Chatham attracts more business
Another two companies want to move into the Bloomfield Business Park in Chatham.
The municipality voted on Monday night to move forward with the conditional sale of the two lots totalling 5.5 acres.
ER Steel and Raco Asset Management Corporation have bought the land for a combined price tag of almost $500,000, pending completion of the legal process.
ER Steel is a British Columbia company that is a global supplier of fabricated steelwork and is led by a Chatham-Kent native. Raco Asset Management wants to move its metal fabrication company currently located in Guelph to Bloomfield Business Park.
The plan is to join the two companies into one entity that would create 90 full-time design/engineers, project management, logistics, and sales jobs and invest approximately $17 million into the municipality.
Mayor Darrin Canniff said it’s great to see the business park almost full.
“Well, it’s getting near capacity. There are another two or three other opportunities and there are certainly people looking at it. We are hopeful over the next while we can fill that thing up. That would be awesome!” said Canniff.
Approximately 75,000 of the 120,000 square feet will be available for lease to prospective companies suited for industrial, light manufacturing and warehouse use.
The conditional agreement also stipulates that if the buyers don’t start construction within a year, the municipality has a right to re-purchase the properties at their original purchase price.