Mexico Factory to Be Revived

1 decade 3 years 7 months ago Friday, January 20 2006 Jan 20, 2006 Friday, January 20, 2006 12:55:48 PM CST January 20, 2006 in News

Mexico city officials said they have finally reached a deal on the property. After 90 years of making fire bricks, AP Green closed down back in 2002. More than one hundred Mexico residents lost jobs. After three years of trying, the Commercial Development Company from St. Louis has bought the site. The company is experienced in dealing with facilities like AP Green.

"They specialize in older, aging industrial properties," said Dave Boone, the Director of Economic Development.

The size of the sprawling 1,000 acre site is a problem and a blessing.

"It's too large for any one user. So, a company like this takes advantage of that and they come in and buy surplus industrial real estate and then they redevelop it and sub-divide it and sell it to individual users. They also will lease the property, as well," Boone said.

Currently, five prospective companies, including a minerals processor, a ceramics manufacturer, and a precious metals recovery company, are interested in the property.

"We're working in cooperation with CDC, basically, to put some deals in the bag," Boone said.

Boone expects at least 2,000 new jobs in Mexico over the next twenty years because of the new businesses moving in. Boone also said some of the older sections of the building might not be rehabilitated. If this is the case, demolition and redevelopment may take place.

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