OWEN - CDC Tim Swiggum distributed and discussed updates to the business park at the March 8 Owen council meeting. The city is developing a business park adjacent to Hwy 29. Currently, the city has developers agreements with two companies who plan to build there. The Business Park plan proposes to create 40-50 jobs in the respective phase one developments. Two businesses have purchased acreage in the park which is located on the east side of the city.
Jim Bohl, owner of Area Wide Concrete, Withee Tire and several rental properties in Owen, has recently purchased 15 acres in the business park and is ready to send his designs to the state for approval. According to the plan, the company seeks to develop a rubber recycling plant with an estimated investment in the city of over $5 million. The rubber recyling plant has the potential to create of 35-50 jobs. Phase 1 and Phase 2 building plans are almost complete and construction will begin as soon as the State approves the plans.
Metal Wholesale is the second business to build in the Owen’s business park. The company currently operates in Iowa and the new Owen location will provide the company more visibility as it is close to Hwy 29. It will also improve access to customers in three states. The estimated value of the new building is $1.5 million. It is projected to create 10 new jobs. During Phase 1 of construction, the company seeks to build a centralized distribution center on the north 10 acres of the business park. This center will supply lumber yards and contracted regional customers. Phase 2 construction will be within two years. They will then manufacture nuts and bolts and such products which will compliment their main business. The company plans to purchase approximately 20 acres to be sold in phases.
Infrastructure Needs of the Business Park
Both companies require roads, water mains, sanitary sewer mains and storm water management. Two-lane roads to accommodate truck traffic will be constructed along the souther border and north-south road providing access to the individual parcels. Water and sewer will need to be extended from the southeastern corner of the business park. A storm water retention pond will be developed on the southern portion.
The financing for the business park will be provided through TIF District #4. The estimated costs are as follows: construction - $1,689,000; architectural & engineering - $175.000; construction administration - $75,000; grant administration - $40,000; contingency - $110,000 and total - $2,089,000. Construction is expected to begin late summer 2022 and project closeout spring 2023.
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