Dollar Tree to invest $110 million to expand Chesapeake HQ

Dollar Tree, Inc., an American chain of discount variety stores, will invest $110 million for development of its corporate headquarters in the City of Chesapeake. Virginia successfully competed against North Carolina for the project, which will retain 825 jobs and create 600 new jobs over the next six years.

“This is a tremendous project for the City of Chesapeake and the Commonwealth,” said Governor McAuliffe, speaking at the event. “Dollar Tree has been an outstanding corporate citizen for 30 years in Virginia and these 600 new jobs are a testament to the business climate, location and workforce the Commonwealth has provided. This project further solidifies Dollar Tree’s commitment to Virginia, and we are thrilled to see their headquarters grow and create hundreds of well-paid jobs. Ensuring our businesses succeed is key for building a new Virginia economy, and Dollar Tree continues to be a significant part of those efforts.”

“Dollar Tree has been an excellent corporate partner based in Hampton Roads,” said Secretary of Commerce and Trade Maurice Jones. “The company has continually made a strong commitment to invest in Virginia and its citizens, and I am pleased that the Commonwealth was able to assist with this most recent expansion. I congratulate the company with respect to the continued growth that it is experiencing and commend also the City of Chesapeake for this exciting win.”

“Dollar Tree has seen tremendous growth over the past 30 years,” said Dollar Tree CEO Bob Sasser. “We have grown from a small company to a leading retailer with more than 14,000 retail stores across North America.  To facilitate our continued growth, we are investing in the expansion of our corporate facilities. Chesapeake will be our center of growth for services shared across the entire corporation. We are appreciative of the support we have received from the City of Chesapeake and the Commonwealth of Virginia. We are excited about this development and the opportunity to create more jobs, as we grow our business.”

The Virginia Economic Development Partnership worked with the City of Chesapeake and Chesapeake Economic Development to secure this project for Virginia. Governor McAuliffe approved a $4 million grant from the Commonwealth’s Opportunity Fund to assist Chesapeake with the project. The Governor also approved $5.3 million in funds from the Virginia Economic Development Incentive Grant (VEDIG), which was established as a self-funded program of performance-based incentives that the Commonwealth awards to exceptional economic development projects with large numbers of employees and very high wages relative to average wages for that particular area. The company will receive benefits from the Port of Virginia Economic and Infrastructure Development Zone Grant Program. Dollar Tree will also be eligible to receive funding and services to support the company’s employee training activities provided through the Virginia Jobs Investment Program.

“Dollar Tree’s decision to grow its headquarters and operations is an announcement most communities dream of,” said Chesapeake Mayor Alan P. Krasnoff. “The long-term relationship we’ve built with Dollar Tree has turned a dream into a welcome reality, and when Dollar Tree succeeds as a company, Chesapeake succeeds as a city.”

“It is always good news when a business invests in Virginia,” said John Reinhart, CEO and executive director of the Virginia Port Authority. “It’s especially satisfying when a Virginia-based company like Dollar Tree — and major user of The Port of Virginia — chooses to reinvest in Virginia. Dollar Tree’s decision to expand in Chesapeake highlights the pro-business environment in Hampton Roads and Virginia and the ancillary-type jobs that the port market creates. We look forward to continuing our partnership with Dollar Tree and working with this long-time corporate citizen to continue building jobs and investment in the Commonwealth.”

 

About Dollar Tree, Inc.

Dollar Tree, a Fortune 200 Company, now operates more than 14,000 stores across 48 states and five Canadian provinces. Stores operate under the brands of Dollar Tree, Dollar Tree Canada, and Family Dollar. To learn more about the company, visit www.DollarTree.com.