HUNTSVILLE, Ala. — Since the closure of Remington Arms last year, Huntsville’s Electronics Boulevard has been left with a large property yet to be filled by new tenants.
In July, News 19 reported that county and municipal governments across North Alabama had recovered their losses from incentives offered to the firearms-manufacturer in 2014.
The recent sale of the facility to Twenty Lake Holdings enabled the cities of Huntsville and Athens, along with Limestone, Madison, and Morgan counties to receive their $12.5 million joint investment back, along with legal fees.
There’s a giant, unused facility capable of being leased to multiple vendors that could bring hundreds, possibly thousands, of jobs to the Huntsville metro area.
So, what happens now?
“We think it’ll be sooner rather than later that it will be filled,” said Huntsville Director of Urban and Economic Development Shane Davis.
Davis and Huntsville-Madison County Chamber President and CEO Chip Cherry both noted the site was likely to be leased to multiple companies, since the property was built to house multiple types of operations.
The 800,000-square-foot facility was first built in 1988 and features manufacturing, office, laboratory, common area, and distribution on its 112-acre campus. It also includes an additional 14 acres of space for expansion.
Davis stated the city had not been contacted by Twenty Lake Holdings but plans to reach out to “showcase what Huntsville has to offer for those businesses coming from out of state” and partner with them to secure new tenants.
News 19 reached out to Twenty Lake Holdings for comment, but has not received a reply.
Davis also touched on the expected economic impact of new tenants at the vacant facility.
“With any industrial project, there is always an impact,” Davis stated, including new taxes to benefit the local education system and the county and city budgets to invest in more public impact projects. Davis said any time a new project comes to town it creates a ripple effect: new jobs for new payrolls, which then lead to more spendable income at local businesses in the area.
Cherry said his organization followed the progress of the Remington deal from the “point that it became a project to the point of announcement” and is responsible for economic recruitment and retention across the area.
Cherry said the chamber will likely facilitate discussions once again for future tenants of the property, alongside the state of Alabama’s economic team and the City of Huntsville.