Five Below Plans Indianapolis, Indiana, Distribution Hub
To support continued growth and expansion in the Midwest, the company will establish distribution and e-commerce operations at 12050 East McGregor Road. The facility, initially occupying 1,000,000 square feet, is expected to be operational in summer 2022.
“Five Below strives to offer the best products, at an unbeatable value, to more customers every single day,” said Five Below CEO Joel Anderson. “This can be achieved with continued distribution expansion. Ship Center Indiana is going to be an incredible facility filled with state-of-the-art technology, and great for boosting the local economy by creating jobs. Our new Ship Crew will help us continue to deliver the best retail experience out there! We’re so proud of this company milestone.”
The Indiana Economic Development Corporation (IEDC) offered Five Below up to $2.8 million in conditional tax credits based on the company’s plans to create up to 473 jobs. These tax credits are performance-based, meaning the company is eligible to claim incentives once Hoosiers are hired. The IEDC will also offer up to $1 million to the local community from the Industrial Development Grant Fund to support infrastructure improvements. Shelby County approved additional incentives.
“Indiana’s business-friendly environment and skilled workforce continue to bring dynamic companies like Five Below to the Hoosier state,” said Governor Eric J. Holcomb. “Today’s announcement is exciting for Indiana, and we’ll continue fostering an ecosystem where businesses can thrive and grow for years to come.”
Philadelphia-based Five Below Inc. is an American chain of specialty discount stores that sells products that cost up to $5, plus a small assortment of products from $6 to $10. The company employs more than 15,000 associates nationwide, including more than 900 Ship Crew members throughout its distribution centers located in Georgia, New Jersey, Mississippi and Texas, as well as an additional facility under construction in Arizona.
“On behalf of the Shelby County Commissioners and Shelby County Council, we are excited to welcome Five Below to our community and the I-74 corridor,” said Brian Asher, executive director of Shelby County Development Corporation. “Shelby County is a great place for business, and we look forward to beginning a new working partnership with Five Below that will continue to grow for many years to come.”
2023 Top States for Doing Business Meet the Needs of Site Selectors
The Rise of Mid-Size U.S. Cities: The Industrial Development Boom
Front Line: Brownfields Offer Redevelopment Opportunities
2023 Top States Commentary: Top-Ranked States Have What It Takes to Win Mega Projects
37th Annual Corporate Survey: Economic Pressures Exerting Greatest Effect on Decision-Makers
2023 Top States Workforce Development Programs
Immigration: A Potential Fix for Labor Shortages?
Workforce Q4 2023