Cray Research reaches deal on land in Wissota
Posted: April 15, 2016
Seattle, WA-based Cray Research Inc., which has a supercomputer manufacturing facility in Chippewa Falls, has reached a deal with Chippewa County to purchase 19.5 acres in the Lake Wissota Business Park to build a new, more efficient facility in Chippewa Falls.
"Cray has been taking the next step and the county has accepted the offer and gave them the authority to access the property accordingly," said Chippewa County Economic Development Corp. Executive Director Charlie Walker, who added that the purchase for the land was $294,600, or about $15,000 per acre.
"They will be building a more efficient facility. I don't anticipate any more hires initially, but I think eventually you'll see additional jobs down the line. The City of Chippewa Falls has agreed to do some storm water work on the property as well," said Walker.
"Cray will pay the county and the city will reimburse the cost of the property sale over a three-year period," said Walker, who added that the sale should be finalized by the end of the month.
"This is a win-win situation and this is how economic development works at its best," said Walker.
Chippewa County established the Lake Wissota Business Park in March, 2000, when it voted to approve borrowing $1 million from the State Trust Fund to develop the park. The county has since paid off that debt in 2005.
Lake Wissota Business Park, which is owned by Chippewa County, will use the proceeds from the land sale to pay for expanded broadband service in the business park and market other available lots.TBL