State grants #036;500,000 to Industrial Park
Wednesday, November 29, 2000
The State of Ohio has granted $500,000 to Lawrence County for the South Point Industrial Park, Gov. Bob Taft announced Tuesday.
The funds will assist the Lawrence County Economic Development Corporation in its purchase of the 504-acre site from Ashland Inc.
Roger Haley, park manager for the LEDC, said the funds will join with monies from the Empowerment Zone and other sources at the real estate deal’s closing Dec. 15.
It means the LEDC can take title to the land and proceed with physical development, Haley said.
A master plan of the site was finished Monday. It will be developed in phases but the first will likely be detailed engineering and other work, such as utilities and infrastructure, he said.
A number of prospective tenants are watching the deal closely, Haley added.
The 504 acres will be environmentally cleaned by the previous owners, Taft said.
The remaining 76 acres in the park are being developed by Biomass, an electric co-generation company.
The total project cost is $1.96 million.
Money for the $500,000 grant came from the Community Development Block Grant Discretionary Fund, a fund that provides for special projects and demonstration programs that are not included in other state funding categories.