Gulf Inland development making progress
DAYTON – A lot is happening at Gulf Inland Logistics Park as developers work to complete infrastructure projects in hopes of luring new businesses that will change the face of the local economy.
That development expanded after this week’s Dayton City Council meeting when they approved the annexation of 195 additional acres into the city limits. The Park is 1,158 acres and strategically located in the Gulf Transportation Network.
Council also approved amendments to the Gulf Inland TIRZ Project.
Those amendments expanded the term of the project from the original 25-year agreement to 30 years, taking the ending date to 2048. The development experienced a number of delays initially, with COVID- 19 and lulls by former project investors.
“ I have been working for some period of time to buy the bank out of the project there at Gulf Inland. We just weren’t seeing any progress from the bank,” said Marcus Goering, Principal of Logistics and Development Resources.
Goering oversaw operations at the Park under the previous owners for Logistics & Development Resources, LLC.
That work came to fruition when Goering, in partnership with Connor Investment Real Estate, purchased the property under the umbrella of Liberty Development Partners on June 30.
“ Since that time, we have been able to put three lots under contract,” Goering continued, “we’ve got about 62 acres of projects that will drive about $ 150 to 180 million in capital investment.”
Those projects will create somewhere north of 50 to 65 jobs.
According to Goering, those projects should be finalized by the end of the year, with construction underway in 2023.
Those projects include a biodiesel recycling facility, a lubricant blending operation and a chemical blending company.
“What we are seeing is an overwhelming number of overseas manufacturers that want to come to the U.S. and establish an operating footprint here,” said Goering.
Another amended agreement was the amount in preapproved project spending by the TIRZ for CMC Railroad. The original amount was $68 million and the updated agreement will raise that to $112 million.
CMC must fund all of the upfront money for projects, but can later be reimbursed if taxable values increase.
Gulf Inland offers road and rail access and with the opening of the Grand Parkway includes direct access to that thoroughfare.
“ We’ve got excellent highway infrastructure and two class one railroads there on site that we all feel will drive growth and job growth and opportunities for the citizens of Dayton as we move forward,” said Goering.
That future growth, Goering believes, is becoming more of a reality every day with the constant inquiries they are fielding about availability at the Park.
According to Goering, interest is high and they have recently spoken with several businesses that would bring over a billion dollars in capital investment and around 1,000 or more jobs to Dayton.
“One we recently responded to is upwards of 750-800 jobs at full employment,” Goering told the TIRZ No. 1 board at a meeting prior to council.
“There are a lot of very real significant opportunities out there on the market right now,” he said.
Goering assured both entities that along with the available area workforce, the infrastructure on the site would support heavy electric usage, high pressure gas, and, of course, the rail and road infrastructure is in place.
“ We feel great about the opportunity here to work with the city of Dayton going forward,” he said.