The CIC part 3 – the developer years (1980-2002)

 The series – what is the CIC all about?

PrimeOhio Corporate Park

PrimeOhio Corporate Park - Aerial

This is the third in a series explaining the role and accomplishments of the Community Improvement Corporation of Springfield and Clark County (CIC). The first post talked about the four major areas of accomplishment, as a big picture overview, from 1970 to present. The second post highlighted one of those ares that was the focal point of the CIC from 1970 to 1985, financing. In particular, it looked at the CIC’s role in Industrial Development Bonds.

The focus of this post – PrimeOhio, KTK, and other development

This post will look at the key role the CIC had–under the leadership of Larry Krukewitt (Chamber President and CIC Secretary/Treasurer), Martin Levine (CIC President), Jim Foreman (CIC President), and many others–to develop industrial parks and spec buildings. In the last decade, the CIC had a key role in the development of the Nextedge Applied Research + Technology Park and helped also with the development of Airpark Ohio, but it was not the lead developer. Nextedge and Airpark were the primary parks that came to fruition 2002 to 2009.  

Results – 500 acres, 200K sf spec, 2M sf constructed, 3000+ jobs

Overall, the CIC has developed almost 500 acres of industrial land and constructed over 200,000 square feet of speculative industrial and office space as well as the 2 million square foot Navistar plant.  This development alone has resulted in over 3,000 jobs to the greater Springfield area.

The beginning of a new developer era?

The CIC has been working, though, this past decade on developing the next park. It has spent time and resources on PrimeOhio II, Park I-675, and Park 235. Construction, though, is about to begin on infrastructure for PrimeOhio II this year, which will usher in a new developer era for the CIC, and it’s exciting because it will be the first large-scale industrial park available on Interstate 70 in Clark County. In addition, at least one spec building is scheduled to be constructed by the CIC as well in 2010, indeed a new area of activity. Of course, in 2009, the CIC also resolved the $600K+ drainage project at PrimeOhio, worked with others to get roadwork and streetlight improvements in PrimeOhio, and secured $1.5 million in federal funds towards the PrimeOhio II project. So, one could say 2009 was the first year of the second developer era.

Activities list

Here is a list of the development activities of the CIC during these years:

Spec Building (1980) – $500K, first speculative building to be built by CIC. Was built in the then new Springfield Industrial Park (developed 1976 by City with CIC involvement) to attract industry. Sold April 1980 to Bobby Fischer Distributing.
Spec Building 2 (1981) – next building built by CIC in Springfield Industrial Park (completed November 1981, sold September 1983).
International Harvester (1982) – CIC finances, packages, and builds $27M new assembly plant for IH and leases back to company, thousands of new jobs.
PrimeOhio Corporate Park (1983) – CIC begins development of 400-acre industrial park.
KTK Industrial Park (1984) – CIC develops new 40-acre industrial park on north side of County near IH.
Spec Building 3 (1984) – CIC builds third speculative industrial building in KTK Industrial Park.
PrimeOhio (1985) – CIC exercises options and purchases land for park, construction begins.
PrimeOhio (1986) – Grand opening and dedication of park, announcement of Teikuro building first facility in park.
Spec Building 5 (1986) – CIC builds new spec office building in PrimeOhio.
PrimeOhio (1988) – created PrimeOhio Owners Association, further extended infrastructure into the park, purchased additional property.
• Airpark Ohio (1991) – CIC works with City on development of new industrial park at airport.
Springfield TIF (1991) – worked closely with City too get Tax Increment Financing District in place downtown.
Spec Building 5 (1992)Emro Marketing had leased and moved into larger facility off-site. Sold to FH Bonn for $950K.
Spec Building 6 (1994) – CIC constructs new facility in PrimeOhio and leases to the company. $3.5M project.
Enterprise Zone (1995) – CIC creates Enterprise Zone at PrimeOhio to support GFS project.
PrimeOhio (1996) – CIC purchases 82 additional acres to expand the park.
.• Spec Building 6 (2000)Benjamin Steel purchases building at cost.
Miller-Valentine Building (2001) – Miller-Valentine builds 350,000 square foot facility for Vining/O’Cedar headquarters on PrimeOhio expansion ground. Park full.
Southwest Landmark (2002) – CIC sells ground at Producer’s Livestock site to Southwest Landmark.
CEDA (2002) – CIC works with Springfield Township and City of Springfield to get a Cooperative Economic Development Agreement. (CEDA) passed for PrimeOhio, whereby municipal income tax would be levied and shared.

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