A proposed building project could entice a manufacturing facility to set up operations in Plymouth.
Marshall County Economic Development Corporation (MCEDC) Executive Director and CEO Jerry Chavez told the Plymouth Redevelopment Commission Monday night that preliminary plans are set in motion to build a manufacturing center. Chavez said the building would be similar to the facility now occupied by Pretzels, Inc. The structure would be move-in ready for any company to set up their business to best suit the company’s needs.
Chavez said the building would be constructed on a 15 acre tract across the street from Pretzels, Inc. on Commerce Drive and Pioneer Drive owned by PIDCO. The 40,000 square foot building could be expanded to about 135,000 square feet.
Chavez said with the Redevelopment Commission’s blessing, the MCEDC would seek funding for this project.
“The MCEDC will be taking out about a $1.7 million loan for this project and we’re including $400,000 from Regional Cities,” said Chavez. “The term we are looking for is probably an interest only payment and rather than 10 years we have negotiated that down to four.”
This preliminary plan will show Regional Cities that plans are in place for this facility in order to utilize grant funding.
Chavez is confident in the contractor for the project and he remains confident that the building will be occupied within two years.
A similar footprint is being developed in Argos. He did not divulge on the details but financing has been secured for a similar project there.
The Plymouth Redevelopment Commission members unanimously voted to give their support and confidence in this project. More plans will be brought before the board as plans move forward.