The City of Lancaster has identified a need to expand its economic base through business development. In order to promote development, the City is creating a Business & Industry Park on Lancaster's eastside. The Lancaster Business & Industry Park is an approximately 200-acre planned development on the City of Lancaster's eastern boundary along STH 129.

Because of residential needs identified, the City has included the potential for 40 acres of residential development. In addition, some commercial sites may be developed if the need arises. However, the main focus of the project is approximately 100 acres of land suitable for industrial development. The project plan also calls for protecting important natural resources and open space as over 20% of the available acres are proposed as greenway or municipal use.

In March, the City Council annexed 160 acres of land into the City. Now, all land west of STH 129, south of CTH A/Elm Street, and north of Lincoln Avenue is in the City of Lancaster.

Additionally, a Tax Incremental Financing District was created to help fund infrastructure improvements on the site. The new businesses in the park will pay their full property taxes. They pay those taxes to the City and then the taxes are used to pay back principle and interest on the improvements to the land. If the City is successful attracting businesses to the park, little or no general property taxes from businesses or residences outside the district will be used for the construction of the roads, and utilities in the park.

Also in March, the City approved the construction of 1000' feet of new industrial park street and utilities. This part of the business park will be completed along with the Lincoln Avenue Reconstruction project.

The City Council is asking for help from citizens in naming the new business & industry park and the new streets serving the park. Residents are encouraged to submit names for consideration and individuals submitting the selected names will receive a Chamber of Commerce Gift Certificate. Contest details are available on our home page under "What's New" - "Park and Street Naming Contest".

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