Clermont County officials soon will move forward on a plan for private redevelopment of the former Ford Transmission plant, which closed in 2008 in Batavia.
The devastating move cost the county over 1,700 jobs, but local officials are working to turn the building into a multi-use tenant facility. The plan got a boost when the state announced in August it would loan Industrial Realty Group Batavia (IRG) $6.1 million from the Ohio Enterprise Bond Fund. The loan rate is yet to be determined for the 14-year term, and the bonds are scheduled to be sold in November, according to Clermont County.
The funds will go toward buying and renovating the 1.8 million sq. ft. plant. The renovation is expected to create 85 jobs at the 230-acre site.
“This is a significant move forward for Clermont County,” said Clermont Board of Commissioners President Ed Humphrey. “There is no other space of this size and quality available in the Greater Cincinnati region at this price point, making it a significant asset to the county’s economic development portfolio. We are confident that this property will be well positioned for a viable future that will bring new jobs to Clermont County.”
IRG Batavia, a division of L.A.-based IRG, chose to invest in the spot because of its size, existing infrastructure and “environmentally clean status,” according to county officials. It will be marketed to large companies looking to start new operations in multiple regions or states. IRG owns more than 50 million sq. ft. of industrial and military space across the county and in other parts of Ohio.
Writer: Feoshia Henderson
Sources: Ohio Department of Development and Clermont County Communications Director Kathryn Lehr
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