The Grand Forks Jobs Development Authority (JDA) approved an office and warehouse space for Border States Electric in the Business Park.
With a recommendation the Growth Fund Committee, the JDA approved the purchase before the City Council meeting Monday. The space, at South 48th Street and 24th Avenue South, would house the office and warehouse space as well as an outdoor storage yard. It stretches 8 acres.
Deputy City Planner Ryan Brooks said that the city feels "really good" about Border States Electric taking up such a large parcel of land. The electric supply distributor will pay $1.1 million for the space.
"We feel really good about this company, they're going to be a great fit in the business park," Brooks said.
CEO of Border States Electric Tammy Miller said that the company's current facility is outdated and they are excited to move to a new facility.
In the agreement, Border States Electric has first dibs on the adjacent 5-acre property in the park.
"They asked that we check in with them first because they may want to be able to purchase it," Brooks said.
Border States Electric is a "homegrown" company. It was founded in Grand Forks in 1952 and is one of the largest electric supply distributors in the country.
"We're really building (the company) together, since we were founded in Grand Forks," Miller said. "And we want to thank you for your support."
The city will also pay the brokerage fee for Border States Electric, which Brooks said is common with most transactions of this kind. The city will pay Border States Electric's representative, Dialect Inc., $33,000.
The JDA is responsible for building signage that will be visible from Interstate 29 that will identify all occupants of the Business Park. Border States Electric will have its logo in the top panel, similar to the Target sign near Lowe's on Interstate 29.