Sep 28, 2011
Hampton Roads, VA - Ace Hardware Corp., the largest hardware cooperative in the industry, will invest $14 million to establish an East Coast import re-distribution center in the City of Suffolk. The company selected a 336,000-square-foot build-to-suit location at the CenterPoint Intermodal Center in Suffolk. This project will create 75 new jobs over the next 36 months, and service the company’s existing East Coast regional distribution centers, including its operation in Prince George County.
Founded in 1924 by a small group of Chicago hardware store owners, Ace changed the retail landscape by allowing individual stores to purchase merchandise in bulk to save money and buy at the lowest possible price. There are more than 4600 Ace stores across the US and throughout 70 countries, each owned and operated by local entrepreneurs. Ace stores offer a wide variety of hardware and fix-and-replace type products, as well as niche items and services relevant to each individual community.
The Virginia Economic Development Partnership worked with City of Suffolk and Hampton Roads Economic Development Alliance to secure the project for Virginia. Governor McDonnell approved a $100,000 grant from the Governor’s Opportunity Fund to assist City of Suffolk with the project. Through its Virginia Jobs Investment Program, the Virginia Department of Business Assistance will provide funding and services to support the company’s recruitment, training and retraining activities. The project is an example of the strong partnership between public and private entities, including CB Richard Ellis and the Port of Virginia.
For more information on ACE Hardware, please visit www.acehardware.com.
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