In Goodyear, PepsiCo Beverages North America held the grand opening of its newest Valley warehouse on Thursday, which saw more than 300 employees and community members in attendance.

PepsiCo Inc. (Nasdaq: PEP) signed a lease for one of the newest projects within PV303, one of the city's largest master-planned industrial centers in Goodyear, for a 237,347-square-foot building at the Gateway 303 project last year.

It was developed by Atlanta-based MDH Partners at the northwest corner of Thomas Road and the Loop 303 near Interstate 10 at 3105 N. Cotton Lane.

The facility will be used as a warehouse to store and distribute PepsiCo's products in Arizona, said Joshua Crosman, vice president of GTM, strategy and transformation for PepsiCo. The new facility will have 275-300 jobs, about 65 of which are new hires for this facility. The facility has the capacity to hold 12 million cases of product.

"We are one of the fastest if not the fastest-growing metro valleys in the country from a Pepsi standpoint," Crosman said. "We have a very loyal consumer base here, a lot of great employees that help make that from an execution standpoint and customers we work closely with."

The company's Phoenix facility was the largest selling PepsiCo location in all of North America, and now the company is able to split its product between its Phoenix and Goodyear facilities, which allows PepsiCo to hold 50% more product in the Valley, Crosman said.

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By Audrey Jensen, Reporter, Phoenix Business Journal