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Matters relative to CoLinx
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SUMMARY:
CoLinx is planning an expansion of their facility at their current location rather than at an alternate location on Wyatt Court, as previously discussed with Council. Ed Camera will make a presentation to Council to review their facility and their plans.
CoLinx proposes to expand the Crossville distribution facility by 210,000 s.f. with a proposed investment of $6,500,000 in new building construction and $2,500,000 in warehouse equipment on Genesis Road to accommodate current and future business opportunities. Without this expansion, the Crossville facility will not be competitive when the current lease expires in 2017. Studies indicate that the costs of a move outside of Tennessee, at the end of the facility lease in 2017, could be recouped in 2 years or less through lower employee costs, lower rents and economic incentives. When the expansion is completed, 65 full time employees will be hired within 30 days. Further, the entire Genesis facility will be leased through 2027, 10 years beyond the current lease. In short, the expansion assures that CoLinx and the associated $60 million economic benefit stays in Crossville through 2027. CoLinx needs State of Tennessee commitment by February 15, 2013 to gain final approval for the expansion project.
Rationale for the Fast Track request and associated benefits:
The following excerpt from the PER provides background for the Fast Track request for infrastructure assistance:
"Both the stream and wetland on the proposed expansion site have been previously disturbed and redirected due to past commercial and industrial growth. Industries and businesses within the upstream portions of the watershed that discharges onto the site have redirected and shifted the flow of storm water causing all of it to outfall at its current location, channelize, and form its current flow pattern. The stream and wetland area is surrounded by fill and is fractured due to past grading...
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