MBJ: TBC Corp. picks Fayette over Shelby County for big expansion
“The Gateway Global Logistics Center (GGLC) located in both Fayette County, Tennessee, and Marshall County, Mississippi, has secured another tenant.
TBC Corp., a Florida-based marketer of tires for the automotive replacement market, recently said it would vacate its current location in Hickory Hill and move to GGLC.
“The facility we are in, in Memphis, is probably 40-some-odd years old, and our business requirements were such that we needed a larger facility,” said Tim Miller, executive vice president and chief financial officer for TBC. “We began a search in Northern Mississippi, as well as in Memphis and the state of Tennessee at additional sites. Really, they needed to meet a bunch of different criteria but, specifically, access to the transportation network.”
With easy access to U.S. Highway 72, U.S. Highway 302, the 269 Loop and the newly opened Norfolk Southern intermodal terminal, the Fayette County GGLC site had the transportation network that TBC required. GGLC is a 1,600-acre joint development with Panattoni Development Co. Inc. and William Adair and the William Adair Family Trust.
Post Consumer Brands recently signed a lease for more than 677,000 square feet of space at GGLC on the Marshall County side, and Volvo Group opened its 1 million-square-foot Central Distribution Center in GGLC in June 2015, also in the Mississippi portion.
Now, TBC will join the growing center with a 1.5 million-square-foot facility, which will expand its Memphis footprint by a half-million square feet.
When asked if the move had anything to do with taxes, Miller simply said taxes did play a part in the company’s overall decision-making process, and they looked at the state of Mississippi and state of Tennessee taxes, as well as local taxes.
In regards to jobs, TBC has about 110 Memphis employees, all of whom have the opportunity to move to the new GGLC building when it is ready. Miller estimated it would be about a year.
Once the company is settled into Fayette County and things are properly configured, there could be the possibility for additional job creation.