The Greater Omaha Economic Development Partnership and its partner, Advance Southwest Iowa Corporation, are celebrating new business attraction and a significant economic win for the region. XTL, Inc., a Philadelphia-based logistics solutions provider, is announcing plans to build a state-of-the-art, $57.2 million cold-storage facility in Council Bluffs – and bring more than 50 new jobs to the community. The Council Bluffs City Council approved the agreement today.
The 155,000 sq. ft. XTL facility, to be located at the northwest corner of South 24th Street and Veterans Memorial Highway, will provide total logistical support to primary food processors in the region, including warehousing and shipping for market delivery. XTL will utilize leading-edge robotics and automation to move finished products within the warehouse.
The company had long recognized Greater Omaha as a prime market for growth. XTL contacted the Partnership in the spring of 2014 and indicated their interest in finding a suitable location. After an exhaustive evaluation of sites throughout the region, the company narrowed in on the Council Bluffs area.
“Council Bluffs was selected because of the real estate location and the willingness of the community to reduce the development and operational cost risks,” said Mike Dellinger, executive director, Advance Southwest Iowa. “XTL’s investment is significant to our growth, adding another quality business to our community.”
The City of Council Bluffs will provide tax increment finance (TIF) revenues totaling $8.95 million over fifteen years. The State of Iowa awarded $1.2 million in corporate tax credits and additional revenues for job development and workforce training.
“This is an example of the success that our regional economic development efforts are now achieving,” said Council Bluffs Mayor Matt Walsh. “Cooperative regional recruitment of new business results in new capital investment and new jobs that can benefit residents on both sides of the river and throughout the entire metropolitan region.”
Construction on the new facility is expected to begin this March with completion tentatively planned for April 2016.
“XTL’s decision to expand their operations into Greater Omaha is a testament to the progress we’re making in attracting private investment and spurring job growth,” said Randy Thelen, senior vice president, Greater Omaha Economic Development Partnership. “It was a pleasure to work with XTL on site selection, and it is an even bigger pleasure to welcome them to the region.”
XTL, Inc. has more than 35 years of expertise in the supply chain and logistics industry. The Council Bluffs location will be its first in the Midwest. XTL also owns property at the Ports of Houston, Philadelphia and Newark NJ/New York.
“We are not only excited about adding to the economy of Council Bluffs but also becoming part of the larger community,” said Kenneth Garrett, Chief Financial Officer, XTL. “Our company has worked with a number of communities around the country; the reception, support and professionalism we have experienced in Council Bluffs is second to none.”