Last week, there was a news of a brand new FedEx hub moving into Ocala. And now, Memphis-based AutoZone is looking to build a 444,000 square-foot facility near the new FedEx hub. This $49 million building taking over 60 acres is part of an economic incentive project that would require AutoZone to create at least 192 full-time jobs with an average annual salary of $38,000, and the county and city each would pay AutoZone $3.75 million over 30 years as well as offer electrical service at reduced rates for the first five years after the plant opens, and also$500,000 in construction–related fees.
City and county officials have been trying to coax AutoZone to Ocala for two years as a way to help strengthen the Ocala and Marion County economy. The AutoZone Plant is expected to create an incentive-to-return ratio of 1 to 8, which means that for each dollar the government spends, eight dollars will be generated in return. This is all good news for the Ocala community and its residents.
The opening of FedEx and the anticipated opening of AutoZone are big steps in contributing to the diversity of businesses in the area, which creates more employment opportunities and more stability during economic shifts.
AutoZone is the country’s second largest retailer of after-market car parts and accessories, operating more than 5,000 stores in the United States, Puerto Rico, Mexico and Brazil. For more details on this new facility and the incentive plan, read the full article at Gainesville.com.
