New businesses arrive at ILM Business Park with $ 120 million investment

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WILMINGTON, North Carolina (WWAY) – Today, Wilmington International Airport made two major economic development announcements, both promising to bring millions of dollars in investment to the ILM business park.

Airport officials have announced that two companies, Edgewater Ventures and CIL Capital, will join the ILM business park.

Edgewater Ventures and CIL Capital will contribute a total of $ 120 million in investments to the ILM business park.

Mike Hockett, CEO of CIL Capital, said the company has signed a long-term lease on the airport property and looks forward to getting its storage and distribution facility plans for the science industry coming to fruition. life.

“It’s going to be in the order of $ 100 million, and we’re going to build about 500,000 square feet of a cold storage facility. This will definitely add capacity to ILM, and we also hope to work with the expansion of the port, ”said Mike Hockett, CEO of CIL Capital.

Edgewater Ventures has signed a long-term lease for 30 acres and plans to construct three buildings for a Class A speculative industrial development.

Chris Norvell, Senior Industrial Development Partner at Edgewater Ventures, says the new development will be of great benefit to the local economy.

“It is certain that the creation of jobs, with our project as with that of Mike, you know that there is an opportunity to create. I’ll say Wilmington, you know, has been a very – a relatively small, dormant industrial market, you know over the years, but what we’re planning to build is state of the art facilities. technology that would be comparable to anything you might see in any market across the country, ”said Chris Norvell, Senior Industrial Development Partner, Edgewater Ventures.

Airport Authority president Donna Girardot said discussions regarding the new additions had been underway for months.

“Wilmington has so much for sale, with our downtown area, our beaches, our parks and everything in between, that it’s just a perfect facility. I think this is a perfect place for everyone, and we said to both of them, “We’ll hold your hand through the process, we’ll walk you through the process. authorization, we will guide you through the technical review process, ”said Donna Girardot, airport authority. President.

Girardot also said it was a promising sign for future developments at the ILM business park.

“I think it’s indicative, through our county commissioners and our city council, certainly through the airport authority, we have definitely made it known that we are open for business,” Girardot said.

Airport officials said the two companies coming to ILM should help increase the local tax base, create jobs and improve economic development opportunities in the region.

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