In 2010, the Town of Stillwater first evaluated the development of a Business Park that would support the region’s rapidly growing industries, including the technology, light manufacturing, and warehousing sectors. The Town identified an area along Route 67 because of its proximity to Interstate 87 (via the newly constructed Round Lake Road bypass) and Luther Forest Technology Campus (LFTC), the home of GlobalFoundries research and semiconductor manufacturing facility.
At the time, the proposed Business Park included seven (7) parcels, totaling approximately 980 acres of land. Since 2010, the Town has advanced the development of the Business Park by adopting new zoning (i.e., Route 67 West Business District) and expanding critical infrastructure, including water services, that now encompasses nearly 1,400 acres.
Because the Route 67 West Business District now encompasses a larger area, this update examines the increased development potential and related economic development opportunities. For the purposes of this update, ‘Business Park’ and ‘Route 67 West Business District’ are used synonymously. Finally, this update is intended to identify additional steps the Town and its economic development partners can take to further advance the growth of the Business Park.
Summary of Findings
The following summary is based on the full buildout of the business park and highlights the major findings of this update. More detailed information, including how these figures were arrived at, are included within the report.
- Development Potential: 14 million square feet
- Potential Construction Jobs: 7,000
- Potential Employees: 21,850
- Potential Annual Wages: $850 million annual wages
- Total Acres: 1,400 with 840 acres of developable land
- Undeveloped Land: 90% of land is vacant or has limited development
- New Roadway Infrastructure: 6.25 miles
- New Water Infrastructure: 6 miles of watermains
- Water Capacity: 1.4 million gallons per day (MGD)
- Electric Capacity: Proximity to 35kv and 115kv transmission lines
- Distribution: Proximity to multimodal railyard