INX Expansion May Help Lebanon Ohio Real Estate Values
Representatives from INX International Ink Company, developer The Schueler Group of Companies, along with city and state officials, participated in a groundbreaking ceremony December 5th at the company's future 11 acre, 62,000-square-foot facility and $18 million manufacturing plant at the Lebanon Commerce Center business park site. The future INX plant will make ink for flexible packaging products and is the third largest producer of inks in North America with 15 facilities.
INX purchasing commercial real estate in Lebanon, Ohio is one example of movement and forward progress in various industries around Ohio. INX just as with Nationwide Realty Investors recently filing plans for a 78,000 sq. ft. office building, with a convenient 505 space parking garage for the next phase of popular Grandview Yard in Columbus Ohio, are positive signs for Ohio's economy as numerous businesses from small to large companies continue to expand or relocate to the Buckeye State.
"Plans are to start operations with 33 employees, including 10 production employees to transfer from Blue Ash, and increase to 46 employees within five years" President & CEO Rick Clendenning said. A small increase in stable jobs in the area from INX, combined with many other businesses seizing the opportunity to expand and with things like the new Racino opening very near Lebanon in Turtle Creek Township are all signs of improvement that will help stabilize and promote healthier local real estate markets long term. Clendenning further stated, "Our other facility that manufactures this type of ink is up north in Wisconsin and we needed some capacity down here to support our customer base in the Southeast, we're running out of capacity in Wisconsin."
As I continue to watch Ohio rebound from huge national and state economic downturn, I see more and more activity in various industries, and when businesses are expanding, it's nearly a given that it affects real estate positively in the long run. Now is a perfect time to buy in the area, and sellers who are getting anxious that have been holding off may have a very nice surprise regarding overall home values in Lebanon by late summer.