Five Below chooses I-74’s Shelby County for 850K sq. ft. distribution center
Press release from Indiana Economic Development Corporation
INDIANAPOLIS (May 19, 2021) – Governor Eric J. Holcomb today joined executives from Five Below (NASDAQ: FIVE), the trend-right, extreme-value retailer for tweens, teens and beyond, as the company announced plans to locate its Midwest distribution center in Shelby County, creating over 470 new jobs by the end of 2025.
“Indiana’s business-friendly environment and skilled workforce continue to bring dynamic companies like Five Below to the Hoosier state,” said Gov. Holcomb. “Today’s announcement is exciting for Indiana, and we’ll continue fostering an ecosystem where businesses can thrive and grow for years to come.”
The Philadelphia-based company plans to invest more than $100 million over the next few years to establish distribution and e-commerce operations at 12050 East McGregor Road in Indianapolis. Five Below will build the facility, initially occupying 1,000,000 square feet. The company hosted a ceremonial groundbreaking at the site today, and the facility is expected to be operational in summer 2022. The new distribution center will support the company’s continued growth and expansion in the Midwest.
“Five Below strives to offer the best products, at an unbeatable value, to more customers every single day,” said Five Below CEO Joel Anderson. “This can be achieved with continued distribution expansion. Ship Center Indiana is going to be an incredible facility filled with state-of-the-art technology, and great for boosting the local economy by creating jobs. Our new Ship Crew will help us continue to deliver the best retail experience out there! We’re so proud of this company milestone.”
Five Below employs more than 15,000 associates nationwide, including more than 900 Ship Crew members throughout its distribution centers located in Georgia, New Jersey, Mississippi and Texas, as well as an additional facility under construction in Arizona. The company will begin hiring in Shelby County in 2022. Available positions will be listed online.
“On behalf of the Shelby County Commissioners and Shelby County Council, we are excited to welcome Five Below to our community and the I-74 corridor,” said Brian Asher, executive director of Shelby County Development Corporation. “Shelby County is a great place for business, and we look forward to beginning a new working partnership with Five Below that will continue to grow for many years to come.”
The Indiana Economic Development Corporation (IEDC) offered Five Below up to $2.8 million in conditional tax credits based on the company’s plans to create up to 473 jobs. These tax credits are performance-based, meaning the company is eligible to claim incentives once Hoosiers are hired. The IEDC will also offer up to $1 million to the local community from the Industrial Development Grant Fund to support infrastructure improvements. Shelby County approved additional incentives.
About Five Below
Five Below is a leading high-growth value retailer for tweens, teens and beyond offering trend-right, high-quality products, with extreme $1-$5 value, plus some incredible finds that go beyond $5. We know life is way better when you’re free to “let go & have fun” in an amazing experience filled with unlimited possibilities, which makes it easy to say “YES!” to the newest, coolest stuff across eight awesome Five Below worlds: Tech, Create, Play, Candy, Room, Style, Party, New & Now. Founded in 2002 and headquartered in Philadelphia, Pennsylvania, Five Below today has 1,000+ stores in 39 states. For more information, please visit fivebelow.com and a store. Follow Five Below’s social channels @fivebelow.
The Indiana Economic Development Corporation (IEDC) leads the state of Indiana’s economic development efforts, helping businesses launch, grow and locate in the state. Governed by a 15-member board chaired by Governor Eric J. Holcomb, the IEDC manages many initiatives, including performance-based tax credits, workforce training grants, innovation and entrepreneurship resources, public infrastructure assistance, and talent attraction and retention efforts. For more information about the IEDC, visit iedc.in.gov.