Macy’s latest to announce Valley growth
All too frequently we hear bad stories about struggles in the retail industry caused by the effects of COVID-19 or online shopping challenges, often triggering job loss or store closures.
But not this time.
After ruling out competing locations in West Virginia and Illinois, Macy’s announced last week a $30 million renovation project at its North Jackson distribution center, just south of the Trumbull County line.
The project will bring 417 new jobs to the site that for years has been home to a warehouse. Renovation work will begin in just a few weeks and is expected to be complete by mid-August. Most of the hundreds of new jobs will be added this year and in 2022 with some hired in 2023. The positions will help a new customer fulfillment location to support the retailer’s growing Macys.com digital business, adding fulfillment to the existing store delivery, furniture and bedding operations, company officials explained. They plan to retain current employees in addition to the new hires.
And the news just keeps getting better.
The new annual payroll at the North Jackson facility will grow to $16,775,000 by the end of 2023. That’s an average salary of more than $40,000 per year. Macy’s also will retain 55 positions with a $2.1 million annual payroll there with the $29,973,625 expansion.
We are so pleased to see Macy’s make this commitment to our area. Certainly, company leaders must know that our location, coupled with our hard-working and dependable labor force, makes the Valley a preferred place to do business.
“North Jackson’s talent and ideal location will play an essential role to move Macy’s products throughout the North American market,” J.P. Nausseef, JobsOhio president and CEO, said.
Along with that, economic development teams on the local and state levels deserve significant praise for stepping up to get the job done.
Macy’s will spend the money on building costs, new machinery and equipment, according to an Ohio Tax Credit Authority document.
The Ohio Tax Credit Authority approved a 1.472 percent, eight-year tax credit Monday for Macy’s. The estimated value of the tax credit is $1,855,000.
Macy’s had approached Team NEO, a nonprofit economic development organization in northeast Ohio, about expanding at the Jackson Township site. The two then worked together to develop a partnership with JobsOhio, the Western Reserve Port Authority, the Youngstown Warren Regional Chamber and the Ohio Development Services Agency.
This is just one more excellent example of how the agencies on the local level do their jobs together to ensure growth and expansion land here.
In the past several years, more than a half-dozen companies have committed to create more than 5,200 jobs.
They include Lordstown Motors Corp., TJX HomeGoods and Ultium Cells LLC. The latter is a joint venture between General Motors and LG Chem.
Also along the stretch of state Route 45 is Matalco, Anderson-Dubose and the Lordstown Energy Center natural gas power plant soon to be joined by construction of a second, twin power plant.
Indeed, the corridor straddling Trumbull and Mahoning counties in the area of Lordstown and North Jackson is quickly becoming the go-to location for business.