Missouri agencies partner to bring CVS Distribution Center to Kansas City
KANSAS CITY, Missouri – Hundreds of jobs and millions of dollars in capital investment are coming to Kansas City. A new CVS Pharmacy Distribution Center is set to begin construction at NW 108th Street and Congress Avenue by the end of the year.
Port KC helped finance the project through a $123 million bond for the costs of the acquisition, construction and improvement of the distribution center.
Over the next 20 years, this project anticipates an estimated economic impact of $295 million in direct salaries and $190 million in salaries paid to the indirect and induced jobs. The projected fiscal impact will generate $31 million in gross benefit to local taxing jurisdictions with a net benefit of $23.5 million.
Port KC is very fortunate to have worked with such great partners to secure this competitive project, which will bring net new economic activity from the distribution center locating in the area.
The distribution center will be 752,000 square feet and will bring in 362 jobs to Platte County. Employees will make an average salary of $36,000 per year initially.
“We are delighted that CVS has chosen Platte County,” said Alicia Stephens, Executive Director of the Platte County Economic Development Council. “This is a huge success for the county and demonstrates its continued growth and attractiveness for businesses. We thank our economic development partners who were all vital in the process of this project.”
Bringing this project to Kansas City was made possible through team work and partnerships with the Platte County EDC, Missouri Partnership, Kansas City EDC, KC SmartPort, the city of Kansas City, Missouri, the Missouri Governor’s office and KCP&L.
Construction of the distribution center is expected to complete in mid-2018.
Click this link to read the local press release.
Port KC’s mission is to foster the economic vitality of Kansas City, Missouri through transportation, trade, commerce, and development.