Page "Opelika, Alabama" Paragraph 11

In the late 1990s, Opelika sought to increase its industrial employment base by purchasing and developing the Northeast Opelika Industrial Park.

The park site was purchased with funds from two bond issues, commonly called the 1998A and 1998B issues, totaling $ 10, 280, 000.

Additional expenditures involved in constructing the Northeast Opelika Industrial Park included $ 4. 3 million transferred from the City's general fund to the Opelika Industrial Development Authority ( OIDA ) between 1997 and 2000, a $ 1. 9 million federal industrial park access road grant, $ 2. 5 million from Opelika Water Works Board and the City of Opelika to sewer and water the park, $ 12. 1 million from the Alabama Department of Transportation to construct an interchange.

Additional expenditures were made by Tallapoosa Electric Cooperative for an electrical substation and by the OIDA for building construction for park tenants.

Final expenditures for the land and development of the park totaled approximately $ 32 million.

Since 1999, two major distribution centers, four tier 1 automotive suppliers and most recently Pharmavite, the global leader in the manufacturering and the distribution of dietary supplements, have located within the park.

The site has also attracted serious interest from automakers Audi, Nissan, and Hyundai.

In the summer of 2003, the park was recognized as one of the " South's Best Automotive Assembly Plant Sites " by Southern Business & Development, an industry trade publication.