TEK Center ribbon cutting June 2
BY PHILL BARNETT
MOUNTAIN CITIZEN
INEZ — The Martin County Economic Development Authority met for their regular monthly meeting May 10 to discuss Boxvana leaving the Honey Branch Industrial Park.
The board approved financials and housekeeping for the May meeting without much discussion and moved on to the main agenda item for the evening.
“The word ‘saga’ is defined as a long, involved story, account or series of incidents, and that’s certainly what this has been,” EDA board chairman James Ayers said, referring to the extended series of legal filings and public disputes involving the tiny home manufacturer’s presence in Martin County.
Boxvana opened in the industrial park in Debord in the spring 2020 and began manufacturing luxury tiny homes during a time when the economy was beginning one of its largest dips in our nation’s history due to the coronavirus pandemic, an unforeseeable misstep.
By spring 2022, Boxvana had fallen behind on rent and had acquired six figures in penalties owed to the EDA.
Though the EDA sought eviction for months, Boxvana was able to extend its stay on Honey Branch by filing Chapter 11 bankruptcy.
In October 2022, the EDA rejected a lease renewal that Boxvana claimed was necessary to properly shut down operations.
“I’m glad to be able to report tonight that that saga is almost at a complete end,” said Ayers.
Boxvana officially vacated the Honey Branch industrial park Friday, May 5.
The county has changed the building’s locks and security cameras and cleared it of major debris. The space has already been listed back on the market with the help of One East Kentucky, the economic development agency headed up by CEO and former Martin County Judge/Executive Colby Kirk.
Chairman Ayers pointed out that since the building was last leased in 2020, construction and materials costs have increased significantly, making the facility an even more prime location for companies relocating or setting up shop in eastern Kentucky.
“For a lot of reasons, I think we’re going to be successful with that building,” said Ayers.
The Martin County Fiscal Court will apply for a KPDI grant to further improve the building to increase its value and longevity. The board voted to allow Ayers to sign any necessary resolutions and agreements necessary to facilitate that grant application.
In October, Gov. Andy Beshear and Hal Rogers attended the SOAR Summit in Pikeville and announced a $3 million Abandoned Mine Land Economic Revitalization grant to Thunder Ridge Property Acquisition. Thunder Ridge, the former dirt track racing speedway, will use the money to develop an industrial park in Floyd County, where Boxvana intends to construct a 200,000-square-foot facility.
TEK Center
Tek Center Inc., the newly opened technical training academy located in the Martin County Business Center, will be holding an open house June 2, complete with a ribbon cutting.
The EDA voted to complete some basic maintenance work on and around the building, including sidewalk pressure washing, in advance of the open house.