Panther Creek megasite — Putting a value tender out there
by Ted Carter
Published: Apr 17,2014
Megasites can move mega worries to a CEOs and directors of companies looking to put a vital production plant or other high-cost trickery on one.
Once those worries grow to a certain indicate or dawdle for too long, a preference makers put a megasite in a folder designated for “uncertain propositions.”
A Purgatory like that is a final place mercantile developers wish to see their industrial sites languish. The choice is to accumulate information on a site so extensive and unsentimental that a site becomes as tighten to a solidly protected gamble as today’s mercantile growth section can offer.
Such is a box with Canton’s Panther Creek Commerce Center, a megasite of around 1,000 development-ready acres and scarcely 1,000 additional acres for destiny enlargement only around a dilemma from a 10-year-old Nissan plant, says Tim Coursey, executive executive of a Madison County Economic Development Authority.
Considered one of a tip accessible megasites in a Southeast, Panther Creek is marketed by several entities including Coursey’s MDEDA and CB Richard Ellis; Steve Rogers and Associates on interest of a Walker family, owners of a former cattle land; Entergy’s Business and Economic Development Division; and a Mississippi Development Authority.
Each is expected to proceed opposite prospects. But all of their pitches bring dual of Panther Creek’s categorical attributes: Standard acceptance for industrial growth and Entergy’s even aloft turn of site certification.
“With a certification,” Coursey said, “we should be means to tell we what it would cost to rise that property.”
That includes an American Land Title Association., or ALTA, survey. “This is an costly and all encompassing survey,” Coursey said. “It shows everything. Fence lines, posts, H2O lines, cesspool lines…”
The acceptance also sum mud borings, wetlands assessments, estimates on infrastructure costs, including building roads and regulating fill dirt.
“All of this is to brief circuit a time support to rise a property,” Coursey said. “You don’t have to assume on a data.”
When corporate site selectors ask a questions, “We have a answers,” he added.
Many of those answers have come by Entergy’s acceptance of a site, pronounced John Turner, a appetite company’s executive of business and mercantile growth for Mississippi.
“The whole indicate is to know a growth costs and schedule” indispensable to finish development, Turner said.
Turner pronounced inhabitant and general site selectors arrange Panther Creek Commerce Center as “one of a tip sites in a Southeast.”
In further to a megasite’s vicinity to Nissan and dual Interstate 55 interchanges, a high ranking can be attributed to a organisation estimates on a cost to growth on a site, he said.
You can’t be in a diversion unless your prospects know what their costs and opportunities are, he emphasized.
Why Panther Creek?
Coursey pronounced a Madison County Economic Development Authority recognised a thought for building a Panther Creek tract and performed a long-term choice on it. The information collection and corner offered followed.
The site has a master devise and a allege work for compulsory needing has been done. The Madison County Board of Supervisors recently committed to a $10-million bond emanate to cover infrastructure costs once a vital reside signs up. That kind of oath can be pivotal in negotiating with a site prospect, Coursey noted.
Other pivotal resources that Coursey, Turner and other marketers of a site can offer embody a entirely functioning sewage plant and a vast waterline that can be extended from a circuitously Nissan plant.
Accessibility includes 1 ½ -mile vicinity to I-55 around dual interchanges: Nissan Parkway and Mississippi Highway 22.
In all, pronounced Coursey, a megasite’s infrastructure costs can be “some of a lowest in a state when we are articulate about a high-impact company.”
While a megasite typically draws interests from a singular vast user, Coursey and a others are seeking mixed tenants as good as a solo tenant.
Coursey pronounced his group and a partners in offered of Panther Creek wish tenants that will yield “the jobs of a future.”
Specifically, he said, these are “higher paying, tolerable jobs of a future, either that is automotive retailer that has production going on or a medical device company.”
Entergy, that Coursey credits with doing some of a vital offered for Panther Creek, targets site selectors for modernized production and aerospace, among others. In going after those, pronounced Entergy’s Turner, “I consider it competes well. Once again, that goes to a accessible workforce and peculiarity of life” a segment offers.
Turner pronounced a offered also targets supply-chain companies, not only for Nissan though for companies portion automotive and aerospace companies via a Southeast region.
Nissan is seeking to pull some-more of a suppliers onto a site. This can emanate opportunities for Panther Creek, according to Turner.
“There are other suppliers that are in Japan or are in Germany that might wish to come” to a megasite, he said.
While earthy attributes of a site, workforce peculiarity and peculiarity of life are clever offered points, Entergy is also touting a low appetite costs found via a South, Turner noted.
Expect a region’s corner in appetite costs to grow in a years ahead, a appetite association executive said. “Gas and electricity are unequivocally going to be a rival advantage” over locations such as Mexico, Europe and Asia.
Coursey pronounced he is tender with a bid and resources Entergy is putting into offered Panther Creek. “They have set adult a series of visits from unfamiliar investors and consultants,” he said. “They have unequivocally upped their diversion here (in Mississippi) in a final year and a half. They have gotten genuine assertive about recruiting and marketing.”
Entergy, he said, does generally good during entertainment a comprehension and meaningful what site consultants want.
For his possess marketing, Coursey pronounced he has not been bashful about seeking for critiques from site selectors.
“We are seeking consultants, ‘What are we guys looking for? What are we missing?’”
The result, he said, is that a consultants are “telling us how to perform during a top levels.”
For now, Coursey noted, “We consider we have figured some things out. We have got to put a value tender out there.”
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