Cypress Cold Storage is continuing to expand in Arkansas.
The company, which provides temperature-controlled warehouse space and value-added services for the food sector, has broken ground for a new 207,285-SF cold storage facility in Springdale, a news release from the Arkansas Department of Commerce said.
State and local officials attended a groundbreaking ceremony Monday.
The new facility will include more than 170,000 SF of temperature-controlled space, including a blast freezer and multiple convertible freezers capable of accommodating a range of temperature requirements, the news release said.
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 used in the construction of the project.
"Cypress Cold Storage is thrilled to bring this best-in-class facility to the Springdale market and continue expanding our presence in northwest Arkansas," Tony Nichols, Cypress Cold Storage CEO, said in a statement. "We look forward to providing customers with top-tier solutions and bringing even more career opportunities to the local community."
The cold storage company announced in April 2021 the expansion of a $13 million facility in Maumelle. The company was established in Little Rock in 2019 after purchasing two existing facilities in North Little Rock and Maumelle.
"This state-of-the-art facility hits the sweet spot for Arkansas. It creates new warehouse capacity for the food and beverage industry while bringing 50 jobs to an area that is a proven leader in distribution and transportation," Clint O’Neal, Arkansas Economic Development Commission executive director, said of the Springdale facility in a statement.
ARCO National Construction, which specializes in the construction of cold storage facilities, is providing design-build services for the new project.
The Springdale facility is expected to be completed in spring 2024.