Adam: big year for VWAEDC in 2022

SCOTT TRUXELL/independent editor

Van Wert Area Economic Development Corporation Executive Director Stacy Adam recently shared the organization’s 2022 overview with Van Wert City Council and the report shows it was a busy year, with a number of completed initiatives and increased development opportunities.

“Van Wert had a strong year again in 2022 from a development perspective,” Adam stated. “We have several projects and much activity in Vision Park from both existing business expansion and new businesses to the community. The park saw it’s last development nearly 20 years ago. Population is increasing, wages for residents are increasing and our elected officials and community partners are collaborating and working together to build a solid foundation that makes Van Wert a business-friendly place to expand or locate.”

While supporting existing businesses, Adam said $284,000 in training reimbursement has been made to Van Wert County employers to provide technology-based training. She also said there were 957 job postings on the Van Wert Works website in 2022. The revolving loan fund loaded $262,500 to local businesses in 2022.

Adam said $1.6 million in Brownfield and Demo grants were secured for Van Wert County, $119,000 than the allocated amount. Along those lines, VWAEDC coordinated the acquisition of the former Van Wert Inn on N. Washington St. and the former Anthony Wayne School on Jefferson, and facilitated the demolition of the former inn. The long-vacant school building is slated to come down sometime this year.

The Land Bank continued its partnership with Vantage Career Center by transferring a second land bank lot and jointly funding materials, allowing Vantage students the opportunity to construct a single-family home.

A house on S. Tyler St. was donated to the Land Bank and is in the process of full renovation. The property will be made available to the public for purchase once complete. That should occur sometime during the second quarter of this year.

VWAEDC also presented 19 Mega Site requests for information and had nine subsequent site visits last year.

Another highlight of 2022 was the “Build Your Future” event, held in September at the Van Wert County Fairgrounds. 600 students from Van Wert and Paulding counties participated in the hands-on event, exposing them to various skills, including carpentry, welding, construction, electricity and industrial mechanics.

In terms of expansion and attraction projects, Adam noted the $6.5 million “Spec Building II” is targeted for completion in April, and she said Custom Assembly’s 103,000 square foot facility in Vision Park is a $5.5 million investment that will create 20 new jobs.

Other highlights include a building under construction in Vision Park for GLM Transport, a $2.7 million investment and 92 new employees; Central Insurance’s $5 million investment resulting in 100 new jobs, and Phase II of Van Wert Forward, with five buildings slated for work and the addition of 15 residental units.

“We have a low cost of living and safe community with good schools,” Adam said. “There is an extraordinary downtown revitalization project underway, airport improvements have been made and will continue, groups have invested in increasing housing options and a new child care facility has recently opened.”

“We’re building momentum and will continue to roll up our sleeves to keep it moving,” she added.

Perhaps the most anticipated project is currently called “Project Hulk,” but few details have been released, at least for now. Adams did say in her report that it could be a $50 million project with 100 new jobs and a planned 200,000 square foot building in Vision Park. Adam said the client is working to select a developer to construct the building.

More information about the Van Wert Area Economic Development Corporation can be found at https://vanwerted.com/.