Are you curious about the significant capital investment required to launch an industrial park, potentially ranging from millions to tens of millions of dollars depending on scale and location? Understanding the intricate financial landscape, including land acquisition, infrastructure development, and zoning compliance, is paramount for success. Explore a comprehensive solution with our Industrial Park Spaces Financial Model to accurately project these essential startup costs.
Startup Costs to Open a Business Idea
Understanding the initial investment required is a critical step in launching any new venture. This table outlines common startup expenses, providing a range from minimum to maximum anticipated costs to help in financial planning.
| # | Expense | Min | Max |
|---|---|---|---|
| 1 | Legal & Registration Fees: Costs for business permits, licenses, and legal setup. | $100 | $1,500 |
| 2 | Office/Retail Space: Rent deposit, first month's rent, and potential renovation costs. | $500 | $10,000 |
| 3 | Equipment & Technology: Purchase of necessary machinery, computers, and software. | $1,000 | $25,000 |
| 4 | Inventory/Supplies: Initial stock of goods or raw materials needed to begin operations. | $500 | $15,000 |
| 5 | Marketing & Advertising: Initial campaigns for brand awareness and customer acquisition. | $200 | $5,000 |
| 6 | Website Development: Creation of an online presence, including domain and hosting. | $50 | $3,000 |
| 7 | Working Capital: Funds to cover initial operating expenses before revenue is generated. | $2,000 | $20,000 |
| Total | $4,350 | $79,500 | |
How Much Does It Cost To Open Industrial Park?
The initial investment required to open an industrial park varies significantly, typically ranging from $10 million to over $100 million. This broad spectrum is primarily dictated by factors such as the size of the land acquired, its geographical location, and the complexity of the infrastructure development needed to prepare the site for industrial use. For instance, developing a 50-acre industrial park in a suburban location might demand an initial capital outlay between $25 million and $50 million. This substantial figure reflects the considerable costs associated with site preparation and establishing essential utility connections.
Breaking down the typical budget for an industrial park project reveals key cost drivers. Land acquisition often represents a significant portion, accounting for approximately 20% to 40% of the total project cost. Following closely, infrastructure development, which includes building roads, installing water, sewer, and power lines, alongside telecommunications, can consume another 40% to 60% of the overall investment. Construction expenses for the buildings themselves, if included in the initial scope, further add to the capital requirements.
Key Cost Components for Industrial Park Development
- Land Acquisition: Securing suitable acreage is a foundational expense, often representing 20-40% of the total budget.
- Infrastructure Development: Costs for roads, utilities (water, sewer, electricity, gas, telecom), and site grading can make up 40-60% of the initial outlay.
- Permitting and Zoning: Fees associated with obtaining necessary approvals and navigating regulatory requirements.
- Design and Engineering: Costs for architectural plans, civil engineering, and environmental studies.
- Construction Expenses: Building shell structures, loading docks, and any specialized facilities.
Industrial real estate development expenses per acre for raw land can be substantial even before construction begins. Recent industry data suggests these costs can range from $200,000 to over $1,000,000 per acre for a full build-out. This figure encompasses site preparation, utility extensions, and road construction, but notably excludes the initial purchase price of the land itself. Understanding these detailed industrial real estate development expenses is crucial for accurate financial planning, as highlighted in resources like financialmodel.net's guide on industrial park spaces.
When considering the cost to build an industrial park, it's important to note that these figures are estimates and can be influenced by many variables. For a business like Apex Business Commons, which focuses on premium, strategically located hubs, the investment in high-quality infrastructure and sustainable design elements will naturally elevate the overall industrial complex development budget. This approach aims to secure a competitive advantage by offering superior facilities to growing businesses. The funding requirements for an industrial park startup are substantial, necessitating careful financial planning and a clear understanding of the capital required for an industrial park.
How Much Capital Typically Needed Open Industrial Park From Scratch?
Opening an industrial park from scratch requires significant capital, often amounting to tens of millions of dollars. This substantial initial investment covers a wide spectrum of expenses, from securing the land to the final construction phases and initial marketing efforts. Understanding the total capital required for an industrial park development involves a detailed breakdown of all anticipated industrial real estate development expenses.
