Port authority to assist with new $33 million project

Developer IDI Gazeley continues construction at the business park Park North at Monroe, including a speculative commercial building and an auto parts plant for UGN Inc. NICK DAGGY / STAFF

Developer IDI Gazeley continues construction at the business park Park North at Monroe, including a speculative commercial building and an auto parts plant for UGN Inc. NICK DAGGY / STAFF
Business
By Larry Budd
Feb 9, 2017
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The Warren County Port Authority is expected to approve leases this afternoon with the owner of a Monroe industrial park that is expected to save the company more than $500,000 on construction of a 755,000 square foot warehouse and distribution center.

IDI Gazeley is expected to spend $33 million in construction on what would be the fourth building in the industrial park off Ohio 63, east of the Interstate 75 interchange.

“IDI has been a great partner,” said Martin Russell, executive director of the port authority.

The port authority, an independent entity formed by the Warren County Board of Commissioners to encourage economic development, would lease the 51.2 acres beneath the building site from IDI and lease IDI the building, avoiding sales tax on construction that would otherwise be collected by the county and state.

RELATED: 2015 record year for business investment in Warren County

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Larry Budd