FOR IMMEDIATE RELEASE
January 18, 2002
CONTACT: Keith Taylor (757) 253-6607
JAMES CITY COUNTY, Virginia -- The James City County Economic Development Authority (EDA) has announced its intention to acquire an eleven-acre site at James River Commerce Center in the southeastern end of the County for its second industrial shell building project. The unanimous decision was made at the Authority's meeting earlier this week and was based on an EDA-sponsored consultant market feasibility and location study by Versar Global Solutions and a detailed staff analysis of the top two sites requested by the EDA. Contract preparation by the EDA and Williamsburg Developments, Incorporated (WDI) to transfer ownership to the EDA is expected to begin immediately. WDI is a wholly owned subsidiary of the Colonial Williamsburg Foundation.
Details of what the second shell building will be like will be based on the consultant's recommendations and other market factors. Both the consultant and the Virginia Economic Development Partnership have recommended a product that could be as large as 80,000 square feet and capable of being doubled. The EDA and economic development staff will retain engineering and architectural services to perform building envelope footprint and design analyses. Preliminary total project cost estimates, including the building and the required infrastructure are pegged at somewhere between $2.5 and $3 million.
A condition of the site deal is that the EDA will agree to extend approximately 1,200 linear feet of road, sewer, and water to the site. By doing this, the entire remainder of the commerce center will be opened up for development - a major factor in the EDA's decision.
"Our decision to proceed with this project at James River Commerce Center opens up 75 more acres for industrial prospect consideration", said new EDA Chairman Sterling Nichols. "Most of that acreage had already been owned by first the County, then the EDA since the early 1990's. Now we will finally have access and services to market it." The EDA and WDI have a longstanding agreement to jointly master plan, improve, and market the 220-acre commerce center, the WDI property being at the front of the project and the EDA portion at the rear.
Bruce Goodson, Roberts District Board of Supervisors member and in whose district the proposed second shell building project is located, added, "Putting an industrial shell here [James River Commerce Center] will benefit the entire Skiffe's Creek Industrial Area. It will result in more prospect visits to the area, including nearby industrial properties such as GreenMount Industrial Park and the Skiffe's Creek Industrial Park." State economic development industrial prospect data historically demonstrates that 75 to 80 percent of all prospect inquiries begin their searches by wanting to see existing buildings, however many of those ultimately wind up on a nearby property in a building done especially for them.
James City County scored a major economic development success with its first shell building project at Stonehouse Commerce Park, a 220-acre light industrial park at the opposite end of the County. According to County Administrator Sandy Wanner, "Our first shell building, a 60,000-square foot product announced in October of 1994, not only opened up the park, but was directly or indirectly responsible for the attraction of four new industries to the County, generating nearly one-half million square feet of new building space, more than 600 new jobs, and new taxable capital investments in excess of $87 million." The first shell building was sold to BP Solar in July of 2000.
"My staff and I appreciated the support of our County and EDA officials for our first shell building experience and the fact that they are willing to support another similar venture", said County Economic Development Director and EDA Secretary Keith Taylor. "It [the first shell building project] was a textbook example of all the things a shell building can do for your community and did do for ours. We will work hard to see if we can repeat this success."
An added marketing tool to help promote the sale of this shell building will be its location in the State-designated James River Enterprise Zone. Codified State and local inducements in the form of grants, tax credits, and permit fee waivers are available for qualifying industries locating or expanding inside the zone.
Design and engineering work on the new building and required infrastructure are expected to begin this spring. County officials hope to have construction completed by summer of 2003.