KANSAS CITY, MO. — CVS Pharmacy, the retail division of Woonsocket, R.I.-based CVS Health (NYSE: CVS), plans to build a 762,000-square-foot distribution center within Skyport Industrial Park in Kansas City. Development costs are estimated at $110 million.
The 71-acre facility will be situated at 108th Street and North Congress near Kansas City International Airport and I-29. CVS Pharmacy expects to break ground on the project in January and begin operations in 2018.
The new distribution center will support the service and fulfillment needs of more than 370 CVS Pharmacy stores throughout the Midwest.
The new distribution center is expected to create more than 360 new jobs, as well as up to 100 additional jobs that will be outsourced to local businesses.
The Kansas City Area Development Council (KCADC) worked closely with CVS Pharmacy in bringing the new distribution center to the Kansas City region. Other key members responsible for attracting CVS Pharmacy include the State of Missouri, The Missouri Partnership, Economic Development Corp. of Kansas City, Platte County Economic Development Council, Cushman & Wakefield, NorthPoint Development, KCP&L, Port KC, Metropolitan Community College, Focus Workforces, IMKO Workforce Solutions, QPS Employment Group, Full Employment Council, Missouri Division of Workforce Development, UPS, Scarbrough International Ltd. and KC SmartPort.
“CVS Pharmacy’s decision to locate this regional distribution center in the Kansas City area affirms the transportation infrastructure advantages of this region and the competitive costs for distributing to the greater Midwest,” says Chris Gutierrez, president of KC SmartPort, an affiliate of KCADC focused on logistics. “We are proud to welcome this new CVS Pharmacy facility to our region.”
CVS Pharmacy is one of the country’s largest retail pharmacies with over 9,600 locations. The stock price for CVS Health closed at $78.97 per share on Wednesday, Dec. 14, down from $92.59 per share a year ago.