'Build it and they will come'
Thursday, August 23, 2012
A groundbreaking economic development event was celebrated Wednesday afternoon by New Castle and Henry County officials under blue skies and bright sunshine.
The ceremony was for a construction site where a 50,000 square-foot "spec" building will be constructed in New Castle-Henry County Industrial Park with hopes of attracting new business and industry here.
Officials stressed that the Henry County Spec Building will be designed to rapidly accommodate the facility needs of business by providing the shortest path for companies to proceed from a go-forward decision on the need for additional capacity to being in production.
"The 15-acre site plan can readily accommodate expansion of the building to 200,000 square feet," said Bob Grewe, president of the New Castle-Henry County Economic Development Corp. "This flexibility, coupled with the buyer's ability to finish the building to their specific requirements, should make the property very attractive in the marketplace."
The project is being pursued through a development agreement between the Henry County Redevelopment Commission and Runnebohm Construction. Terms of the agreement provide that Runnebohn will finance the construction of the building, while the Henry County Redevelopment Commission agrees to address the carrying costs for the facility once it is completed.
Wednesday's event was attended by a host of dignitaries, including New Castle Mayor Greg York, Rushville Mayor Michael Pavey, State Sen. Beverly Gard (R-Greenfield) and State Rep. Phil Pflum (D-Milton).
"Projects like these really are an integral part of Henry County's economic development efforts," Gard said. "It says a lot about the commitment here by local officials to make something like this happen."
"Build it and they will come," Pflum said. "In these very challenging times, these are the kinds of projects that can make a difference."
"It's an exciting opportunity for us," said Scott Hayes, president of the Henry County Redevelopment Commission. The spec building project is another indicator of the positive economic momentum in Henry County. Considering the job announcements this year and the establishment of a new Ivy Tech Campus, the spec building is an appropriate investment to continue our economic development momentum."
Officials said the spec building is expected to be completed by the end of 2012. However, Penny York, special projects manager for Henry County, stressed that timetable could be accelerated.
"We are preparing to roll out a considerable marketing campaign for the project," she said. "Between now and the completion of the project, a buyer can quickly get the building finished to meet their specific needs."
source: The Courier Times