MEDIA ADVISORY

Mayor: Jennifer P. Dougherty

Contact: Heather Galbraith John Simley, PR Manager, Home Depot
Phone: 301-698-8118 770-384-2792
Date: September 30, 2003

IMMEDIATE RELEASE

Home Depot Announces New Store on Golden Mile

Home Depot announces the opening of a new location on the Golden Mile. The new store, slated to open in the spring of 2004, will occupy the former Ward’s building at the Frederick Towne Mall.
Home Depot will invest $4 million in renovations to the property, expanding the current 113,089 square foot to include a 16,700 square foot garden center. The store will bring 120 to 150 jobs in the area, of which many are new positions and two-thirds will be benefited full-time employees.
“The people of Frederick have responded so overwhelmingly to Home Depot that it has put us in the position of requiring a second store, simply to meet the growth in demand,” said Scott Freeman, regional vice president for Home Depot. “And because this represents a multi-million-dollar investment, Home Depot is casting a big vote of confidence in the future of Frederick.”
Founded in 1978, The Home Depot is the world’s largest home improvement retailer and is the second largest retailer in the United States, with fiscal 2002 sales of $58.2 billion. Frederick’s first Home Depot store opened in August 1998.
“This is a great commitment by Home Depot to have a second store opening in Frederick,” says Mayor Dougherty. “We know they will be very successful.”

Home Depot marks the third major anchor retailer to locate on the Golden Mile over the past year. With the announcement, the Golden Mile comes one step closer to reestablishing itself as a vibrant retail corridor in the City - a priority of the City.
The combined capital investment of the four major rehabilitation projects - Boscov’s, Rice Auto Center, Wolf Furniture and now Home Depot - totals $19 million in private investment on the Golden Mile over the last nine months.
According to Richard Griffin, Director of Economic Development for The City of Frederick, “The announcement by Home Depot signals a renewed viability and retail strength along the Golden Mile, and together with Boscov’s and Wolf Furniture, marks a turning point for this key retail corridor.”