Featured Company News – Amazon to Create More Than 1,500 Jobs at Fulfillment Center in Connecticut

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LONDON, UK / ACCESSWIRE / June 12, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Amazon.com, Inc. (NASDAQ: AMZN). The Company announced on June 09, 2017, that it is set to create more than 1,500 full-time jobs at a new 855,000 sq. ft. fulfillment center in North Haven, Connecticut. The new 168-acre fulfillment center will be located at 415 Washington Avenue and is going to provide employees with opportunities such as working with advanced robotics. Amazon is currently the owner of two properties in Wallingford and Windsor, both in Connecticut. For immediate access to our complimentary reports, including today’s coverage, register for free now at:

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About the Fulfillment Center

This fulfillment center will create 1,500 full-time jobs and would offer the employees with wages which are 30% higher than any other traditional retail store. Amazon also offers multiple benefits from day one while providing bonuses and stock awards. Amazon has witnessed an abundance of talent in Connecticut and now they wish to expand and utilize this opportunity for serving customers. The employees at the North Haven fulfillment center would have to pick, pack, and ship items such as electronics, books, and toys. In order to make the task of fulfilling customer orders easier and faster for the employees, Amazon is going to equip employees with advance Amazon Robotics.

This fulfillment center is very an important economic development initiative and has been worked upon for almost two years. Amazon has plans to nearly double their Connecticut-based employees. The property in North Haven has been vacant for 15 years now and was formerly utilized by Pratt & Whitney. Amazon’s announcement would bring new development, growth, and vitality of the area. Amazon, the world’s largest internet retailer has been permitted by the Connecticut Department of Economic and Community Development’s First Five Plus Program to earn up to $15 million in tax credits if the job creation and capital investment milestones are reached.

Employee Benefits

Full-time employees at Amazon are going to receive a highly competitive pay, health insurance, disability insurance and retirement savings plans. Amazon also offers 20 weeks of paid leave, with special benefits for the growing families like Leave Share and Ramp back to provide them with stability and flexibility. Amazon also exercises a Career Choice program for the employees who wish to work on hourly basis. This program trains them for the in-demand jobs at Amazon and other companies. Additionally, the program pre-pays 95% of tuition for courses in high-demand, high-wage fields even if the skills are not relevant to a career at Amazon. For this Career Choice program, over 9,000 employees have already signed up.

Previous Projects in Connecticut

On December 24, 2015, Amazon announced the leasing of a 172,908 square feet sorting center in Wallingford, Connecticut. This center created hundreds of jobs for the state. By the opening of sortation centers, Amazon hopes to avoid shipping delays. Amazon has also launched one-hour delivery options in certain locations to increase the speed of deliveries to customers. On April 14, 2016, Amazon celebrated the grand opening of a fulfillment center in Windsor, Connecticut. Amazon currently employs approximately 2,000 people in Connecticut. In addition to the 855,000 square foot North Haven facility, the number will increase to approximately 3,800 Connecticut-based employees.

Last Close Stock Review

On Friday, June 09, 2017, the stock closed the trading session at $978.31, dropping 3.16% from its previous closing price of $1010.27. A total volume of 7.63 million shares have exchanged hands, which was higher than the 3-month average volume of 3.35 million shares. Amazon’s stock price skyrocketed 14.76% in the last three months, 26.98% in the past six months, and 34.45% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have soared 30.46%. The stock is trading at a PE ratio of 183.31. At Friday’s closing price, the stock’s net capitalization stands at $467.51 billion.

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