County Manager Tony Brown said today the county has ceased negotiations with FASTA and asked Economic Development Director Cathy Scott to market the building in Littleton.
Brown said the company was supposed to be operating by the end of June. As the date drew closer, “Nothing was happening.”
The county manager said he believes the economy was a factor. “It’s just a matter of getting the right company.”
Brown said there is a challenge to marketing a building nearly 20 miles from Interstate 95 and about the same distance from Interstate 85, he believes there is a company that would love to have the building. “It’s just the challenge of it. It’s positioned evenly between the two interstates.”
The company said it would create about 100 jobs and invest $2.5 million.
Before that proposal, Window Fashion Resources planned to invest $1.55 million and create about 100 jobs.
Plans for that business were also scrapped.
Scott told rrspin.com this afternoon FASTA could not complete its financing. “The agreement they had was they were to reach certain milestones by June 30.”
When that didn’t happen the county got the building back. That doesn’t mean FASTA can’t come back with a proposal once it is able to finance the deal, Scott said.
Until then, however, she is aggressively marketing the building, which the county bought for $250,000. Upgrade of the building was done through $750,000 in grants.
The grant money does mean the county must find a client to create jobs and Scott believes the county will eventually find a client. “I believe it’s an excellent location between Interstate 95 and Interstate 85. It’s a good manufacturing facility. We’ve had some interest in it.”
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