SBA 504 Feasibility Study Case Study: A New Metal Fabrication Plant on a 14-Acre Site on Fort Prince Boulevard, Spartanburg County, South Carolina, Feasible as Restructured

A metal fabrication supplier to the Upstate automotive and industrial base proposes to build its own plant on the 14-acre industrial site listed by Colliers at 1492 Fort Prince Blvd in Spartanburg County, South Carolina, at $840,000, or $60,000 an acre, two miles from Interstate 85 and seven from Inland Port Greer, financed under SBA 504 with the provisions written for small manufacturers: a debenture at the manufacturer's rate, the $150,000 job standard and the fiscal 2027 fee waiver. As proposed, a 50,000 square foot pre-engineered plant with $1,600,000 of new equipment at a total project cost of $9,647,700 and the standard 10 percent contribution carries an occupancy cost of $26.79 per square foot, of which $6.15 is South Carolina property tax at the 10.5 percent manufacturing assessment ratio, a figure equal to the Upstate's entire market rent for industrial space; the operating company and the real estate entity together have a global debt service coverage ratio (DSCR) of 1.08 times in Year 1 and reach 1.25 times only in Year 5. Restructured as a 40,000 square foot first phase on the same site, with a fee-in-lieu-of-tax agreement that sets the assessment ratio at 6 percent, a 15 percent contribution of $1,248,300 and the equipment on its own 10-year debenture, the combined entities cover at 1.35 times in Year 1 and 1.52 times in Year 5. Determination: not feasible as proposed; feasible as restructured, conditioned on the fee-in-lieu agreement, the site's jurisdiction and development standards, the power service, and the Phase I that a fabricated-metal use requires.

Model study prepared by MMCG Invest | Michal Mohelsky, J.D., FMVA | October 3, 2026

MMCG concludes that the proposed plant at 1492 Fort Prince Blvd is not feasible as proposed and is feasible as restructured. The site is right for the business: fourteen acres with utilities at the line in the Fort Prince corridor, where CRG is building a 168-acre park at 1460 Fort Prince Blvd, two miles from Interstate 85 in a county whose manufacturing sector employs 36,075 people, 23.9 percent of its workforce, and whose 2025 project announcements ran to $3.5 billion and 1,024 jobs. The program fits too: a small manufacturer with 44 employees qualifies for the 504 debenture at the manufacturer's rate, 6.30 percent effective in September 2026 against 6.54 percent for other borrowers, with the fiscal 2027 upfront and annual fees waived and a job standard of $150,000 per job rather than $95,000.

The proposal fails on the operating company's occupancy cost, and the cause is South Carolina's property tax. Real property owned by a manufacturer and used in manufacturing is assessed at 10.5 percent of fair market value rather than the 6 percent that applies to a warehouse or any other commercial building, and at the combined county and school millage the 2024 levy sheet shows for the district, about 311 mills, a $8,047,700 plant pays about $263,000 a year on the real estate and $44,400 on the equipment at its depreciated assessed value, $307,400 in all, or $6.15 per square foot, which is within six cents of the Upstate's entire market asking rent of $6.21. Added to the $19.85 per square foot of rent the real estate entity needs to cover a $770,200 debt service at 1.25 times, the operating company's occupancy cost is $26.79 per square foot, $1,339,600 a year, against an operating cash flow before occupancy of $1,330,000; the company would run at a loss, and the two entities together cover total debt service at 1.08 times in the first year.

Restructured, the plant works on three changes. A fee-in-lieu-of-tax agreement with Spartanburg County, which the county negotiates for investments of $2,500,000 and more, sets the assessment ratio at 6 percent for up to thirty years and cuts the tax to $170,000. The building is built in a 40,000 square foot first phase, which the company's current 32,000 square feet and growth plan support, with the balance of the site held for a second phase, which cuts total project cost to $8,321,900. And the borrower's contribution rises to 15 percent, $1,248,300, with the equipment on its own 10-year debenture in both structures. On that structure the real estate entity's rent is $819,800, the company's occupancy cost is $25.57 per square foot on a smaller building, and the combined entities cover at 1.35 times in Year 1 and 1.52 times in Year 5, with the company's revenue able to fall 26 percent before coverage reaches 1.0 times. The determination is conditioned on the fee-in-lieu agreement, on confirmation of the parcel's jurisdiction and development standards, on Duke Energy's commitment for the service, on a Phase I, which SBA's environmental rules require for a fabricated-metal use, and on the CDC's classification of the building as general purpose, since a plant with crane rails and heavy power can be argued either way.

