Princeton-Caldwell County IDA Buys Facility

By Jacque Day

Princeton, KY – The Princeton-Caldwell County Industrial Development Authority has bought the U.S. 62 West industrial building last occupied by AFCO Manufacturing. The building went on the market in March, after AFCO moved its operation to Boonville, Indiana. The Times-Leader reports, Princeton Mayor and IDA board member Gale Cherry says the purchase was completed in early December, and the IDA paid $800,000, though the original asking price was $1.3 million. Cherry says space in the nearly 70,000-square-foot facility will be rented on a month-to-month basis, to allow the option for another industry to take up permanent occupation in the building. (Times-Leader)