Princeton lands another tech park company

PRINCETON — After months of inactivity, a second company in two weeks has bought property in the Princeton Technology Park.

At Monday’s meeting, the Princeton City Council approved an ordinance to go forward with the sale of two lots to SCE USA Inc., a European company that makes special-application electric motors for a global market. The company is setting up a United States base in Chicago and will manufacture, distribute and service products from its Princeton facility.

SCE USA is buying 5.4 acres directly south of the Bureau County Republican, at a price of $10,000 per acre.

Princeton Zoning Officer Pete Nelson said SCE USA wants to close on the deal quickly and to start work at the site as soon as possible. The company hopes to start operations this summer. When opened, the business expects to have approximately six employees but hopes to grow and expand that number in the future, Nelson said Monday afternoon.

SCE USA joins McKeown International Inc. as the latest businesses to buy property in the Princeton tech park, located on the northeast edge of town.

Also at Monday’s meeting, the city council approved a sale agreement with McKeown International Inc. to buy two lots on the northeast corner of the tech park, at a cost of $21,000. The two lots cover three acres of land. McKeown is a global company which deals with small manufacturing. The company plans to be in operation by mid-July.

These recent sales show Princeton is part of the bigger business world, Nelson said.

“We are definitely in a global economy,” he said.

When asked to what he credits the recent activity in the tech park, Nelson said he thinks the economy is starting to show some signs of life and companies may finally be looking toward growth and expansion.

Though the city doesn’t have any other serious lookers at the present time for the tech park, that can change quickly, Nelson said. The city gets regular calls on the tech park and the city will continue to actively market the park, he said.

With SCE USA, McKeown International, and the city’s new water department plant project joining the Bureau County Republican in the tech park, Princeton will have a very favorable image from Interstate 80, Nelson said. Developers like to see a city that is progressive, he said.