California residents ordering merchandise from Amazon.com (NASDAQ:AMZN) may see their orders filled more quickly. The company will open a third fulfillment center in California, officials announced Tuesday.
Amazon stock was down $2.02 per share (0.74 percent) in early afternoon trading on the New York Stock Exchange.
The center will be located in a one million-square-foot complex, leading to the creation of several hundred jobs.
The San Bernardino facility created about 700 jobs, Amazon said.
“This latest development in Tracy not only represents good jobs coming to the region but California’s strong partnership with Amazon,” said Kish Rajan, director of Gov. Jerry Brown's Office of Business and Economic Development. “This third new distribution center marks a commitment by Amazon of over 1,000 California jobs in the last year alone. We look forward to continuing our relationship with this world leading brand and hope to build more opportunities for Californians in the future.”
"At the Tracy facility," Amazon said, "Amazon employees will engage with high-end technology while fulfilling customer orders. Amazon fulfillment center jobs pay on average 30 percent more than traditional retail jobs and that doesn't even include the stock grants that full-time employees receive, which over the past five years have added an average of nine percent to base pay annually. Amazon offers full-time benefits including healthcare."
Free Stock Market Examiner email alerts
Stock Market Examiner RSS feed