Overton Commission Will Consider Purchasing Over 200 Acres Monday

The Overton County Commission will consider purchasing 210 acres Monday night for industrial development.

County Executive Ben Danner said two companies have already submitted letters of intent to purchase a site on the tract.

“One of the companies will be about a $35 million investment and close to 100 jobs,” Danner said. “The other company is going to be close to a $100 million dollar investment with 250 jobs, so that’s really exciting to get that type of investment in the county.”

Danner said the land is located on Rickman Road near the existing industrial park. Danner said the $2.3 million price tag being considered would be mostly covered by American Rescue Plan money. The remaining $200,000 would come from the county’s debt service fund.

“There is a budget amendment (on the agenda) that’s putting the federal COVID money into a fund where the land can be purchased,” Danner said. “So, they would be giving me the authority to enter into to contract to purchase and then sell the property. So, we’re looking at a purchase of the 210 acres, but we also have two companies that want to buy… one wants to buy a 50 acre tract and one wants to buy a 65 acre tract or maybe more.”

Danner said the property has been targeted by the county for a few years. Danner said a state land evaluation grant found the tract suitable for industry based on its location to the interstate and existing utility infrastructure.

“It’s been basically 20 years since the county bought any type of industrial property,” Danner said.