~ Project will retain 36 jobs and create 107 direct and indirect new jobs in Northeast Louisiana ~
Lake Providence, LA — Superior Group of Companies (NASDAQ: SGC) announced today that it will invest more than $800,000 to modernize a vacant warehouse in Lake Providence, which will be used as a replenishment warehouse to support nearby operations. With the modernization, the company will retain 36 jobs and create 50 new direct jobs. Louisiana Economic Development estimates the project will result in 57 indirect jobs, for a total of 107 jobs in Louisiana’s Northeast region.
The investment will include significant upgrades to the warehouse, including the installation of a quality assurance room, new bathrooms and offices. Additionally, SGC will replace interior walls, run new wiring and add lighting. For the exterior, the company will add four shipping docks, resurface the driveway and shipping area, and replace some of the building’s exterior.
“Superior Group of Companies is adding life to Lake Providence’s Mississippi River bank, and creating economic activity as well,” said Gov. John Bel Edwards. “Our state is blessed with unique geographic resources, and I am proud to see that companies like SGC are looking to Louisiana for logistic solutions.”
With operations in nearby Oak Grove, the modernized warehouse in East Carroll Parish will be SGC’s second operation in Louisiana. The warehouse will support the company’s operations in Eudora, Ark., in addition to the Oak Grove facility.
“Thank you to LED for collaborating with SGC to grow our operations in Louisiana,” said CEO Michael Benstock. “To be able to convert a vacant facility into a location that contributes to the employment of more than 100 people, and which will have positive ripple effects throughout the local community, is an investment we are especially proud of.”
The company will begin renovations and upgrades to the Lake Providence warehouse in early 2022, with completion expected in the second quarter. SGC will begin hiring for the Lake Providence operations upon completion of renovations.
“This venture is a perfect fit for all parties involved,” Lake Providence Mayor Jerry Bell said. “It represents our willingness to support new businesses while providing jobs for our residents.”
To secure SGC’s investment in Lake Providence, the state of Louisiana offered the company a competitive incentive package that includes a performance-based $400,000 award from the state’s Economic Development Award Program. Additionally, the company is expected to utilize the state’s Enterprise Zone program
“The Lake Providence Port Commission is excited to have Superior Group’s latest expansion locate on port facilities,” Lake Providence Port Director Wyly Gilfoil said. “Superior is a great company with a proud history and outstanding future.”
About Superior Group of Companies
Superior Group of Companies™, established in 1920, is a combination of companies that helps customers unlock the power of their brands by creating extraordinary brand engagement experiences for their employees and customers. Visit www.superiorgroupofcompanies.com for more information.
Louisiana Economic Development is responsible for strengthening the state’s business environment and creating a more vibrant Louisiana economy. LED cultivates jobs and economic opportunity for the people of Louisiana, and promotes business opportunity for employers of all sizes. For more information, visit OpportunityLouisiana.com.
LED Media Contacts:
Mark Lorando, Communications Director
Ron Thibodeaux, Press Secretary