Construction of a third speculative building in the Southeast Kentucky Business Park is well under way and the $1.6 million project is slated to be complete by June.
Site preparation for the 58,000 square feet structure is was completed last year. Principal construction began soon after on lot 10 at the park, a parcel of property located at the intersection of the Corbin Bypass (KY 3041) and what is known as the “Woodbine Connector.”
“I think it’s going to be a great location with a lot of visibility,” said Bruce Carpenter, Director of Economic Development for the city of Corbin. “It’s going to really show up well.”
The spot is a distance away from the first two speculative buildings undertaken by the park’s oversight board. They are currently occupied by Breaktime Vending and KOWA Kentucky.
G&G Contracting, of Annville, won the bid for the project over six other companies in mid-September. The low bid was $1,620,296.
The building will be the largest ever constructed in the park and will be expandable.
Speculative buildings are important to industrial recruitment efforts because companies are often looking for well-built, well-located, easily adaptable and available structures constructed with industrial uses in mind. Carpenter said the height of the building would be more than the other two in the park, which is also another feature that is desirable to potential companies looking to locate in the area.
The building has some features that Carpenter said would be desirable to potential industrial clients, including ample floor space and a high roof.