A third-party logistics firm headquartered in Chattanooga, Tennessee, has announced plans to expand into Wilmington.
Steam Logistics aims to be operating in Wilmington by early September, according to company spokesperson Malcolm Harris. The firm is still finalizing the location for its new office space, which it plans to open with five to 10 employees, growing to 50 in the first few years, Harris said.
Founded in 2012, Steam Logistics provides international and domestic transportation solutions to more than 2,500 customers, according to a press release. Last week, Steam Logistics was named on the Inc. 5000
, a ranking of the nation’s fastest-growing companies. It landed No. 531, charting a 1,117% growth rate between 2018 and 2021.
Just days after announcing its expansion into Wilmington, the firm also announced it will take root in Charleston, South Carolina. “While many firms are currently experiencing layoffs, Steam is experiencing record growth, opening four new branches this year in Des Moines, St. Louis, Kansas City, and Atlanta, with plans for several more,” company officials stated in a news release.
Last year, Steam hired more than 400 employees and opened branches in Minneapolis, Birmingham and Detroit. Companywide, it employs more than 800 people.
The firm believes it has created a “new template” for what third-party logistics (3PL) providers look like, Harris said.
“Our new template is one that offers a unique service offering of international, drayage and domestic services all while embracing our unique company culture,” Harris said, adding that the bulk of its business is brokerage-related.
Steam Logistics’ announcement comes as other 3PL companies are expanding or also establishing bases in Wilmington. Savannah-based Port City Logistics is planning
a large warehouse facility at the Port of Wilmington and will soon open brokerage offices downtown and local firm MegaCorp Logistics is amid a multi-year hiring spree