Business & Industry Park Opens Door to Many "Possibilities"
Wednesday, October 29, 2014
While purchasing 134 acres of land for the potential of a new business moving to the county or a current business expanding may seem like a leap of faith, it’s actually safer than doing nothing.
“Ultimately, the status quo is the worst case scenario,” PCDC Executive Director Monica Boyken said. “By strategically marketing the land, we open up possibilities for growth, the possibilities for new jobs and possibilities to expand tax base.”
Monica said one of her favorite phrases is, “what’s the worst that can happen?”
For now, there is little risk as the ground will continue to be farmed by the producer who was previously renting it, and PCDC will earn cash rent and pay taxes on the ground.
“Producing a crop off of 134 acres of land is a commonplace activity here in Phelps County,” she said “With PCDC paying property taxes on the land, nothing has really changed.”
Last December PCDC started the process of marketing the134 acres to site selection consultants. With land ownership imminent in early 2014, Monica Boyken took the first brochure to one-on-one meeting with two prominent site selectors. Special ads were recently placed in a site selection magazine.
The magazine or journal, Trade & Industry Development, is the leading publication dedicated to site selection. Monica said each issue has a unique, targeted circulation matching the editorial focus of the issues, so the message is delivered to specific industry targets.
The Phelps County site was promoted in the “Advanced Manufacturing” issue and will be placed in the “Supply Chain Management & Logistics” issue later this year.
Phelps County development staff and volunteers are taking their time naming the site for better marketing and branding.
“Branding is about getting prospects to see you as the only one that provides a solution to their problem,” Monica said. “The name of our business park can be used to deliver that message clearly, enhancing our credibility and connecting us with prospects emotionally.”
The site may also help existing Phelps County businesses who are looking to expand.
“This land is not only available for recruiting a new business,” she said. “It’s available for the expansion of existing businesses or entrepreneurial startups.”
Officials from the Briggs & Stratton Corporation that recently purchased Allmand Bros. have said that having the Business & Industry Park land available was one of the factors in their decision to make an investment in Phelps County.