Monticello Live

The industrial “spec” speculative building, which was built as a qualification for the state’s ACE program, seems to have a local industry that will likely use the structure as part of a long term lease, for warehouse space.

Hood Packaging will be adding an additional $2-4 million  product line, soon, creating 12 new full time jobs.

AEDC has committed $250,000 in forgivable loans and the City Council recently added another $100,000 in forgivable loans from the City war chest to assist with the expansion project.

This production line will bring with it the need for Hood’s warehouse space to be relocated; causing the lease of the spec building to be a solution to the issue.

Other items involved in the negotiations include the payment for (and ownership of) the railroad spur, and an access road from Hood to the spec building.

This entry was posted on Friday, September 6th, 2013 at 7:43 am and is filed under Business, MEDC. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.