Randolph County wins $450M Ross Dress for Less distribution center, 852 jobs
May 28, 2024
By David Hill – Reporter, Triad Business Journal
May 28, 2024
Ross Dress for Less won North Carolina economic-development incentives Tuesday for a distribution center in Randleman that would create 852 jobs over five years, and later confirmed it plans to build there.
The N.C. Economic Investment Committee approved a package of incentives worth up to $8.4 million for Ross, which wants to build a 1.7 million-square-foot distribution center at the I-74 Industrial Center developed by Greensboro’s Samet Corp.
In addition, Randleman and Randolph County approved an even larger package of incentives, offering $38.6 million over 15 years to lure Ross. The county will also convey 30 acres of county property valued at $1 million to Ross.
Ross' total expected investment was put at $450 million through the end of 2026. An economic-forecasting model used by the N.C. Department of Commerce forecasts the project will increase the state’s gross domestic product by $1.4 billion and net state revenue $19.7 million, with a return on investment generating $1.61 for every state dollar invested.
The total number of jobs of 852 includes 550 full-time jobs through third-party staffing not included in the calculation for the state incentive package. The average annual wages for the jobs would be $45,806, compared to Randolph County’s average of $45,801.
Ross Dress for Less retail jobs in the state would not be included in the incentive. Ross has eight stores in the Triad, with two locations each in Winston-Salem and Greensboro plus single stores in High Point, Asheboro, Clemmons and Burlington. Ross also has seven stores in the Triangle, three in the Charlotte metro area and one in Sanford.
The N.C. Economic Investment Committee didn't identify a site, but Randolph County Economic Development Corp. President Kevin Franklin identified it as the I-74 Industrial Center.
According to RCEDC, approximately 170 acres are under an options agreement with Samet Corp., which worked with the agency to secure more acreage for the planned 330-acre site from adjacent property owners.
The Randleman site was competing with a finalist in Laurens County, South Carolina, where a package of state and local incentive grants were also offered, according to staff of the N.C. Department of Commerce.
According to RCEDC, a deciding factor for Ross Stores was a labor analysis by consultant J.M. Mullis that found the Triad has the necessary labor market.
The RCEDC quoted Ross Stores Executive Vice President of Supply Chain Rob Kummerer:
“We are excited about the opportunity to build out a new distribution facility in North Carolina to support our growth initiatives over the long term. We value the collaboration of the many state and local leaders, including the Economic Development Partnership of North Carolina, Department of Commerce, and the officials in the city of Randleman and Randolph County who have been instrumental in bringing these plans to fruition.”
Ross Dress for Less is part of Ross Stores Inc., headquartered in the east San Francisco Bay area of California with 2023 revenues of $20.4 billion. It describes Ross Dress for Less as the largest off-price apparel and home fashion chain in the United States with 1,764 stores and 345 dd’s Discounts stores. In its most recent annual report, the company said it believes Ross Dress for Less can expand to 2,900 sites and dd’s Discounts to 700.
Source: Triad Business Journal