Dallas Fort Worth Welcomes New Fortune 500 Company to Westlake
Relocating from San Francisco Core-Mark will become the 23rd Fortune 500 company to call North Texas home. According to a transcript from Seeking Alpha, Scott McPherson, president, and CEO of CoreMark Holding Co. Inc. announced the move in an Aug. 7 earnings call.
Citing high operating expenses in the Bay area has the primary driver for the move. Core-Mark will make Westlake their new corporate headquarters during the first half of 2019. McPherson is noted as saying that the move to North Texas offers the company lower taxes, ideal operating costs, and a central location for Core-Mark’s nationwide business.
One of the Largest Convenience Store Distributors
Core-Mark is the second-largest distributor to the convenience store industry. They distribute items like tobacco products and other items nationwide to convenience stores and other retailers. With one of their biggest clients, Irving based 7-11 not far from their new location. According to their to CEO savings were not the only factor in the decision to move to the North Texas market. McPherson believes this move will be a beneficial one for the hundred or so employees currently working in their corporate office. As well put them in a better position to serve their clients.
According to the Core-Mark website, the company will be looking to hire senior SEC accountants, staff accountants, IT audit managers, corporate accountants, financial systems analysts, a manager of corporate payroll and other positions for their new North Texas location.
This move will make Core-Mark will be the 23rd Fortune 500 company based in the Dallas-Fort Worth region. As well as making DFW third in the country for the number of Fortune 500 headquarters. Putting us just behind New York City and Chicago.
Not only this a beneficial move for the company but for our area as well. We welcome the new residents and are excited about the jobs this relocation will bring to North Texas.