Taylor purchases spec building, hints expansion
Wednesday, July 17, 2013 1:00 AM
The purchase of the county-owned speculative building in the industrial park by The Taylor Group Inc. of Louisville was approved Monday by the Board of Supervisors without discussion.
Taylor had leased the facility with an option to purchase since 2007.
"This further entrenches Taylor into Neshoba County," said Robert Taylor, vice president of operations.
"We are thankful for the support we have received and look forward to growing in the future in Neshoba County."
David Vowell, president of the Community Development Partnership, was pleased with the purchase.
"We are thankful for the confidence The Taylor Group has in Neshoba County," Vowell said. "We are looking forward to continuing to work with them and their employees in the future."
Taylor employs 30 people at the facility here which manufacturers lift trucks.
The Taylor Group also occupies two other buildings in the industrial park, Sudden Service Inc. and a warehouse in a city-owned facility.
Sudden Services employs 55 people at the industrial park location. The facility manufactures 99 percent of service components. The machine shop services include engine transmission rebuilding, complete fabrication, machining, boring, grinding, straightening, honing and welding.
The county constructed the spec building in 2004. It was vacate until Taylor leased it on Feb. 15, 2007, for $3,833.33 per month.
The lease was set to expire in 2014.
Supervisors on Monday authorized the sale of the building to Taylor for $500,000 in addition to the $61,333.28 remaining on the lease.
Also on Monday, the board authorized payments for the remaining $91,933.14 on a TVA loan and $72,034.85 on a CAP loan from the Mississippi Development Authority.
The county secured the two loans in order to construct the spec building.