“You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur “ . ARE YOU READY TO SELL OR PURCHASE YOUR LAND OR COMMERCIAL BUILDING IN PHOENIX, SCOTTSDALE, MARICOPA COUNTY AND PINAL COUNTY, ARIZONA, CLICK HERE AND PLEASE CALL ME. 520-975-5207 or email me email@example.com. …. VIEW ALL OF WALTERS LISTINGS. Let me know if you are interested in Apartments: CLICK HERE FOR APARTMENTS FOR SALE
By Corina Vanek – Reporter, Phoenix Business Journal
Nikola Motor Co., a hybrid semi-truck startup, has scrapped plans to build a manufacturing plant in Buckeye and will instead build it in Coolidge.
Nikola CEO Trevor Milton said the company was looking for a way to get the facility up and running faster than the Buckeye site would allow.
“Coolidge had a shovel-ready, 430-acre piece of property with the infrastructure already in place that will shave years off our construction time,” Milton said. “We have customers like Anheuser-Busch and US Express who are ready for their trucks, and with this move, we’ll be able to deliver much faster.”
Milton said the Coolidge and the governor’s office worked with the company to find a way to get the plant built and functioning faster. Incentives offered by Coolidge were not the reason for the move, and Milton said the city of Buckeye tried to get the project moving but couldn’t on the company’s timeline.
“Ultimately, we have over 2,000 employees to hire and we had nowhere to put them,” Milton said.
Jackob Andersen, president and CEO of Scottsdale-based Saint Holdings, which owns the land where Nikola plans to build the facility, said the company approached him after it decided they wanted the plant to be functional earlier than it could have been in Buckeye.
Andersen is also the land developer of the nearby Central Arizona Commerce Park, where Lucid Motors said it plans to open a $700 million, 2,000-worker electric car manufacturing plant.
As part of the agreement to build in the Pinal County city, Coolidge is offering tax incentives for the company, including:
- 49 percent reimbursement of sales tax received by the city for the construction of the facility for a period of 10 years
- The designation of the facility within a foreign trade zone, which will reduce property tax assessment ration from 18 percent to 5 percent.
- A “local option exemption” for the abatement of the city’s portion of sales tax on the facility’s electricity costs for 10 years.
- The city will provide an annual payment of a maximum of 49 percent of the city’s portion of the property tax received from the facility for up to 10 years.
Coolidge’s city council will vote on the final version of the incentive agreement at its meeting in September.
City of Buckeye officials said they were “disappointed” the company decided to relocate the planned manufacturing headquarters.
“Nikola is an excellent company to work with and we wish them much success in Coolidge,” said Dave Roderique, Buckeye’s economic development director, in a statement. “Thankfully, the company is remaining in Arizona, and will still have positive impacts on the regional economy.”
The company is expected to finalize the site plan, engineering and financing of construction next year with building to begin in 2020, according to a report from Elliott D. Pollack & Co. to the Coolidge City Council. The company plans to receive its first certificate of occupancy in 2021 and will hire 213 employees that year.
Nikola said it plans to hire 1,762 employees with an average salary of $80,000 by the end of 2025. The plant’s construction is expected to create nearly 3,250 jobs and generate $402 million of direct economic impact, according to the analysis.
City documents show the estimate cost of developing the project, with new construction and manufacturing equipment, will be $800.8 million.
Nikola’s facility will cover about 430 acres, which will be part of a 2,700-acre industrial park Saint Holdings is planning. In total, the company owns about 12,500 acres in Pinal County.
Coolidge is strategically located for companies like Nikola, Andersen said, with quick access to railroads, freeways, proximity to Maricopa and Pima counties and water and electricity access.
“What a lot of people don’t know is Pinal County has availability of a great workforce,” he said. “We have an outmigration of 95,000 that outmigrate to Pima and Maricopa.”
Rick Miller, the Coolidge city manager, said the move will be “huge” for the city, and would make Nikola the largest employer in Coolidge and possibly in Pinal County.
Miller said much of the credit for attracting Nikola to Arizona was due to the work done by the city of Buckeye, and was glad groups like the city and the Arizona Commerce Authority worked to keep the company in Arizona.
Earlier this month, Nikola announced it had raised $105 million with plans to raise another $100 to $150 million. The oversubscribed round of funding that had been set at $200 million, gives the startup a $1.1 billion pre-money valuation, considered a unicorn in the startup world.
In June, Nikola began hiring for 300 jobs to staff its new research and development facility, which is under construction on 13 acres at 4141 E. Broadway Road in Phoenix.
In May, beer giant Anheuser-Busch announced it would order up to 800 hydrogen-electric semi-trucks from Nikola.
ARE YOU READY TO SELL OR PURCHASE YOUR LAND OR COMMERCIAL BUILDING IN PHOENIX, SCOTTSDALE, MARICOPA COUNTY AND PINAL COUNTY, ARIZONA, CLICK HERE AND PLEASE CALL ME. 520-975-5207 or email me firstname.lastname@example.org. …. VIEW ALL OF WALTERS LISTINGS.
Phoenix Commercial Real Estate and Investment Real Estate: Investors and Owner / Users need to really know the market today before making a move in owner user Commercial Properties, Investment Properties and land in Phoenix / Maricopa County, Pinal County / Arizona, as the market has a lot of moving parts today. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands Commercial Properties and Investment Properties. I am marketing my listings on Costar, Loop-net CCIM, Kasten Long Commercial Group. I also sold hundreds millions of dollars’ worth of Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with brokers, Investors and Developers. I am also a CCIM and through this origination ( www.ccim.com ) I have access to marketing not only in the United States, but also internationalClick here to find out what is a CCIM: https://en.wikipedia.org/wiki/CCIM
PLEASE CALL ME 520-975-5207 OR E-MAIL ME email@example.com
ARE YOU READY TO SELL OR PURCHASE YOUR LAND OR COMMERCIAL BUILDING IN PHOENIX, SCOTTSDALE, MARICOPA COUNTY AND PINAL COUNTY, ARIZONA, CLICK HERE AND PLEASE CALL ME. 520-975-5207 or email me firstname.lastname@example.org
- DEMOGRAPHIC FACTS ABOUT MARICOPA COUNTY:
- The average age of the population is 34 years old.
- The health cost index score in this area is 102.1. (100 = national average)
- Here are some of the distributions of commute times for the area: <15 min (22.7%), 15-29 min (36.8%), 30-44 min (25.1%), 45-59 min (8.6%), >60 min (6.8%).
Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix, Tucson, Arizona.
Kasten Long Commercial Group tracks all advertised apartment communities, including those advertised by other brokerages. The interactive map shows the location of each community (10+ units) and each location is color coded by the size (number of total units).
Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years. If you have any questions about Commercial / Investment Properties in Phoenix or Commercial / Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us.
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Walter Unger CCIM
Senior Associate Broker
Kasten Long Commercial Group
5110 N 40th Street, Suite 110
Phoenix , AZ 85018
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