Montrose Economic Development Corp. launches campaign to raise funds to build indus
The Montrose Economic Development Corp. launched a campaign April 16 to raise funds to build a new industrial park through the Continuing the Legacy Initiative.
The town has four industrial parks, but none of them has enough acreage to fulfill any of the eight initial proposals the town received last year. The requests were all for seven acres or more.
One request the economic development corporation received was for a 10-acre site to locate a 70,000-square-foot medical facility that would employ more than 200 people, but it was unable to identify a specific parcel.
“We really need to have something to offer,” said Reed Benson, project director for the corporation.
The five-year plan has an estimated cost of $2.5 million. So far nearly $1.2 million has been raised by the city, county and private businesses. The fundraising plan is scheduled to take eight months, and it is half over.
The economic development corporation estimates 250 primary jobs will be generated by the industrial park, and an additional 200 jobs will be indirectly created.
The corporation launched the campaign by speaking with potential investors; around 85 local businesses owners and elected officials attended.
The keynote speaker was Howard Benson, CEO of National Community Development Services of Athens, Ga. His speech highlighted results similar communities have had with these multiyear plans. He said in a healthy economy, areas where the locals have taken initiative grew at 11.4 percent compared to the 4.4 percent national average.