Geneva County spec building a boost for economic development in rural Alabama
Officials in Hatford break ground on a 45,000-square-foot spec building that could one day house a manufacturer. (contributed)
Officials in rural Geneva County believe their job-creation efforts will receive a major boost from a new 45,000-square-foot speculative building that’s ideal for a manufacturing operation.
A ceremonial groundbreaking for the building in the Geneva County Industrial Park was held this month. Construction on the structure, near the Air Performance Inc. facility, should be completed in early 2021.
“We want people to know that Geneva County is open for business,” said Toby Seay, Geneva County Commission chairman and probate judge.
The spec building is being made possible through a funding partnership between the Wiregrass Electric Cooperative (WEC), the PowerSouth Energy Cooperative and the Geneva County Commission.
“We’re happy to be in a position to partner with PowerSouth Energy Cooperative and the Geneva County Commission to bring this facility to Hartford,” said Brad Kimbro, WEC’s chief operating officer.
“This has the potential to change Geneva County. We’re always investing in opportunities to improve the health and well-being of our communities,” Kimbro said.
An image from a drone aircraft shows work proceeding on site work for a spec building in the Geneva County Industrial Park near Air Performance Inc. (contributed)
Rural development
Greg Canfield, secretary of the Alabama Department of Commerce, commended the WEC and its partners for pursuing their strategic economic development goals through the construction of the spec building.
“Rural areas face their own specific challenges when it comes to economic development, so it’s critical that community leaders work together to provide smart solutions that can result in job creation,” Canfield said.
“In Geneva County, that is exactly what is taking place.”
The Alabama Department of Commerce has embraced rural economic development as a pillar in its overall economic development strategy for the state.
Over the past year, the department’s rural development manager, Brenda Tuck, has worked with rural counties to emphasize the importance of having sites and buildings ready for occupancy so that they can better compete in the development process.
“We are always excited to see these projects coming together through the great partnerships that we have in our rural areas,” Tuck said.
“Many of Alabama’s great products are already being made in rural Alabama; with the addition of spec buildings like this one in Geneva County, rural Alabama continues to be poised for even more success.”
Brenda Tuck, rural development manager for the Alabama Department of Commerce, works with rural counties to emphasize the importance of having sites and buildings ready for occupancy. (Dennis Washington/Alabama NewsCenter)
Facilitating growth
Economic developers know that most businesses considering a job-creating relocation or expansion project look for existing building space. Realizing the Wiregrass area lacked available buildings, WEC utilized a program from its generation and transmission cooperative — PowerSouth — to initiate the construction project in Hartford.
PowerSouth has operated a Business Development Loan Program, which funds the construction of spec buildings, for more than two decades. The Geneva County facility will be the 23rd project funded through the program; all but one of the previous 22 buildings have been occupied.
“PowerSouth is committed to the communities it serves. We work with our members to educate them on the opportunities that are out there,” said Caleb Goodwyn, a PowerSouth community development and financing representative.
“The majority of companies that come to Alabama are looking for existing space. It’s exciting to see growth like this,” he said.
Under the program, PowerSouth will fund 50% of a building’s cost, up to $600,000. PowerSouth members like WEC must contribute 25% of the costs, up to $300,000, while other community interests fund the rest of the project.
“The Geneva County Commission has set economic development as one of its priorities, and one of our major goals was to construct a speculative building,” Seay said.
Andalusia-based PowerSouth has assisted member cooperatives with this economic development program since 1997. The utility joined Coosa Valley Electric Cooperative and the City of Lincoln in Talladega County last year to construct its second 100,000-square-foot spec building at the Lincoln Industrial Park. Since the program’s inception, PowerSouth and its member cooperatives have invested more than $10.5 million in the communities they serve, resulting in the creation of more than 2,000 direct jobs.
Alabama Power also has a spec building program, which it has operated since 1991. The utility joined with partners in Talladega County last year to construct a 60,000-square-foot spec building in Sylacauga.
This story originally appeared on the Alabama Department of Commerce’s Made in Alabama website.
