Board of Directors Approve Sale of the Garner Facility
Prairie Energy Cooperative and Stellar Industries, Inc have reached a purchase option agreement regarding the property we currently own, located on West Third Street in Garner, adjacent to Stellar Industries property. The Cooperative plans to construct a new state of the art service center in the Touchstone Energy Industrial Park on the north side of Garner that will better serve the needs of you, our member-owners. Plans are to have the facility complete by fall of 2018.
The existing Garner facility was built in 1959 with the warehouse added in 1960. The current facility has gone through several building additions and renovations to accommodate growth, but the need for adequate space for today’s larger bucket trucks and vehicles cannot be resolved. Combined with the need to accommodate changing technologies and industry standards and to have a more productive work environment, the need for a new facility is clear. Fortunately, the existing building is well suited to take on a new life with Stellar’s as the owner.
A new facility will improve working conditions for line crews, which will help the cooperative to operate more cost effectively while providing an opportunity to streamline and improve efficiency. The cost savings will come in many forms. A couple examples are less duplication of services and equipment plus the building will be more energy efficient therefore reducing energy costs.
Prairie Energy strives to be a leader in economic development. With this sale, Stellar Industries, Inc will have the opportunity for further expansion which creates the potential for more jobs in the region. In the last year, Prairie Energy has assisted in opening up eight new lots in the Touchstone Energy Industrial Park. By locating our new service center in the park, we believe we could attract other new businesses or existing business expansions to locate in the industrial park. Finally, we are pleased that the Hancock County Economic Development Corporation will continue to have an office in the existing building under the new ownership.
Watch for further details in upcoming Intouch newsletter editions. We look forward to sharing updates on the project as it develops.