TJX Wants to Build $160M Warehouse in Lordstown
LORDSTOWN, Ohio — The HomeGoods Division of The TJX Companies Inc. wants to spend $160 million to build a 1.2 million-square-foot warehouse and distribution center on 290 acres near the General Motors plant here.
The project would result in the creation of 1,000 jobs and an annual payroll of “$27 million to $30 million,” said Mayor Arno Hill.
The site lies at Interstate 80 and Ellsworth-Bailey road, just west of the Imperial Communities trailer park at 3293 Ellsworth-Bailey Road SW. The property is owned by “five or six landowners and everything is under contract,” Hill said.
HomeGoods has signed purchase and sale agreements “for the potential purchase of approximately 290 acres in Lordstown,” Homegoods spokeswoman Erika Tower confirmed. The proposed distribution center, which would help serve the growing network of HomeGoods stores, would be completed in 2020.
“We are optimistic that we may build an approximately 1.2-million square-foot distribution center, pending completion of due diligence and receipt of appropriate approvals and incentives,” Tower said.
TJX Companies Inc. , headquartered in Framingham, Mass., is an off-price retailer of apparel and home fashions. Among its store brands are TJ Maxx, Marshalls, HomeGoods, Sierra Trading Post and Homesense. As of Feb. 3, the end of the company’s fiscal year, it operated 4,070 stores in the United States, Canada, the United Kingdom, Ireland, Germany, Poland, Austria, the Netherlands and Australia.
“There has to be some rezoning, and the rumor mill is running amuck,” Hill said. “But once everybody sees the proposal, I think they’ll be happy.”
The Youngstown/Warren Regional Chamber has been working with TJX since early 2016, said Sarah Boyarko, senior vice president of economic development for the chamber.
“It’s not a done deal,” she cautioned.
A town hall meeting is scheduled for 6:30 p.m. Monday at Village Hall when company representatives “will answer any and all questions,” Hill said.
The project and its phases of construction will be outlined in several displays that residents will be able to view and talk to TJX representatives, he added.
“HomeGoods is excited about the prospect of becoming part of the Lordstown and greater Northeast Ohio community,” Tower said. The company expects to create some 1,000 jobs over the first five years of the distribution center’s operation and to spend about $160 million for the land, center and equipment.
“We look forward to collaborating with key village, state, and federal agencies to make this project a reality, ” Tower said, “and invite village residents and neighboring businesses to join us to hear details of the project on Monday.”
For fiscal 2018, the company reported net sales of $35.9 billion, an 8% increase over 2017’s 7% increase.
Said the company CEO, Ernie Herrman, in announcing the results Feb. 28, “Looking ahead, 2018 is off to a solid start. We see abundant opportunities in the marketplace for major brands and high-quality merchandise and are pursuing numerous initiatives to keep driving sales and customer traffic.”
TJX shares are traded on the New York Stock Exchange. Shares closed Thursday at $82.66. A year ago it was trading at $77.94.
Pictured at top: The TJX Companies headquarters in Framingham, Mass.
Copyright 2018 The Business Journal, Youngstown, Ohio.
Published by The Business Journal, Youngstown, Ohio.
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