A developer plans to build a massive warehouse in an eastside Greenwood business park, and city officials hope the building will attract new businesses and jobs.
Quadrangle Development Corp. wants to spend up to $14 million to buy land and build a distribution facility on Graham Road southeast of Main Street in the Precedent South Business Center. The company, based in suburban Chicago, is asking Greenwood for a tax break on the building.
The proposed building would cost an estimated $13.1 million to build and could be used as a warehouse, for light manufacturing or both, according to tax abatement paperwork filed with the city. The developer plans to build the distribution facility speculatively, without tenants scheduled to move in.
Quadrangle projects that the new businesses that move into the building eventually would bring 40 jobs and an annual payroll of more than $1 million a year to the area. But no companies currently plan to move their operations into the building, according to the city’s paperwork.