Preliminary documents were signed this week to supply natural gas to a proposed $70 million manufacturing facility that would convert natural gas to other products, and an agreement, also preliminary, has been reached to build the plant on a 23-acre site south of the former Crane Company building.
“I can confirm a preliminary agreement has been signed to locate the plant on a piece of land adjacent and south of the former Crane Company property,” said Martin Shearer, executive director, Somerset-Pulaski County Development Foundation. The property is currently owned by the Development Foundation.
“It’s all preliminary ... but I’m optimistic ... if everything comes together, I believe the plant is coming to Somerset,” Shearer continued.
“They are on a fast track,” commented Somerset Mayor Eddie Girdler, referring to a group of Houston, Texas investors considering Somerset for a manufacturing facility that would convert natural gas into “other” products. In addition to preliminary contracts for natural gas and the selected site, current negotiations are under way on long-term prices for natural gas, Girdler revealed. Negotiations apparently will soon move to the state level for considerations, including tax incentives.