WARREN Experts: Building to induce growth
THE VINDICATOR, YOUNGSTOWN
Officials also plan to recognize an investment company for its 67-acre donation.
By CYNTHIA VINARSKY
VINDICATOR BUSINESS WRITER
WARREN -- Area development experts are trying out an age-old home builders' strategy to spur new business development for Warren Commerce Park.
Officials from the Mahoning Valley Economic Development Corp. and the Warren Trumbull County Community Improvement Corp. scheduled a ribbon-cutting and dedication this morning for a new, 10,000-square-foot building at the Sferra Drive industrial park.
MVEDC director Donald French said the new building was was designed and built to suit the needs of prospective buyers or tenants. He said the two agencies have already received several inquiries, and officials are confident they'll have a new occupant soon.
French said sometimes development agencies get calls from business owners who need a new facility but can't take on a building project.
Past process: The agencies formed a joint venture and constructed a similar building in 1999, and Steel Valley Plastics bought the structure soon after. Proceeds from that sale were used to pay for the new building, and French said the agencies will likely repeat the process.
"We're in the business of creating jobs and business development, and this is a relatively new way to speed up the process," he said. "I think it's safe to say that we're likely to do it again."
Constructed by Warren Commerce Park Realty on a 1.8 acre site, the new building has the following business-friendly amenities:
UBuilding has 18-foot ceilings, a truck dock and a drive-in door.
UAll utilities are complete, and utilities are underground.
ULocated a half-mile from the state Route 82 bypass for easy highway access.
UCompanies requiring rail shipments can access both CSXT and Norfolk Southern railroads from the park, which is served by an industrial railroad.
MVEDC officials also planned to recognize Mash Investment Co. of Mineral Ridge today for its recent donation of 67 additional acres to Warren Commerce Park. The donation, which includes two working gas wells, brings the park's total area to 172 acres.
The natural gas from the wells has already been sold, but the proceeds from future sales will be used to help fund development efforts at the park.
French said the park has seven business occupants and was about 35 percent full before the addition of the new acreage.