TIFFIN, OH (WTOL) - The city of Tiffin will invest money to build a commercial building in hopes of drawing a new business to their city.
The Seneca Industrial and Economic Development Corp announced plans to build a speculative industrial building on this open field in Tiffin's Eagle Rock Business Park.
The 50,000 square-foot building will initially cost $1 million to build. When it is completed, it will be tapped into all utilities and infrastructure.
The idea is to have the building be move-in ready to make the move for a prospective business easier and cost effective.
SIEDC points to the building that is now home to Tiffin Insulators. That building was originally built as a spec building in 2006. It stands as a successful example of why this strategy works.
"It's very much like buying a house. Most people don't want to build a house, they want to they want to get into one that is already ready," said David Zac, President and CEO of SIDEC. "When they want a house, they want it. Eighty-percent of the site searches by industrial businesses want to find an existing building. And they would like a newer one, like many of us want a newer home."
The shell of the new spec building will be complete by next summer.