This is an MMCG model study: a complete feasibility analysis performed on a real, publicly marketed industrial site using public data, prepared to show 504 lenders, certified development companies and manufacturers how MMCG tests a new owner-user plant against the site, the county's development standards, the state's tax treatment of manufacturers and the program. It is not a client engagement. MMCG has no relationship with the landowner, Colliers, Spartanburg County or any prospective buyer, and the analysis does not represent an offer, an appraisal or a recommendation to buy the site. The operating company is a model operator constructed for the study, not a real business. Figures drawn from the listing, Spartanburg County's ordinances and levy sheets, the South Carolina Department of Revenue, the South Carolina Department of Transportation, OneSpartanburg, the South Carolina Department of Employment and Workforce, the Upstate SC Alliance, CBRE's second-quarter 2026 Upstate report and the Spartanburg County listing inventory are identified as such. Figures labeled MMCG assumption are underwriting inputs set by MMCG, including the building cost, the equipment budget, the operating company's financial profile and the bank rate. Items that could not be verified from a primary source at the study date are listed in the Conditions and Limitations section rather than estimated silently: the parcel's tax map number, its jurisdiction and tax district, the 2025 levy sheet and the exact combined millage, the ULMO's bufferyard widths and height rule, the electric provider and the current Duke Energy large general service tariff, the water and sewer providers' tap fees, and the Colliers listing page itself, which was read through aggregator copies.

The operating company is a contract metal fabricator organized in 2017, with 44 employees, about $14,000,000 of sales and an operating cash flow before occupancy cost of 9.5 percent, or $1,330,000, growing 4 percent a year (MMCG assumption for the model operator), supplying weldments, enclosures, brackets and machined components to automotive, HVAC and industrial equipment manufacturers in the Upstate and western North Carolina. It leases 32,000 square feet in two buildings at $5.94 per square foot and has no room for a second laser cell or a powder coating line. Its principals will form an eligible passive company to buy the site, build the plant and lease it to the operating company under a net lease running at least the term of the loan; the operating company will occupy the whole building and guarantee the loan, and will buy $1,600,000 of new equipment, a fiber laser, a press brake and a powder coating line, financed through the 504 project on a 10-year debenture.

Operations plan

Production runs two shifts on the laser and press brake and one on welding and finishing, with a plant manager, a quality manager, two engineers, four office staff and 36 production employees at the move, growing to 52 employees by Year 3. The company's customers, backlog and trailing statements are the demand evidence in the file, and the study requires three years of statements and the current backlog as a condition.

Building program (as proposed)

The site is 14 acres, 609,840 square feet, on Fort Prince Boulevard in the Wellford area of western Spartanburg County, in a corridor that has become the county's distribution and manufacturing frontier: CRG's 168-acre Cubes at Fort Prince at 1460 Fort Prince Blvd, the Tyger Lake Industrial Park's 72 entitled acres with heavy power at 2002 Fort Prince Blvd, Fort Prince Industrial Park's 33 acres in parcels of 12 to 21 acres with a 150,000 square foot master plan, and the Fort Prince Exchange spec project. The listing places the site near Adidas, FedEx and BMW, with gas, water, power and telecommunications on site and access to Interstates 85 and 26 within a few miles; the adjacent park listings put Interstate 85 at about two miles, Interstate 26 at about five, Inland Port Greer, which handled 175,873 rail lifts in 2023, at about seven, and Greenville-Spartanburg International Airport at about nine. The South Carolina Department of Transportation's 2024 counts put Fort Prince Boulevard at 2,100 to 3,300 vehicles a day on the two stations it reports, with Interstate 85 at 109,300 and Interstate 26 at 60,200.

Spartanburg County's manufacturing base is the demand for a fabrication supplier. The state's July 2026 community profile names BMW Manufacturing, Michelin North America, Cryovac, Siemens Industry and Plastic Omnium Auto Exteriors among the county's largest employers, with county employment of 163,821 in 2025; BMW alone employs more than 5,000. OneSpartanburg reported twenty projects in 2025 with $3.5 billion of capital investment and 1,024 jobs, among them Woodward at $200 million and 275 jobs, AIRSYS Cooling Technologies at $40 million and 215 jobs in Woodruff, ZF Chassis Systems at $55.4 million in Duncan, Tindall Corporation at $49.9 million, FabLogix at $9.8 million and 150 jobs in Duncan, and Auria Solutions at $8.9 million and 67 jobs; FabLogix and Auria are the scale of the subject.

