The economy may be in a slump, but you wouldn't know it at the Kingman Airport and Industrial Park. City Council approved the sale of three separate plots of land in the area to businesses.
The first parcel contains 4.19 acres and was sold for $273,775 to Jasper Engineering Exchange from Jasper, Ind. Airport Authority Economic Director Robert Riley said the company plans to build a 70,000-square-foot supply warehouse on the property. In the end, the company will employ between 15 and 20 people.
A second, one-acre parcel was sold to Performance Specialists for $65,340. The company already has a facility on site and plans to expand onto the new property.
The company repairs heavy equipment and motorcycles. The new expansion will employ an additional three to five people, Riley said.
The last half-acre parcel was sold to Neuco Plastering and Stucco for $35,937. Neuco plans to use the property to expand its current facilities another 20,000 square feet. It will add 10 to 15 people to its employee rolls at the end of the project, Riley said.
Riley said while the Airport and Industrial Park has seen a slight economic downturn, the Airport Authority is still getting inquiries about land in the park.
The entire area saw a major spike in the cost of property the last several years and is just now starting to correct to the original 3-percent growth rate Kingman had before the housing boom, he said.
Riley is more worried about attracting good employees to the area. There simply aren't enough employees to allow current businesses to grow and attract new businesses.