our plans to grow our workforce in Kentucky with the creation of up to 88 new full-time jobs. We plan to start recruiting immediately for inside sales positions.”
To encourage the investment and job growth in Newport, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $1.5 million through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.
“We congratulate XPO Logistics on its success and growth in Newport,” said Governor Steve Beshear. “Northern Kentucky continues to be an ideal place for companies to base their services to domestic and global markets. We’re glad that XPO Logistics is growing, creating new jobs and investing in the Commonwealth.”
The company offers truckload and less-than-truckload brokerage, last mile logistics, intermodal services, ground/air expedited transportation, premium contract logistics, freight forwarding services and managed transportation to more than 14,000 customers in the manufacturing, industrial, retail, commercial, life sciences and governmental sectors. XPO Logistics has operations in more than 200 locations in the United States and Canada, including a freight brokerage office in Louisville that employs 23 people.
“Our region of the state has long played a major role when it comes to helping companies get their products in the hands of their customers, so XPO Logistics’ new facility is a great addition to that specialized industry,” said Republic Dennis Keene, of Wilder.