September 11, 2000

Lila White
(804) 692-3110

John F. Hoffner
Cost Plus
510) 893-7300 x3006
Jill Lawrence
(804) 371-0049
Cost Plus Locates in Isle of Wight County
--Governor Gilmore announces company will create approximately 160 new jobs and invest over $20 milli-

Richmond - Governor Jim Gilmore today announced that Cost Plus, Inc. will locate its next major distribution center at the Shirley T. Holland Commerce Park in Isle of Wight County. The 500,000 square foot facility, will create approximately 160 new jobs over the next 30 months and will result in a total investment of over $20 million. Virginia successfully competed with Kansas for this center.

"We are thrilled that Cost Plus is expanding eastward and chose Virginia as its major distribution hub," said Governor Gilmore. "This project will provide Isle of Wight County with valuable job opportunities and offer economic diversification."

Cost Plus, which is headquartered in Oakland, CA, was founded in 1958. The company operates 118 stores in 18 states under the name Cost Plus World Market, which feature an ever-changing selection of casual home furnishings, housewares, gifts, decorative accessories, gourmet foods, wines and beverages imported from more than 50 countries around the world. Many products are unique to Cost Plus World Market and are attractively priced to create great values.

Murray Dashe, Chairman, President and CEO of Cost Plus, stated, "We are delighted to be locating our next major distribution center in Virginia, and appreciate all the support we have received from the Governor, the state of Virginia, and particularly Isle of Wight County to help make this project possible. Additionally, our development partner, Ellis-Gibson, has established a strong track record in building quality retail distribution facilities."

"This project is extremely important to both the Commonwealth and Isle of Wight County," said Virginia Secretary of Commerce and Trade, Barry E. DuVal. "Governor Gilmore is committed to Virginia's economic development efforts and existing industry."

Governor Gilmore approved a $300,000 grant from the Governor's Opportunity Fund to assist Isle of Wight County with site preparation. The Virginia Economic Development Partnership, the Hampton Roads Economic Development Alliance, the Virginia Port Authority and the County of Isle of Wight assisted Cost Plus with its decision. The Virginia Department of Business Assistance will provide workforce training services.


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