Tool manufacturer moving to DeSoto
| Author/Source: | DeSoto Times Today |
|---|---|
| Published: | Dec 11, 2007 |
| Link: | View the article |
SOUTHAVEN - In a time of reported economic downturn, Southaven has lured an economic big fish.
Greenlee Textron, a Rockford, Ill.-based professional tool manufacturing company, announced last week that it will relocate its central distribution center to the county’s largest city early next year, bringing with it 100 jobs.
The company has chosen the DeSoto Trade Center, a Hillwood Properties development near the DeSoto Civic Center, for its new home.
Kathy Grisdela, the company’s Vice President of Integrated Supply Chain, said the move has been in the works for nearly six months, an outside firm weighing benefits at 13 sites in seven states.
“We looked at several factors,” she said about customer base location, labor costs and availability and transportation means.
Southaven’s proximity to Memphis and its international airport and FedEx hub, railway and water port facilities, as well as major interstates, also contributed to its being selected, she said.
“This just again reinforces how key logistics and distribution advantages in DeSoto County play into supply chain management strategies for companies such as Greenlee Textron,” DeSoto County Economic Development Council President/CEO Jim Flanagan said.
Furthermore, Flanagan said tax incentives - such as a 10-year property tax exemption - the county and Southaven offer also helped attract the company.
“I’m sure (the site) being in a Foreign Trade Zone also had a huge impact on their decision,” Southaven Mayor Greg Davis said.
While in or when exported from a Foreign Trade Zone, merchandise is not subject to federal duty or excise tax.
“It’s evident that the incentives we have in place work regardless of the economy,” Davis said. “The relocation of a business to Southaven at any point is good. But during an apparent slowdown of he economy, it’s even more for such an announcement.”
According to Grisdela, Greenlee Textron’s relocation will last several months beginning in the first quarter of 2008.
The company is a subsidiary of Textron Inc., an $11 billion company with brands such as Bell Helicopter, Cessna Aircraft Company and E-Z-GO operating in 32 countries.