Business park's valuation grows to $69.2 million
The current value of land and buildings in St. Croix Business Park is $69.2 million, according to the firm that handles publicity for the park.
3D Strategies Inc. completed a phone survey of companies located in the park last spring to learn more about its economic impact.
The firm also reported to the business park board that companies located in the park employ 805 people and provide an estimated total annual payroll of $33.8 million.
The annual economic impact to the Hudson community, based on the multiplier effect, is $157 million, the firm reported.
It's hard to argue with the success of the business park given numbers like those, officials say.
Johnson Controls was the first company to move into the park in 1997.
The park has undergone a couple of expansions since then and now encompasses 303 acres. About 170 acres are occupied or spoken for. Another 63 acres are available for development.
The three-member business park board is headed by Hudson Mayor Jack Breault. Kelly Dunn of First National Bank of Hudson is the secretary and Trudy Popenhagen of Xcel Energy is the vice president.
Companies that have purchased property in the park in 2005 (or are in the process) are St. Croix Business Center, Bondpro Corp., Hudson School of Gymnastics and Tae Kwondo, Croix Custom Homes, Haase Investments, Kidz Plaza II and Eagle Packaging.