Wal-Mart Stores Inc. is putting together plans to build a new headquarters in Bentonville, a project that will move the company out of a building that has been home to its operations since 1971.
The new headquarters will be located on a 350-acre tract of land located on the east side of J Street between Central Avenue and Highway 102 near downtown Bentonville, according to the company.
A spokesman said Wal-Mart is the early phases of planning and designing the project but estimates a five- to seven-year timeline for completion. An estimated cost has not yet been established.
"We've been here in Northwest Arkansas for over 50 years and we're preparing now to cement the roots for the next 50-plus years," Wal-Mart spokesman Randy Hargrove said.
Wal-Mart's current home office operations include about 20 different buildings spread throughout Bentonville. The company said one purpose for building a new headquarters is to consolidate more of those operations on one campus to improve collaboration and efficiency. The company also said a new home will be an attractive tool to recruit future workers in a retail environment that is rapidly changing because of technology.
"This has been contemplated for a number of years," Hargrove said. "We believe that these new facilities are going to help us accelerate change. It's going to help us accommodate a more digitally-native workforce. More collaboration, more speed. The goal is to get the most out of our existing teams and to help us attract the next generation of talent."
Wal-Mart revealed its plans for the new campus to employees Friday morning.