The primary costs involved in developing an industrial park can be categorized to better understand the overall industrial complex development budget. These major categories typically include land acquisition costs, extensive site work, essential infrastructure development, building construction expenses, permitting and zoning fees, and various soft costs such as design, legal, and financing fees. Each component contributes significantly to the total starting an industrial park investment.
Financial planning for industrial park creation often involves a blended funding strategy. Typically, funding requirements for an industrial park startup necessitate a combination of equity investment, which usually covers 20-30% of total costs, and debt financing. Commercial loans or specialized construction loans commonly make up the remaining balance needed to finance the project.
A cost analysis of industrial park construction projects in the USA for the 2023-2024 period indicates a broad range for initial investment. The average initial investment for an industrial business park development was estimated to be between $500,000 and $15 million per developable acre. This figure heavily depends on the project's scope, location, and the extent of necessary site improvements and infrastructure development.
Breaking Down Industrial Park Development Expenses
- Land Acquisition: Securing suitable acreage is a foundational cost. Average land cost for industrial park development can vary dramatically by region, from tens of thousands to millions of dollars per acre.
- Site Work and Preparation: This includes grading, excavation, and clearing the land. Costs can range from $20,000 to $100,000+ per acre depending on terrain.
- Infrastructure Development: Essential utilities like water, sewer, electricity, and high-speed internet must be extended to the site. The cost of utilities and roads for an industrial park can easily run into millions, depending on the size and existing utility access.
- Building Construction: This encompasses the actual construction of industrial, warehouse, or manufacturing facilities. Construction expenses can range from $50 to $200+ per square foot, depending on building type and specifications.
- Permitting and Zoning: Obtaining necessary approvals involves fees for zoning changes, environmental impact assessments, building permits, and other regulatory compliance. Legal and administrative fees for industrial park development can add up, potentially several hundred thousand dollars.
- Soft Costs: These include architectural and engineering fees, legal services, financing costs, market studies, and initial marketing and sales costs for new industrial park ventures.
Understanding the capital required for an industrial park project involves recognizing the scale of commercial property development. The cost to build an industrial park is directly correlated with its size and the level of amenities and infrastructure provided. For instance, an industrial park requiring extensive new road construction and utility hookups will naturally have higher infrastructure development costs than one located near existing services.
Can You Open Industrial Park With Minimal Startup Costs?
Opening an industrial park with minimal startup costs is largely impractical. The very nature of industrial complex development demands significant capital for land acquisition, essential infrastructure, and construction. This is a capital-intensive venture from the outset, making it difficult to significantly reduce initial financial commitments.
While certain cost-saving measures can be explored, such as phased development or acquiring land that already possesses some, albeit limited, existing infrastructure, these strategies only marginally reduce the overall industrial park startup costs. Even for smaller-scale projects, the expenses involved in establishing critical industrial park infrastructure, including roads, water, sewer, and power connections, are substantial and unavoidable. These foundational elements alone often run into millions of dollars, as detailed in analyses of industrial park spaces.
Acquiring raw land and preparing it for industrial use requires substantial upfront capital. This makes it challenging to estimate the initial investment for an industrial park without comprehensive financial planning for industrial park creation. For instance, the average land cost for industrial park development can vary widely, but securing suitable acreage often represents one of the largest initial expenditures, frequently running into hundreds of thousands or even millions of dollars depending on location and size.
The estimated startup costs for a new industrial park are significantly influenced by several key components. These include:
Key Startup Costs for an Industrial Park
- Land Acquisition Costs: Securing suitable land is the primary hurdle. Prices can range from $50,000 to over $1 million per acre, depending on location and zoning. For a 50-acre park, this alone could be $2.5 million to $50 million+.
- Infrastructure Development: This covers roads, utilities (water, sewer, electricity, gas, telecommunications), and drainage. The cost to build industrial park infrastructure can easily amount to $500,000 to $2 million per mile of road and utility installation, with total infrastructure costs often exceeding $5 million for a medium-sized park.
- Permitting and Zoning: Obtaining necessary approvals involves fees for studies, applications, and compliance. These can range from $10,000 to $100,000+, depending on the complexity and local regulations.
- Construction Expenses: This includes site preparation, grading, foundation work, and building shell construction for initial units or spec buildings. Early construction phases for industrial buildings might cost $75 to $150 per square foot.
- Legal and Administrative Fees: Legal counsel for land purchase, contracts, and regulatory compliance, alongside architectural and engineering design fees, can add another 5% to 15% to the total project cost.
