State and outlet retailer announce new $68 million distribution center to be built in Princeton
Illinois Governor JB Pritzker, Ollie’s Bargain Outlet, Inc. (Ollie’s), and the Illinois Department of Commerce and Economic Opportunity (DCEO) on Friday announced that Ollie’s will build a new distribution center in Princeton.
This will be the fourth distribution facility for Ollie's, which was founded in 1982 and bills itself as "America’s largest retailer of closeouts and excess inventory." The company said it will help meet growing demand and support its nationwide expansion.
Ollie's said the new Princeton distribution facility represents a $68 million capital investment and will create 145 new full-time jobs over the next three years. It said the center will generate economic benefits for the region and state.
The company cited the site's central location as one of the reasons for its decision. It said the 600,000 square foot center, expected to be completed in 2024, will service 150+ Ollie’s stores across the Midwest. That includes ten stores in Illinois. The company said it plans to add more in the state as it expands nationwide.
State officials said they worked with Ollie's to find a suitable location in the state and, with Princeton officials, to help bring it to that city.
As part of the expansion, the company received an Economic Development for a Growing Economy (EDGE) tax credit, which stipulates a goal of investing $68 million and creating 148 jobs over the next three years. A link to the full agreement can be found here.