Bobby Morrison, chairman of the Columbia-Adair County Economic Development Authority, said today (Thursday) after a special-called meeting, the EDA had entered into an option to purchase agreement with K&M Services, LLC.
“I am walking on air,” said Morrison. “We’re moving the ball forward.”
The agreement allows, K&M, with offices in Glasgow and Franklin, the option to purchase Lots 2-4 at the Green River Commerce Park on Highway 55 North, just outside of Columbia.
K&M, considered a partner in development, according to the agreement, will help the EDA recruit clients for the location. The company may also build a spec building to aid in the process.
The agreement specifies K&M would pay $1 for any property selected by a client it recruits, as long as the company will have at least 10 initial employees. The price would be increased $10,000 for each employee under 10.
Morrison said the process will not happen overnight, but the financial and economic impact this agreement could have on the community may be felt for sometime.
For more details, see the next issue of the Community Voice.
