Ryder Set to Expand in Topeka
Topeka and Shawnee County’s Joint Economic Development Organization (JEDO) board approved an incentive agreement that will aid Ryder System Inc. (NYSE: R) in expanding its business in Topeka. Ryder — a leader in supply chain, dedicated transportation and fleet management solutions — will build out and manage warehouse operations and provide transportation services on behalf of one of its supply-chain solutions customers.
Previously referred to as “Project Three,” this business expansion is expected to result in an estimated economic impact locally of $500 million over 10 years, with Ryder projected to make a $2.5 million capital investment. The expansion will create up to 55 new full-time jobs. The performance-based JEDO incentive for this project is up to $373,000, resulting in a 250% return on investment.
“We sincerely appreciate the support of GO Topeka and JEDO as we expand our operations and bring more quality jobs to the area,” said Norm Brouillette, senior vice president of supply chain solutions for Ryder. “Topeka has a highly skilled workforce, and that’s critical to a company that prides itself on its people — and has for nearly 90 years now. Our people show up every day with integrity and with a fierce determination to do what we do best so our customers can focus on what they do best. We’re confident that we’ll find exceptional people in the Topeka area to welcome into the Ryder family.”
“I’m proud to see this board make another worthwhile investment in a company doing great work in the Topeka area,” said JEDO chair Aaron Mays. “There’s no doubt Ryder’s expansion will positively impact this community and the region, as they create dozens of new jobs and even more opportunities for success.”
“Topeka is a wonderful place to do business,” said Mayor Mike Padilla. “The projected $500 million economic impact associated with Ryder’s expansion is huge, and I couldn’t be more thrilled to see this company choosing to further invest in Kansas’ capital city.”
“It’s great to see a company like Ryder expand their reach in Topeka/Shawnee County,” said Molly Howey, president of GO Topeka. “The potential economic impact stemming from their investment is going to be felt throughout our community, further solidifying the strength of our local economy and the businesses operating here.”
