Last summer, ABF Freight, a subsidiary of ArcBest Corp. of Fort Smith, received a $4 million grant from a Memphis-area economic development group to relocate in Memphis. ArcBest, through affiliate Transport Realty Inc., bought two properties totaling 13.55 acres at the proposed relocation site for about $600,000 in 2014.
ArcBest Corp. of Fort Smith said Friday that it will buy 40 acres of land at Chaffee Crossing in Fort Smith to build a new corporate headquarters. The $30 million project will allow the firm to support 975 new jobs in Fort Smith through 2021.
The company formerly known as Arkansas Best Corp. became ArcBest Corp. on May 1. The name change — officially a rebranding — was companywide as email addresses, the website and headquarter marquees were among the makeovers.
Arkansas Best Corp.’s Dec. 4 announcement that it hoped to close 22 more terminals did not come as a surprise to industry analysts, who were expecting just such cost-cutting moves by the less-than-truckload carrier based in Fort Smith.