GREENFIELD — City officials are mulling constructing a $2.5 million industrial building to attract development in the area.

The shell building will be ready-made for industries that might otherwise move on after considering Greenfield but finding no place to set up shop. City officials have hired a development company to oversee the project and are eyeing nearly $2.8 million of funding generated by taxes paid by businesses located in the tax increment financing district, to pay for land acquisition and construction.

City officials will market the building during economic development conversations in hopes of recouping the investment, said city utility director Mike Fruth.

Hancock Economic Development Corporation director Skip Kuker is pushing for the project, saying at least half of the companies that contact his office seek vacant manufacturing space, which is at a premium in Hancock County. The market has changed, and businesses want to move quickly when launching new operations, he said. They’re looking for ready-made space they can easily move into, Kuker said.

If a company seeks a vacant building, and Greenfield has nothing to offer, the conversation about the company locating here ends almost immediately, Kuker said.

“We’re missing out on opportunities,” he said.

For more on this story, read Tuesday’s Daily Reporter.