MIAMI COUNTY - Hilo Property Development has announced plans to purchase a Miami county-owned shell building. The Kokomo Tribune reports more than $44 million will be invested into the facility to house a medical manufacturing company that officials say will employ around 40 people.

The company hasn't been named yet, but it is reported that operation could start in November. The move follows approval from the Miami County council of $2.75 million in funding to build the shell building in 2015.

Hilo Property Development plans to purchase the facility in August, along with 20 acres of land for $2.775 million, according to the publication. The company says it plans to expand the existing facility by 30,000 square feet and construct areas for production, research, office and shipping and receiving.

Jim Tidd, executive director of the Miami County Economic Development Authority told the publication the building is a good fit for the company because it could be expanded easily, is near major highways and has access to the runway at Grissom Air Reserve Base.

“They’re excited as much as we are about the potential of the shell building and what it has to offer,” he told the publication.

To read the full story from the Kokomo Tribune, click here