For more than a decade, Horizon Center Business Park on former Department of Energy land was all but empty.
But in the space of a month, a financial firm and a company involved in environmental engineering have announced plans to locate corporate headquarters there.
On Monday, Restoration Services Inc. received the go-ahead to buy 11.75 acres at the park's east entrance for a 30,000-square-foot headquarters office.
Last month, ORNL Federal Credit Union purchased 38 acres at $25,000 an acre for its $30 million corporate headquarters at the park's western entry off Oak Ridge Turnpike in Roane County.
"We'll have the park bookended and we'll be positioned well to develop the center portion," Oak Ridge Industrial Development Board Chairman Bill Biloski said Monday.
"We're very excited about another corporate headquarters coming into that park," said Kim Denton, the board's executive director.
Restoration Services Inc. plans to consolidate offices now in two other Oak Ridge locations, RSI Vice President Rick Ferguson said.
"It's a great location for us," Ferguson said Monday. "We've had our eye on it for some time."
Ferguson said 80 employees would be working at the new site.
Along with other functions, RSI does soil and groundwater sampling at nearby Department of Energy locations and the scene of the coal-ash spill next to TVA's Kingston Fossil Plant, Ferguson said.
He said the company is planning a $3 million investment in the Horizon Center property and construction should start soon.
The company is paying $25,000 an acre, with the board pocketing the lion's share. The Community Reuse Organization of East Tennessee, an economic development entity that seeks new uses for former Department of Energy land, receives $9,500 an acre on each land sale.
The two property sales occurred shortly after the Horizon land was transferred by CROET to the board and marketing efforts were streamlined.
Through land sales and the issuance of permits, the nonprofit board now has more than $1.1 million available to plow back into other industrial development efforts.
Source: Bob Fowler - News Sentinel Anderson County editor - 865-481-3625.