One of the largest projects on the 2016 Capital Project Sales Tax initiative slate of projects is the construction of a spec building at the North Greenwood Industrial Park. On Friday, Greenwood County Council cut the ribbon on that key economic development project.

“It’s been a countywide effort,” CPST coordinator Josh Skinner said.

The 100,000-square-foot building features 112 pre-cast insulated concrete panels, 40 VELUX skylights, four loading dock doors installed by Lakeland Overhead Door and a 50,000-square-foot pad in the back for expansion, Skinner said.

Greenwood County interim economic development director James Bateman said this is the first of three new Palmetto Sites in South Carolina.

The Palmetto Sites program is run by the state Department of Commerce. The program checks industrial sites for tenant readiness and gives the designation for sites that pass. Only three other sites have been given this designation.

This spec building gives Greenwood County something it has been missing out on.

“Greenwood County has been missing new Class A industrial product for a long time,” Bateman said. “Now we are no longer missing those opportunities.”

Councilman Theo Lane, who represents the area where the building is located, agreed.

“In 2015, the Greenwood County Council had the vision to realize we were losing out on opportunities for visits from site selection professionals,” Lane said. “Our success in Greenwood County had made us short on product.”

The spec building is on Highway 25 in Hodges just north of Diana Pet Food, Colgate-Palmolive and Caterpillar.

“I feel great that we could about accommodate everyone’s needs who want to call Greenwood home,” Lane said.

Lane said the building can be expanded by 100,000 square feet depending on the needs of the industrial tenants.

“This is a good size building, 100,000 square feet with expansion options,” Trey Pennington, senior vice president of advisory and transaction services at CBRE, said. “It gives you a lot of options to attract businesses.”

CBRE has been contracted by the county to market the spec building worldwide.

Pennington said the market for industrial sites is very good right now. Bringing in an industrial tenant will not only bring tax revenue but also could provide more jobs.

“It’s going to help Greenwood attract businesses,” Pennington said.

Contact staff writer James Hicks at jhicks@indexjournal.com or on Twitter @jameshicks3.