SiteInvest by Cooperative Energy is designed to improve readiness and further development of available industrial properties in our Members’ service territories. Cooperative Energy joined forces with global engineering firm Burns & McDonnell to develop the program criteria and workflow. SiteInvest is designed upon a three-tier system with an initial application stage, followed by a formal Request for Information and analysis by third-party engineering experts to benchmark the site readiness and marketability of industrial sites in the region. SiteInvest is comprised of the following:
The 3-tier classification system promotes community engagement, program buy-in, and elevates communities’ awareness of the positive economic impact of industrial site development.
SiteInvest is designed to foster strategic investment using our Cooperative Competes Grant Program. An industrial site must be enrolled in the SiteInvest program through the application process to be eligible for Cooperative Competes grant funds. SiteInvest also complements the Mississippi Development Authority Site Development Program.
The first step of the program is the application. The application collects important information about the prospective industrial site and the corresponding site representative.
Tier 1 – Desktop Diligence
The purpose of Tier 1 is to obtain a comprehensive, baseline understanding of the prospective site’s status in the site readiness process. Tier 1 is intended to collect desktop due diligence about natural and built environment attributes via a formal Request for Information.
Tier 2 – Physical Site Diligence
The purpose of Tier 2 is to complete and submit all recommended physical site diligence studies. A list of recommended site diligence studies will be provided to the site representative as part of the Tier 1 sufficiency notice. The purpose of the physical site diligence studies is to verify and further support the previously completed desktop diligence.
Tier 3 – Site Positioning
Tier 3 sites are marked with a tangible outcome of a community’s Tier 2 investment. Tier 3 is designed to help the site representative establish a vision and a better understanding of how the property could develop for industrial use. After Tier 2 has been completed and approved, the site representative may have the opportunity to proceed with master planning their property. The purpose of this tier is to provide an accurate portrayal of the site’s development potential to prospective end users while incorporating the findings discovered in Tiers 1 and 2. In some instances, it may not be recommended to master plan the site, in which case the site may qualify for other investments to better prepare or market the site.
An industrial property attains the SiteInvest Property classification following the completion of all three Tiers. Properties designated as SiteInvest Properties represent significant investments by Cooperative Energy Economic Development and state and local economic development organizations. These industrial properties have all site information readily available to provide to an industrial client in a format that is well-planned, yet flexible.