November 19, 2010 — Tractor Supply Company, the largest retail farm and ranch store chain in the United States, today announced plans to open a regional distribution center in Franklin, Ky.
The new 840,000-square-foot distribution center, expected to be in operation by the end of 2011, will serve stores in the mid-eastern United States. The new location project will create 216 new jobs within three years of operation and represents a capital investment of more than $53.1 million in the Commonwealth.
“We evaluated numerous sites and chose Franklin as the best location for this facility,” said Jim Wright, Chairman of the Board and CEO for Tractor Supply. “We’re very pleased to be locating our new center in Simpson County, and we appreciate the hard work of the county and state officials who helped us through the process. Franklin’s central location offers many benefits to the company and our vendors, now and in the future. We anticipate a very productive business partnership with the community.”
Following today’s announcement, Kentucky Governor Steve Beshear, Tractor Supply executives and Simpson County community leaders broke ground for the new facility, which will be located in the Sanders Interstate Industrial Park.
“Tractor Supply Company, a nationally known company, is a fantastic addition to Kentucky’s corporate landscape, bringing hundreds of jobs and a more than $53.1 million investment to the Commonwealth,” said Gov. Beshear. “Kentucky is proud to play a role in this significant project and looks forward to a continued partnership with Tractor Supply for years to come.”
The economic development project was aided by two state tax incentive programs, the Kentucky Business Investment (KBI) program and the Kentucky Enterprise Initiative Act (KEIA). The Kentucky Economic Development Finance Authority preliminarily approved Tractor Supply for up to $2.9 million through KBI, which can be earned over a 10-year period through corporate income tax credits and wage assessments, and up to $939,762 in KEIA benefits, which allows approved companies to recoup Kentucky sales and use tax on the cost of construction materials, building fixtures and equipment used for research and development.
About Tractor Supply Company: Tractor Supply Company, listed on the NASDAQ Stock Exchange as TSCO, operates more than 940 stores in 44 states. Tractor Supply Company stores are focused on supplying the lifestyle needs of recreational farmers and ranchers. The company also serves the maintenance needs of those who enjoy the rural lifestyle, as well as tradesmen and small businesses. Tractor Supply Company stores are located in the outlying towns in major metropolitan markets and in rural communities. The company offers a comprehensive selection of merchandise for the health, care, growth and containment of horses, livestock and pets; a broad selection of agricultural products; and tools and hardware selected for our customers’ needs. In addition, the company sells light truck equipment, work clothing for the entire family, and an extensive line of seasonal products including lawn and garden power equipment products.