ROGERSVILLE, Ala. – Economic growth is booming across north Alabama right now. Much of the growth is being fueled by the announced Mazda-Toyota plant under development. On the western front, the Shoals is putting themselves in prime position to bring growth their way.
The Shoals Economic Development Authority cut the ribbon on their latest speculative building Wednesday afternoon. It was strategically built in the Rogersville Business Park on U.S. Highway 72. The newly-constructed building is a prime example of a calculated risk.
“I think this end of the county has got the best chance of benefiting from what is going on in Madison right now,” stated Rogersville Mayor Richard Herston. “I think it is the utmost importance that we be ready.”
This is the third spec building SEDA has built in Rogersville. The first two are occupied, with interest already being shown for this one.
Shoals Economic Development Authority President Forrest Wright says once manufacturers decide on a location, they want to move swiftly to get up and running. Which is why this is just a shell of a building.
“It is very important that we get it to this point so that it can be modified very quickly,” said Wright.
To complement this one, a second speculative building is going up in the Research Airpark in Muscle Shoals. It should be ready by the end of the year.
SEDA says the cost to get into one of the buildings is negotiable. It all depends on the company’s capital investment. We’re told the sale price will be below market value.
The Shoals Economic Development Authority has invested $3 million in the two speculative buildings. They have already received numerous inquiries about the properties.