| Peebles
expands its local presence
by Heather Hayes
Virginia Business
May 2005
Peebles has been a Virginia business since 1891, and
it looks like it will remain based in the state for
some time to come. After considering a move to Tennessee
or Texas, the department store chain recently struck
a deal to remain in Mecklenburg County, where it will
invest $6.5 million to expand its headquarters building
and distribution center and add 107 jobs.
Gov. Mark R. Warner approved
a $200,000 grant from the Governor’s Opportunity Fund as part of an
incentive package to encourage the company to stay
put. The Virginia Tobacco Indemnification and Community
Revitalization Commission kicked in another $275,000. “Any
time we can keep a good corporate partner, that’s
better than getting several new companies coming to
town,” says Frank Malone, executive director
of the South Hill Chamber of Commerce.
Peebles, which began in Lawrenceville, moved to South
Hill more than 20 years ago. It was acquired by Stage
Stores, Inc. in 2003 and now has 149 stores, including
33 in Virginia.
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