Business is booming south of Phoenix.

Procter & Gamble Co. recently closed on a 430-acre site, with plans to build a two million square-foot manufacturing plant in Coolidge.

According to Pinal County records, the consumer goods company purchased the land at the Inland Port Arizona industrial park for $53.4 million in all cash in January.

The new $500 million Coolidge factory will be developed at the 2,700-acre industrial park neighboring the Nikola Corp.’s auto campus. The company will manufacture products for P&G’s fabric care brands such as Tide PODS, Downy Unstopables and Bounce Dryer Sheets.

A P&G spokesperson said the company will break ground on the factory in 2023 with operations beginning late 2025. The company is in the process of site design and general contractor decisions.