LEE COUNTY ECONOMIC DEVELOPMENT CORPORATION Southern Base of the Research Triangle Region NEWS RELEASE FOR IMMEDIATE RELEASE Thursday, April 26, 2007 NINE OF THE 2007 FORTUNE 500 COMPANIES OPERATE IN LEE COUNTY SANFORD -- When The Pantry Inc. popped up among the Fortune 500 this year, it became the ninth member of that prestigious list to have significant business operations in Lee County. Entering at number 436 on Fortune magazine's list of America's largest corporations, The Pantry posted revenue of $5.21 billion and profit of $89.2 million during its most recent fiscal year ending on or before Jan. 31. The Pantry's corporate headquarters are located on Douglas Drive just off U.S. 421 in Sanford. Having so many of America's most prosperous companies in Lee County is a credit to the community and the attractive business climate everyone has worked so hard to create, says Bob Heuts, who directs the county's economic development office. "We spend a great deal of time and effort trying to improve ourselves and attract industry, and that's very important for our future," he says. "At the same time, we need to step back and realize what we already have. "Not only did these dynamic companies come to Sanford when they could have gone anywhere, but many of them have had so much success here that they're expanding their local operations." As evidence, Heuts points to recent expansions at Wyeth, which ranks 113th among the Fortune 500, and Moen, whose parent company, Fortune Brands, is listed at 294th. Wyeth's campus developing pediatric vaccines continues to grow, with new facilities being constructed and the company's local workforce nearly doubling in the last four years. Moen expanded its operation about three years ago, adding space and roughly 100 associates. Other expansion is planned for Caterpillar, which Fortune magazine lists as the 55th largest corporation in America. The company manufactures compact building construction machines and operates a separate logistics services center in the Lee County Industrial Park. Other Fortune 500 companies in Lee County: * Tyson Foods, ranked 86th, employs roughly 575 people at its facility producing Mexican food specialties. * 3M, ranked 97th, manufactures static shielding and moisture barrier bags in the Jonesboro section of Sanford. * Alltel, ranked 256th, provides telecommunications and data services. * Tenet Healthcare, ranked 258th, operates Central Carolina Hospital in Sanford. * Pilgrim's Pride, ranked 432nd, produces chicken products and employs about 900 people at the local facility acquired earlier this year from Gold Kist. Heuts says these large companies not only provide thousands of jobs to support local families, but plenty of other opportunities as well. "Actually, there are many benefits," he explains. "They provide a wide range of different jobs, which means opportunities for advancement, and they also attract and sustain other businesses. "Many of the smaller companies around our area are provides services to these larger corporations, so having large companies like those on the Fortune 500 list has ripple effects that benefit everyone." The Lee County Economic Development Corp. is a nonprofit organization established to attract industry, enhance job opportunities and promote sound planning across Lee County. Funding is provided by the county, as well as the City of Sanford and Town of Broadway, the two county municipalities. -- 30 -- Media Contacts Bob Heuts, Director Jane Haber, Administrative Assistant 919.774.8439 (phone) 919.775.5410 (fax) info@lcedc.com (e-mail) More on the Web LCEDC Media Web. http://www.lcedc.com/media/ This release. http://www.lcedc.com/media/releases/nr042607.txt Fortune 500. http://money.cnn.com/magazines/fortune/fortune500/2007/