ArcBest to Build New Headquarters in Fort Smith
by May 30, 2014 3:19 pm 174 views
ArcBest Corp. of Fort Smith announced plans Friday to build a new corporate headquarters at Chaffee Crossing in Fort Smith.
The transportation and logistics company, which recently changed its name from Arkansas Best Corp., said it is under contract to buy 40 acres of land at Chaffee Crossing, a major industrial, commercial and residential development.
Groundbreaking is expected to take place this fall. According to a company news release, the total investment by the company, the city of Fort Smith and the state of Arkansas is expected to land around $30 million.
“As one of the area’s largest corporate employers with a bright future and growth plans ahead of us, we are excited to announce construction of this new facility in Fort Smith,” ArcBest president and CEO Judy R. McReynolds said in a prepared statement. “With plans for growth at all of our operating companies, it is important that we develop additional space to accommodate these expanding businesses. Our decision to build a new facility in Fort Smith for the ArcBest and ABF Logistics companies underscores our long commitment to this area, and we are grateful for the commitment from the city, the Fort Smith Chamber of Commerce and the state to help us meet our needs.”
In 2013, ArcBest companies generated $2.3 billion in revenue, with a quarter of that coming from the emerging businesses.
ArcBest has previously announced its goal to grow total corporate revenue to $3 billion by the end of 2015, with $1 billion coming from its emerging businesses.
ArcBest’s principal operating subsidiaries are ABF Freight and the emerging businesses ABF Logistics, Panther Premium Logistics and FleetNet America.
Company officials say space has been exceeded at its current Fort Smith general office on Old Greenwood Road, and ArcBest has been leasing supplemental office space at a separate location since early 2012.
The company has since outgrown the capacity at that location, which currently houses the ABF Logistics subsidiary personnel.
The new facility and room for expansion at the company’s existing location on Old Greenwood Road will create 975 new jobs in Fort Smith through 2021.