(Spencer)– Officials with Intercept Industries announced Friday they’ve had a change of heart and will NOT be locating in Spencer.
The company had been looking at a building in the Spencer Technical Park. But in a letter to Jim Strong, the building’s owner, Intercept Industries sited perceived delays in building improvements…saying they need to begin operations immediately.
Chad Shryock, Executive Director of the Iowa Great Lakes Corridor of Opportunity, tells KUOO news they’re obviously very disappointed by the company’s decision. Shryock says the Corridor was in the process of working on the building improvements. He says the first time the company indicated any problem with the timeline was when they returned the unsigned lease to the Corridor on Wednesday.
In addition to working on the building, the city of Spencer recently extended a sanitary sewer main to the technical park to accomodate the project. Shryock says it wasn’t a wasted effort though. He says it will go a long way toward making the park more marketable to prospective companies in the future.
Intercept Industries, a subsidiary of Polaris Industries, was planning to hire eight to 10 employees at its start-up…with that number growing to about 20 within a year.
Shryock believes Intercept has now decided to locate in Jackson, Minnesota, but he hasn’t been able to confirm that.
