Cypress Cold Storage, a provider of temperature-controlled warehouse space and services for the food sector, announced Tuesday the grand opening of a $13 million expansion at its Maumelle facility.
The company said the expansion would accommodate 30 full-time jobs. The facility, at 11100 Louis Nelson Drive, was formerly owned by Frostyaire of Arkansas Inc. It now has more than 162,000 SF and the capacity to store more than 18,000 pallets.
"We see a continued demand for temperature-controlled warehouse space and are excited to provide additional capacity to our customers," President Michael McAfee said in a news release. "The demand for temperature-controlled warehouse space continues to increase. This expansion will allow us to provide more capacity to our current customers while providing the opportunity to reach out to new ones."
State Secretary of Commerce Mike Preston, Maumelle Mayor Caleb Norris and other local officials joined company executives for the announcement. Preston called Cypress Cold Storage "an example of how one company with a vision can impact an industry."
According to the Arkansas Economic Development Commission, the company is eligible for two incentives: the Advantage Arkansas program, which provides a state income tax credit of 1% of total payroll; and the Tax Back program, which provides sales tax refunds on building materials, taxable machinery and equipment.
The company was formed in 2019 and spent the last two years working on the expansion. It also operates a warehouse in North Little Rock.