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Pace Engineering Breaks Ground At Stillwater Business Park

Ground has been broken on a project at Stillwater Business Park, the City of Redding’s “shovel-ready” development off Airport Road. Pace Engineering is one of three companies that have bought land at Stillwater, but they’re the first to actually start building something. Pace is an employee-owned company that has been in business for more than 44 years. City officials say Pace has helped to invest more than $250 Million into the area economy. They’ll be building a 20,000 square foot facility with room for future expansion. Stillwater has been an albatross for the city since its inception. The industrial area off of Airport Road was completed by the city in 2010 in the midst of a slumping economy. Aggressive marketing by various firms yielded a number of serious leads but failed to attract any permanent tenants until Lassen Canyon Nursery purchased a 17 acre parcel in 2016. A 2017 Grand Jury report said the city spent nearly a Million Dollars of General Fund money per year just to maintain the empty park. The cost to buy and develop the property was $23 Million, but when debt repayments and electricity and infrastructure by REU were figured in, the cost was closer to $41 Million. The Grand Jury found that if all the parcels sold for appraised value, the city would still lose at least $27 Million. Stillwater is marketed as a “shovel ready” site, with all infrastructure in place, such as water, sewer, and electric, and it’s met all environmental and other clearances. all a company needs before breaking ground is a building permit.