Local Community Development Corporations

Wednesday, December 19, 2012

Herbalife & 500 Jobs Coming to Winston-Salem

Herbalife (NYSE:  HLF) is a publicly-traded nutriution supplement company that sells its products through independent distributors - typically persons who already use their products (this is called Multi-Level Marketing and works similarly to Amway or Avon; click here for more information on similar companies). The Los Angeles based company expects $4 billion in sales this year and projects $10 billion in yearly sales by 2020. It currently sells its products in 85 countries with the U.S. market comprising less than a quarter of its sales. Click here for a link to its Investor Relations webpage.

According to their press release, the company got the Dell Plant for $22.2 million (the plant cost Dell $110 million to build). In exchange for between $10-13 million in incentives, the company will spend over $100 million on improvements to the old Dell facility located at 3200 Temple School Rd., and create 493 jobs over the next three years.  

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