The firm developing four industrial buildings at the Dayton International Airport may be weeks away from securing its tenant for a massive, fifth facility that could bring 600 to 800 new jobs, airport officials said.
On Wednesday, the City of Dayton approved an agreement that grants NorthPoint Development a purchase option for 112 acres just north of the airport facility.
NorthPoint is currently constructing two large facilities around the airport and hopes to begin work soon on another. The company’s first facility has been bought and is occupied.
Under the agreement, NorthPoint can buy the land for about $28,429 per acre. The developer also would have to pay the city $1.3 million to help pay for infrastructure improvements on the site and surrounding area.
The property is in a Community Reinvestment Area, making it eligible for a 15-year, 100 percent abatement on the value of the improvements to the property.
On the 112 acres, NorthPoint wants to build a facility that is roughly 690,500 square feet in size and would have room to expand to 800,000 square feet, said Terry Slaybaugh, Dayton’s director of aviation.
“We are very close to signing a tenant for this building,” he said.
The facility could employ 600 to 800 workers, and even more could be added later, Slaybaugh said.
NorthPoint’s plans call for constructing five facilities featuring more than 2.7 million square feet of industrial and manufacturing space.
The capital investment in the facilities is expected to exceed $92 million, and the number of new jobs coming to the developments is more than 2,500.
And so far, the job creation has surpassed the projections.
“It’s exciting — it’s lots of jobs,” said Dayton Mayor Nan Whaley.
Spectrum Brands, which occupies the first facility NorthPoint developed, was expected to employ about 285 workers, Slaybaugh said.
But last year, the facility employed 325 full-time workers and had 285 part-time employees at their peak, Slaybaugh said. Their payroll was about $13 million last year, he said.