The site's liabilities are its jurisdiction and its cost of carry. Whether the parcel lies in unincorporated Spartanburg County under the Unified Land Management Ordinance, inside the Southwest Planning Area under the Performance Zoning Ordinance that took effect on July 15, 2026, or inside the City of Wellford, whose town levy appears on the county's levy sheet, was not resolved from public sources and decides the development standards and the millage. And the price is only the beginning: at $60,000 an acre the land is 9 to 10 percent of total project cost, in line with the one comparable priced tract at $55,665 an acre on Gap Creek Road in Lyman, but the county's manufacturing assessment, not the land, is what the capital stack has to carry.

Spartanburg County does not have traditional zoning that assigns districts to parcels. The Unified Land Management Ordinance applies to designated portions of the unincorporated county outside the Southwest Planning Area, and the Performance Zoning Ordinance applies inside it; both regulate development by performance standards for setbacks, bufferyards, parking and access rather than by use tables, and the county's own guidance states that development meeting the ordinance's requirements is permitted anywhere in the unincorporated area unless deed restrictions provide otherwise. All commercial and industrial development must take access from a paved state, county or municipally maintained road, which Fort Prince Boulevard, state route S-60 and SC 129, is.

Under the ULMO as read, Table 3b sets light and heavy industrial setbacks at 50 feet from the right-of-way on an arterial and 40 feet on a collector, 20 feet at the rear and 15 feet at the sides, with each foot of building height above 35 feet adding a foot to the side and rear setbacks under footnote Y; the ordinance's height column was not read as a fixed cap, and a 28 foot clear building with a 34 foot eave sits inside the 35 foot line in any case. Table 4 assigns bufferyard classes by adjoining use: an industrial use adjoining another industrial use requires no buffer, and a light industrial use adjoining a single-family use requires a class 3 bufferyard, whose width and planting are in a table not retrieved. Table 6 requires one parking space per employee on the largest shift plus one per company vehicle left on the premises for manufacturing, which the 80 spaces meet for a 52-employee plant, and off-street loading sufficient to keep vehicles out of the public street. No impervious coverage limit was found in the text read.

The entitlement path is a land development permit under the applicable ordinance, with no rezoning, variance or conditional use, provided the parcel is in the unincorporated county. The study carries as conditions the county's confirmation of the parcel's jurisdiction and ordinance, the bufferyard class and width on each boundary, and the stormwater permit, and notes that if the parcel is inside Wellford the city's ordinance and levy apply instead.

The listing states that gas, water, power and telecommunications are on site. The electric provider for the parcel was not confirmed; Duke Energy Carolinas is the likely provider, and its South Carolina large general service schedule, as summarized from the regulatory database in its November 2025 version, carries a basic charge of about $29 a month, energy charges from about 7.0 to 14.9 cents per kilowatt-hour across tiers, and a demand charge of $4.62 per kilowatt above 30 kilowatts for customers with demand over 75 kilowatts; the plant's power cost sits inside the operating company's statements and the schedule text is a condition. A 2,000 ampere, 480 volt service for a laser cell and a powder line is a service upgrade, and Duke Energy's commitment and schedule for it are conditions, since power lead time sets the construction timeline for a plant of this kind in 2026. Gas is presumed to be Piedmont Natural Gas, water the Startex-Jackson-Wellford-Duncan Water District and sewer the Spartanburg Sanitary Sewer District, none confirmed for the parcel and none with published tap fees; the budget carries $120,000 for utility connection, tap and capacity fees as an MMCG assumption.

Property tax is the study's central line. Under South Carolina Code Section 12-43-220, as the Department of Revenue's economic development guidance states it, real property owned by or leased to a manufacturer and used in manufacturing is assessed at 10.5 percent of fair market value, and manufacturers' personal property at 10.5 percent, against 6 percent for other commercial real property; a company investing at least $2,500,000 may negotiate a fee-in-lieu-of-tax agreement with the county that reduces the ratio to as low as 6 percent for up to thirty years, with job pledges and clawbacks, as Spartanburg County's practice was described in December 2024. The study applies a combined county and School District 5 rate of 311.2 mills on the assessed value, the district total on the county auditor's 2024 levy sheet, consistent with the county association's published county-only total of 85.6 mills; the 2025 sheet was not located, and the rate is to be confirmed against it. On that basis the as-proposed plant pays $263,000 on $8,047,700 of real property and $44,400 on $1,600,000 of equipment carried at 85 percent of cost as its depreciated assessed value (MMCG assumption), $307,400 in all; the restructured plant under a fee-in-lieu agreement at 6 percent on the real property pays $125,500 on $6,721,900 and the same $44,400 on equipment at the statutory ratio, $170,000 in all. Insurance is carried at 0.40 percent of real property value (MMCG assumption).

