TIPTON — Although there was only a slight increase in the number of building permits issued in the city of Tipton last year, the value of those permits jumped significantly.
The number of permits issued in 2010 totaled 36 and climbed to 47 last year, said Tipton City Planning Director Steve Edson.
Edson said the value of permits issued in 2011 amounted to $18,894,280, which is 40 times higher than the value of $466,318 for the 2010 permits.
“There were not a large number of permits, but there were several big problems,” he said.
Edson said following the start of the recession in 2008, there was 30 percent decline in the number of permits issued in both 2009 and 2010.
“That was an extraordinary number,” he said of the value of the 2011 permits. “I’m pleased with the investment in the city. That is an outstanding number.”
Park 100, which processes and distributes food, obtained permits in 2011 with a value of $16 million. The new Casey’s General Store received a permit with a value of $1.6 million for a new store, Pioneer reported a $750,000 expansion and the remodeling of the McDonald’s restaurant was valued at $450,000.
“Park 100 dwarfed everything else,” Edson said.
Tipton Mayor Don Havens said the city is hopeful about what the value of the investments means in terms of the actual growth. He said it also demonstrates a set of diverse healthy industries in the local economy.
“We want to build on it,” he said. “We want the new Local Economic Development Organization to focus on that growth in the community.”
City and Tipton County officials are currently finalizing details to create a LEDO this year as a public/private partnership to oversee economic development efforts in the area.
Edson said several big expansion projects are planned in Tipton in 2012.
He said Park 100 is investing another $2 million, High Performance Alloys intends to invest $5.1 million and Bottcher America has a planned $2.5 million expansion in 2012.
He said other permits are expected for Central Metals and the renovation of the Dairy Queen.