Wednesday, May 14, 2008

Ground Broken For North Lawrence Industrial Site

State of Tennessee Economic and Community Development Commissioner Matt Kisber helped local community and business leaders break ground Tuesday for development of the North Lawrence Business Park. 

Kisber, Paul LaGrange, Assistant ECD Commissioner for Business Development and Jerry Merriman, ECD Director of Job Development for Middle Tennessee, were part of a ceremony Tuesday afternoon at the site on Highway 43 near Flatwoods Road.

The state leaders joined representatives of Lawrence County, the City of Lawrenceburg, Chamber of Commerce, Lawrenceburg Utility System, local economic development boards, and other community and business leaders in marking the start of development on the industrial property.

Plans call for an approximate 50,000 square foot industrial speculative building to be constructed on the site.  The facility would be marketed to industries seeking an immediate location, with future opportunities to expand. 

A Fast Track Infrastructure Development Program (FIDP) grant in the amount of $750,000 has been awarded by the State of Tennessee Economic and Community Development Department.  The grant will provide for extension of necessary utilities to the spec building site.  The Lawrenceburg Utility System has partnered with Lawrence County and the City of Lawrenceburg to provide matching funding.

“A special thanks goes to Governor Bredesen, Commissioner Kisber, and their entire staff for making this grant available to us,” Chad Chancellor, Executive Director, Lawrence County Chamber of Commerce said.  “An industrial park is not born until infrastructure is in place to it. I believe yesterday marked the birth of our North Lawrence Business Park." 

The spec building project is estimated at $1.2 million. Financing plans include an interest-only note to be funded by the County and City until the property is sold.  

“The start of development of the North Lawrence Business Park signals that Lawrence County is entering a new chapter in economic development,” Lawrence County Executive Paul Rosson said.  “It is our hope that the spec building will be the first of many projects to take shape on this property.”

Lawrenceburg Mayor Keith Durham said partnerships have been an important factor in bringing about the ground breaking. “The state has extended a tremendous opportunity with the grant funding,” Durham said. “The project is a true example of partnership on all levels.”

The North Lawrence Business Park is a 100+ acre tract of land acquired several years ago from Murray, Incorporated.  The industrial park property will be managed by the Economic Development Board of Lawrence County.