When assessing the cost to build an industrial park, it's crucial to understand that these foundational expenses are non-negotiable for creating a functional and compliant space. For example, utility connections alone, such as bringing high-capacity electricity and water to the site, can cost hundreds of thousands of dollars. The total startup cost for an industrial park, therefore, typically falls in the multi-million dollar range, with a common benchmark for initial investment for an industrial business park often starting at $10 million and escalating significantly based on scale and location.
What Are The Primary Startup Costs For Developing An Industrial Park?
Developing an industrial park, like Apex Business Commons aims to do, involves significant initial capital outlay focused on three core areas: acquiring suitable land, building essential infrastructure, and constructing initial facilities.
Land Acquisition Costs for Industrial Parks
The first major expense in starting an industrial park is land acquisition. This cost typically represents a substantial portion of the overall budget, often ranging from 20% to 40%. The average land cost for industrial park development can vary dramatically across the United States, from as low as $50,000 per acre in less developed areas to upwards of $500,000 or more per acre in prime locations, heavily influenced by zoning regulations and market demand.
Infrastructure Development Expenses
A critical component of industrial park startup costs is infrastructure development. This includes creating necessary roadways, installing utility lines (water, sewer, electricity, gas, telecommunications), and implementing stormwater management systems. These essential services often account for another 30% to 50% of the total project budget. The estimated cost for utilities and roads for an industrial park can fall between $150,000 and $400,000 per acre, depending on the site's existing condition and the required capacity.
Construction Expenses for Initial Facilities
Following land acquisition and infrastructure setup, construction expenses for the initial facilities are paramount. This involves building shell buildings or speculative industrial units designed to attract tenants. The cost to build an industrial park, specifically for these structures, can range from $80 to $150 per square foot. This figure significantly impacts the overall capital needed for a new industrial park and is a key factor in determining the financial planning for industrial park creation.
Breakdown of Industrial Park Startup Costs
- Land Acquisition: 20-40% of total budget. Average US cost: $50,000 - $500,000+ per acre.
- Infrastructure Development: 30-50% of total budget. Includes roads and utilities. Estimated cost: $150,000 - $400,000 per acre.
- Construction Expenses: Cost for shell buildings or speculative units: $80 - $150 per square foot.
How Much Capital Is Needed To Start An Industrial Park?
The capital required to launch an industrial park varies significantly, generally ranging from $10 million for smaller, less developed sites to over $100 million for expansive, master-planned developments in prime locations. This substantial investment reflects the comprehensive nature of industrial real estate development, encompassing land acquisition, extensive infrastructure, and building construction.
Estimating the precise startup costs for a new industrial park necessitates a detailed breakdown of all anticipated expenses. This includes crucial soft costs, such as legal fees, permitting, zoning approvals, environmental impact studies, and administrative overhead. These soft costs can often amount to 5-10% of the total hard costs, making meticulous financial planning essential for accurate budgeting. For instance, a 100-acre industrial park project might easily see total startup costs exceeding $30 million, with a considerable portion dedicated to land and site improvements before any vertical construction commences.
Financing options for industrial park construction typically involve securing substantial debt. Lenders often require a significant equity contribution, typically ranging from 20-30%, due to the inherently high initial investment and long-term nature of an industrial business park project. This equity requirement ensures that the developer has a vested interest and financial commitment to the project's success. Understanding the full scope of these financial requirements is critical for securing the necessary capital, much like exploring profitability strategies detailed in articles such as 'Industrial Park Spaces'.
Key Capital Allocation Areas for Industrial Park Development
- Land Acquisition: Securing suitable acreage is a primary expense, with average land costs for industrial park development varying drastically by region and proximity to transportation hubs.
- Infrastructure Development: This includes roads, utilities (water, sewer, electricity, gas), and telecommunications, often representing a significant portion of the initial investment. The cost of utilities and roads for an industrial park can easily run into millions depending on the scale and existing site conditions.
- Permitting and Zoning: Fees associated with obtaining necessary permits and navigating zoning regulations are mandatory pre-construction costs.
- Site Preparation: This involves grading, demolition, environmental remediation, and other work to make the land ready for construction.
- Vertical Construction: Building warehouses, manufacturing facilities, or flex spaces adds substantially to the overall budget.
