Video: CDF Breaks Ground For Third ‘Spec’ Building

SHANNON, MISS. (WCBI) –  For part of their meeting, CDF Board members, along with Lee County Supervisors, took a bus tour through the Tupelo Lee Industrial Park South .

The bus ride was an opportunity for guests to see how the industrial park has grown and expanded since it was established in 1962 .

Work is already underway on the newest addition at the park, a 100,000 square foot “spec” building. It is part of CDF’s Speculative Building Program.

“This is a common practice in economic development across the country for those more aggressive communities and it’s a chance to really build diversity in your community, because building sizes are different, different types of companies need different things and it gives you a chance to fast track economic development decisions,” said CDF President David Rumbarger.

That is exactly what happened with CDF’s first spec building. Germany based Grammer AG needed to start production of components and systems for automotive interiors quickly, and CDF had a building, waiting for the right industry.

Board of Supervisors President Billy Joe Holland says the project means the county has a competitive edge when it comes to industrial recruitment.

“Anytime you can have an advantage on your competition, it means you got a big leg up, when you bring a prospect in here, they can see what they got ,” Holland said.

The 1.2 million dollar building should be finished sometime in the spring.

In the last year, nearly 900 jobs have been added in Lee County. That equates to 28 million dollars in additional payroll.