Techneglas site gets $5 million shot in arm
The Dispatch wrote Techneglas site gets $5 million shot in arm
Friday, November 14, 2008
BY DAN GEARINO
Amid an economic downturn with almost daily reports of layoffs, city and state leaders returned yesterday to a vacant factory that they hope is ready for a comeback.
A plan to renovate the former Techneglas plant on the South Side will get $5 million from the state, one of a dozen projects that will get a total of $50.5 million in grants. The other 11 are all outside central Ohio.
At the Techneglas site, Columbus developer Marvin Katz is working with local businessman Don Garlikov and New York investor Greystone & Co. The developers plan to spend about $20 million on top of the $5 million from the state and $1.4 million in road improvements from the city.
They plan to subdivide the 1.1 million square feet of the Techneglas and Owens Illinois plants, creating office and industrial spaces for tenants. The project is known as TechCenter South. He thinks the plant can be up and running by 2010.