An Atlanta-based national wholesaler of business products is considering building a 200,000-square-foot distribution center in Kannapolis that would create 66 full-time jobs.
S.P. Richards Co. would locate the $11.8million project in Glen Afton, the industrial and office portion of the Afton Ridge development off Kannapolis Parkway at Interstate 85, said John Cox, president and CEO of Cabarrus Economic Development.
Average wages for managers, supervisors and sales staff will be $87,000 a year. Drivers, clerical staff and warehouse workers will earn $18.75 an hour, Kannapolis officials said.
"Seeing projects like this again is a very good thing," City Manager Mike Legg said. "Afton Ridge is one of our premier sites for industrial and commercial development, and S.P. Richards Co. will hopefully help kick-start additional growth in the area."
Never miss a local story.
Cox called S.P. Richards "an excellent fit" for Cabarrus County and Kannapolis.
"Not only would their distribution center provide good jobs to local residents, but it would also build upon our area's growing distribution and logistics industry cluster," Cox said.
S.P. Richards distributes about 30,000 business products to 7,000 North American resellers from 44 distribution centers, Cox said.
Its major product categories include office furniture, computer supplies, general office supplies, school supplies, presentation products, business equipment, janitorial products, warehouse and safety items and break room supplies.
"The company is one of the country's leading business products wholesalers," Cox said.
S.P. Richards is seeking economic development grants equaling 85percent of property tax paid for three years.
Last week, the Kannapolis City Council approved an industrial incentive grant for the company that reflects a property tax break of 85percent over three years, equal to an estimated $126,735. During that time, S.P. Richards will still pay about $22,365 in property taxes to the city, city officials said.
The grant also provides a rebate of 85percent of personal property taxes, or $20,607, officials said. The firm will still pay $3,636.55 during the three-year grant period. In the fourth year, S.P. Richards will pay the full amount of property taxes to the city.
The Cabarrus County Board of Commissioners has scheduled a public hearing on a similar grant request for 6:30 p.m. Monday in the board's second-floor meeting room in the Cabarrus County Governmental Center, 65 Church St. S.E., Concord..