- Soft Costs: Legal and administrative fees for industrial park development, architectural and engineering services, and market studies are also critical budget items.
The initial investment for an industrial park is substantial, driven by the scale of land acquisition and the extensive infrastructure development required. For example, developing a 100-acre industrial park can easily surpass a $30 million budget, with land and site improvements alone consuming a large percentage before any vertical construction begins. This makes financial planning for industrial park creation paramount.
Cost Of Land Acquisition For Industrial Park
The initial investment for developing an industrial park, like Apex Business Commons, heavily relies on the cost of land acquisition. This fundamental expense varies significantly, dictated by the property's location, its total acreage, and the existing zoning regulations. Understanding this foundational cost is critical for any industrial real estate development budget.
In the United States, the average land cost for industrial park development can be a substantial part of the overall budget. Prices typically range from approximately $75,000 per acre in less developed or rural areas to over $1 million per acre in prime metropolitan locations. This expense often accounts for 20-40% of the total project budget, making it a primary driver of industrial park startup costs.
For a project the size of a 50-acre industrial park, the land acquisition phase alone could represent an initial investment anywhere from roughly $3.75 million (at $75,000/acre) to over $50 million (at $1 million/acre). This wide range underscores the importance of thorough market research when calculating the capital required for an industrial park startup.
Factors Influencing Land Prices for Industrial Parks
- Location: Proximity to major transportation routes (highways, ports, rail lines) and labor pools significantly increases land value.
- Size: Larger parcels may offer economies of scale but also require a greater upfront capital outlay.
- Zoning: Land already zoned for industrial use or with a clear path to rezoning is more valuable and reduces pre-construction costs.
- Market Trends: Recent industrial real estate development expenses show that land prices in key industrial corridors have seen an average increase of 5-10% annually over the past five years. This trend highlights the need to budget for potential appreciation.
When planning an industrial complex development budget, securing suitable land is paramount. The cost of land acquisition directly impacts the overall estimated startup costs for a new industrial park. For instance, the financial planning for industrial park creation must allocate substantial funds for this initial purchase, as it sets the stage for all subsequent construction expenses and infrastructure development.
Expenses Involved In Industrial Park Infrastructure
Developing the essential infrastructure for an industrial park is a significant undertaking, often representing the largest portion of the total industrial complex development budget. These costs are fundamental to making the land functional for industrial use, ensuring businesses can operate efficiently. Key elements include the creation of robust road networks, installation of vital utility services, and management of stormwater.
The cost to build an industrial park is heavily influenced by the groundwork required for infrastructure. This encompasses everything from paving access roads to laying down essential services. These foundational elements are critical for attracting tenants and ensuring the park's long-term viability. Understanding these industrial real estate development expenses is crucial for accurate financial planning for industrial park creation.
Infrastructure development costs can be substantial, typically ranging from $150,000 to $400,000 per acre. This wide variance is largely dependent on factors such as the specific terrain of the site and its proximity to existing utility lines. These figures highlight the significant capital required for an industrial park startup and are a primary driver of the overall industrial park startup costs.
For a project of approximately 50 acres, the combined expenses for utilities and roads for an industrial park could easily total between $7.5 million and $20 million. This figure underscores why infrastructure is a major component of the industrial complex development budget. It’s a core investment that enables the park’s functionality and appeal to potential businesses.
Data from recent projects reveals that the installation of underground utilities alone can be a major expense, costing anywhere from $50 to $150 per linear foot. This detail significantly impacts the total expenses involved in industrial park infrastructure, demonstrating the granular financial planning needed for starting an industrial park investment. These costs are directly tied to the complexity of the site and the required service capacity.
Key Infrastructure Components and Associated Costs
- Roads and Access: Construction of internal roads, access points, and potential highway interchanges.
- Utilities: Installation of water supply, sewer lines, electricity grids, natural gas pipelines, and waste management systems.
- Stormwater Management: Development of drainage systems, retention ponds, and erosion control measures to manage rainwater runoff.
- Telecommunications: Laying fiber optic cables and ensuring reliable internet and communication infrastructure.
The initial investment for an industrial park startup is heavily weighted towards these infrastructure needs. These are not just construction expenses; they are the backbone that supports the operational capacity of every business housed within the park. Accurate cost analysis of industrial park construction requires detailed budgeting for each of these essential services.
