Business park still growing Holabird, marking its 20th anniversary, will get new facility

Commercial real estate

October 31, 1997|By Suzanne Wooton | Suzanne Wooton,SUN STAFF

Marking the 20th anniversary of Holabird Industrial Park, city officials announced yesterday that an East Baltimore aerospace parts manufacturer will build a 60,000-square-foot facility at the entrance to the park.

The firm, Adcor Industries, plans to purchase 5.5 acres from the city and construct a facility to house its sister company, Zycor Technologies, which is located in Lansdowne in Baltimore County.

The company's plans were revealed yesterday by Mayor Kurt L. Schmoke during a re-dedication ceremony for the one-time Army post that the city took over from the federal government in 1977 and converted to an industrial park. It was recently renamed Holabird Business Park, reflecting the diversity of the 45 businesses there.

The Baltimore Development Corporation, which manages and develops the park, is providing Adcor with a construction loan that can be converted to a grant if certain employment levels are met. In addition, the BDC will sponsor an industrial development bond for the company to finance the remainder of the construction.

Adcor, located on South Haven Street, has 80 employees and Zycor has 40. The expansion is expected to produce 180 new jobs for the two companies over the next five years.

Founded in 1990, Adcor has capitalized recently on the boom in the aerospace industry. In March, it acquired the assets of a small company and renamed it Zycor.

"Demand for our precision parts and technology exemplifies that our growth in volume and employment will continue at an accelerated pace," Adcor President Jimmy Stavrakis said yesterday.

The company plans to expand part of its East Baltimore operation into the new building, which should be completed in a year to 18 months. "The site gives them room to expand," said M. J. "Jay" Brodie, president of the BDC. "We and they are anticipating growth."

The former Army base, which was last used as an induction center, was converted to an industrial park after the city purchased it for $4.6 million.

It has 170 acres that include 45 companies employing more than 2,300 people.

It accounts for more than $1 million annually in city property taxes and is home to five of East Baltimore's largest companies.

Among the companies located there are Guilford Pharmaceutical, Bethesda Engravers, Gascoyne Laboratories, Fila and Bacchus Inc. wine importers.

Pub Date: 10/31/97

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