Publix Increases Spending on Lakeland HQ Expansion to $65 Million
LAKELAND, FL - Late last year, rumors began swirling that Publix could be expanding its Lakeland headquarters. This week, it appears the Florida-based retailer finally disclosed that it indeed has plans of transforming its headquarters from Dr. Banner to full-on Hulk, so to speak. According to News Chief, records show that the company has increased its HQ spending from $28 million to $65 million to cover the costs of a 190,000-square-foot expansion.
“The increase in costs are due to approximately 30,000 square feet of necessary building space to accommodate our projected job growth, construction and equipment cost inflation, and finished interior costs,” Chris Mesa, Director of Tax and Treasury for the retailer, said, as the news source reported. “[…] This project is in the final stages of planning and design.”
Publix plans to begin construction on the 190,000-square-foot HQ addition in the fall of 2019. This plan also includes the retailer purchasing $13 million-worth of office equipment and $6 million-worth of computer equipment in 2020.
Todd Jones, CEO and President, disclosed that the current headquarters, which opened in the early 2000s, is built for 1,200 employees—a number that has since increased in the last two decades. The expansion is slated to create 700 additional jobs.
The news source also noted that because the addition is larger than expected, Publix is in the running to receive a larger tax break as well. Originally, Publix was set to receive an estimated $163,208 each year for ten years.
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