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Wed September 4, 2013
Kemmerich will Not Develop in Murray
Kemmerich Engineering German auto parts manufacturer has announced it will no longer develop a plant in Murray.
Economic Development Corporation C-E-O Mark Manning announced today that disagreements over the feasible cost of the project resulted in Kemmerich leaving the negotiation table and seeking other options elsewhere.
The Murray-Calloway County E-D-C planned on paying for the $6 million plant north of town, but Manning says the proposed plans would have almost doubled the price tag.
"The actual cost came in at roughly $12 million, which is $200 a square foot," he said. "We were not able to take the kind of risk for us to go out and borrow that kind of money."
Manning says the E-D-C planned to lease the 62,000 square-foot facility to Kemmerich until it was paid off. But he says at $12 million the project could not move forward.