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RCIDB SELLS PAWNOOK FARM ROAD SITE IN ROANE REGIONAL BUSINESS & TECHNOLOGY PARK
On December 13th, the Roane County Industrial Development Board (RCIDB) officially closed and sold a 44-acre parcel in the Roane Regional Business & Technology Park (RRBTP). This additional land was acquired by the same developer from Atlanta, Georgia, who recently purchased the Jones Road Site in 2022 to construct a 260,000-squarefoot speculative building. Before construction was complete, the building was sold to Malibu Boats in July 2023. In October of this year, Malibu and its subsidiary, Cobalt Boats, announced plans to expand their manufacturing operations in Roane County and create 770 jobs with a capital investment of $75 million.
In the proposed Phase II development, the developer plans to construct its second speculative building in the park on the newly acquired 44 acres of land and build a 220,000-square-foot speculative building. They expect to break ground and begin construction in the first quarter of 2024, with plans to have the building completed by the end of the year. The developer also has the remaining 30 acres of land at the Pawnook Road Farm Site under contract, which will be the Phase III development. They expect to close and purchase this land by the end of 2024, with plans to build its 3rd large- scale speculative building in the park.
“As President and CEO of the Roane Alliance, I am thrilled to announce that momentum is undeniably building in our county, marked by a wide range of economic development activities. Roane County is experiencing a transformative period, with businesses thriving, innovation flourishing, and our community embracing progress,” said Justin Snow.
“The partnership that we have with this developer allows us to strategically address the evolving needs of potential businesses seeking to acquire existing space rather quickly, providing ready-made solutions that can accommodate a variety of industries. Having these speculative buildings available, we position Roane County as a proactive and forwardthinking destination for businesses seeking expansion or relocation.”
This is the 4th tract of land that the RCIDB has sold this year. The RCIDB has been very successful over the past few years. In fact, since 2021, and including projects that are expected to close in the upcoming months, the RCIDB will have sold 249 acres of land resulting in over $4.5 million in land sale proceeds. All of this includes capturing $170 million in capital investment and the creation and retention of over 1,200 jobs.
The Roane County Industrial Development Board is a partner of the Roane Alliance, along with the Roane Chamber and Roane County Visitors Bureau. The Roane Alliance's mission is to create an environment and a unified voice that promotes job creation, economic development, enhanced quality of life, education, and workforce. To learn more about the Roane Alliance and its partners, please call 865.376.2093 or visit www.roanealliance.org and www.roaneecd.com.