MAYOR PROPOSING PARTNERSHIP TO CONSTRUCT NEW SHELL BUILDING IN CITY
January 14, 2011 - Muncie, Indiana: Mayor
Sharon McShurley announced plans today to work with the Muncie-Delaware County
Economic Development Alliance to construct a new 40,000 square foot "shell
building" in the Airpark Industrial Park. The proposed site for the
building will be an 11.88-acre tract of land currently owned by the Muncie
Redevelopment Commission on Superior Drive east of Sallie Mae and South of
Keihin Aircon North America. The proposed building will be expandable to 80,000
square feet.
"The success of the shell building program over the
past 10 years is well documented. Over 1,300 jobs and in excess of $70 million
are tied to this initiative. There is no doubt that having a high quality,
flexible building gives a community a "competitive advantage" when
trying to attract new and expanding businesses offering new jobs and tax
base," noted McShurley. "This building program will be a partnership
of the City, Muncie Redevelopment Commission, and the Economic Development
Alliance. The new building will compliment the County's "shell
building" rather than compete with it. The intent is for the building to
be smaller and target companies looking for 40,000 - 80,000 SF rather than
80,000 to 250,000 SF like the county's building that was recently leased to
Magna," added McShurley.
"Leading national consultants say that between
seventy and eighty percent of companies looking to expand or relocate will look
at communities that have existing buildings first. Having a shell building can
save a company five to six months of construction and permitting time,"
said Terry Murphy, Vice President, Economic Development for the Muncie-Delaware
County Economic Development Alliance. "That time savings really is a
difference maker in many company's decision making process. In addition, the
presence of a shell building can bring companies to the community that
otherwise would not visit. In getting the company to the community we are
afforded an additional opportunity to sell other areas in the community if the
building does not meet their needs," noted Murphy.
"The attraction of new companies such as Progress
Rail, Magna, Brevini, ERCO, DSE Trucking, and Hawkins Distribution, have taken
over one million square feet of available real estate off the market,"
said Jay Julian, President and CEO of the Muncie-Delaware County Chamber of
Commerce. "This initiative will help replenish our inventory of quality
available buildings," added Julian.
McShurley stated she would like to issue a "Request
for Proposal" sometime in the next thirty days.