Developer Moves Forward With Shell Building

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Whitley RC Investments LLC is planning to construct a shell building at a key development in northeast Indiana. The 75,000 square-foot facility at the Rail Connect Business Park in Columbia City will be shovel ready. It is expected to be complete by the end of the year.

August 6, 2013

News Release

Columbia City, Ind. -- Developer Whitley RC Investments, LLC announced today the construction of a 75,000 SF expandable shell building at "shovel ready" certified Rail Connect Business Park in Whitley County.

"Based on our analysis this is both the right time and the right location to develop a shell building," said Whitley RC Investments partner Simon Dragan, "Our team greatly appreciates the welcome we have received in Whitley County and looks forward to seeing this project become successful."

Whitley RC Investments, LLC involves a partnership between Whitley County business owner Simon Dragan and Harbor Investments, LLC. The shell building will include 70,000 SF of manufacturing space and 5,000 SF of office space on a 14.77 acre lot in Rail Connect Business Park. The building will be expandable to 190,000 SF and will feature 30' eaves. RE Crosby Inc. has been selected as the general contractor for the project. CBRE Sturges will represent the facility. Site work for the project is now underway and the shell building will be available for lease or sale during the fourth quarter of 2013.

"Whitley County has lived up to its reputation as a progressive, business friendly community,” said Harbor Investments CEO Joe D’Italia, "We greatly appreciate the way Whitley County has embraced this project."

Rail Connect Business Park is a 120 acre publicly owned, master planned industrial park with rail and highway access near the intersection of US Highway 30 and County Road 600 East that has received "shovel ready" designations from the Indiana Economic Development Corporation (IEDC) and the Northeast Indiana Regional Partnership. Rail Connect Business Park is located in one of two Tax Increment Finance areas administered by the Whitley County Redevelopment Commission in the US 30 Industrial Corridor.

"The Whitley County Redevelopment Commission continues to seek opportunities to support projects that encourage new investment and job creation," said Redevelopment Commission Chairman Bill Overdeer, "Whitley County has a 20+ year track record of working proactively to support existing industry employers and to welcome new companies to our community."

Whitley County Council today approved 10-year tax abatement on the shell building at the request of the Whitley County EDC. The Whitley County Redevelopment Commission is also participating in site development and holding costs associated with the project. The Whitley County EDC will work with economic development partners to identify resources to support job creation and investment projects considering the shell building. Companies locating in Whitley County are also eligible for Foreign Trade Zone status.

"This project represents an important tool in our EDC Toolbox to support growth oriented companies locating in Whitley County," said Whitley County EDC President Alan Tio, "We will work with regional and state economic development partners to market this facility to companies in our regional target industries."

Companies already located in Rail Connect Business Park consist of Triad Metals International and Indiana Materials Processing. In summer 2011, Triad opened its newest and first Midwest facility to distribute structural steel products such as wide flange beams, mini mill hot rolled shapes, hot rolled tubing and pipe for construction, OEM's and energy related projects. Indiana Materials Processing recently opened the company's first production facility, which incorporates first-of-its-kind operational technology to produce both custom chemistry and physical property feedstock for steel mills and foundry customers.

About Whitley County EDC

The Whitley County Economic Development Corporation (EDC) is the lead economic development agency in Whitley County, Indiana.

The EDC works closely with local, regional, and state partners to support our industry clients' growth and success. Our mission is to lead a comprehensive economic development program that retains and expands employment opportunities for local residents and attracts business investment to Whitley County. The Whitley County EDC was established in 1992 and represents Whitley County, Columbia City, and the Towns of Churubusco, Larwill, and South Whitley. For more information about the EDC, visit: www.whitleyedc.com.

Source: Whitley County Economic Development Corp.