Community Renewal Good Stories - Huntington-Ironton

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New Development at The Point-A Shell Building Takes Shape

Huntington, West Virginia/Ironton, Ohio, EZ

Construction is underway on a $1.3 million, 42,000-square-foot shell building at The Point, a South Point, Ohio, industrial park. The shell building is the first of several projects planned for the 500-acre industrial park in the Huntington, West Virginia/Ironton, Ohio, EZ developable site. Economic development officials hope the park will bring several thousand jobs to the area in the upcoming years.

At the March 2004 groundbreaking ceremony, U.S. Representative Ted Strickland said, "This is yet another example of how the Empowerment Zone program can work. This community has made great things happen with the EZ money."

Approximately an acre will be under roof at the new shell building, which will also have 26-foot-high ceilings, two loading docks, and 40-foot-wide bays. In addition, the site will have 50 parking spaces.

The shell building will lease for about $2.75 per square foot, or $100,000 a year. There have already been a number of inquiries about the property, but no one has signed a lease yet. Tenants will be eligible for the many EZ tax incentives including wage credits, EZ facility bonds, reduced capital gains provisions, and special business deductions. Local officials have started an $80,000 marketing campaign for the shell building and the industrial park. Half of this communications budget was provided through State funds.

For this project, the State partnered with the Lawrence Economic Development Corporation, the economic development arm of the chamber. The development corporation borrowed $500,000 and the State provided $500,000 in funding. Another $200,000 in funding was provided by the EZ.

Construction on a $900,000 project will create a 6,000-square-foot training center and a $2.5 million project will bring infrastructure improvements including water, sewer, and road building the industrial park.

Construction on the Ohio University Southern's Point Leadership and Training Center will take 9 to 12 months to complete. In addition, the development corporation was recently notified that it would receive $70,000 in tobacco settlement money to help build roads in the industrial park.

For more information on progress of The Point's shell building and training center, as well as information on the programs of the EZ, please contact Executive Director Cathy Burns of the Huntington/Ironton EZ, at (304) 399-5454.