Steam Logistics officials announced that the company will expand its existing operations in downtown Chattanooga, creating more than 400 new jobs.
Founded in 2012, the Chattanooga-based logistics business will invest $6.8 million to expand its operations into the historic John Ross building, which will adjoin Steam Logistics’ existing offices at the corner of Broad and Fourth Streets.
As one of the fastest-growing third-party logistics companies in the U.S., Steam provides integrated logistics solutions across international, drayage and domestic transportation modes to more than 2,000 customers globally.
Over the last five years, TNECD has supported more than 40 economic development projects in Hamilton County, resulting in approximately 6,000 job commitments and $1.8 billion in capital investment.
City officials said Steam Logistics will be asking for a nine-year PILOT tax break based on property improvements. Officials said, unlike with manufacturing PILOTs, the property will remain on the tax rolls on the office PILOT. The firm will continue to pay the school tax and stormwater fees.
The four-story building was earlier eyed for use by Chattanooga Whiskey and then by FreightWaves.
Governor Bill Lee said, “I appreciate Steam Logistics’ continued investment in Tennessee. The company’s commitment to creating more than 400 new jobs will have a positive impact on the residents of Hamilton County for years to come.”
TNECD Commissioner Bob Rolfe said, “Since 2016, companies in the transportation, distribution and logistics sector have invested $4.5 billion in Tennessee. Steam Logistics’ $7 million investment in Chattanooga will add to that growing number while strengthening Tennessee’s position as a leader in this industry.”
Jason Provonsha, CEO of Steam Logistics, said, “We are proud to be a Tennessee business and to call Chattanooga our home. We have seen the dramatic growth of our industry in this city, and we look forward to continuing to do our part to drive it forward and to create excellent employment opportunities for the people of this region. The investments we are making are a testament to the supportive business environment in Chattanooga, Hamilton County and Tennessee, and we are excited about the contributions we are making here.”
County Mayor Jim Coppinger said, “As Hamilton County’s logistics industry continues to thrive, we applaud Steam Logistics’ decision to be a part of the economic growth in our region. We are delighted with this expansion, which will create 400 new positions along with the promise of additional hires in the near future.”
Mayor Tim Kelly said, “With the convergence of the critical infrastructure needed to move goods in and through our region –road, rail, air, and barge– combined with Chattanooga's scenic beauty and overall quality-of-life, it's no wonder the logistics industry continues to thrive here. Freight Alley welcomes Steam Logistics. We're excited about the increase in employment and shared prosperity this expansion will bring to our community."
John Bradley, TVA senior vice president of Economic Development, said, “TVA and EPB congratulate Steam Logistics on its decision to expand operations and create hundreds of new job opportunities in Chattanooga. It’s always an exciting day when we can celebrate a company’s commitment to continued growth in the Valley. We are proud to partner with Chattanooga Area Chamber of Commerce, City of Chattanooga, Hamilton County, and Tennessee Department of Economic and Community Development to support companies, like Steam Logistics and look forward to their continued business success.”
Senator Todd Gardenhire said, “The expansion of Steam Logistics to create more than 400 new jobs is huge for Hamilton County and is a testament to our strong local economy. As one of the fastest growing third-party logistics companies, I am glad Steam Logistics has been so successful in Chattanooga, and I look forward to their continued success.”
Rep. Robin Smith said, "Congratulations to the men and women of Steam Logistics for their success and great news of expansion. I join Governor Bill Lee and the Department of Economic and Community Development in applauding the 400 new good paying jobs and investment for our community and region."
Charles Wood, VP of Economic Development, Chattanooga Area Chamber of Commerce, said, "This project represents the staggering impact our entrepreneurs can have on Chattanooga as they attract and grow world class talent and invest in our community.”