The Ohio Controlling Board will be asked today to release $700,000 in funding for public roadwork improvements related to Speedway’s ongoing expansion of its corporate headquarters in Enon.
The request submitted by the Community Improvement Corporation of Springfield and Clark County is asking for those funds to come from the state’s Roadwork Development Grant, which supports public roadwork improvements that support the expansion or attraction of businesses.
The plan is to use that money to extend Speedway Drive in Enon by approximately 900 feet in order to connect it to Dayton-Springfield Road as a way to provide connectivity as well as a second access point to the Speedway headquarters, according to a copy of the request submitted to the Controlling Board.
In addition, a new left turn lane is planned to be constructed on Dayton-Springfield Road for eastbound traffic turning left on the new portions of Speedway Drive. The project will also install a traffic signal at the existing intersection of Speedway Drive and Enon Road.
The Controlling Board is expected to approve the request during a public meeting this afternoon. The request comes as Speedway continues work on an approximately $48 million expansion in Enon that includes a new 140,000 square-foot building, which will connect to two existing buildings at its headquarters.
“The new building will facilitate the consolidation of remote employees back to Speedway’s Enon campus,” Christian Holfinger, a spokesperson for Speedway previously told the News-Sun in an email.
“In addition to the investment in expanding the corporate headquarters, Speedway will further its commitment to the community and Clark County by adding as many as 300 employees over a four-year span,” he added.
Speedway started construction at its corporate headquarters in Enon at the end of 2018 after Clark County commissioners approved a 100-percent, 15-year tax abatement for the project. Construction is expected to be completed by this summer.
Speedway held a topping out ceremony in August to celebrate the completion of the structural steel of the new building. The exterior framing, sheathing and exterior façade were in progress to enclose the building before the end of last year, Holfinger said at the time.
The news of expansion at its headquarters came at a time of growth for the convenience store chain. Most of that growth stems from two key acquisitions, starting with $2.8 billion deal to take over the Hess retail chain on the East Coast in 2015.
Speedway’s parent company Marathon Petroleum Corp spent $23.3 billion to acquire all outstanding shares of Andeavor, a refining company based in Texas, in 2018.That move resulted in the acquisition of roughly 1,100 convenience stores.
Late last year, it was announced that Marathon Petroleum, based in Findlay, planned on spinning off Speedway into a separate publicly traded company. A Marathon spokesman told the News-Sun at the time that there were no plans to move the Speedway headquarters from Enon.
Speedway is one of the largest employers in the region and has approximately 2,500 employees locally. The convenience store chain has 40,000 employees nationally, the News-Sun reported.
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