Posted 7/28/2014 12:00 am
Updated 5 months ago
ArcBest Corp. of Fort Smith is proceeding with plans to move ABF Freight Systems operations from North Little Rock to Memphis.
ABF Freight, ArcBest’s largest subsidiary, was offered a $4 million incentive from an economic development group to move a distribution center to Memphis where it would undergo a $20.5 million expansion.
ArcBest has closed or consolidated 30 terminals in the past year, including two in Arkansas (Harrison and Russellville).
Union officials said 380 members work at the North Little Rock facility, and ABF Freight officials told them about 25-40 jobs would remain at the Arkansas location. The Memphis expansion would create about 283 jobs.
Transport Realty Inc., an affiliate of ArcBest, bought two adjacent properties to the existing ABF Freight facility at 2080 Dunn Ave. in Memphis.
The $99,000 purchase of a 5-acre property at 2147 Frisco Ave. north of the ABF facility was completed in February.
That was three months before ArcBest applied for the incentive from the Economic Development Growth Engine of Memphis & Shelby County in May.
Transport Realty acquired the property from National Tank Inc. of Hernando, Mississippi.
Earlier this month, Transport Realty bought a neighboring 8.55-acre warehouse property for $500,000 from Sunbelt Warehouse Corp. LLC of Dallas.