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The Omaha, Neb.-headquartered company plans to construct and equip a 545,000 square-foot facility in Hendricks County to support Gordmans' continued growth. The facility will be the company's second distribution center in the Midwest and, including construction and equipment costs, represents a total capital investment of $37.5 million.
"Gordmans is the latest company that has realized the benefits of locating logistics operations in the Hoosier State," said Governor Mike Pence. "With Indiana's strong workforce, expansive infrastructure and welcoming business climate, we expect many more announcements like this one."
Founded in 1915 by Sam Richman, Gordmans is an everyday value price department store that carries a broad selection of name brand apparel for the family, footwear, accessories and home décor at up to 60 percent off department and specialty store prices. Gordmans, which employs more than 5,000 associates nationwide, operates 83 stores in 47 markets across 18 states, including five stores in Indiana.
"Our company has experienced tremendous growth over the last few years, and, inclusive of the ten stores we plan to open in fiscal 2013, our store base will expand by almost 40 percent over a three-year period since the end of fiscal 2010," said Jeff Gordman, president and chief executive officer of Gordmans. "Our growth has enabled us to continue to invest in our distribution and logistics infrastructure, our associates and our guests."
The Indiana Economic Development Corporation offered Gordmans, Inc. up to $1,100,000 in conditional tax credits based on the company's job creation plans. These tax credits are performance-based, meaning that until Hoosiers are hired, the company is not eligible to claim incentives. Hendricks County approved additional property tax abatement at the request of the Hendricks County Economic Development Partnership.
"Hendricks County is thrilled to welcome Gordmans to the local community and the state of Indiana," said Nancy Johnson, a member of the Hendricks County Council. "The addition of a nationally known company and additional new jobs are a boost to our local economy, and we look forward to maintaining a long-standing relationship with the company."
Gordmans is the latest company to make plans to locate or expand operations in central Indiana. Angie's List, Raidious, Sugar Creek Packing, Moorehead Communications and Meritor Aftermarket are just some of the 117 companies that chose to expand or locate new business in central Indiana in 2012.
Gordmans (NASDAQ: GMAN) features a large selection of the latest name brands, fashions and styles at up to 60 percent off department and specialty store prices every day. The wide range of merchandise includes name brand apparel for all ages, accessories, footwear, home decor, gifts, designer fragrances, fashion jewelry, bedding and bath, accent furniture and toys. Founded in 1915, Gordmans operates 83 stores in 47 markets and 18 states. Gordmans is ranked No. 29 on the 2012 Forbes magazine list of America's 100 best small-cap companies. For more information about Gordmans, visit gordmans.com.
Created in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Mike Pence. Victor Smith serves as the Indiana Secretary of Commerce and Eric Doden is the president of the IEDC.
The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit www.iedc.in.gov.