Construction on Beaufort County’s newest, 24,300-square-foot industry ready building is officially underway.

The facility, part of the Washington-Beaufort County Industrial Park, will be located on 5-plus acres off of Page Road, across the street from the Beaufort County Skills Center. Local contractors, engineers, landscapers and financiers are assisting with the project, including Stocks and Taylor, Dudley Landscaping, MHA Works, Inner Banks Engineering and First South Bank.

Construction of the industry ready building is a collaborative effort between the Beaufort County Committee of 100, Beaufort County Board of Commissioners and Beaufort County Economic Development. The Committee of 100 purchased 5.5 acres from the county for $38,500 and is responsible for financing and leasing of the space, according to Commissioner Frankie Waters.

Dick Barber, president of the Committee of 100, said the overall idea began almost a year ago after a visit to Bladen County, in which a similar building was constructed.

Barber said the industry ready building is meant to be flexible, and can be divided for use or expanded up to 48,600 square feet.

In addition to selling the land, Waters said the commissioners also agreed to supply $116,000 over the course of three to four years to help market the building and pay for some operating expenses. The county’s investment limit was $35,000 per fiscal year, he added.

“If (Economic Development Director Martyn Johnson) is able to sell this in the first 18 months or the first six months, you know, the county’s investment may be positive since we sold the land for $38,500,” Waters explained. “The county really shouldn’t be in the real estate business. We were never in it to make money, to build a building and turn around and sell it for some profit. But I do think the county’s responsibility is to be a partner along with the Committee of 100.”

Johnson said having an industrial space ready to go is a vital part of bringing businesses to Beaufort County.

He estimated that 70-80 percent of businesses look for building facilities when moving locations.

“Businesses know their business, but they don’t particularly know building. … They’re very hesitant to get involved. They think there’ll be all sorts of issues,” Johnson said. “Definitely having something that a business can see and touch that’s gone through all the permitting, there’s not going to be any environmental issues, any surprises or whatever… it just gives the company a lot more confidence.”

Waters said he thinks it is important to note that the business model for the industry ready building project was OK’d by all seven commissioners.

“If this building is successful, we’re ready to do the second one and a third one,” Waters said.

The county has other development projects in the works, including industrial space in Chocowinity and waterfront property in Belhaven.

“The last three years, I’d have loved to have had a building that I could’ve taken people in and shown them,” Johnson said. “In fact, we have a couple of companies that are looking at the building, but they’re waiting until it comes out of the ground until they begin to make commitments.”

Officials expect to see the construction completed by the end of this year.