Sheetz Invests $32.8 Million To Establish A North Carolina Distribution and Food Manufacturing Facility
Gov. Bev Perdue said the investment was made possible, in part, by state grants from the state's Job Development Investment Grant and One North Carolina Fund.
"Companies like Sheetz recognize that North Carolina is a great place to thrive because of our top-notch business climate, well trained workforce and strong logistics network that fits the company's needs," said Gov. Perdue. "We're going to keep leveraging North Carolina's tremendous assets as we continue our focus on job expansion."
"We appreciate the support we received from the Department of Commerce, Alamance County and the City of Burlington throughout this process," said Stan Sheetz, president and CEO of Sheetz, Inc. "North Carolina's winning mix of a strong labor force, financial assistance, and excellent location will enable us to better serve our customers and expand our offerings in North Carolina and Virginia."
The Burlington facility, operating as Sheetz Distribution Services, will support the company's growing retail base in Virginia and North Carolina. Sheetz continues to transform its business model from a traditional gas station and convenience store concept to include offering "kicked-up convenience" such as baked goods, made-to-order sandwiches and salads, and other restaurant items.
As an incentive to help facilitate this new operation, the company has been awarded a grant of up to $800,000 from the One North Carolina fund. This fund assists the state in industry recruitment and expansion by providing financial assistance through local governments. One North Carolina Fund grants require a local match, and this grant is contingent upon approval of local incentives.
In addition, under the terms of Job Development Investment Grant, the company is eligible to receive a grant equal to 60 percent of the state personal income withholding taxes derived from the creation of new jobs for each of the 12 years in which the company meets annual performance targets. If Sheetz meets the targets called for under the agreement and sustains them for 12 years, the JDIG could yield as much as $1.9 million in maximum benefits for the company.
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