Prologis Lands SpeedFC for 770 KSF Build-to-Suit Distribution Facility in Etna
- Mar 28, 2013
Prologis, Inc. announced March 25 that it has signed an agreement with SpeedFC, Inc., a Dallas-based e-commerce service provider, for a 770,000-square-foot build-to-suit distribution center in Etna.
Located at Prologis Park 70 Etna, near Pataskala, the facility will be close to major freeways and 20 minutes from the Port Columbus International Airport. It will have numerous energy-efficient features and will be outfitted with automated material handling equipment, including a 450-station bomb bay unit sorter. SpeedFC plans to invest $3.2 million in the Etna project and will move into the new distribution center this fall.
“We are pleased to support the ongoing success of SpeedFC and enhance their operations with this Class-A distribution center,” commented Prologis senior vice president Brian Marsh. “Supply of large space in the U.S. remains limited and e-commerce fulfillment continues to drive strong demand.”
On Monday, the Ohio Tax Credit Authority extended an eight-year, 50% tax credit to SpeedFC, which promised to create 250 jobs with an annual payroll of $6 million, primarily in warehousing and distribution positions. Hiring is scheduled to start in September. SpeedFC also made a commitment to retaining 242 existing jobs. The total of 492 jobs will carry an annual payroll of $11.5 million.
Tim Bubb, Licking County Commissioner, said, “Keeping SpeedFC in the Columbus Region is a major accomplishment and helping the company expand to a larger facility while doubling its workforce is a major win.”
During its Monday meeting, the Ohio Tax Credit Authority also approved a tax deal for Verizon Wireless. The company plans to move to Hilliard, add 500 new jobs and retain 1,900 others in the region. The Ohio Tax Credit Authority approved tax credits for 13 projects throughout the state.
Photo credit: Prologis