updated: 1/21/2011 6:31:41 AM

[UPDATED] New Owners Have Big Goals for Former Colgate Plant

InsideINdianaBusiness.com Report

The new owners of the former Colgate-Palmolive Co. plant in Clarksville want the state to work toward designating the property a Targeted Employment Area. Boston Development Group LLC says that would help its goal of creating more jobs and increasing development through the use of foreign investment. Louisville-based Midwest Center for Foreign Investment helped put together the deal and believes eventually between 2,000 and 3,000 can be created at the site.

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Source: Inside INdiana Business

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January 21, 2011

News Release

The recently approved regional center by USCIS, Midwest Center for Foreign Investment, has helped to secure funds for the acquisition of Clarks Landing (former Colgate Palmolive plant) in Clarksville, IN. The property was purchased January 18, 2011 by Boston Development Group LLC. The town of Clarksville has worked diligently over the past three years and together with MCFI made it happen.

The offices of Governor Mitch Daniels and Secretary Mitchell Roob, Jr. of the Indiana Economic Development Council have been made aware of this transaction. We have asked them to work towards designation of this census tract area to be deemed a “Targeted Employment Area” (TEA). The ultimate goal is to create more jobs, increase development through the use of foreign investment funds.

Active International is pleased to announce that the former Colgate property located at 1410 South Clark Boulevard, in Clarksville, IN has been sold to the Boston Development Group in Sellersburg, IN, Dr. Jayeth Sheth, managing partner. Andreas V. Kissal, Senior Vice President at Active International expressed his best wishes to Dr. Sheth and his team for the successful redevelopment of the former manufacturing facility. Mr. Kissal also expressed his gratitude to the Clarksville Town Council for their support and assistance during the almost three year period from Active’s initial due diligence, acquisition and sale of the property.

The excellent working relationship developed with Mr. Greg Isgrigg, Town Council President, over that 3 year period was especially noted by Mr. Kissal.

The development of this site will have a major regional impact by embracing Jeffersonville, New Albany, Louisville, and the entire community of Clarksville. With the Bridges coming it will only help mesh both sides together.

“The purchase and subsequent development of the former Colgate plant and property will likely become one of the major generators for both job creation and entrepreneurial innovation in Southern Indiana. It will also have a very large economic impact on the entire Louisville MSA and will create important international connections as a result of the involvement of and investment from the Midwest Center for Foreign Investment. The location, size of the improvements/site and the historical significance of this property makes this one of the most important future developments in this region of the country.” Jim Baker, CCIM/Baker Commercial Real Estate

“The news that the Colgate acquisition deal has been finalized is fantastic.” Clarksville Community Schools Corporation Trustees President, Bill Wilson.

MCFI aims to secure 200-300 foreign investors that would create 2-3,000 jobs. This will encompass a broad spectrum of employment from service sector jobs to professionals.

We call upon international community in metro Louisville and southern Indiana to bring their friends and family to invest from around the world and make Louisville MSA their home. If you are interested in having your friends or family to get permanent residency and US citizenship through investment based immigration also known EB-5 visa program contact Ms Katherine Johnson( K.Johnson@MCFIUSA.com ), Dr Robert Robbins(R.Robbins@MCFIUSA.com ) or Dr Jay Sheth (J.Sheth@MCFIUSA.com) or visit our website www.MCFIUSA.com.

Source: MCFI

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