Augusta County January Update & Focus: Augusta County continues to move forward in 2017 with its focus on business attraction, business retention and expansion, and entrepreneurial support. Mill Place Commerce Park, a 371-acre commercial and industrial Park owned by Augusta County and located in Verona, Virginia, is one of Augusta County’s major assets for supporting these economic development priorities.
After a year-long analysis, the Richmond-based engineering firm Timmons Group completed a comprehensive study of Mill Place Commerce Park which resulted in a new and improved Development Plan. This draft plan was presented to the Augusta County Board of Supervisors on January 23, 2017. Based on the study’s consideration of utility, environmental, transportation, and road connector factors, Timmons Group determined Mill Place Commerce Park to be nearly a Tier 4 site on the TG Site Readiness Scale.
Target sectors for Mill Place Commerce Park include Advanced Manufacturing, Food Processing and Packaging, Valued-added Agriculture and Forestry, and Life Sciences – all of which align with current Mill Place occupants and complement existing businesses that are thriving in the Shenandoah Valley. In fact, with the InterChange Group’s recent decision to construct a new facility in Mill Place Commerce Park, Augusta County is already realizing components of the new development plan.
Analyses of Mill Place Commerce Park also included data on the potential return on investment to Augusta County. Based on research data available from the Virginia Economic Development Partnership’s announcements of prospect sites from similar target sectors, Augusta County has the potential to realize a 20:1 return with future development in the Park. There is also an opportunity for infrastructure improvements to be supported by other funding sources.
To learn more about opportunities in Mill Place Commerce Park, visit SVP’s property listing here. To learn more about doing business in Augusta County, contact Amanda or Rebekah, and visit http://www.augustavabusiness.com/.