Real estate firm, Rise Partners, is taking major steps to push Chattanooga forward by supplying industrial and warehousing facilities for local businesses.
Rise Partners plans to revitalize the former DuPont site to create North River Commerce Park, a new industrial park providing opportunities for business growth and job creation. The project is expected to value $100 million once completed and will utilize tax increment financing to fund the expansion.
The DuPont plant ran for 60 years with 5,000 employees at its peak before closing in 2015. In 2017, the plant was purchased by Kordsa Inc. which continues to operate its nylon facility to this day.*
The new project is being built alongside the remaining active portion of the former Dupont facility, now operated by Kordsa.*
The development will bring four modern Class A industrial buildings to the Hixson site totaling nearly 800,000-square-feet.
According to Times Free Press, Mayor Tim Kelly believes this development will attract new industry and create up to 600 direct new jobs. This project will be the largest industrial site addition to Chattanooga in twenty years. Managing partner for Rise Partners, Matt Phillips, hopes construction on the buildings will start in the fall.
Chattanooga is founded upon creating a thriving environment for its community, and the creation of the North River Commerce Park aligns with the vision of Chattanooga Climbs, an initiative to grow Chattanooga and create high-quality jobs for citizens. The potential creation of jobs and industry growth fuels the development of Chattanooga, and the new industrial park will supply the means for its success.
Learn more about the new industrial park, here.
Get more information on the Chattanooga Climbs initiative, here.
Corrections:
- A previous version of this article stated that Rise Partners planned to purchase land owned by Kordsa. The transaction is between Rise Partners and Invista.
- A previous version of this article stated that nylon manufacturing shut down at the DuPont facility in 2015. Kordsa continues to manufacture nylon on site till this day.
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