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.
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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.
The Springfield News-Sun will continue to provide award-winning coverage of Clark and Champaign County’s largest employers, including Speedway’s recent growth and how that impacts the community.
By the numbers:
$48 million: Cost of expansion to Speedway’s corporate headquarters in Enon
4,000: Number of stores operated by Speedway
40,000: Number of Speedway employees nationwide