A 180-acre parcel of Box Elder County farmland looks to be converted into industrial buildings, and it has available tax incentives to boot.
Last month, the soon-to-be-built White Rock Business Park in Willard was approved to be part of the Utah Inland Port Authority’s Golden Spike Project Area, according to a news release from national commercial real estate firm JLL.
The land is being marketed via JLL, which is advertising the site as land-for-lease, sale or build-to-suit development. The listing says plots can range from 15 acres to the entire 180 acre site. JLL and the Farmington-based Millstream Partners are partnering on the project, as the latter company owns the site and will develop it.
“As Utah experiences an uptick in manufacturing employment, White Rock Business Park represents a significant opportunity to attract and retain high-quality industrial users in Northern Utah,” Wick Udy, vice chairman for JLL’s Salt Lake City office, said in the news release. “Its inclusion in the Golden Spike Project Area will be an unparalleled advantage for interested tenants. This region is experiencing growing economic impact and emerging as a hub for logistics, manufacturing and innovation.”
At approximately 600 W. 800 North in Willard, White Rock would be located just to the east of Interstate 15 and north of a Flying J Travel Center an on/off ramp to the interstate. The business park would also be the southernmost area included in the Golden Spike Project Area, as all other areas in the project are north of Brigham City.
With its inclusion into the Golden Spike Project Area, White Rock would be eligible for the state’s Rural Economic Development Tax Increment Financing program, according to the news release. The rural TIF program means the business park would be eligible for up to 50% of new state tax revenue generated from the development that could be given out in the form of tax credits, according to the state.
A map of the Golden Spike Project Area with project boundaries depicted in blue. The White Rock Business Park is not included in the map, as it’s located south of Brigham City. The yellow areas depict municipalities. Image via Utah Inland Port Authority
“We are thrilled about our partnership with Willard City and their inclusion in the Golden Spike Project area,” Stephanie Pack, Associate VP of Business Development for the Utah Inland Port Authority, said in a news release. “The tools UIPA brings to the table will enable the City to be proactive about their economic development rather than reactive.”
The land is shovel-ready and zoned for industrial use, as JLL news release describes the site as offering, “premier accessibility for industrial users seeking large-scale, incentive-eligible land opportunities in Northern Utah.”
Box Elder County is already home to a number of large, industrial sites for varying industries, including Northrop Grumman, AutoLiv, Procter & Gamble, Nucor Steel, Vulcraft and Post Malt-O-Meal to name a few.
In addition to the Willard site JLL has a number of listings on the market, including industrial land available in the recently-annexed Northpoint area of Salt Lake City.
0 Comments