The Orem Center Business Park still stands mostly empty, but city officials say it won't stay that way for long.
"I'll be very disappointed if we don't get most of it sold this summer," said DeLance Squire, director of the Commission for Economic Development in Orem.He said one company wants to buy all the remaining property. If it does so, development can move ahead immediately.
The Orem Center Business Park is at the west end of 1200 South on Geneva Road. It consists of approximately 130 acres of property, including Utah Transit Authority offices.
At present the park has only two developers: The Woodward Group Inc., which manufactures pharmaceuticals such as vitamins, minerals and over-the-counter drugs, and Rocky Mountain Sea Life, which manufactures display cases for seafood.
Squire said work on the business park began about seven years ago, but it took four years to get permission to relocate one of the roads. "The real work has been in the past three years," he said.
"We are working with four companies that have indicated an interest in the property," Squire said.
He said people need to learn that economic development takes time.
"Sometimes we work with a company for three or four years before something happens," Squire said. But the commission is pleased with what is happening now.
Another company that has expressed an interest in the property is Futura Propulsion Systems, a firm based in California that would manufacture electric cars.
Usually the commission would not reveal which companies they are negotiating with, Squire said. But Futura needed industrial revenue bonds, so they had to go to the City Council and the information became public.
Squire said the business park "won't be a huge tax generator for the city but will mainly provide jobs."
For example, if Futura decides to develop in the park, the company could offer 500 new jobs during its first year of operation and up to 1,000 during the second year.