By LOU WILIN
Speedway plans to invest $9.1 million, buying a building in Springfield and renovating part of its nearby Enon headquarters to add 350 jobs and retain 800 employees, the company reported.
The additions and renovations by Marathon Petroleum Corp.’s retail subsidiary will occur over the next three years. Speedway’s planned $2.87 billion purchase of Hess Corp.’s retail business in September will make it the nation’s largest company-owned convenience store chain by revenue.
“This expansion in Clark County is, in part, a result of that acquisition,” said Tony Kenney, Speedway president.
Speedway’s reach will extend from the current 1,478 stations in nine Midwestern states to 1,256 additional stores in 16 East Coast and Southeastern states. It is expected to double its $14.5 billion in sales in 2013 when it adds the Hess stores, said Fadel Gheit, senior energy analyst for Oppenheimer.
The Hess stores will be an important outlet for gasoline produced at Marathon’s seven refineries as the export market for gasoline and diesel becomes increasingly competitive, Platts Commodity News reported.
The purchase also could make Speedway’s parent corporation, Marathon Petroleum, Ohio’s largest company by sales. It already ranked second in 2013 with $100.25 billion in sales behind pharmaceutical and medical supply company Cardinal Health, of Dublin, which had $101.09 billion.
Speedway will buy a 55,572-square-foot office building in Springfield for its expanded operations. Speedway plans to make renovations at its Enon headquarters. The investments at the two locations will total $9.1 million.
“Clark County was the best location for us to expand and add these jobs,” Kenney said. “Having facilities in Enon and now in Springfield keeps our operations close together in a central location that is good for attracting talent. The community’s affordability, quality of life, great schools and health care system make it an ideal location for our future growth and, more importantly, for our employees who will be working and living here.”
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