The demand case for an owner-user plant is the operating company's order book, and the market analysis serves to test the building against the alternative of leasing or buying, and to establish the collateral the bank will hold.

CBRE's second-quarter 2026 report on the Greenville-Spartanburg industrial market puts vacancy at 5.3 percent, down 80 basis points in the quarter and from 7.4 percent a year earlier, on 244.8 million square feet of inventory, with 2.4 million square feet of net absorption in the quarter, 2.1 million under construction, and an average asking rent of $6.21 per square foot net; the Spartanburg West submarket, which includes the Fort Prince corridor, absorbed 1.1 million square feet on 1.4 million of leasing activity. Small manufacturing buildings for sale in the county at the study date ranged from $34.95 per square foot for a 20,000 square foot building on Strickland Drive to $105.00 for a 60,000 square foot building on Watershed Way, with 2165 Highway 292 in Inman at $85.31 for 70,368 square feet, 4139 S Church Street Extension in Roebuck at $80.61 for 40,875, 725 Bryant Road at $72.78 for 37,100 and 425 Foster Street in Cowpens at $49.68 for 78,000; the median of the six is about $76.70. Against that inventory the subject's real property cost of $160.95 per square foot as proposed and $168.05 as restructured is twice the price of the existing stock, which is the usual position of a new build in 2026 and the reason the study tests an acquisition as a sensitivity. The existing buildings do not offer 28 foot clear height, a crane bay, 2,000 amperes or a powder line's ventilation, and the company's reason for building is the process, not the square footage.

For an owner-user plant the competitive inventory is the set of buildings and sites the company could buy instead; the study identified the following at the study date, with years built and clear heights not shown on the index pages and disclosed.

Comparable Number 1 2165 Highway 292, Inman A 70,368 square foot manufacturing building listed at $6,000,000, or $85.31 per square foot.

Comparable Number 2 191 Watershed Way, Spartanburg A 60,000 square foot industrial building listed at $6,300,000, or $105.00 per square foot.

Comparable Number 3 725 Bryant Road, Spartanburg A 37,100 square foot manufacturing building listed at $2,700,000, or $72.78 per square foot.

Comparable Number 4 4139 S Church Street Extension, Roebuck A 40,875 square foot manufacturing building listed at $3,295,000, or $80.61 per square foot.

Comparable Number 5 425 Foster Street, Cowpens A 78,000 square foot manufacturing building listed at $3,875,000, or $49.68 per square foot.

Comparable Number 6 170 Strickland Drive, Spartanburg A 20,000 square foot manufacturing building listed at $699,000, or $34.95 per square foot.

Comparable Number 7 942 Gap Creek Road, Lyman A 15.27-acre tract described as prime for transition to commercial or industrial development, listed at $850,000, or $55,665 per acre, the only priced land comparable of five acres or more readable at the study date.

Comparable Number 8 Fort Prince Industrial Park, Fort Prince Boulevard, tax map 5-12-00-018.00 Colliers lists 33 acres of development-ready industrial land in parcels of 12 to 21 acres, with a master plan for 150,000 square feet, utilities on site or adjacent, and a completed due diligence package, two miles from Interstate 85 and seven from Inland Port Greer; price on request.

In an owner-user file the real estate entity's rent is set to its requirement, and the test is whether the operating company can pay it. As proposed, the rent is $992,500 a year, $19.85 per square foot net, which covers debt service of $770,200 at 1.25 times after a 3 percent allowance for the entity's own costs; with property tax of $307,400, insurance of $32,200 and a reserve of $7,500, the company's occupancy cost is $1,339,600, or $26.79 per square foot, against $5.94 in its leased space today. As restructured, the rent is $819,800, $20.49 per square foot on 40,000 square feet, and with tax of $170,000, insurance of $26,900 and a reserve of $6,000 the occupancy cost is $1,022,600, or $25.57 per square foot.

The lender's check is the appraisal, and here the study is direct. At the market rent of $6.21 and a 7.5 percent capitalization rate (MMCG assumption), the income approach indicates about $3,300,000 for a 40,000 square foot building and about $4,100,000 for a 50,000 square foot building, below the bank's first lien in either case; the collateral in an owner-user plant is underwritten on the cost approach and on the value of the plant in use, and the bank's first lien of $4,160,900 as restructured is 62 percent of the $6,721,900 real property cost. That is why the file is a 504 loan and not a conventional one: the CDC's junior position and SBA's guarantee of it are what let a bank lend at 50 percent of cost on a building whose income value is lower.

Land closing is carried in the first quarter of 2027 on confirmation of the jurisdiction and the fee-in-lieu agreement, with the land development permit and building permit through the second quarter, a nine-month construction period for a pre-engineered building and the power service, equipment installation in the fourth quarter, and occupancy in the first quarter of 2028, carried as Year 1. The interim construction loan is funded by the bank for the full project less the borrower's contribution and is taken out by the debenture at completion.

Location: 1492 Fort Prince Blvd, Spartanburg County, SC 29385 Size in SF (Gross): 50,000 as proposed; 40,000 as restructured Land: 14 acres

Source: MMCG; contractor and design-build quotes published in 2026 for light industrial and assembly buildings of $100 to $150 per square foot

Building cost of $105 per square foot is carried at the low end of the published 2026 range for light industrial and assembly space, which a pre-engineered structure on a flat, entitled site with utilities at the line supports, and at the top of the $60 to $110 published for conventional small-bay shells, because the slab, the crane runway, the office finish and the process ventilation are a manufacturer's specification. The restructured building costs more per square foot than the as-proposed one because the land, the utility fees and much of the site work do not shrink with the building, which is the arithmetic of phasing. The guaranty fee of 0.50 percent is waived for manufacturers in fiscal 2027; the CDC processing, funding and underwriting fees remain and are carried at about 2.15 percent of the debenture.

Loan Assumptions (as proposed)

Loan Assumptions (restructured)

The restructuring cuts total project cost by $1,325,800 through the smaller first phase, adds $283,500 of equity, and cuts debt service by $134,000 a year; the fee-in-lieu agreement and the smaller building together cut property tax by $137,400, of which the agreement accounts for $94,100 on the first phase. The two together reduce the operating company's annual occupancy cost by $317,000, from $1,339,600 to $1,022,600, which is the whole of the difference between a company that loses money in its own building and one that covers its debts 1.35 times.

The project is an eligible SBA 504 project: an eligible passive company will own the real estate and lease it to an operating company that occupies 100 percent of it, guarantees the loan and uses it in its own manufacturing business, and the 504 project finances the land, the building, long-lived equipment and the soft costs of an owner-occupied business. The operating company is a small manufacturer under SBA's definition, in NAICS sector 332 with all of its production in the United States, which brings four provisions into the file. The debenture may run to $5,500,000 per project under 13 CFR 120.931, against which the as-proposed $3,859,100 and restructured $2,912,700 are well inside. The job opportunity standard is one job per $150,000 of debenture, which is 26 jobs as proposed and 20 as restructured, against the company's 44 employees and its plan to reach 52, met on retention. The fiscal 2027 fee notice, Information Notice 5000-881796, waives both the 0.50 percent upfront guaranty fee and the 0.203 percent annual service fee for manufacturers on loans approved from October 1, 2026 through September 30, 2027. And the debenture is priced at the manufacturer's rate, 6.30 percent effective on the 25-year debenture in September 2026 against 6.54 percent for other borrowers, a difference that reflects the waived annual fee; the study quotes the month of funding.

The borrower contribution is 10 percent under 13 CFR 120.910, because the operating company has operated for more than two years and the building is classified as general purpose; the study carries 10 percent as proposed and 15 percent as restructured as a lender's condition. The classification is a condition because a pre-engineered plant with a crane runway and a 2,000 ampere service can be argued to be special purpose by a conservative CDC, which would set the contribution at 15 percent in any case; the study notes that the building converts to warehouse or distribution use by removing the crane and reducing the service at modest cost, and carries the general-purpose classification for the CDC to weigh. SOP 50 10 8.1, effective October 1, 2026, governs the file; the project is new construction, not an acquisition, so Appendix 15 does not apply. The combined SBA exposure is inside the $10 million limit that took effect on July 4, 2026, and a manufacturer may carry an unlimited number of 504 loans across distinct projects, so the second phase can be financed the same way.

The environmental screen is not optional. Fabricated metal product manufacturing, NAICS 332, is among the industries SBA lists as environmentally sensitive, with an exception only for assembly-only operations, and a laser, a press brake, welding and a powder coating line are not assembly; SOP 50 10 therefore requires the environmental investigation to begin with a Phase I regardless of loan size, which the budget carries, and the operating company's air permit for the powder line and its wastewater arrangements are conditions of the construction loan.

The real estate entity's statement under a net lease to a single occupant is the rent less a 3 percent allowance for the entity's legal, accounting and reserve costs, which produces net operating income of $795,200 as restructured against debt service of $636,200, or 1.25 times, rising to 1.35 times by Year 5 on 2 percent escalations. The lender's test in an owner-user file is the global cash flow of the two entities together: the operating company's cash flow before occupancy cost, less the property tax, insurance and reserve it pays under the net lease, less income taxes and owner distributions, against the operating company's own debt service and the real estate entity's debt service combined, since the rent is internal.

The operating company's existing equipment debt service of $140,000 is carried through the projection (MMCG assumption). Income taxes and distributions are carried at 35 percent of the company's pre-tax income after rent and interest, which as proposed is nil in the first two years because the company has no pre-tax income after its occupancy cost, a statement of the problem rather than a saving.

The combined entities cover from the first year at 1.35 times and build to 1.52 times by Year 5. As proposed at 50,000 square feet, 10 percent equity and the statutory assessment, the same company's cash flow carries an occupancy cost of $1,339,600 in Year 1 against $1,330,000 of cash flow before occupancy, and the combined entities cover total debt service of $910,200 at 1.08 times in Year 1, 1.13 times in Year 2, 1.18 times in Year 3, 1.21 times in Year 4 and 1.25 times in Year 5; the proposal reaches the lender's floor only in the final projection year and with little left for its owners in any year, and the as-proposed row is the determination.

In an owner-user file the break-even is the operating company's revenue, not the building's occupancy. At the restructured structure and a 9.5 percent cash flow margin, the company covers total debt service at 1.0 times on revenue of $10,305,200, 74 percent of plan, and at 1.25 times on revenue of $12,803,500, 91 percent of plan. As proposed, the company needs $13,234,900, 95 percent of plan, to reach 1.0 times and $16,056,600, 115 percent of plan, to reach 1.25 times.

The restructured plant carries a 26 percent revenue cushion to 1.0 times, which for a contract fabricator with a diversified customer list is the margin a lender wants; as proposed the cushion is 5 percent, which is a single lost customer.

The sensitivities show which lever matters. The fee-in-lieu agreement alone lifts the as-proposed plant from 1.08 times to 1.19 times, the smaller first phase alone to 1.23 times, and the two together with the equity to 1.35 times; neither alone reaches the lender's floor in the first year. The restructured plant holds above 1.0 times with revenue a quarter below plan, and the controlling sensitivity is the company's order book, which the lender underwrites from the statements and the backlog rather than from the market.

The determination of not feasible as proposed and feasible as restructured is subject to the following conditions precedent on the restructured program:

The following items could not be verified from a primary source at the study date and are disclosed: the Colliers listing page itself, which was read through aggregator copies showing earlier asking prices of $910,000 and $1,190,000; the parcel's tax map number, acreage of record, appraised and assessed values and last tax paid; whether the parcel lies inside the City of Wellford or the Southwest Planning Area; the 2025 levy sheet and the combined millage for 2025, which the 2024 sheet puts at about 311 mills for the county and School District 5; the ULMO's bufferyard widths, height rule and impervious coverage provisions, and the Performance Zoning Ordinance's dimensional tables; the electric provider and the text of Duke Energy's large general service schedule; the gas, water and sewer providers and their tap fees; the distances from the parcel to Inland Port Greer and the airport; any partial exemption that reduces the effective manufacturing ratio, which the study carries at the statutory 10.5 percent as the conservative case; and the year built and clear height of the comparable buildings.

This model study applies the methodology described on MMCG's manufacturing facility feasibility study and SBA warehouse feasibility study pages. MMCG prepares industrial feasibility studies for SBA 7(a) and 504, USDA Business and Industry and conventional lenders nationwide, with engagements from $4,900 and delivery in 9 to 16 business days.