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December 28, 2007
Melaleuca Inc. has more than made good on the promises it made when it received a $2.5 million interest-free loan from an economic-development organization in 2002, company President Frank VanderSloot says.
The Idaho Falls company has added 843 jobs since obtaining the loan, compared with 111 promised when the loan was made, VanderSloot says.
Now in its 22nd year, Melaleuca Inc. sells nutritional supplements, skin creams and other products largely through home-based businesses and personal-product presentations. The products are based on the oil of the melaleuca, an evergreen plant native to Australia. The oil has antibacterial and antifungal properties.
The company says it employs nearly 2,000 Idahoans and sold $743 million in products last year.
The loan from the Eastern Idaho Regional Development Alliance was a key reason the company built an $11 million, 150,000-square-foot distribution center in unincorporated Bonneville County near I-15, rather than in Knoxville, Tenn., where Melaleuca has operations.
Eventually, the company will relocate its headquarters to the complex.
"We're bursting at the seams,' VanderSloot said.
Melaleuca could add more manufacturing at the new location.
"We hope the RDA feels like it got a good return on its money," VanderSloot said.
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