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Gov. Pritzker and Ollie's Bargain Outlet, Inc. Announce New $68 Million Distribution Center in Princeton

Press Release - Friday, October 14, 2022

New center will create more than 145 jobs; facility will be completed in 2024

PRINCETON — Governor JB Pritzker, Ollie's Bargain Outlet, Inc. (Ollie's), and the Illinois Department of Commerce and Economic Opportunity (DCEO) today announced that Ollie's will build a new distribution center in Princeton, which will meet growing demand and support the company's nationwide expansion. Ollie's new Princeton distribution facility represents a $68 million capital investment and will create 145 new full-time jobs over the next three years - generating economic benefit for the region and state.

"I'm excited to welcome Ollie's first distribution center to Illinois and to the Midwest, and proud that this facility will create full-time jobs and support the local economy in Princeton," said Governor JB Pritzker. "Illinois' top-notch location and infrastructure are well-suited to support the needs of a fast-expanding company like Ollie's and their decision to locate here further solidifies the state as a first-class destination to do business."

The 600,000 square foot center, expected to be completed in 2024, will service 150+ Ollie's stores across the Midwest. As part of the expansion, the company received an Economic Development for a Growing Economy (EDGE) tax credit, which stipulates a goal of investing $68 million and creating 148 jobs over the next three years. A link to the full agreement can be found here.

"We are excited to make the next key step in our nationwide expansion happen by building our fourth distribution center in Princeton, IL," said Eric van der Valk, Executive Vice President and Chief Operating Officer of Ollie's. "Illinois is one of Ollie's fastest growing states with ten stores and counting to open in the upcoming months. Its central location to our other markets in the Midwest region and the strong workforce made Illinois the perfect spot for breaking ground to bring customers more bargains. We appreciate our strong partnerships with Governor Pritzker, Mayor Quiram, City Manager Wittenauer and their teams and look forward to becoming a valued part of the Princeton and Illinois community."

"For the past six months, we have been on a rewarding journey that reached its apex today with the announcement that Ollie's has chosen Princeton for its fourth distribution center. This is a great day for Ollie's, for Princeton, for Bureau County, and the surrounding area," said Princeton Mayor Joel Quiram. "Ollie's decision to locate in Princeton sends a message throughout the Midwest that Princeton, and communities along Illinois' I-80 corridor, are poised for growth. The city looks forward to a long and successful relationship with Ollie's as they continue to grow as a company and within our community."

"As part of Governor Pritzker's 5 Year Economic Plan, DCEO is supporting job creators like Ollie's in key growth markets like transportation, distribution, and logistics," said DCEO Director Sylvia I. Garcia. "By investing more than $68 million and creating 148 jobs, Ollie's new distribution center is a great addition to Illinois' TDL industry leveraging our great state's top talent and world class infrastructure."

"We are truly grateful Ollie's has selected the City of Princeton for the location of their fourth warehouse distribution center. The fact that a national chain has selected Princeton as its new location is a testament to the success we are enjoying as a community in making the City of Princeton a much sought-after destination," said Princeton City Manager Theresa Wittenauer. "The City and Ollie's worked together with all parties closely over the summer months to move this project forward expeditiously, and it showed a level of professionalism that truly made Princeton stand out. Not only will this new facility create jobs for our community and the surrounding region, but it highlights Princeton's position as an emerging logistics and distribution center."

"When Ollie's contacted us about finding a Midwest location, we showed them sites throughout Illinois that reach the entire region efficiently," said Intersect Illinois CEO Dan Seals. "In the end, Princeton's location and strong talent pipeline made it the best choice for their growth."




About Ollie's Bargain Outlet, Inc:
Ollie's Bargain Outlet, Inc., founded in 1982, is America's largest retailer of closeouts and excess inventory, offering real brands at real bargain prices. Ollie's has a huge variety of famous brand name merchandise in every department - food, books, housewares, toys, electronics, domestics, clothing, furniture, health and beauty, flooring, seasonal items and so much more - at up to 70 percent off the fancy stores' prices every day. You never know what you'll find at one of Ollie's 462 "semi-lovely" stores and growing in Alabama, Arkansas, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Mississippi, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Vermont, Virginia, and West Virginia. For more information, visit www.ollies.us. Follow us on Facebook, Instagram, Twitter, or TikTok to stay up to date on the latest deals and events. Ollie's Bargain Outlet Holdings is a publicly traded company on NASDAQ under the ticker symbol OLLI.

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