Case Study: Stark Farms
In 2016, six foundations formed an investor syndicate to buy a 327-acre farm and develop it into Stark Farms – a Class A industrial park. Hendrickson International (2018) and Tractor Supply Company (2020) are the first two industries to build facilities at Stark Farms. Once both are fully operational, 675 new jobs will be realized…and the mission-related investment made by the local foundations continues to attract great companies and great jobs to Navarre, Ohio.
Impact:
- Hendrickson estimates 300 new jobs. Tractor Supply estimates 375 new jobs.
- 327 total acres in development (175 acres remain available for new tenants)
- Village of Navarre will receive new income tax revenue
- Perry Township will receive new property tax revenue
- Local contractor awarded $50M project to construct Hendrickson’s new facility.
- Six local foundations will recapture investment returns to multiply their philanthropic impact in the community
Project Funding
Source | Amount | IMPACT Investors: | $2,250,000 |
|---|---|
State Grants: | $6,364,115 |
Total: | $8,614,115 |
More Details:
“Local Foundations Purchase Stark County Farm for $2.25 Million”
“Welcome to the neighborhood – Hendrickson moves forward with Navarre facility”
“Commissioner: Big, Big Win For Stark County”
“Tractor Supply Co. Plans to Bring 375 Jobs to Northeast Ohio”
“Tractor Supply Company Announces New Distribution Center in Ohio”
