Farrell Commerce Center to Break Ground Nov. 26
FARRELL, Pa. -- U.S. Rep. Mike Kelly, R-3 Pa., will join local officials Nov. 26 for a groundbreaking ceremony to kick off construction of the Farrell Commerce Center.
The 12,000-square-foot structure will be the first to be completed in Phase II of Farrell’s Keystone Opportunity Zone Hillside Development. Fastenal Co. will serve as the building’s anchor tenant, said Ken Carano of Mid American Resource Co.
MARC was retained by the city of Farrell to promote community and economic development projects, and assisted with putting together financing for the project. Future Building of America Co. in Farrell will develop and own the commerce center. FBA operates an adjacent building; the company is a building contractor and manufacturers wall panels and timber frame. It employs 11.
Financing for the Farrell Commerce Center is being provided by the city through its revolving loan fund and Bridgeway Capital, a Pittsburgh nonprofit bank. Project collaborators include Penn Northwest Development Corp. and the Shenango Valley Chamber of Commerce.
Because of growing activity in the region resulting from oil and gas shale exploration, businesses are looking for facilities “but they want places that are already built," Carano said. "They don’t want to sit around waiting for them.”
Fastenal, headquartered in Winona, Minn., distributes industrial, safety and construction supplies and offers services including third-party logistics, inventory management, manufacturing and tool repair. The company plans to double the five employees it now has with the move.
Construction of the commerce center will consume about one acre of the 4.5-acre KOZ site “so there’s a big area left,” Carano said. Additional buildings will be constructed as demand warrants, he added.
Published by The Business Journal, Youngstown, Ohio.
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