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ZEBULON - Ginny Blakeney, Economic Development Director for Pike County, advised that the negotiations are final with a new business buying Tract 4 of the Pike County Industrial Park.
Negotiations were discussed in the Executive Session of the February 6, 2019 meeting of the Pike Industrial Development Authority(IDA) with the IDA voting to accept the offer from FJ Properties for Tract 4 of the Pike County Industrial Park in the amount of $135,000.00. The vote after the Executive Session advised that “the initial investment is estimated at $2 million dollars, and further due diligence by the board supports the conclusion that the business will be an asset to the County.”
FJ Properties will be building a 40,000 square foot building with a second phase of another 40,000 square foot building soon after the first building is finished. “It is a well-established business with owners and operators that fit the fabric of the community well,” said Director Blakeney. “They are very similar to K&K in their operating principles and their commitment to helping the community.” They provide and monitor the machines in gas stations that fund the lottery system.
“We anticipate that their first year or so we will see about 25k added to the digest, and after they move into phase 2 we anticipate that to be about 45k per year,” Blakeney said. She advised that this business will be very low impact to the community and that they asked for no abatement, incentives, or in-kind work to be provided by the county. They simply needed to relocate to a larger lot which the county was able to provide and in return, they will capture more commercial income for our tax base.
The property title transfer and state permit acquisition are ongoing at this time, and a groundbreaking ceremony will be in the near future.
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