Hoosiers Helping Casey's With Distribution Center (Slideshow)
Indiana Economic Development Corp. offering tax credits, grants to build in state
TERRE HAUTE, Ind. -- Indiana Governor Mike Pence joined executives from Midwestern convenience store chain Casey's General Stores Inc. Tuesday to announce the convenience store company's plans to open a new distribution center there, creating up to 185 new jobs by 2019.
The Ankeny, Iowa-based company will invest approximately $30 million to construct and equip a 250,000-square-foot distribution and logistics facility in the Vigo County Industrial Park.
The company said that it expects to begin construction in November, and it expects the new facility to open its doors by fall 2015 (see related story for more details).
"Indiana is a state that works for logistics," said Pence. "Perfectly situated here at the Crossroads of America, our central location helps companies like Casey’s reduce distribution costs. And with more pass-through interstates than any other state, Indiana helps companies reach their customers faster."
The Indiana Economic Development Corp. offered Casey's Marketing Co. up to $1.4 million in conditional tax credits and up to $100,000 in training grants based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. In addition, the IEDC will provide Vigo County with up to $200,000 in infrastructure assistance from the state's Industrial Development Grant Fund. Vigo County will consider additional incentives at the request of the Terre Haute Economic Development Corporation.
"We are delighted that Casey's has selected the Vigo County Industrial Park for the site of its second distribution center," said Judith Anderson, president of the Vigo County Commissioners. "It is especially thrilling to have such a well-known, growing company as Casey's make such a significant investment in our community."
Casey's owns and operates more than 1,780 c-stores in 14 Midwestern states. The stores offer self-service gasoline, a wide variety of grocery items and prepared foods such as made-from-scratch pizza and donuts, chicken tenders and sandwiches. Casey's operates its own distribution center, delivering approximately 90% of in-store products.
It was founded in 1969 when Don Lamberti leased an old country store from his parents, remodeling it into a convenience store. Today, the company has grown to include 1,788 stores across the Midwest, including 80 stores in Indiana. Selling self-service gasoline, a wide variety of grocery items and prepared foods, the company primarily serves communities with a population of 5,000 or less. Casey's currently employs approximately 29,000 associates in 14 states with more than 850 employees in Indiana.
Created in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corp. is governed by a 12-member board chaired by the governor. Victor Smith serves as the Indiana Secretary of Commerce and Eric Doden is the president of the IEDC.
The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment.