Officials Gather to Sign Beam and Celebrate
with Topping Out Ceremony
HARRISBURG, Pa., Sept. 26,
2023 /PRNewswire/ -- Ollie's Bargain Outlet Holdings, Inc. (Nasdaq:
OLLI) gathered today with officials from the Illinois Department of
Commerce and Economic Opportunity, the city of Princeton, and ARCO Design Build to celebrate
a significant construction milestone for the new Ollie's distribution center in Princeton, Illinois. In a time-honored
tradition known as "Topping Out," a signed steel beam was placed on
the roof to signal the next phase of construction on the more than
615,000 square foot facility. Scheduled to open in 2024, the new
distribution center is a crucial part of Ollie's growth plan in support of the
company's nationwide expansion efforts to open more than 1,050
stores. Ollie's new Princeton facility, representing a capital
investment of over $75 million over
the coming years, will also create over 200 new full-time jobs in
the next few years, generating economic benefits for the
region.
"This is an exciting day for Ollie's. We are looking forward to expanding
into the Midwest market and delighted to deliver Real Brands and
Real Bargains on products that shoppers need and use in their
everyday lives. The construction of our first distribution center
in the Midwest will give us the capacity to service an additional
150 to 175 stores, supporting the next leg of our new store
growth," said Eric van der
Valk, Executive Vice President and Chief Operating
Officer. "In addition to more bargains, the opening of our
Midwest distribution center and store base will create more jobs
for the hardworking people in America's heartland. We appreciate
the incredible support we have received from both state and city
officials and Illinois residents.
We are excited to be coming to your community."
The facility is expected to be completed in 2024 and will
service all nine Ollie's stores in
Illinois, as well as more than 150
stores across the Midwest, including the 500th store
which opens this week in Iowa City,
Iowa – Ollie's 30th
state.
"We gather today to celebrate a major milestone for Ollie's and the city of Princeton," said Princeton Mayor Ray
Mabry. "We are honored that Ollie's has chosen Princeton as the setting for the next chapter
of their Midwest expansion. Ollie's has an incredible growth story to
tell, and we are proud to partner with them to continue to grow
local Illinois communities."
As part of the expansion, Ollie's received an Economic Development for a
Growing Economy tax credit, which stipulates a goal of investing
$75 million into the local community
and creating over 200 jobs in the next few years. Ollie's will begin employee recruitment for
the Princeton distribution center
in 2024. For more information about current available
positions with Ollie's, please
visit https://www.ollies.us/careers.
About Ollie's Bargain
Outlet, Inc.
Ollie's is
America's largest retailer of closeout merchandise and excess
inventory, offering Real Brands and Real Bargain prices®! We offer
extreme value on brand-name products in a variety of departments,
including housewares, food, books and stationery, bed and bath,
floor coverings, toys, health and beauty aids and more. We
currently operate 500 stores in 30 states and growing! For more
information, visit www.ollies.us
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SOURCE Ollie's Bargain Outlet
Holdings, Inc.
