Nichole Hannahs

Port Awaits Halliburton Deal Closing

by Nichole Hannahs on January 18, 2012 at 1:36 am

The Muskingum County Port Authority is waiting to sign the final agreement for Halliburton’s arrival to the Eastpointe Business Park.

Port Authority Executive Director Mike Jacoby said the company has been doing title searches, looking at survey’s and wetland studies.

"We haven’t encountered any problems yet," said Executive Director Mike Jacoby. "I think we’re on track to close the deal. Hopefully, within 30 days."

The agreement called for a 60 day due diligence period before closing. It also requires that the Port Authority make some upgrades to the business park.

"Our agreement calls for us to extend water lines which fortunately are just across the road," said Jacoby. "We agreed to help get a rail spur to the Job Ready Site, which we’ve already done the engineering for, go the permits for. This is something we’ve talked about for years and years, but weren’t really sure if we should spend the money not knowing who the end user of the site is."

Halliburton will be the third fortune 500 company located in the Eastpointe Business Park and will create 300 jobs in the area. Halliburton is one the world’s largest providers in the energy industry.