SPRINGDALE -- The city's Public Facilities Board on Wednesday voted unanimously to sell 2.1 acres in its Turnbow Avenue industrial park.
The board accepted an offer of $147,000 from PM Industries, which owns the adjacent lot.
The Public Facilities Board is an arm of city government that manages industrial land. The board contracts with the Springdale Chamber of Commerce to manage its properties.
The current PM Industries building sits due west of the land to be purchased.
James Crouch, chairman of the Public Facilities Board, said the sale depends on the Planning Commission's approval of the company's plan to expand. The sales contract also includes a clause that allows the city to repurchase the land if the company ever leaves it, he said.
Closing is set for Aug. 27, according to the sales contract.
PM Industries operates a metal finishing plant. Troy Bates, the company's quality manager, said Wednesday the company electroplates pieces for the aerospace industry.
"To make it simple, we make the dull stuff shiny," Bates said. "When you get a nut or a bolt, we put the finish on to keep them from corroding."
Bates said he was unsure what the company plans for its new acres. He said the company has outgrown its facility at 2399 Turnbow Ave. and is looking to expand. The company employs 10 people on Turnbow, and an expansion would bring 10-12 more jobs to the city, Bates said.
PM Industries' current 12,000-square-foot facility has a lab, which provides bath analysis and X-ray for fluorescence thickness control, according to the company website. The company was started in 1997 as a job shop electroplating facility.
The Public Facilities Board in May sold 4.3 acres in its Kendrick Avenue industrial area for $322,500 to Nelson Family Enterprises of Sioux City, Iowa. The company, which owns wholesale food warehouses across the country, plans a warehouse and distribution center for Frito-Lay.
Powers of Arkansas, a commercial heating and air conditioning company based in North Little Rock, in November bought roughly 4 acres in the Kendrick Avenue industrial area for about $300,000.