The first-of-its-kind logistics company will be one of the largest buyers of goods in the country, a company executive said on Wednesday.
The move by Boxc, which provides logistics for food, pharmaceuticals, and other businesses, will create a logistics powerhouse that could be worth up to $1 billion, said CEO Chris McGlone.
The deal is the largest ever for logistics companies, which are already valued at $5.5 billion.
McGlone said the company will use its expertise in logistics to supply food to Walmart, Costco, and Target.
He said the combined company’s capacity to supply more than 100 million packages a day would grow to 200 million a day by 2019.
The company will create more than 3,000 jobs in the U.S., where it has more than 2,500 employees, McGlones said.
The deal will also pay for a new headquarters in California.
The CEO said the logistics deal would generate $500 million in tax incentives for the company.
“We’re going to have the highest taxes in the nation for goods that we deliver,” McGlonors said.
McBride said the deal would be contingent on a deal being reached with the federal government to allow Boxc to expand its supply chain, which is already being developed.
The company will start by shipping to the U-S.
from China and India.
McBride said the U.-S.
agreement would create 3,200 jobs for Boxc employees and support the company’s commitment to its U.K. operations.
Boxc employs about 1,500 people in the UK.
Department of Commerce said in a statement it is monitoring the potential deal with Boxc.