Lebanon Valley Economic Development Corporation recently launched a new build-to-lease program in partnership with regional industrial building developers.
The program was established in response to a need in the county for buildings to lease to new or expanding industries. While there are some available existing buildings that LVEDC shows to prospective tenants, some businesses considering locating here find that the facilities do not meet their requirements.
LVEDC owns nearly 300 acres of available land in three business parks but no buildings to lease currently.
To establish a build-to-lease program to meet the needs for leased industrial space and to make the county more attractive to businesses, LVEDC teamed up with four regional industrial developers. Triple Crown Corporation, R.S. Mowery and Sons, High Construction Company, and First Industrial have been selected to participate in the program. They were selected because of their comprehensive capabilities and successful track records. Any of these firms can design, finance, and construct a building to suit the needs of business tenants at competitive lease rates.
Each time a prospective occupant of one of LVEDC's business parks requests a build-to-lease arrangement our developer partners will be invited to prepare proposals for the prospect's consideration.
The desired parcel will be sold to the developer chosen by the tenant and a new facility will be constructed by the developer meeting the tenant's requirements.
LVEDC will assist the occupant with financing or any other assistance to make the move into Lebanon Valley as successful as possible.
The build-to-lease program adds another tool to our efforts to expand jobs and tax base in the county.