Permitting And Zoning Costs For Industrial Park
Securing the necessary approvals and entitlements for an industrial park involves significant costs related to permitting and zoning. These expenses are crucial for legal compliance and project viability, forming a substantial part of the initial investment for developing commercial property.
The permitting and zoning costs for an industrial park project can vary widely but are a critical component of the overall industrial real estate development expenses. For a medium-to-large industrial park, these costs can range from $250,000 to over $1 million. This broad spectrum accounts for the multitude of fees, studies, and legal processes required to gain official approval.
Legal and administrative fees associated with navigating zoning changes and obtaining permits typically represent 2-5% of the total project budget. Complex zoning modifications or special use permits can significantly increase both the time and the financial outlay required. These expenses cover consultations with legal experts specializing in land use and development law, preparing applications, and attending public hearings.
Key Pre-Construction Expenses for Industrial Park Development
- Application Fees: Costs charged by local, state, and federal agencies for submitting various permit requests.
- Legal Fees: Expenses for attorneys specializing in land use, zoning, and environmental law to guide the approval process.
- Environmental Impact Assessments (EIA): Studies to evaluate the potential environmental effects of the park, often mandated by regulatory bodies. These can cost tens of thousands of dollars.
- Traffic Impact Studies: Analyses to determine the effect of the industrial park on local road networks and infrastructure, costing upwards of $15,000 to $50,000 depending on complexity.
- Surveying and Civil Engineering Reports: Detailed site assessments and planning documents required for design and approval.
Before any physical construction can begin on a new industrial park, pre-construction costs, including environmental studies and traffic analyses, can easily total hundreds of thousands of dollars. These essential investigations ensure compliance with environmental regulations and assess the project's impact on local infrastructure, directly influencing the starting an industrial park investment.
Construction Expenses For Industrial Park Buildings
Construction expenses for industrial park buildings represent the core cost of erecting the physical structures within the park. This includes everything from the foundation to the roof, encompassing both speculative multi-tenant buildings designed for broad appeal and custom build-to-suit facilities tailored for specific tenant needs. These costs are a significant driver of the overall industrial park startup costs.
The typical cost to build industrial park buildings, specifically for shell industrial space, ranges from $80 to $150 per square foot. This estimate generally excludes any costs associated with tenant improvements, which are finishes or modifications made specifically for a tenant's operational requirements. These figures are critical for calculating the total industrial real estate development expenses.
Consider a speculative industrial building spanning 200,000 square feet. Based on the average cost range, the construction expenses alone could fall between $16 million and $30 million ($80/sq ft 200,000 sq ft to $150/sq ft 200,000 sq ft). This substantial figure highlights why construction is often the largest component of an industrial complex development budget.
Fluctuations in material and labor costs directly impact the typical budget for an industrial park project. Over the past few years, construction material prices have seen an average annual increase of 1-3%. This trend means developers must carefully monitor market conditions to accurately estimate and secure funding requirements for an industrial park startup, influencing the initial investment for an industrial business park.
Factors Influencing Industrial Building Construction Costs
- Building Type: Speculative shell buildings generally cost less than highly customized build-to-suit facilities.
- Size and Scale: Larger buildings can sometimes achieve economies of scale, but the overall capital outlay remains significant.
- Material Selection: The quality and type of construction materials used (e.g., steel, concrete, insulation) affect per-square-foot costs.
- Site Conditions: Ground preparation, soil stability, and accessibility can add to the complexity and cost of construction.
- Labor Rates: Prevailing wages for skilled construction labor in the specific geographic location are a major cost factor.
Marketing And Sales Costs For New Industrial Park
Attracting the right tenants to a new industrial park is crucial for its success, and marketing and sales costs are a significant part of the initial investment. These expenses are essential for communicating the park's value proposition to potential businesses. For a new industrial park development, these costs typically range from 1% to 3% of the total project value, depending on the specific market dynamics and the chosen sales strategy.
The budget for marketing and sales covers several key areas. This includes developing a strong brand identity for the industrial park, creating a professional and informative website, and investing in high-quality signage that clearly identifies the location and its offerings. Promotional events, such as open houses or industry-specific trade shows, are also vital for generating interest and making direct connections with potential clients. These efforts are fundamental to ensuring the park's features, like modern facilities and strategic location, are effectively highlighted to businesses actively seeking operational hubs.
