Tribune Star Production Facility
Working with the City of Terre Haute, Vigo County, and Tribune Star Publishing Company executives, Garmong Development served as the catalyst to convince the Thompson Newspaper Group to relocate their publishing warehouse facilities from downtown Terre Haute, to a more logistically favorable location within the County, instead of relocating to a new geographic region. This solidified employment opportunities within the community, preserving several jobs.
Using Industrial Revenue Bonds to aid with financing, local public officials and Garmong were able to put together an incentive/financing package that allowed Garmong to lease the facility to the Tribune Star at favorable terms, with a buy-out provision built into the lease.
The 44,000-square-foot pre-cast concrete structure was completed in less than six months from receipt of a letter of intent from the Tribune Star. It is specifically designed to enhance the efficiencies necessary to be competitive in their business environment.