Hobart welding school buys large, prominent Troy parcel along I-75
Dec. 20—TROY — The Board of Directors of the Hobart Institute of Welding Technology, a nonprofit career training center operating in the community for more than 90 years, announced Monday the organization purchased 66 acres just west of Interstate 75 from the Troy Development Council.
The institute is paying the TDC $2.275 million for the property located east of Experiment Farm Road, north of West Main Street and south of the Pella windows facility.
No immediate plans are set for the land, said Tom Funderburg, Hobart Institute of Welding Technology interim president. HIWT operations now are located in the Westbrook area of Troy, east of I-75 and north of Main Street.
Although there are no plans established, the institute board "realized the potential of this property and made this proactive investment," Funderburg said Tuesday. "The location and size of the parcel provides a variety of development options for HIWT. Now that the land has been secured, over the next year the board will continue to assess the future scope of the Institute with this land in mind."
The Troy Development Council bought the land at 1401 Experiment Farm Road in January 2020 for $1,537,830. Funding came from four banks that support the TDC and an $800,000 low-interest loan from the city general fund, through the city Community Improvement Corp.
The property "was one of the premier industrial sites in the Dayton region, and we never had a lull while we owned the site," Joseph Graves, chief executive officer of the Troy Development Council, said.
While being excited about potential job creation on the site, the TDC and the city were also aware of local industries having difficulty filling open positions, so, they had to be conscious of the type and size of user to be placed on the site, Graves added.
"We wanted to be respectful to our current employers and, with the HIWT purchase, I believe we have accomplished our goal when we initially purchased the property: 'To continually improve the quality of life for Troy area residents through progressive planning and focused public/private initiatives to achieve a thriving local economy.' "
The city of Troy worked hard with TDC to find the perfect buyer and end user for the land, said Patrick Titterington, Troy's service and safety director.
"We believe we hit a home run with HIWT because we can support the growth of a worldwide leader in welding technology, support our local manufacturers and provide well-paid jobs that won't directly compete with those manufacturers," Titterington said.
The city and TDC continue to review available space for future potential control or marketing, he said.
"There is land available that is well-positioned with infrastructure and proximity to transportation corridors. Gaining control of those properties is a short-term future goal of the city and TDC," Titterington said.
The Hobart Institute of Welding Technology has 55 employees and serves an average 665 students a year.
Contact this contributing writer at nancykburr@aol.com
