OLIVE BRANCH, Miss. — Gov. Phil Bryant and officials from Helen of Troy (NASDAQ, NM: HELE) announce the company is constructing a 1.3 million-square-foot distribution facility in Olive Branch, Miss., in DeSoto County. The project represents a company investment of $37 million and will create more than 300 new jobs. Helen of Troy is a designer, developer and worldwide marketer of brand-name household, personal care and healthcare/home environment consumer products.
The facility, the company’s second in the state, is expected to be complete by December 2013. Helen of Troy also operates a 1.2 million-square-foot distribution facility in Southaven, Miss.
“I am grateful to Helen of Troy for expanding its presence in Mississippi by constructing this new distribution facility. The company’s investment and the jobs it will create will have a significant impact on both the DeSoto County economy and the state as whole,” Governor Phil Bryant said. “I thank the company for its continued investment in its Mississippi operations and the trust it has placed in our dedicated and productive workforce. The announcement of this new facility is proof that Mississippi’s pro-business climate works.”
“We are very excited to start this project and are looking forward to the day when we can move into this new distribution center. With the addition of this new 1.3 million-square-foot distribution center, Helen of Troy will have a total of 2.5 million square feet of owned and operated distribution capacity in DeSoto County, Mississippi,” said Helen of Troy Chairman, Chief Executive Officer and President Gerald J. Rubin. “This is a significant commitment for Helen of Troy and we will continue to benefit from the skilled workforce, logistics infrastructure and geographic attractiveness of DeSoto County.”
The Mississippi Development Authority provided assistance for site preparation and relocation needs related to the project through the Mississippi Industry Incentive Financing Revolving Fund. The agency also provided assistance for infrastructure improvements through the Development Infrastructure Program, as well as job training assistance. The City of Olive Branch and DeSoto County also provided assistance in support of the project.
“Helen of Troy’s business operations have grown in recent years, and we expect our businesses to continue to grow, both organically and through acquisitions, in the future. With interest rates at record lows, it is a great time to make this type of investment in the future of Helen of Troy,” said Rubin. “In addition, local agencies and governments, including the Mississippi Development Authority, the State of Mississippi, DeSoto County and the City of Olive Branch, provided us with incentives to enhance the attractiveness of the proposition.”
“It is always exciting to see one of our existing businesses strengthen its roots in Mississippi, and I am proud MDA was able to provide assistance for Helen of Troy’s new distribution facility,” said MDA Executive Director Brent Christensen. “I thank the mayor and the board of aldermen in Olive Branch and the DeSoto County Board of Supervisors for working with us to make this project possible.”