Ross Stores promises 850 new jobs at $450 million warehouse near Greensboro, NC
One of the nation’s largest discount department store chains has committed to build a $450 million, 852-worker warehouse in North Carolina’s Randolph County.
Ross Stores, the California-based company behind Ross Dress for Less, says these warehouse positions will pay an average wage of $55,800 at the future facility 20 miles south of Greensboro in the small city of Randleman.
On Tuesday, the North Carolina Economic Investment Committee awarded Ross a job development investment grant, or JDIG, worth up to $7.6 million in payroll tax benefits should the company meet hiring and investment targets. Additional state incentives include $1.7 million in community college job training for Ross, $1 million from the General Assembly, and $500,000 from the North Carolina Department of Transportation. County and local governments have offered the retailer nearly $40 million in further incentives.
Under the grant, Ross has pledged to invest $450 million at the warehouse by the end of 2026 and reach its initial hiring target by 2028.
“Projects like these are a testament to the collaborative efforts of our state’s General Assembly, local officials, and economic development professionals,” state Rep. Brian Biggs said in a statement.
State officials Tuesday estimated every dollar North Carolina invests in the projected 1.7 million-square-foot facility will return more than $1.60 in state revenue. However, most projects that have received JDIGs over the program’s 21-year history never hit their initial hiring or investment goals. Payments through JDIGs are allocated only if recipients remain in compliance with their grants.
Ross is an S&P 500 company with a market cap of more than $46 billion. Its planned Randolph County warehouse would be its ninth distribution facility, providing fulfillment, packing and warehousing operations for the southeastern United States.
This story was originally published May 28, 2024 at 12:40 PM.
