ZANESVILLE − The Zanesville-Muskingum County Port Authority will build a 201,600-square-foot Class A commercial building configured for light manufacturing/warehouse space at 305 Prosperity Parkway in Zanesville.
A $4 million loan from the Ohio Department of Development through the Rural Industrial Park Loan program will assist in financing the $17 million dollar project.
The loan program promotes economic development by providing low-interest direct loans to eligible applicants for financing the development and improvement of industrial parks and related off-site public infrastructure improvements. It’s part of ODD’s efforts to boost businesses and enrich communities.
More than $10.5 million was released last week by ODD through either the Regional 166 Direct Loan program, the Roadwork Development Grant (629) program, or the Rural Industrial Park Loan program.
“It’s very exciting,” said Matt Abbot, executive director of the Zanesville-Muskingum County Port Authority, who expects construction to begin later this year. “This has been ongoing for quite some time now. It will provide our community with a true asset that meets the true demand for speed to market.”
Building details and impact
The total project cost is $17,215,876 million. Abbott said the $4 million from the state joins another multi-million grant expected from the state that is still to be announced. Marker Development will chip in whatever remains, he said.
The new building is expected to be completed sometime in 2026. It will feature 20 dock doors, two drive-in doors, 32 feet clear height, precast concrete walls, and the ability to expand trailer parking on an 11.5-acre parcel within the 200-acre National Road Business Park. It will create at least 50 full-time equivalent jobs at the project site.
“What dictates to us what our needs are as a community is what the business community is telling us they need,” said Abbot. “We don’t have a lot to offer in commercial and industrial building space. We recognized the void in that. And we had missed some (business) opportunities because of that.”
Abbot said the new building will not only help to attract new businesses to the Zanesville-Muskingum County area, but it will also help existing businesses grow and expand.
“We have to have this type of stick in the community to give them an opportunity to grow and not have to relocate out of state,” said Abbot. “That’s the number one goal of our organization is business retention and keeping the companies we have and ones that are in growth mode.”
He said the building is unique regionally as well, and will assist other companies outside of Muskingum County, should there be a need.
“It’s flexible for what can be stored there,” said Abbot. “It could house one company or it could house multiple companies.”
He said there’s a unique opportunity for companies who come in early and sign on for space while the facility is being built.
“Interested parties would have an opportunity to cater the facility to a way that’s more conducive to their operation and business,” said Abbot. “As we break ground and start construction, we will have a lot of leads and a lot of interest.”
This article originally appeared on Zanesville Times Recorder: $4M loan will help Port Authority construct building with warehouse, manufacturing space
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