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Lowe's Companies Plans Suffolk, Virginia, Coastal Holding Hub

10/15/2022
Lowe's Companies, Inc., one of the largest home improvement retailers in the world, will establish a coastal holding facility in the City of Suffolk, Virginia. The project is expected to create 100 jobs.

Located in the Virginia Port Logistics Park, the distribution operation will receive imported goods through The Port of Virginia to supply regional distribution facilities.

“As we work to enhance Lowe’s supply chain capabilities, which includes expanding our coastal holding facility network, this new facility in Suffolk will complement the 69 stores Lowe’s operates across Virginia by enabling us to better manage imported product flow,” said Don Frieson, Executive Vice President of Supply Chain at Lowe’s. “We selected Virginia and the City of Suffolk because of its proximity to The Port of Virginia, as well as the uniquely skilled workforce in the local area. This coastal holding facility is part of an ongoing investment in Lowe’s supply chain to better serve our stores and customers.”

The Virginia Economic Development Partnership (VEDP) worked with the City of Suffolk and The Port of Virginia to secure the project for the Commonwealth and will support Lowe’s job creation through the Virginia Jobs Investment Program (VJIP), which provides consultative services and funding to companies creating new jobs in order to support employee recruitment and training activities.

“As the supply chain sector continues to gain momentum, we are proud to welcome Lowe’s new coastal holding facility to the City of Suffolk,” noted Secretary of Commerce and Trade Caren Merrick. “More than 4,600 supply chain operations are located throughout the Commonwealth, which has emerged as America’s East Coast logistics hub, and the company’s new operation in the Virginia Port Logistics Park will provide direct access to critical customer markets.”

As a business incentive supporting economic development, VJIP reduces the human resource costs of new and expanding companies. VJIP is state-funded, demonstrating Virginia’s commitment to enhancing job opportunities for citizens. The company is also eligible to receive benefits from the Port of Virginia Economic and Infrastructure Development Zone Grant Program.

“This is a strategic decision by Lowe’s to build a coastal holding facility within minutes of the East Coast’s most modern port,” said Stephen A. Edwards, CEO and executive director of the Virginia Port Authority. “We’re going to work with the Lowe’s team to help it leverage our assets and operating model to better ensure predictability and reliability in the company’s supply chain. The return for the region is significant when measured in terms of jobs, economic investment, and having a FORTUNE® 50 company as a member of the region’s business community. We are excited about the opportunities of having Lowe’s as a neighbor and look forward to a very collaborative and beneficial relationship.”

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