Buyers showing interest in Peloton site

There has been considerable interest in the vacant Peloton Output Park in Troy Township with some potential buyers walking through the building, Wade Gottschalk, executive director of the Wood County Economic Development Commission, said in a recent update to the county commissioners.
Peloton Interactive, Inc. announced in February it planned to sell the building and land at the park once external construction is complete as part of a major restructuring of the company.
Initially, the company planned to invest about $400 million in the 200-acre site where it would manufacture the Peloton Bike, Bike + and Peloton Tread. Production was planned to start in 2023.
Gottschalk reported to the commissioners last week that a contractor hired by the company expects to have the walls, roof and some flooring completed by the end of July.
The company estimates it had invested about $100 million in the area before deciding it couldn’t proceed with plans for the site.
Gottschalk told the commissioners there has been interest in other parts of the county and that some projects are moving forward despite higher interest rates.
He also reported to the commissioners that Perrysburg Township trustees are requesting an expansion of a current enterprise zone to include the entire township.
He said the required data for an expansion is being accumulated and will be forwarded to the state.
Administered by the Ohio Department of Development, enterprise zones are designated areas of land in which businesses can receive tax incentives in the form of tax exemptions on eligible new investment.
The program can provide tax exemptions for a portion of the value of new real and personal property investment (when the personal property is still taxable) when the investment is made in conjunction with a project that includes job creation.