Key Marketing and Sales Expenses for an Industrial Park
- Branding and Website Development: Establishing a professional online and offline presence.
- Signage: Clear and attractive on-site and directional signs.
- Promotional Events: Hosting or participating in events to attract prospects.
- Brokerage Commissions: Fees paid to real estate agents for securing tenants or buyers. These typically range from 3% to 6% of the lease value or sales price.
Considering a substantial project like a $50 million industrial park development, the marketing and sales budget could fall anywhere between $500,000 and $1.5 million. This investment is critical for achieving target occupancy rates and ensuring a strong return on investment (ROI) for the overall industrial real estate development. Without effective marketing, the park might struggle to attract businesses, impacting its financial viability and the speed at which startup costs are recouped.
Financing Options For Industrial Park Construction
Starting an industrial park, like Apex Business Commons, involves significant capital. Understanding the available financing options is crucial for managing industrial real estate development expenses and the overall industrial complex development budget. Key funding avenues include traditional bank loans, private equity, government incentives, and, for larger projects, potentially Real Estate Investment Trust (REIT) investments.
Commercial property development loans are a primary source for funding. These loans typically cover 60-80% of total project costs. This means developers must secure the remaining 20-40% as equity. This equity requirement directly influences the initial capital needed to start an industrial park, as it represents the developer's own investment or funds raised from other sources before traditional lending kicks in.
Government programs can significantly reduce the financial burden. These often come in the form of tax abatements, the establishment of Tax Increment Financing (TIF) districts, or direct grants specifically for infrastructure development. For instance, a TIF district allows future tax revenues generated by the park's development to be reinvested back into the project, helping to mitigate some of the high industrial park startup costs.
The cost of borrowing is also a major factor. Interest rates for commercial real estate development loans in the 2023-2024 period have generally ranged from 6% to 9%. This rate directly impacts the overall cost of borrowing for an industrial park project, affecting the total capital required and the project's long-term financial viability.
Key Financing Avenues for Industrial Park Development
- Traditional Bank Loans: Provide the bulk of debt financing for construction, typically covering 60-80% of costs.
- Private Equity: Investors provide capital in exchange for ownership or a share of profits, often filling the equity gap.
- Government Incentives: Includes tax abatements, TIF districts, and grants for infrastructure, reducing overall project expenses.
- REIT Investments: Real Estate Investment Trusts may invest in large-scale industrial park developments, offering substantial capital.
Ongoing Maintenance Costs For Industrial Park Startup
Beyond the initial construction, budgeting for an industrial park startup must include significant ongoing maintenance costs. These recurring expenses are crucial for preserving the property's value and ensuring it remains attractive to tenants. Key areas covered typically include the upkeep of common areas, essential infrastructure, landscaping, robust security measures, and professional property management services.
These operational costs, often referred to as Common Area Maintenance (CAM) charges, are a standard part of industrial park operations after the initial build. For a well-maintained industrial park, these costs can typically range from $0.15 to $0.50 per square foot annually. These charges are generally passed on to the tenants as part of their lease agreements.
Consider a hypothetical industrial park spanning 1 million square feet. Based on the average CAM charges, the annual maintenance budget could fall between $150,000 and $500,000. This expenditure is vital for ensuring the facilities consistently meet high standards, remain competitive in the market, and provide a premium environment for businesses operating within the park.
Key Components of Industrial Park Ongoing Maintenance
- Common Area Upkeep: Regular cleaning, lighting, and general repair of shared spaces like access roads, parking lots, and lobbies.
- Infrastructure Maintenance: Ensuring the continued functionality of essential services such as water, sewage, electrical systems, and waste management.
- Landscaping and Groundskeeping: Maintaining outdoor aesthetics through lawn care, tree trimming, snow removal, and general site appearance.
- Security Services: Costs associated with security personnel, surveillance systems, and access control to ensure tenant safety and property protection.
- Property Management: Fees for administrative tasks, tenant relations, lease enforcement, and financial oversight of the park's operations.
Effective financial planning for an industrial park creation is incomplete without a detailed forecast of these recurring expenses. Properly accounting for ongoing maintenance ensures the park's long-term profitability and supports sustained tenant satisfaction. This foresight is fundamental to achieving a strong overall return on investment for the industrial business park.