MOVING FORWARD Plans nearly complete for airport business park
Construction could begin on a new business park in Jamestown this summer.
Steve Aldinger, project engineer for Interstate Engineering, told the Jamestown/Stutsman Development Corp. Board of Directors Monday that project plans were nearly complete for the airport business park. The planned park would be west of Jamestown Regional Airport and adjacent to N.D. Highway 20.
Plans will also be reviewed by the Jamestown Regional Airport Authority on March 21. If approved, advertisements for construction bids would be placed on March 23 with bid opening scheduled for April 17, Aldinger said.
The JSDC is still seeking some funding for the project.
The city of Jamestown and Stutsman County approved $2.8 million in funding for the project in August. Revised engineer’s estimates for the project now place the cost at $3.36 million Aldinger said.
Corry Shevlin, business development director for the JSDC, asked that the funding for the project be increased to $3.5 million to allow for contingencies and change orders. The project includes streets, water, sanitary sewer, storm sewer and street lights for the business park.
''We already have one prospect.
business CORRY SHEVLIN development , director, Jamestown/Stutsman Development Corp.
The city of Jamestown would furnish $2.8 million while Stutsman County would contribute $700,000 to the project, if the increase is approved.
Shevlin said the airport would lease the land to the JSDC which would in turn lease the land to businesses. The cost of the infrastructure would be added to the lease costs of the business.
The land would be rented to farmers until development occurs in the business park.
The project includes about 90 acres of leasable land, Aldinger said. The project map does not include any lot lines at this point, allowing future developers to determine what size lots are needed based on the projects.
“We already have one prospect,” Shevlin said. “But it’s too early in the discussion to speculate on what could happen there.”
In other business, the JSDC Board approved Flex PACE interest buydown loans for R & B Motorsports and Dallman Striping, existing businesses looking to expand in Jamestown.
Flex PACE Interest buydown loans are made in partnership with the Bank of North Dakota and reduce the interest the business pays on its loans. The loan portion made by the JSDC is repaid at the end of the loan. The funds from the Bank of North Dakota are a grant.
The JSDC also approved a New Jobs Training Fund loan of $25,000 to Thyssenkrupp Materials, which has constructed a warehouse in Jamestown. The New Job Training Fund loan is repaid with the state income tax withholding of the employees of Thyssenkrupp Materials.
Thyssenkrupp is anticipating eight employees. The loan would be repaid over 10 years at a 1 percent interest rate.
The JSDC sent a request to proceed with advertising for an employee to operate the Small Business Development Center back to committee to confirm how the position would be funded.
The SBDC offers consulting services to new and expanding businesses. The program is partially funded from the Small Business Administration.
The South Central Regional Council ceased to operate the SBDC this fall. The JSDC is considering offering the service.