Lowe’s will set up a new store in Albany by the end of the year as per the City Council, Attorney Jim Delapoer and Public Works Director Mark Shepard confirmed the news.
The news has been published in democratherald.com and created much uproar.
In October, the council directed Delapoer to sketch an accord with Lowe’s that would require the home improvement company to recompense the city for tax revenues lost due to delayed construction timelines.
The unique and early plan was that the Lowe’s project would be ready by the end of 2014, but construction has not yet even started. Lowe’s first proclaimed plans to build in Albany in 2008.
A Fortune 100 company, Lowe’s is based in Mooresville, N.C., has 1,835 stores and revenues of $53.4 billion in 2013. The company has 260,000 full- and part-time employees. Stores average 145,000 square feet and a typical store stocks about 40,000 items.
The company built a $78 million distribution center near Lebanon in 2006 and 2007 that serves 85 Lowe’s home improvement stores in Oregon, Washington, California, Idaho and Alaska.
Information Reference : democratherald.com