Published on April 09, 2024
Exciting development opportunities are underway in Maricopa, as the city takes another bold step aimed at bringing jobs to our community over the next several years. On Tuesday evening, Rick Horst, the city’s Chief Economic Strategy Officer, shared a compelling presentation with the City Council that sheds light on a monumental endeavor—the acquisition of land in order to facilitate the construction of an industrial corridor and potential SMARTRail Park in Maricopa. “It has been said many times that we’re not here to grow the prosperity of the city corporate, but the prosperity of its people,” Horst shared. “A big part of doing that is playing catch-up to compete with larger cities who have assets we are working hard to get, this project being one of them.” The proposed SMARTRail Park project aims to usher in a new era of development, with the potential to bring thousands of new jobs to our community over the course of several years. At the heart of this initiative lies a strategic location along Maricopa - Casa Grande Highway and an existing rail system that beckons manufacturing and distribution tenants. With the capacity for millions square feet of Class A industrial space, the SMARTRail Park promises to be a cornerstone of economic opportunity for Maricopa. “In order to make this happen, we need to be a catalyst to move things forward,” Horst explains. “The city has grown rather quickly, so in order to do this, we had to find a way to assemble enough acres of land to make it worthy of someone to come in and make the infrastructure investment.” So, the City Council unanimously approved the acquisition of 308 acres, expanding our land holdings to a total of 608 acres. An additional 840 acres surrounding the area remain available for acquisition at a later date by developers or the city. The $29 million investment, equating to a mere $2.18 per square foot, is financed through cash revenues, ensuring fiscal responsibility without incurring any debt or tax burden on our citizens. An investment Horst says will benefit the city. “The projected appreciation of the land far surpasses any potential interest accumulation, showing how this is a win-win financial strategy,” he shares. Horst anticipates releasing an Invitation for Bids (IFB) in mid-April, inviting multiple prospects to participate in this transformative project. "The jobs generated by the industrial hub we are working towards will not only invigorate our local economy but also serve as a lifeline for our residents, ensuring that they can work and thrive right here in Maricopa,” Mayor Nancy Smith exclaimed. “We are committed to building a legacy of innovation, opportunity, and prosperity for generations to come.” Watch Horst’s full presentation below.