Redding City Council approves incentives to draw businesses to Stillwater Business Park
REDDING, Calif. - Eight years after the Stillwater Business Park was built, the City of Redding is now working to make the space, which stretches 680 acres with 321 acres for development, more desirable for businesses.
Tuesday night, the Redding City Council approved several incentives, including job credits, free land, and property tax rebates, to try and draw in businesses to the park.
"We have incentives in place and we have a council policy. So one of them might be $5,000 for every job that is created, with Stillwater that's going to be $10,000 per job," said City Manager Barry Tippin. "We are also setting up an opportunity to give free land away again. If somebody meets the criteria and they're wanting free land, we will provide the land for free."
City Manager Barry Tippin says despite the potential the land may have, it has faced some challenges beyond the city's control.
"The park completed construction at the height of the great recession and so no businesses were relocating and nobody was visiting," Tippin said. "By the way the timing just happened, unbeknownst to anybody of course, the park was opened during the worst economic crisis since the great depression."
The property's commercial broker, Kyle Mickiewicz, says location has been another issue.
"It's not the ideal location, two miles off the highway with no port and no rail serving it, so we understand that it's going to take a certain type of user that not only needs to be in Redding but wants to be in Redding," Mickiewicz said.
Tippin added another location problem is being in the state of California.
"We just have a much more stringent regulatory environment than say Nevada," Tippin said.
Mickiewicz said they are currently looking at manufacturing companies to move into the park.
"If there's a need for a small to medium sized user then we will build it, there's no question, but right now we think there's a great opportunity for manufacturing," Mickiewicz said.
Mickiewicz said there are four or five prospects currently in negotiation. He said they plan to make an announcement about new buyers in the middle of December.
To see the approved incentives, click here and scroll to page 74.