Kimball, City Shooting For Shovel-Ready StatusPosted: Updated:
Kimball International Inc. (Nasdaq: KBALB) is partnering with its home city of Jasper to gain a "shovel ready" designation. The effort involves approximately 130 acres owned by the company. April 07, 2014
JASPER, Ind. - Kimball International, Inc. (NASDAQ: KBALB) today announced the Company’s intent to participate in a new "shovel ready" economic development project led by the city of Jasper. Kimball committed to listing approximately 130 acres of selected parcels of property the Company owns on the south side of Jasper, known as the Kimball Industrial Park, into Indiana's certified "Shovel Ready" program.
Kimball confirmed its participation in the city's plan to make application to the state's program, which is a marketing program to entice businesses to locate within designated "shovel-ready" areas. Indiana currently has approximately 100 sites. The official "Shovel Ready" designation certifies that sites are ready for economic development and provides potential purchasers with assurances the sites have been prepared in advance for construction with necessary items such as road access, environmental studies, utility infrastructure and proper zoning. Communities of any size may apply for the designation through the Indiana Office of Community and Rural Affairs (OCRA). Certified Shovel Ready sites are featured in the Indiana Economic Development Corporation's (IEDC) marketing materials.
Kimball International President and CEO, Jim Thyen, made the announcement saying, "New companies and businesses that come into our community add diversity and contribute to a dynamic, balanced economy. This project can have a tremendous positive impact and benefit to not only the Jasper community, but to the entire regional economy. We're proud to partner with the City and support Mayor Seitz and his administration's efforts to grow the population of the area. All manufacturing businesses, regardless of size, compete globally. Businesses choose their location primarily because of their markets and the availability of talent."
Thyen added, "We are proud of our long standing record as a leading employer of choice and recognize that the attitude of pride in the company and the community are intertwined. Our hope is that our continued community partnership will inspire and challenge all of us to be better, to welcome progressive competition, and to proclaim, by our actions, that our community is open for business. The Indiana Shovel Ready program moves beyond physical infrastructure and also embraces the critical digital infrastructure so important to enhancing the quality of life in our area. We are confident that progress will bring growth and future success."
The announcement was made in partnership with the City of Jasper and Dubois Strong. Jasper Mayor Terry Seitz said, "An Indiana Shovel-Ready designation within the city limits of Jasper is an exciting economic development endeavor. This partnership will draw even more attention to our community and region."
Mike Cummings, Interim President, Director of Marketing and Investor Development for Dubois Strong, noted "We intend to complete the application process this week. So far, the process looks straightforward. We hope to have notice of approval by August."
The initial costs for the application and related site surveys are being funded jointly by Dubois Strong and the City of Jasper through a grant from the City's electrical provider, the Indiana Municipal Power Agency (IMPA).
"We are proud to provide support to the City and Kimball to help market this site for future development that will further enhance its strong industrial base," said Raj Rao, President and CEO of IMPA.
This certification will increase interest from existing area businesses to relocate within the city while elevating its attractiveness for potential new companies to locate in Jasper. The Jasper site has strong potential for various types of business or industrial development, including platted acreage in larger lots as well as a number of smaller lots. The site is also appealing for its direct access to Highway 231.
About Kimball International:
Recognized with a reputation for excellence, Kimball International is committed to a high performance culture that values personal and organizational commitment to quality, reliability, value, speed, and ethical behavior. Kimball employees know they are part of a corporate culture that builds success for Customers while enabling employees to share in the Company's success through personal, professional and financial growth.
Kimball International, Inc. (NASDAQ: KBALB) provides a variety of products from its two business segments: the Electronic Manufacturing Services segment and the Furniture segment. The Electronic Manufacturing Services segment provides engineering and manufacturing services which utilize common production and support capabilities to a variety of industries globally. The Furniture segment provides furniture for the office and hospitality industries, sold under the Company’s family of brand names.
To learn more about Kimball International, Inc., visit the Company's website on the Internet at: www.kimball.com
Source: Kimball International Inc.